The cryptocurrency market is heavily retail-driven, making it ultra-sensitive to industry trends, both from a price action standpoint to how products and services are developed. For example, the trading community is becoming increasingly social, making copy trading one of the hottest new trends for the coming year.
To prepare you for the new year, this guide will explain the benefits of copy trading, how to take advantage of the tool, and where you can find the most reliable copy trading solutions available.
Could Copy Trading Become As Big As The Copy Machine?
When Xerox first introduced the copy machine at scale, the benefits were immediately seen. The company’s name became so commonly associated with making copies American’s called it “Xerox-ing” much like today, people will “Google” what they are looking for online rather say they’re making a “search query.”
With a copy machine, you simply hit copy, and a duplicate of the document you are seeking to replicate will be produced. From the moment it became a home and office staple, it did everything an individual or business needed short of actually printing money.
Copy trading clearly doesn’t have anything to do with the copy machine, but in concept, it works like the above. Click “Follow” and automatically copy the trades of proven-successful strategy managers who have their performance tracked transparently within the PrimeXBT copy trading community. It’s the closest thing you’ll get to actually printing money.
What Are The Benefits Behind The Copy Trading Trend?
PrimeXBT copy trading is presented in partnership with the licensed and regulated European fintech developer Covesting, who created the copy trading module from the ground up. The Covesting copy trading module connects followers and strategy managers, who form a symbiotic and synergistic relationship where both benefit from one another financially.
David Anderson is a writer and researcher for Copy Trading Critic. David provides comprehensive news articles from the online trading world. He also writes reviews and analysis of copy trading platforms and strategies.