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What is a Cryptocurrency Copy Trading Platform

The time when you needed to be an expert to profit from cryptocurrency trading is long gone. By just mimicking the trades of a profitable trader, anyone may now achieve success in the market thanks to copy trading. This might be a clever way to generate passive money. Nobody refuses more dough, right? This article explains how anyone may trade cryptocurrency through copy trading. Please keep in mind that we are not licensed investment advisers. Just goodhearted people that enjoy sharing our knowledge to help the crypto community.

trading skills
trading skills

The Basics of Copy Trading

As previously stated, cryptocurrency copy trading—also known as social trading—refers to the practice of replicating trades made by another trader. That implies that you profit when they do and lose when they enter bad positions. The best aspect is that you may choose from thousands of traders, so you can start investing right away after selecting your favorite. The investor might be called a master trader, a master account, or just a signal provider.

In the following sections of this post, we’ll discuss all of that and more. Because you have no control over when the signal provider places trades, it is preferable for the entire process to run automatically to ensure that you place all of the trades as soon as they are opened on the master. To enable this, copy trading platforms usually provide a trade copier. This is simply software that bridges the master and copier account for seamless real-time trade duplication. Some tech-savvy pro traders prefer using custom-made bots instead.

These are computer programs designed to duplicate positions from master accounts based on a set of rules created by the programmer. They come in handy for platforms that don’t offer copy services. For now, we will only stick to all-in-one crypto social trading websites.

Cryptocurrency Copy Trading Platforms

With hundreds of websites claiming to offer copy trading services, it may be quite an uphill task to successfully select the best ones. We saved you the trouble by compiling for you the five best cryptocurrency copy trading platforms based on our own experience. Here we go.

bybit logo


ByBit is a digital coin exchange with at least 250 coins, cheap trading costs, a VIP program, and an easy-to-use UI. A robust charting engine and features such as spot trading, leveraged tokens, launchpad, and credit investment are available to users. You don’t need any prior understanding of market analysis because the software includes a simple copy trading tool. The 2018-founded company allows investors to trade from their PC or via a downloadable iOS and Android mobile app. The copy trade page features a plug-and-play capability in which you simply select your preferred master account and click “Copy.” You can customize your risks to your preferences.

eToro logo


eToro is not only one of the most well-known digital coin copy trading sites but also ranks among the pioneers of the technology. The multi-asset company serves clients from almost all locations globally, underscoring its appeal in the industry. It boasts registered offices in Cyprus, the United Kingdom, the United States, and Australia. eToro comes with a comprehensive social trader that lists master accounts as per their past performance. Apart from virtual coins, forex, and stocks make part of its over 3000 tradable assets. It’s easy to use and offers 24/7 customer support and an active community of users across various social media channels.

Binance logo dappGambl


Binance is the most dominant crypto exchange in the world, controlling over 50% of the entire virtual currency landscape.It averages a daily trading volume of $38+ billion and a transaction cost of less than 0.10% With more than 120 million registered accounts, CoinMarket ranks it first in terms of number of new and active users, web traffic, and liquidity. With over 350 crypto assets to choose from you can start copy-trading on the platform within just a few minutes of sign-up. You can fund your account in digital money or fiat like USD, EUR, AUD, and INR.



Libertex is a margin trading platform used by at least three million traders globally. It was launched in 1997 and has grown into the top-tier ranking thanks to its dedication to offering diverse services to the market. It has at least 300 markets and holds licenses in Cyprus (CySEC), St. Vincent and the Grenadines, (FSC) Mauritius. The Libertex team is keen on adopting emerging technologies for a better user experience. Apart from incorporating ChatGPT on its interface, it recently rolled out its own copy trading service. The new feature, which was introduced on 16th February 2023 is available for traders using MT4. All you need to do is identify your favorite master account and attach your portfolio to it. You can adjust your risk reward using the multiplier function, relative to the master trader.

kucoin logo


KuCoin is a Seychelles-based centralized crypto exchange popular for P2P and margin trading. It offers over 1,500 trade-able assets including fiat products and at least 700 digital currencies. Like Binance, it ranks among the largest virtual money marketplaces by volume. It boasts more than 10 million users and is available in over 200 countries. In addition to interest-earning accounts, trading bots, and instant portfolio management, KuCoin just expanded passive income-generating opportunities by introducing a copy trading feature. This is a fully automated terminal where you can monitor the performance of other traders and duplicate traders of the most successful investors to your portfolio.

How to Select the Right Trader

Are you feeling eager to start copying trades? Choosing the right traders to follow is not always a walk in the park. The best copy trading platforms like the ones listed above usually have hundreds of accounts you can follow, so it takes time and good skills to sort them out. In this section, we discuss the key metrics we go for while performing an analysis to find the best copy trading signal providers. Here is a detailed breakdown.

  • Reputation: Reputation is the first thing you want to check when looking for the right signal provider. You can tell how trusted a master account is by looking at the number of accounts following it. That’s not enough, it may be best to also find out how many of these are trading with real money. Some people follow signals with free-play accounts as a way of tracking performance before deciding to duplicate the trades on live accounts. At least half of the followers should be live. A master account with a few followers is generally a bad sign, especially if the trader has been active for a long time. It signifies low trust from followers. Lastly, investigate how much the master account is trading. The higher the account size, the more vested interest such an investor has, meaning they will be cautious not to lose money carelessly.
  • Returns: Once you have sorted out a decent list of reputable traders, you want to rank them according to their returns. Of course, high returns mean more money for you. However, abnormally high profits may be questionable. It may be best to look for accounts that have moderate but consistent profit increases. Annual returns surpassing 100% are usually due to luck in most cases. Some traders may achieve this through high risk, which wouldn’t be good for your money. So you may need to couple this with other metrics if you are to consider investing in such a portfolio.
  • Risk: Now that we have discussed returns, it’s essential to learn that no matter how lucrative the annual returns seem, a high drawdown may not be a good sign for a signal provider. As much as we want to take home huge profits, we try to keep our risk as low as possible. We believe it’s much better to miss risky opportunities and live to see another day than wipe our account trying to buy a Lambo in one single day. Stats show that over 90% of traders don’t make it to three months, and you don’t want to be part of them. An overall drawdown of less than 10% is considered decent enough. In terms of risk per trader, we find 2% fair enough.
  • Consistency: Next, zoom in on consistency. A portfolio with multiple successful trades over several months and few losses says much about the competency of the trader. You may want to avoid signal providers that take trades only once in a while as it could be difficult to tell whether they are successful by lack, or an actual strategy. New master accounts, however, how good they look might need extra caution.

Pros & Cons of Copying Others’ Trades


  • No trading experience required
  • Good source of passive income
  • Offers easy diversification
  • Suitable for both experienced and new traders
  • Time-saving


  • No control over trading decision
  • Master mistakes can be costly
  • You will have to pay a commission

Expert Conclusion

The process of learning how to trade cryptocurrencies can be exhilarating, but early mistakes can be expensive. That is where copy-trading comes in. Simply choose the best signal provider and begin copying their trades. Don’t forget to look at important elements like their standing, hazards, reliability, and more. It’s also crucial to keep in mind that past success is never a guarantee of future results. Margin trading carries high risks, so we always invest only our risk capital. Pro traders could also imitate profitable master accounts. It saves a tonne of time. Finally, conduct additional research and only begin trading when you are prepared and fully aware of the risk involved. Please feel free to browse our websites for more articles. We share lots of informative stuff from our daily experiences.

Eugene Abungana
Eugene Abungana - Investment Analyst, Financial Analyst, and Institutional Trader
183 Articles

Eugene is a crypto and iGaming writer, with a passion for sharing the latest trends and developments in the industry. His fascination with cryptocurrency started in 2014 when he first discovered Bitcoin. He has since expanded his knowledge and experience through education, trading, gaming, and working with different experts. My goal is to offer unbiased and accurate information while promoting ethical and responsible gambling practices.

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Reviewed and Fact Checked by Nakul Shah , DLT Expert and Project Manager