Bitcoin Forum

Hi All!
I’m fairly new to the crypto world. I’m still trying to learn how to trade. Where do u guys trade? Which sites do u suggest have a reputable “copy trade” option?? I don’t mind fees or commissions. I just want to try the copy trade option while I’m still learning. Thank u!

Exchanges like Binance and Bybit has copy trading. It is better you learn how to trade.

Use the money that you can afford to lose to trade.

You can find trading guide with videos included on exchanges like Binance.

Trading is very risky.

Do not be greedy.

See it as gambling but it is different from gambling.

How about Binance? Copy trading on Binance was just added last October 2023 I've not tried this yet than spot trading and leverage trading.

If you want to learn trading then you shouldn't rely on other traders I suggest learn the basics and keep practicing.
I have a good app that I think you may like with paper money and a trading simulator that can improve your skills and to understand candle stick patterns.

Check these two apps that I currently use

- Stock Market Simulator Game (https://play.google.com/store/apps/details?id=com.threeinvesteers.app&hl=en_US) (Includes crypto and uses TradingView)
- Learn CandleStick Patterns (https://play.google.com/store/apps/details?id=com.kovetstech.candlestickpatterns&pcampaignid=web_share) (This app helps me learn about candlestick while playing trading games)

What country are you in? These days it makes a big difference, since so many are afraid to do business in the USA, for example.

Hmmm, better search for the best trading platform now. As you said, if you are new to trading, then better trade on a platform that is already known and popular in order to avoid being scammed or using a platform that is not for new or new traders. If I will recommend maybe Binance, because that is the trading platform I'm using for crypto currency trading. If your focus is in crypto, then better use Binance as it is easy to use and navigated, and if you stumble upon a problem, then you can search for a solution as many traders are using Binance. Features wise, I strongly recommend Binance as it has different features, not just a trading platform. You could sell or buy assets from there using P2P or future trades, but of course future trades are not for newbies, so stay away from that for now. Well, I let others recommend other platforms, but for me, yeah, I recommend Binance.

Almost all popular exchange have the copy trading option except for a few.

Go here and pick your poison: https://coinmarketcap.com/rankings/exchanges/

Please note that by copy trading, you are actually limiting yourself from learning how to trade, most especially in regard to Technical analysis and taming your emotions. Emotions play a very big role on how making trading decisions.

Hello, I’m in US.

The most reputable cryptocurrency exchanges in the US are Coinbase, Kraken, and Gemini. I do not think Binance is available for the US and I am not aware whether the named exchanges have a copy trade option. I am only aware of Binance which provides a copy trade option but it does not operate in the US. You would need to learn to trade and for that, you can either do a Google search or go through this thread and you will find books recommended for beginners on trading.

Trade is possible with Centralized exchanges or Decentralized exchange.

So first you must know about CEX and DEX.

Then you can use Coinmarketcap.com or Coingecko.com, choose their exchange tab, choose Spot, to pick top exchanges for trading.

My recommendation is don't trade. As a newbie, if you trade, you will lose money in this volatile market and you will fall to scam coins too.

Buy and hold cryptocurrencies like Bitcoin, Ethereum, and if you want more, focus on Proof of Work altcoins. No rug pull with Proof of Work altcoins. Smart contract altcoins are risky.

Dont use copy trades that you see on most platforms. Sure its nice how they have a 1000% gain but the issue with many of those is that they are all short term gains. If you look at their history, they only traded for a few weeks. Look for someone who traded for years and you won't find these 1000% gains.

Usually what happens is the trend changes and they start to give back gains and eventually they go bust. One big issue is that they don't use stops or they use wide stops. So it appears they win 80% of their trades when in fact their max drawdown is something like 50% of their entire account, not a healthy way of trading.

Copy trading would be ideal for a trader that has a high ROI rate. I trade with different exchanges.

• Binance
• Bybit
• Crypto.com
• BingX
• XT

For the copy trading, I mostly see it at Bybit but I haven't tried it. I don't know if it would be worth it but I would love to see someone try that one in the long run.

The website https://www.cryptowisser.com/exchanges/ can help you to filter exchanges that are availae for US users.

It has basic information a trader needs like Taker fee, Maker fee, Withdrawal fee but you will need to check more on exchanhe websites because you can not 100% trust information gave by a third party website.

The exchanges that I think are reputable enough Binance and Bybit they have a copy trading feature you can try while learning and don't use a lot of money because of course you will lose especially still learning.

Actually, there are many exchanges according to your needs even with certain offers, maybe you also know some exchanges because there is also Copy Trading, but so far I have never used this feature.

I hope you don't get greedy and keep learning because after all this process will take a long time.

Copy trading has been on Binance before last year but it was first provided by a third part called TradingWagon or so. It is true that Binance own copy trading started last year but people have be doing copy trading with third party on Binance before then.

Derivative trading is not available in US. But maybe some exchanges have spot copy trading now. Also that US has its own exchanges. Exchanges copy trading that is common are for derivatives which is not on US exchanges.

     There are many exchanges you can choose from; you don't even need to ask for an OP; just type in Google the top crypto exchanges, and the ones you can use will appear.
All you will see are centralized and decentralized platforms; you will get bored with which one you choose.

     Good luck with whatever you choose; may you get a profit. The thing is, if you have an understanding of trading or if you don't, learn first not to gamble in trading;
 that's not a good habit.

The option to copy trade is present on most large exchanges, for example I use copy trading on OKX. Of course, choosing a good exchange that suits your needs will be your first task in your trading journey.

I advise you to learn first and try with a small capital. Do not be greedy because the market is currently on the rise, but it is very volatile, and greed may cause you to lose all your money. You must be patient and learn well before you start real trading.

I use Binance for my trading activities, and I believe it is probably the most reputable and popular exchange at the moment.
As you are new in the market, I would suggest that you keep learning how to trade so that you can perfect your skills and start making your trades yourself instead of going with copy trading, though I don't say it is something bad, I believe something that you do yourself would be better because you can't have the same level of confidence and trust in someone else that you can have on yourself.
So maybe you should keep your money safe for now and first focus on learning instead of engaging with copy trading and other stuff.

Most of the people here you'll see suggesting Binance, Bybit, OKX and some other popular trading platforms. Whichever exchange is comfortable and allowed in your country, you can do some backtesting before deciding to stay there.

Binance is always on a hot pursuit from different locals and countries but as long as it's allowed where you are, then you're fine to test them.

There are platforms that known for copy trading and you might also check some lists on it through google search. If you plan to just copy trade, make sure that you know what trading really is and you have at least basic background of how it works.

Coinbase, Kraken. Binance would probably not be suitable for you since it has a separate exchange for US citizens (Binance US) which afaik, has lower market volume compared to the global Binance one. I think an alternative that has copy trading would be Bybit Gemini. Turns out Bybit isn't allowed in the US as well.

Anw good luck to you op!

If there are other communities here that often mention the exchanges you mentioned, those exchanges are probably good to use in the country where they are located. Of course,
there are other exchanges that are not suitable for their countries, so the other exchange platforms are not mentioned.

For example, here in our country, gate.io, I can't use it to convert the crypto I earned to our fiat. Of course, I will need an exchange that has p2p that will make the transaction to our fiat easy.

Yeah, whatever works for each of us perfectly then we will vouch for them. Despite that many are suggesting others that we don't know, whichever had worked best for us smoothly, we'll not get out of them the soonest.

That's the reason why many similar exchanges are being suggested because the majority of us have good experiences with those exchanges. Whether you're in the spot or the P2P or leverage/margin, then all it takes is to have a smooth experience and good spread.

The best platform in our country is Binance and they also have copy trading so check this now and see if you can trade on the site and enjoy their whole platform as you are still learning. I suggest not to trade that much yet until you finally understand how the trading works since this is not just about the exchange you are using but its about the strategy that you are going to use when you do trading, and its not easy at all.

My question is, where have you heard of copy trading?
You don't sound like a stranger to the trade so I think you already know a little something about it and where you can try it.

I trade on centralized exchanges and one of them is binance. Of course Binance offers you copy trading and you can try it. Binance is not a new exchange whose reputation you need to doubt, but when you trust them then don't ignore the many risks that may occur. Don't keep your investments there as long as possible, unless you trade.

As suggested by many users here, me as well, I would go for binance as it is reputable among exchanges and the liquidity is great to a lot of alts. But if you go to copy trading, much better to learn the trading from scratch. Because once you get a hold of those trading tips and tricks, you don't need to venture the copy trading route.

But if the OP really wanted to try his hands on copy trading, make sure the trading platform is very reputable like binance. With years of using this exchange, I haven't encountered any issue at all. And your trading orders can easily be executed because of their very good liquidity in almost of their alts. Because alts that are stagnant, binance usually delist them in their trading platform.

Binance. I do not know why you are yelling (caps on) but binance has copy trading and the most trustworthy website in the world right now. I mean not website in general, I meant as in trading exchange for crypto with copy trading then yeah Binance is the one that you should be going for without a doubt. I think it's quite important to remember that we can make some money eventually, which means that if we know what we are doing then we will make a good profit with it.

I personally do not suggest copy trading for too long though, sure go ahead and check it out, but try to avoid that eventually, because it will not end up all that well for you if you keep doing it, eventually you will end up with a loss, learn to trade yourself and you will do better.

I am trading long time in the Binance and it's most reputed exchange in crypto, So you can try copy trading feature in there. If you want to try other exchanges i can suggest OKX,Crypto.com and Bybit. Other many top exchanges deployed copy trading feature. As a beginner i recommend to you for use small capital.

So far, the best one I know is Binance. I think, if you ask for recommendations for the best exchange, most people will say Binance. So, for starters, you can probably create your account there. However, binance requires KYC for its users, if you are really serious about learning, try to create an account and start from there.

Welcome fellow bitcoiner, please read about the types of wallets available for users and how to secure them and also how to avoid common scams.

If no previous experience in speculative trading, I suggest dummy trading, watching tutorials on youtube and online resources but avoid "guru" like people who do nothing but sell you their shitcoins.

On exchanges. Ask your local board members (country people) which ones they prefer and then try them out.

One of those things that newbies should not attempt to do. Please learn trading yourself and avoid these methods.

If you want to trade just to learn, you can learn trading using a demo account. As you mentioned in your post that you will only focus on learning trading without taking profit or loss very seriously. If you want to focus only on learning then demo account is definitely better for you. Many new traders start trading with a rough idea of trading through a demo account and have a lot of success when they catch on. If you don't want to trade using a demo account, you can create a main account and deposit some money there to continue learning about trading and you can practice trading with little risk. Hope this process will be very useful for you. Along with trading like this, you will observe the market and try to understand the candles.

My personal advice for trading is that you keep learning and learning and learning. Trading is a subject that you cannot master very easily, there are no short cuts. So the first thing you need to do to start trading is to learn and along with that you gradually start trading in small projects as planned. Keep in mind that you may not be profitable by trading at first, don't get discouraged correct your mistakes and move forward. Through this you will become a successful trader after some time.

I think if you want to learn trading, don't just use copy trading.  Copy trading will only limit you in learning.  Go to the Coinmarketcap site and look for a good market for your country.  And also select coins that in the top of 20 on the list.  Try looking for references on how to work with trading on YouTube, books or the web and trade on a small scale while practicing what your references say.  I think you should do it for 6 months so you can understand how the market works.  Do it slowly and it will sharpen you even more.  Remember that trading is very risky.  Don't trade with money that supports your life, do it with cold money. Always control your emotions and never be greedy because it will make you lose.

There are plenty of exchanges wherein you can trade like Gate.io, Kucoin, Huobi and Bybit. Copy trading is something which is available in most of the exchanges but I would personally suggest you not to indulge into copy trading as you don't only restrict yourself from the learnings but also it involves risk regardless you do your own trading or copy trading hence it's better to learn things on your own. I had recently posted in this section about the trading indicator and got very good insights that indicators are not accurate but rather learning on basics like Bollinger bands, RSI, MACD and RSI will help us.

For me, it's Binance and MEXC. Binance is a large market for trading crypto. The volume is significant, so you don't need to worry about the price dropping when selling many tokens. MEXC is a smaller market, but it doesn't require any information or KYC. It also adds many new low-priced tokens to the market every day. I like cheap tokens because they are easier to multiply than top tokens.

I will always recommend new users to use binance due to a number of reasons. First of all it's very user friendly and  easy to navigate. Using binance is pretty easy and you don't have to struggle very hard like newbies usually do to understand how it works and how you'll manage it.

Binance offers a very good and informative interface. The second reason is that whenever you find any problem then the content on binance is very broad. You can just go to any social media and search for the problem and you'll find the solution. That's not the case in most exchanges.

From my research, experienced crypto traders don't advice newbie traders to rely on copy trading to improve their skills, they should learn from different social media outlets like YouTube, and have an experienced mentor to guide them in their actual trading. There's no shortcut to mastering trading skills, new traders needs to learn and understand fundamental and technical analysis, then start with demo trading to improve their confidence, before starting actual trading with the amount that they can afford to loose.

For CEX exchanges, I usually use Binance and Kraken. Sometimes I use Mexc for new tokens. For DEX exchanges, I usually use Pancakeswap because I often find tokens from BSC. Sometimes I use Poocoin for super small tokens obtained from airdrops.

You are welcome to the crypto world. However, trading is a high-risk scheme. I think since you are new to trading, you should lean first before you start thinking of trading. Even if you are talking about copy trading, the fundamental knowledge can be useful for you and it will guide you more while you copy trade. There are exchanges like Binance and Bybit that offer copy trading views, but I don't think you will enjoy them without the knowledge of trading. However, while going into trading, I advise you to use the amount you can afford to lose and make sure you learn before you start trading so that you will know where the market is going.

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Don't rely on copy trading. You are a newbie, and you are supposed to learn at this moment. There is no other way you can earn if you don't learn, so therefore, the best thing for you now is to learn. You can find someone to be teaching you how to trade, both the technical analysis and other things that you must master before you enter the market of trading. You can also go to YouTube to learn. There are many videos available on YouTube that will help you in your trading journey, but now that you want to rush, you may fail. 

By copying trader's trades automatically, you will never learn how to trade on your own, but at the same time the risk of losing your money is very high. You should understand that one unsuccessful trade is enough and your deposit can be liquidated by the exchange.

Yeah, many newbies rely on copy trading because they think that they are newbies and there are pros that can make them profit. However, while it is true that they are newbies, not all pros make money and copy trading isn't a guaranteed way of making money and if you do not learn and just let others decide then you will forever stay as a newbie never learning how to be a pro.

You could take some notice from them and check what pro-traders are doing, that way you will have an understanding, but meanwhile you should keep learning how to be a pro yourself, that way after a few years you will be veteran of the crypto trading world and do not need help from anyone at all. That should be the key figure in what you do.

I trade on Bybit, it's a convenient site for me. Recently, I got acquainted with such a direction of copy trading there. At first everything went well and the balance increased, but at one point I lost 90% of my investments like the rest of the trader's subscribers  :((it was lucky that it was only $ 250, others had more losses). The trader explained this by the fact that he manually decided to enter and exit transactions, and did not rely on bots that automatically made transactions. Carefully look for a reliable trader, analyze them by studying the statistics. And also set up automatic withdrawal from the subscription to trading copies when the balance is reduced to a certain price! Secure your investments.

If you hope to become an independent trader later on in the future, having the intention to earn while you learn can slow the process of learning. Because you already are earning some little amounts from copying the trade of another trader, or from following the signals from a trading group or channel, your eagerness to want to become an independent trader will reduce. In the interest of long-term trading, it is good for a new trader to pass through the process of learning, demo-trading before they want to begin to earn from trading. The process takes some time, and you must be willing to wait without jumping any stage.

If you are brand new then I would tell you that your first step should be learning about trading rather than trading. You have to understand about trading and then trade. If you are brand new to crypto platform but want to start trading then you will make more mistake in training and you can lose your money. There is no rush in these trading platforms, you will have enough time to trade, so first get the idea of trading. You must know about the general issues related to trading. If you are not aware of the primary issues related to trading, you will not understand the right coin to buy, the right time to sell, and the right time to buy. To do the right things at the right time, you must know the basics of trading.

If you are completely new to trading then the only thing that really applies to you is: hands off exchanges and hands off real money.
Download a paper trading app (or use Excel) and start with paper trades. In 5-6 months, when you feel fit enough, have got a feel for how the market works and have seen how you react to negative trades yourself, then you can slowly start betting your first real money.

Later on, by the way, you should also keep your hands off copy trading. You will definitely lose money with it - but you will most likely also lose money with trading  ;)

I don't familiar with copy trader but for exchange recommended you can try trade in Binance or Kucoin, for depositing fund you can trader or buy USDT trough P2P exchange and looking the most recommended seller there regarding each countries has their own community its self for selling or buying USDT coins. You can make transaction there for buying USDT coins before trading in cryptocurrency and buy which one profitable or potential coins between bitcoin or altcoin.
For the first time I know with cryptocurrency used my own local currency exchange, I bough stable coins such as USDT there are transfer to Binance exchange with option many kinds of altcoin listing than my local exchange have fewest altcoin only for trading. Requirement with KYC when trading on Binance and some global exchange right now, you need prepare your document ID for verifying Binance or other exchange market.

personally i'm not really into copy trading hence i don't really know whether its gonna be effective or not but there's also reason why most of people that succeed don't really use copy trading i mean if its truly a popular option that could make profit without the need of knowledge to learn about trading related to chart and its pattern i'm sure its already popular from long ago but so far I never seen any people that uses copy trading and getting rich out of it.
you better off learning how to trade on your own honestly, just use demo account and you're set to try all the features as well as figuring out how to really trade by your own.
by not relying on some random trader out there that self proclaim to be the master of trader you're already doing a favour for yourself of losing money probably so there's that.
just don't rely too much on external sources.

A better option would be to trust a reputable and licensed AI trading bot that will relabance your portfolio to maximize your gains. I have enjoyed 173% profit from my investments through this method.

Depends on how to trade and what tools to use, CEX exchange allows you to use futures, P2P trading, that is, it is more convenient to use, but it is more risky if the exchange goes bankrupt, you will lose money. It is better to trade on DEX exchanges, where trading takes place with the help of your wallet, to which no one but you has access, but some instruments are not available there. 

The first thing you should do is learn how to trade.  Don't be greedy, greed kills everything in trading.  As you say you are new to trading sector I would suggest you first learn the terms and conditions of trading and practice them.  Moreover, Binance can be a good platform for beginners.  I will give you Binance advice for now.  It is very feature packed and a good platform for beginners.  Moreover, before you invest you must learn how to trade well.  Otherwise no platform or trading will be responsible for any loss you face, you will be responsible for it yourself.

Actually I think Binance is more suitable for him since I observe USA version of binance is gaining continuous reputation. Yes, I'm talking about the US version of it and they might have exclusive offers that are only available to the people residing on that country, which is great.

Coinbase and Kraken are big exchanges so maybe they do also have a version similar to Binance US? Hmm.. but too bad if Bybit doesn't allow US people because it might also be a good exchange as I'm seeing it across the forum lately. Gemini on the other hand must be a US-based exchange and I think they only allow people on the same country because I got a similar prompt last time upon trying to register on them.

Is copytrading legal in the US at all?

Copy trading is very similar to online betting, isn't it? You study "athletes" (traders), assess their strengths and weaknesses, and choose whom to bet on. If you bet successfully, you stay in profit. If you bet unsuccessfully, you end up losing.

Aren't platforms offering copy trading services required to obtain a bookmaker's license in the USA?

If you need a reputable platform to trade Bitcoin and cryptos, Binance, Kucoin, and Bybit are there for you, however there are couple of you need to know before considering using any these exchanges like transactions fees, Note that all these requires KYC before you would start trading with them and also has copy trading available, Mexc don't require KYC in case you need a platform that doesn't require KYC,  when it comes to fees Bybit and Mexc currently has one of the cheapest trading fees.

i have been trading on binance since last year and i feel that binance is quite a good trading platform, but i trade by relying on my own analysis and have not tried using copy-trading. on binance there is a copy trade feature but i feel that relying on other people's trades is not really worth it, because it's the same as me giving my money to someone else to trade, since all their trading decisions will be duplicated into my trades. if you are interested in using binance, you can use their copy trade feature and it is quite widely used by many traders there.

It is not that similar to gambling at all. I mean if you look at that type of thing, then stock markets are like gambling too, you study "stocks" and then consider which one will win and you bet on. You can't just simplify everything like that to make them equal. By that logic "water is like air right? Both have Oxygen element in it?" That doesn't work.

Copy trading is basically like putting up your money to some of the big financial companies, I can give my money to blackrock or warren buffet and expect a bigger return, and if I do well then I do well, but if I do badly then that doesn't mean I lost a bet. Same with copy trading, I trust a person instead of a company to make me money and if they do then I make a profit and if they don't then I lose.