Cryptorobotics: What is Сopytrading, and how does it work?

Nowadays, a huge number of people invest in cryptocurrency as this field of activity provides traders with various opportunities to receive passive income. Therefore, even if you are new to the world of cryptocurrency, you can take advantage of algorithmic trading, which greatly simplifies the entire trading process. Various platforms offer a lot of completely automated trading methods. Cryptorobotics is considered one of the best trading platforms that developed various cryptocurrency trading solutions to help traders make successful transactions. This trading platform continues improving its features and working on creating new ones. Cryptorobotics offers algorithmic trading tools such as Autofollowing, Trading robots, Signal trading, Copytrading, and other additional features that improve the trading quality.

Copytrading is especially popular among novice traders. This is one of the easiest ways to gain experience from professional traders and get passive income. Of course, this comes with the inherent risk of trading, but with a disciplined approach and regularly finding the best crypto traders; you can definitely receive good returns.

Before we tell you how to configure this function in the Cryptorobotics trading terminal, let's figure out what Copytrading is.

What is Copy Trading?

Copytrading is also known as social trading or mirror trading, which means copying trading strategies or trades of experienced traders who consistently bring in more profits than losses.

Why is Copy Trading popular among newbie traders?

• Copytrading can be an educational tool for inexperienced traders who want to learn to trade on their own.
• It is the most simple and profitable way to enter the cryptocurrency market without necessarily having much expertise.
• It can reduce the risk of losses for newbies.
• Automated copying trades saves a lot of time.

How to set up a Copytrading tool on the Cryptorobotics platform?

If you want to customize Copytrading function and start copying trades of the experienced traders, you need to:

• Go to the trading terminal Cryptorobotics.

• Complete the registration.

• Click on the Algotrading tab.

• Select Copytrading.
• Select the trader's channel you prefer.

• Subscribe to one or several channels.
• It is necessary to trade the same cryptocurrency that the Master Trader trades (USDT, BTC, etc).
• Your balance must be the same or higher than the minimum balance specified in the trader's channel.
• Launch Copytrading.

Copytrading is currently available on Binance and Binance Futures.

It should also be noted that for the correct copying of transactions in each channel, it is necessary to connect a separate account that doesn’t have other transactions or is not connected to other algorithmic trading tools.

Before choosing a channel for subscription, you can study the statistics of each trader. To view statistics of transactions that the trader made, you should go to the trader's channel and view the channel statistics and all trades. Therefore, you can easily decide it is worth buying a subscription from this trader or not.