In response to feedback from the Gate.io community, users can now trade over 50 cryptocurrencies on the spot market using Gate.io’s copy trading platform. This is a massive upgrade for copy traders who, until now, have been limited to only the futures market, opening up the doors for a broader range of traders to reap the benefits of copy trading.
What is copy trading on Gate.io?
Spot copy trading on Gate.io, which is one of the largest copy trading markets, allows experienced traders to share their positions and trading activity for other traders to copy, with a small fee going toward the lead trader.
In general, copy trading on the crypto markets is a way for anyone to copy the trades of other, often more successful traders. The risks associated with crypto trading can grow if a trader is unprepared or unavailable for the markets. Copy trading helps less experienced traders, who may not have the time or skill for trading, tap into potential gains they may have otherwise missed out on. Think of it like trading but on autopilot, where successful traders act as the guide.
Copy trading is straightforward and can be accomplished with just a few actions. It’s as simple as signing in to Gate.io, visiting the copy trading platform, selecting the trader you wish to copy, and allocating capital. In addition, Gate.io provides tutorials and guides that prepare traders to become copiers or publish their trades for others to emulate.
Advantages of Spot Copy Trading on Gate.io
Spot copy trading on Gate.io has several benefits, with access to over 50 popular cryptocurrencies at the top. In terms of experience, everything is laid out in an easy-to-use interface that provides copiers with analytics such as historical rate of return, total return, popularity, and more. Meaning copiers can easily browse and locate the best traders to copy, increasing their potential for positive returns.
Traders that want to publish their trades for others to copy can earn up to 70% commission on the profit earned by their copiers. In addition, lead traders have access to a streamlined dashboard to easily create, manage, and modify the parameters of their published trading activity. Lastly, lead traders will gain exposure on the copy trading platform’s main page and leaderboards.
After numerous upgrades, the copy trading platform on Gate.io has become a well-refined tool for copiers to expand their trading possibilities and experienced trader to earn an income. Gate.io regularly introduces new features and expands the asset selections based on community feedback.
Gate.io Copy Trading: Spot vs Futures
With the addition of spot trading to Gate.io’s copy trading platform, users can now trade a wide range of spot market cryptocurrencies. In contrast to the futures market, spot trading is a much easier and less technical way to trade that can be summed up as placing buy or sell orders that are only profitable when the price rises.
Spot trading has a reduced risk of loss and a higher potential for stable returns compared to futures trading. All of this is not to say that futures trading is bad, as it can provide multiplied returns and allow traders to profit from downtrends. The key benefit is that traders can use a smaller amount of capital to multiply their returns. Still, it also comes with the risk of multiplied losses and the need to understand the technicalities and market patterns better.
Overall, copy trading on Gate.io is an excellent way for traders to automate their trading activity and reduce the risks of inexperience or lack of time. The addition of the spot market now welcomes more risk-averse traders who want the stability and predictability of spot trading. The platform is very easy to use and provides plenty of information to make an informed decision. However, it is still important for traders to remember that past performance does not guarantee favourable results in the future.