Bybit Copy Trading Review – Ultimate Guide to Copy Trading on Bybit

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Regarding popular crypto trading platforms, Bybit’s name comes to mind. This crypto trading platform offers high-end features, such as copy trading, which is one of the many reasons traders prefer using it.

Copy trading is a great and helpful feature for novice traders as it doesn’t require a lot of crypto trading experience. Here’s a guide to copy trading and how well it works on Bybit.

What is Copy Trading?

If you are interested in trading crypto without much hassle, copy trading is ideal. It’s an easy form of trading offered by numerous trading platforms, and Bybit is one of the most popular ones; expert traders use Bybit trading signals to alert other traders about cryptocurrencies.

All traders can use the Bybit copy trading feature, but new traders tend to go for it more. Inexperienced traders copy the experts’ trading techniques, making this a safe way for them to copy crypto trading strategies and gain experience. 

There are two types of copy trading:

  • Automated copy trading: A new trader gets to choose the trader they want to copy, and they make the trade when the experienced trader does.
  • Manual copy trading: This form of trading comes with fewer risks since it’s up to the new trader if they wants to copy the position of another trader.

How Good is the Copy Trading Feature on Bybit?

Bybit copy trading provides a more straightforward way to exchange digital currencies. This is beneficial for new traders who don’t have any trading experience or cannot monitor the markets to place trades manually.

Moreover, Bybit’s copy trading feature offers several benefits to traders, both new and old. Listed below are the top reasons why traders should go for copy trading. 

1. Pricing

Copy trading is accessible for traders, whether they want to register as Followers or as Maser traders. According to Bybit’s guidelines, registered Followers traders must share 10% of their net profits with the traders they copy.

There’s also a Bybit copy trading referral program, where users can earn 30% commission and a maximum of 500 USDT in bonuses when they invite their friends to join Bybit’s copy trading program.

2. Automation Features

When new traders pick the Master Trader, they want to follow and copy; all their trades are executed automatically. Therefore, this makes copy trading an automated feature.

3. Ease of Use

Copy trading is a reliable trading method, making it easy to use. Expert traders have to fulfill high-end requirements. This provides new traders with numerous reliable options they can choose from for a good copy-trading experience.

Bybit’s goal is to make copy trading easy for its users. Therefore, Followers must make a small deposit to start copy trading. Other than that, there aren’t any unnecessary fees.

4. Transparency

All of the critical information is available for users to make the right decision. This is one of the essential features of Bybit’s copy trading. This transparent trading platform displays all of the losses, profits, and trades available for users.

How is Copy Trading on Bybit Different from Other Platforms? 

Many trading platforms offer copy trading, but what makes Bybit different from these platforms? For starters, Bybit has made it easy for the Followers to participate in trades by allowing them easy entry, as mentioned earlier. Followers can directly learn from and communicate with other top-tier Master Traders.

Bybit thoroughly screens all of its Master Traders before allowing them to trade using its platform. They offer extensive performance statistics of each Master Trader so that the Followers can choose the most experienced trader to mimic. 

Moreover, the Master Traders get to dip into the giant Follower pool within the industry through Bybit. This allows them to boost their income by letting new traders mimic their trading strategies. Plus, they have full access to various intelligent trading tools that allow them to combine different trading strategies to produce profits for their Followers and themselves.

How to Start Copy Trading on Bybit? 

It’s easy to start cryptocurrency trading on Bybit. To start, go to Bybit’s copy trading page, where you get to pick your Master Trader. On the page, you will see drawdown statistics, the commonly traded pairs, seven-day ROI (return on investment), and various other performance metrics that can assist you in making the right decision.

If you already know which Master Trader you want to follow, there is also a search option where you can find them. After choosing your Master Trader, the next step is to move some funds into your copy trading account. Once you have done that, pick a comfortable order size and leverage for your chosen trading pairs.

Advanced traders get to customize their daily order sizes, slippage, position margins, levels of take profit and stop loss, and leverage for various trading pairs. Once you have confirmed your choices, you are all ready to start your Bybit copy trading journey. 

Bybit Copy Trading Review – Bottom Line

Bybit is known as one of the leading crypto trading platforms in the industry, offering some of the highest leverages. After introducing copy trading, which made it easy for new traders to trade, Bybit’s popularity grew. 

If you were looking for new ways to trade or wanted to step into the trading world for the first time, copy trading might be more suitable. This is an easy yet profitable way to learn how to trade. However, remember that while you get to copy a trader’s successes, you might also copy their failures.

With Bybit copy trading, it’s easy to find experienced traders you can copy. You get to open and close the same trades as the experts and see an increase in your crypto balance, all thanks to one easy-to-use crypto trading platform.

Hopefully, this Bybit copy trading review has helped ease your doubts about trading. To discover Bybit alternatives, check out our Bitmex vs Bybit review.

Disclaimer

This article is for educational purposes only. We are no financial advisors. The information provided from SmartOptions is for informational purposes only. It should not be considered legal or financial advice. You should consult with a financial advisor or other professional to find out what may be best for your individual needs and risk tolerance.

Please do your own research and never let anyone trade your account for you. We do not support or advertise Fund Management in any kind of manner. We solely review signal providers, their work/analysis/provided education. Please read this disclaimer and leave the website if you disagree with it.

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1 COMMENT

  1. I have used Bybit before but to be honest I trust (no spam please) more. It seems to me that their exchange is better protected.

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Ahad Waseem
Ahad Waseem
A linguistic engineer who writes to solve problems. Ahad is a cybersecurity, blockchain, and business writer who often takes on art, politics, and economics too. He’s written for various crypto publications and trades cryptocurrency too. When he’s not writing, he’s probably on horseback, caring for his houseplants, or training Bonsai trees.