Social trading is a popular investment strategy in which investors look at each other's trades in order to make better trades themselves. Social trading has grown in popularity in recent years, and looks to grow even more in popularity as more new traders come online every year.
Social trading on Bitget operates similarly to a social media platform, as it's packed with information and metrics on the investors you choose to follow, including their Return on Investment, Profits & Losses, and more. Social trading is an especially useful method of investing for newer investors, and Bitget‘s social trading platform is a great way to get started.
What Is Social Trading?
Social trading is a form of investing that lets investors view the trades and strategies of other, more experienced investors. The idea behind social trading is that by following the investment strategies of the pros, you can improve your own trading methodologies.
The most popular form of social trading is copy trading (also known as mirror trading), which occurs when one investor copies another investor's trades automatically in real-time, achieving the same returns without needing to constantly follow along.
What Is Bitget?
Headquartered in Singapore, Bitget is a cryptocurrency exchange platform that was founded in 2018. Bitget has more than 2 million users worldwide and a daily trading volume of over $5 billion, making it one of the biggest cryptocurrency exchanges in the world today.
Bitget supports many different cryptocurrencies (including Bitcoin (BTC), Tether (USDT), USD Coin (USDC), Axie Infinity (AXS), and Ethereum (ETH) and charges zero deposit fees, making it a convenient crypto exchange for regular use. Bitget is also known for its low fees when making spot trades, and has a mobile app available for both Android and iOS users.
Bitget Social Trading Features
1. Bitget One-Click Copy Trade
No social trading platform is complete without copy trading. With copy trading on Bitget, you can employ the investment strategies of 55,000 different Bitget crypto traders with support for 40+ trading pairs, allowing you to learn the ins and outs of crypto trading even if this is your first experience with digital tokens.
Users can also see important metrics on the performance of the investors on the platform (including their Return on Investment and the Profits & Losses of both the investor and their copiers), making social trading with Bitget very transparent.
2. Bitget Order Types
All of the order types supported in Bitget's primary exchange are also supported in social trading, giving users all the versatility they need when trading. Some of the supported order types include stop loss orders, take profit orders, margin trading, and more.
3. Top-Notch 24/7 Customer Support
Bitget has a thorough support page with plenty of tutorials and FAQs to help solve any issues you may have when using the platform. If you have a more specific question you can't find an answer to, Bitget also offers 24/7 customer support via live chat and email ([email protected]).
Bitget also boasts a considerable social media presence, so you can also reach them via Twitter, Telegram, Discord, LinkedIn, Reddit, Facebook, Instagram, YouTube, and Medium.
Benefits Of Social Trading
- Ideal for beginners: Social trading—and copy trading specifically—involves copying the trading strategies of other, more experienced investors. As a result, even inexperienced investors with very little prior knowledge about financial markets or investing can achieve strong returns through social trading.
- Ideal for learning: When your own money is on the line and you have some skin in the game, you're much more likely to pay attention to the trades that your social trading strategy is making. As a result, you'll learn the strategies of experienced traders faster than you otherwise would, building your own library of knowledge in the process.
- Credibility: Most social trading platforms allow followers to review the investors they follow, which keeps the platform honest and the dialogue constructive. Such a review system makes it easier for users to find the top-rated, most profitable investors, helping you make informed investment decisions.
- Large communities: Social trading platforms tend to have large communities of users sharing knowledge amongst each other. Should you ever need help, you can always ask a question to the community and get it answered quickly.
More than 2 million followers use Bitget's social trading, and the platform has processed more than $64 billion in copy trading volume. Given its widespread popularity and top-notch platform security, Bitget is a secure, reputable place to copy trade.