Making money with cryptocurrency can be easy, or hard, depending on the actions you take with it.
Everyone wants to make money though, and so services exist where those who are successful with trading can help those who are not, or those who would rather have someone else make their decisions. These are copy trading services. These services allow traders to sell their strategies to others to be copied in exchange for a fee or percentage of their profit.
But what is copy trading crypto and where can you do it? CryptoVantage has assembled a list of our favourite copy trading services below.
Please note that some links on CryptoVantage.com are affiliate links. We may receive a commission, at no extra cost to you, if you click through our links and make a purchase from one of our partners.
What is Copy Trading Crypto?
Copy trading crypto is the strategy of copying other people’s trades.
When you copy trade, you are simply mirroring the actions of the leader, in order to generate profit as they are. Conversely, you can be the leader and have others copy you. Copy trading exists for markets outside of crypto and began in traditional finance.
Copy trading can be a great way for beginners to get started trading crypto without having to do much.
CryptoVantage’s Favourite Crypto Copy Trade Software
Below are some of CryptoVantage’s favourite software for copy trading crypto. They are in no particular order. Some of these are services on exchanges while some are strictly software.
eToro
eToro is one of the original social trading platforms, having started with traditional finance markets. They also offer it for crypto. Their CopyTrader features allows users to easily copy successful trader’s strategies. Simply choose the traders you want to copy, decide on the amount you wish to invest, and copy everything they do automatically, and in real-time. You can copy up to 100 traders on eToro, with multiple customizations available within CopyTrader. This includes only copying new trades, copying all trades, pausing a copy, and even putting a stop loss on it. With a variety of ways to copy trade crypto, while also being able to do traditional markets, eToro is quite popular.
- Great for crypto beginners
- Solid crypto/general trading platform
- Reliable company with solid trust in the community
- Fully supports credit cards for deposits and withdrawals
PrimeXBT
One of the most popular options to copy BTC traders, PrimeXBT offers copy trading for all users. Professional traders can easily monetize their skills by allowing others to copy their strategies on PrimeXBT. More followers helps earn traders more money they can make from profitable trading. New traders can bypass the pitfalls of learning markets and instead copy-trade successful traders. Copy trading with PrimeXBT provides access to a wide range of markets such as cryptocurrencies, stocks, forex, and commodities. All of these markets are also accessible via the free PrimeXBT mobile trading app.
- Covesting gives users the ability to copy successful traders
- Trade on international markets using Bitcoin, Tether or Ethereum
- Support for staking cryptocurrencies and earning up to 10% APY
- Crypto, S&P 500, Gold, Forex and commodities with a single account
CryptoHopper
CryptoHopper is an extremely popular crypto trading bot. One of the features on CryptoHopper is called Mirror Trading, which is like copy trading crypto. Essentially you can mirror, or copy, the trading strategies of expert traders. You can buy their templates, strategies, or signals. Templates include their selection of coins, configuration settings and more, they are usually offered as a compliment to strategies. Strategies are designed and screened by approved traders and are a collection of technical indicators and parameters that will dictate a bot’s buying and selling decisions. Signals are a notification of a possible hot coin, meaning you can pay to have a third-party tell you when a coin is worth investing in. On CryptoHopper you can take any of these aspects and apply them to your bot.
- Great introduction to crypto trading bots
- Easy to set up for new users
- Compatible with a large number of cryptocurrency exchanges
- Full support for mirror trading
Gate.io
An exchange with an enormous selection of crypto assets and trading pairs, Gate.io has recently introduced Copy Trading. This allows traders to copy other users’ trading strategies. In exchange for letting their strategies be copied, the trader gets a 5% piece of the profit you get from their strategy. This is a cascading effect, with no limit on the number of commissions you can receive. Gate provides a leaderboard of successful traders by profitability, trending, and more.
- Solid platform for experienced traders looking to put in large amounts of volume
- Competitive fees compared to other exchanges
- Headquartered in Cayman islands
- Huge selection of cryptocurrencies
Bitget
Bitget is another exchange-copy trading hybrid that was originally based in Singapore but now has offices all over the world. The site offers numerous cryptocurrency pairs and with leverage trading also available. Perhaps the only downside of Bitget is that it’s crypto-only so you won’t be able to fund your account with fiat currency.
- Free copy trading for users with up to 8% commission for trader who creates strategy
- Wide selection of small market cap tokens
- Low fees across all aspects of the platform
- 24-hour customer support
Shrimpy
Shrimpy is a crypto trading bot that is focused on portfolio management. One of the features is Social Trading. On Shrimpy, Social trading cryptocurrency is done in two ways: leading and following. Leaders are the ones who create and make their strategy accessible. Other traders can then choose to pay (amount varies by Leader) to follow that user’s strategy. When the leader makes a change to their portfolio, all followers’ portfolios copy that move. There is a leaderboard which shows the most successful leaders, making it easy for new users to pick a winning strategy from existing ones.
- Excellent free version that offers a large number of features
- Social trading portion that lets you follow other traders
- Different tiers for pricing with support for enterprise-level organizations
- Automatic portfolio re-balancer
Zignaly
Zignaly is another popular crypto trading bot, and they offer copy trading services. On Zignaly you can copy expert traders’ activity automatically and essentially let them do the work for you. Once you’ve connected your exchange account you just need to select the trader that you wish to follow and pick the desired maximum amount of funds you would like to use. Zignaly’s copy trading platform will then automatically replicate the trading activity of the trader you are following. This ensures that your results match the trader’s. No need to worry about settings, strategy, or risk management, it is all done on your behalf. Traders will often charge for these services, and you are able to see reviews and success of each trader. Just like on Shrimpy, you can also sell your own strategies on Zignaly rather than buy them.
Coinmatics
Coinmatics is strictly a copy trading platform. It works just like the other platforms mentioned above, where traders can choose to pay to copy another trader’s strategy or have others pay to copy their own. There are free strategies available to copy as well. Coinmatics is a bit different from the rest of the options mentioned though as it solely focused on copy trading. There are no other services available such as basic trading bot features.
