Bitget updates its copy trading tool with new features
Seychelles-based cryptocurrency exchange Bitget has made updates to its copy trading feature. The recent upgrade includes a new smart copy mode and the creation of independent accounts specifically for futures copy trading.
Bitget’s platform allows everyday investors to search and compare the performance of hundreds of proven cryptocurrency traders and mirror their trades automatically. Simultaneously, the platform helps investment talents bring their results to light by competing with other traders in an equally fair environment.
The smart copy mode is being gradually introduced to users, offering a more intuitive way to invest by following the strategies of experienced traders and monitoring their allocation and portfolio tactics.
This new smart copy mode is designed to simplify the process for users, particularly those who are new to trading. It allows them to allocate funds and execute trades by setting a specific percentage of their total assets to match the investment amount of the traders they are copying. This feature eliminates the complexity of the process, requiring users to just enter their investment amount and start trading with a single click.
Previously, Bitget offered two modes for setting investment amounts in copy trades: a fixed amount mode and a multiplier mode. In the fixed amount mode, a preset amount of funds is invested in each trade. The multiplier mode, on the other hand, bases the investment amount on a ratio between the user’s and the elite trader’s investment amounts.
The introduction of a separate account for futures copy trading adds a layer of protection for users’ assets as it keeps them independent of the general futures trading account. With this separation, the risks associated with futures trades and copy trades are isolated from each other. If one account faces liquidation, it does not affect the other. Additionally, this update makes it easier for users to find and monitor their futures copy trading assets.
Bitget has been scaling its global reach, recently registering as a Virtual Asset Service Provider (VASP) in Poland and securing similar approval in Lithuania. The Singaporean centralized platform, which debuted in 2018, is a diverse crypto exchange that supports spot and futures trading, copy trading, farming and staking services.
Bitget also acts as Juventus official partner and official cryptocurrency exchange partner, and its first-ever sleeve partner. The cryptocurrency derivatives exchange reportedly has 1.6 million registered users in 48 countries and regions including UK, France, Italy, South Korea, Japan, and Russia.