Copy trading in Cryptocurrency
Trading in crypto is a common term and most people do it for making money out of the crypto market. Trading is one of the most popular methods in any market that people used to make money but it's not that we always make money. Sometimes we also lose money because of the different sentiments in the market and that is how trading things happen.
With time, things become more advanced and technology made it even easier and least complicated. For example, now we can trade with the use of high technology where things are analyzed with the use of artificial intelligence technology and it can give us a better idea of the market.
Copy trading
As the name sounds that it is something we can copy. It is one of the methods that some of the exchanges provide where we can copy the trade from an expert trader so this way we can reduce the chances of loss. Some people are very good at trading as they are familiar with the market and the kind of strategy they follow makes them win most of the time. We cannot expect a hundred percent success rate on anything but a decent percentage is good enough to call it a success but it is difficult to predict the percentage. I believe if someone can earn money in 70-80 percent then I think it can be considered profitable overall.
Copy trading is one of the methods that people can follow and they need not spend so much time on the analysis. Very few exchanges are providing this facility as of now and there are certain charges to avail but it is okay as long as you can make money out of it. They also provide how are details of the trader that you are going to copy so you know what is the approximate success rate you might be ending on.
I am not much active on the trading side but I still want to try this because I have heard a lot about it. I will be starting with a small amount in the beginning and later on will think if I need to continue further or not. I hope that my experience is going to be good so that I can also recommend it to other people and maybe I can also recommend it to my friends who are in Crypto but they are not much familiar with trading strategies. They are the kind of people who buy and hold the assets in long term but if with copy trade they can earn then I will not hesitate to recommend them.
I plan to spend some time on this to understand the basics and how it can help me make more money than I can't go through the self. I have gone through some of the articles and the majority of people are talking good things about it. It is looking good on the face of it but I will see by entering the segment and then we decide how good or bad it is based on my own experience.
*Thank you so much Stay safe
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