Recently, the growth of the crypto market is attracting more and more traders who want to grab their own piece of the big crypto pie. Such a demand stimulates founders of copy trading platforms to constantly improve.
What is copy trading?
The core idea of copy trading is copying deals of a professional trader and its automatic execution on an exchange account. The concept of copy trading is similar to social trading when a community of followers is formed around an experienced trader in order to replicate his trades. Copy trading automates this process and does not require any involvement in communication with a trader or their audience. Such services are provided by copy trading platforms like Coinmatics.
Coinmatics is a crypto copy trading and analytical platform where beginner traders can make a profit by copying the deals of experienced traders, who, in turn, receive an additional income from the subscriptions on their trading strategies.
The platform allows users to get a profit from cryptocurrency trading regardless of their expertise and knowledge. Let’s look at how professional traders and investors (users who copy trades) can increase their income.
Traders on Coinmatics can get profit from the investors who subscribe to their strategies and copy them automatically (copy trading) or manually (via Telegram signals). A trader connects to the platform, continues his trading on the exchange, and earns additional income from his followers. He receives a fixed monthly payment for each subscription.
Note: Coinmatics takes only 5% of a trader’s profit on the platform.
In their turn, investors can choose the strategy (or multiple strategies) that best suits their investment goals. They can subscribe to it – meaning that they will automatically copy all trades of the strategy, or choose to receive signals on their Telegram. There are also a wide ray of features allowing investors to track their financial performance and growth.
Before subscribing, an investor can evaluate the trading strategies using credible statistics: strategy description, trading period, history of trading signals, total profit, strategy risk level, rating and other parameters.
It is necessary to mention that users do not have to provide their API key withdrawal permissions. On the contrary – the platform would not connect your exchange account API key, if withdrawal is enabled. To copy trades on the platform, only trading permissions are required. This ensures that the platform user exchange account balance is under their total control.
Additionally, users can protect their accounts with two-factor authentication after registration on the platform.
How many strategies are on the platform?
At the time of writing more than 180 strategies are available to copy, including spot and futures strategies. There are free and paid strategies on the platform. One can find some good and trusted spot strategies completely free to copy. In order to copy a futures strategy, a user needs to get one of the premium plans. This is a good option for beginners to start trading.
Coinmatics has 3 billing plans: Free, Premium, and Premium Ref.
Free plan includes Spot copy trading, analytical tools, ticker alerts, and portfolio tracker.
Premium plan includes all Free plan features, plus futures copy trading and prioritized copying. Premium plan has monthly and yearly subscription periods.
Premium Ref plan is provided to a user who has applied a Coinmatics referral code when registering on a partner exchange platform. Premium Ref plan includes the features of all plans and increasing copying speed, which allows trading at the best price.
Which cons does the platform have?
- No Margin strategies to copy.
- Lack of diversification. It is impossible to distribute the amount of the deposit of one account over several trading strategies.
- No support service 24/7.
Copy trading is a good way to increase cryptocurrency income for both experienced traders and beginners. Automation is a trend in 2021 and it will become more popular in the future. Automated trade execution allows busy people without deep knowledge to get profit from the volatile crypto market. For seasoned traders, it is a perfect opportunity to monetize their experience and get additional income.