How to Start Crypto Copy Trading and Get Profit Today? The Guide You’ve Been Looking for so long
Wishing you were a trader but not ready to take huge risks? We have a solution for you — copy trading!
What is Copy Trading?
Probably, you’re embarrassed by my talk. Social trading, mirror trading, copy trading — most of the time it’s the same stuff. Call it whatever you want. All you need is to catch the concept: you simply let someone else develop the trading strategy for you by directly copying the exact same deals they make. The best option is the automatic mode, but the manual one is also possible.
Why is Copy Trading popular among newbie traders?
- Copying experienced traders can be an educational tool for people who wish to learn how to trade on their own.
- It is the easiest and most profitable entry to the global market — no need to have much expertise.
- Social trading works under the rule of being in the same boat: traders risk their own funds when providing trades for copying.
- If you copy the trades automatically, it’s a real time saver.
How does it work at Copy Trading Platforms?
1. Choose the top strategy from the rating (or the one you like the most).
2. Subscribe to it, start receiving notifications about transactions via Telegram or let the system repeat these transactions automatically, and earn.
Just like young artists learn by copying the creations of recognized masters, beginner investors improve by repeating after the best traders.
Well, let’s start Copy Trading! Do you know how to do it?
To get started, register at Coinmatics, go to your personal account and click Copy Trading tab. Next, look at the strategies rating, analyze their signals history, total profit, portfolio, latest deals, etc. And then select the strategy to copy. There are plenty cryptocurrency traders to follow at Coinmatics.
There are two types of copy trading: manual (when you subscribe to telegram signals and manually repeat transactions) and automatic (when transactions are copied automatically by the system).
SCENARIO №1. Automatic Copy Trading
- First, you need to have a Binance exchange account linked to our crypto copy trading platform — go to your profile settings and add it (“Settings” — “Exchange Accounts” — ”Add Account”). Then follow our instructions.
The minimum exchange balance for subscribing to auto trading is 150 USDT. So, you need to have at least this sum on your Binance account.
By the way, the detailed information on how to get the API keys can be found here.
2. After adding your exchange account dedicated to social trading, subscribe to the trading strategy you like the most. Go to the Copy Trading tab and click “Start Copying Strategy”.
3. The window “Auto Trading Subscription” pops up. Select your exchange account from the dropdown and click “Next Step”.
4. Now you need to choose the alignment method. If you want to copy effectively and correctly, you need to “catch up with the strategy.” This means aligning your Binance portfolio structure with the strategy asset allocation. You can do this manually and skip alignment on this step, but we recommend to choose automatic alignment.
What happens if I click “Automatic alignment”?
This is a function that you can use to align your portfolio with the strategy. It modifies the structure of your balance on Binance in order to make it identical to the chosen strategy.
We recommend aligning portfolios, it helps to reach 100% copy trading success. If the balances have different structures, then the system will copy only certain transactions (for example, it will not be able to copy transactions that involve a coin you do not have on your balance). And when you don’t copy them all, you cannot expect the same profit as the original strategy.
7. Congrats! Now you are a copy trader and crypto investor! Welcome to Coinmatics!
Hint: to find the strategy you subscribed to, check “My Subscriptions” section. In the “Success Rate” column we track how many transactions were copied, as well as the success rate.
SCENARIO №2. Manual Copy trading
In order to copy trades manually, you need to subscribe to the Telegram signals and make deals on Binance on your own.
- Go to the Copy Trading tab, select the strategy, and then click “Subscribe” near the Telegram signals cost.
2. You’ll see a pop-up window with instructions. Follow the step-by-step instructions, connect with our bot in Telegram, and click “Subscribe”.
Now you will start receiving notifications on completed transactions in Telegram. You can copy them manually. Notifications will come from our @ctt_copy_trading_bot:
If you choose paid Telegram signals, you’ll need to deposit some funds on your Coinmatics account:
3. Good job! Now you are a manual copy trader and crypto investor. Welcome to our crypto copy trading platform!
Remember: if you start copy trading, Coinmatics is the best tool.
Written by Sofia Gavrilenko.
Continue reading:
What Are Copy Traders Afraid Of?
