Interested in getting in on the coin craze, but don’t know where to start? Consider CopyTrader.
2020 has been a trying and (consequently) transformational year for the global economy in several, intertwining ways. If there’s one big takeaway from the pandemic that can influence the future of commerce, it’s that money is becoming increasingly more digital in a society already headed in that direction, before state-mandated lockdowns all but sealed the proliferation of digital transactions.
So where does crypto fit in the narrative? It’s been an interesting past few months for the industry, with many dubbing 2020 as “the year cryptocurrency goes mainstream.” A weakening US dollar, declining interest rates, and subsequent inflation have sparked a renewed interest in crypto, leading to an influx of institutional and consumer investments and major partnerships like the recent PayPal adoption.
Once considered a fringe “asset,” it’s becoming impossible for legacy financial institutions, big tech, and even the federal government to ignore the crypto wave. For consumers ready to take the plunge, however, it’s important not to forget who brought Bitcoin to the dance. While anyone can make a sizable investment in crypto’s top coin, it takes a savvy, experienced background in trading to assess and attack the market as a whole. For novices, that’s where CopyTrader enters the fold.
What is CopyTrader?
As part of eToro’s platform, which has empowered millions of people with easy access to innovative investing tools, CopyTrader allows users to mimic the moves of the top traders on the crypto market. Whether you’re a beginner or simply don’t have the time to get knee-deep in altcoin speculating, CopyTrader is a one-click solution for replicating some of the most accomplished portfolios, all based on how much you want to invest and which top traders you want to follow.
Thanks to eToro’s growing list of “Popular Investors,” there are a number of traders and portfolios for users to choose from, as well as customizable options. Users must allocate a minimum of $200 to get started but can copy as many as 100 traders at a time. From there, eToro users have total control of managing their portfolio, whether they want to stop copying a particular trader, pause trades, add or remove traders or funds, you name it.
There are other special attributes baked into CopyTrader, including the Stop-Loss feature. With this, users can set a value that, if reached, will automatically halt future trading. Members can also adjust default settings to determine if they want to copy all of an investor’s current or just future trades.
For those a little apprehensive about investing actual funds, eToro allows users to try out CopyTrader risk-free by accessing the platform’s virtual portfolio tool. With this feature, users can invest up to $100,000 in “play money” to get in some practice reps and witness the possibilities of CopyTrader before depositing real money.
More than just a platform for buying and trading crypto, eToro is a collaborative community that allows users to connect with traders and discuss strategy, stats, risk scores, and mores. So whether you want to copy to traders, build your own portfolio, or just browse the many tools and features available, visit eToro today and get started on your investing journey.