Copy Trading is a trading strategy that has gained popularity in the crypto industry, particularly among novice traders, according to Gracy Chen, managing director of crypto trading platform Bitget. The strategy, which involves copying specific trading strategies of other investors, has been effective during the bear Market. The interest in copy trading has been growing globally, but traders and prospective users from Africa seem to be particularly interested. A report highlighted a 300% growth in copy trading adoption in the last 24 months, with Africa leading the way.
Copy trading is favored by more risk-averse investors and traders who want to leverage the knowledge and expertise of professional traders during the continuing bear market. Bitget has seen significant growth in its user base due to the popularity of copy trading. Over 400,000 traders have used the strategy since its launch in May 2020. Internal data from Bitget shows that 28% of traders have resorted to copy trading at least once in 2023, and 109,000 followers of professional traders on the platform have made a profit.
In addition to copy trading, Bitget’s partnership with football star Lionel Messi has contributed to its market growth. The platform’s decision to set up an office in the Middle East was driven by the region’s crypto-friendly policies and the presence of influencers and partners. To gain user trust, Bitget has implemented a protection fund and regularly publishes proof-of-reserves.
Overall, copy trading has disrupted the crypto industry and is increasingly preferred by less experienced traders. Its popularity is evident in the significant growth in adoption globally, with Africa showing particular interest. Bitget has benefited from the trend, with a large number of traders using the platform for copy trading.
Bitget’s Gracy Chen Claims Copy Trading as a Game-Changer for the Crypto Industry
parofix.com
Copy trading is favored by more risk-averse investors and traders who want to leverage the knowledge and expertise of professional traders during the continuing bear market. Bitget has seen significant growth in its user base due to the popularity of copy trading. Over 400,000 traders have used the strategy since its launch in May 2020. Internal data from Bitget shows that 28% of traders have resorted to copy trading at least once in 2023, and 109,000 followers of professional traders on the platform have made a profit.
In addition to copy trading, Bitget’s partnership with football star Lionel Messi has contributed to its market growth. The platform’s decision to set up an office in the Middle East was driven by the region’s crypto-friendly policies and the presence of influencers and partners. To gain user trust, Bitget has implemented a protection fund and regularly publishes proof-of-reserves.
Overall, copy trading has disrupted the crypto industry and is increasingly preferred by less experienced traders. Its popularity is evident in the significant growth in adoption globally, with Africa showing particular interest. Bitget has benefited from the trend, with a large number of traders using the platform for copy trading.
Bitget’s Gracy Chen Claims Copy Trading as a Game-Changer for the Crypto Industry
parofix.com