For many newcomers to the world of crypto trading, learning about the nuances of technical analysis is a daunting and somewhat overwhelming task. Candles, stop losses and other weird technical terms that are hard to keep track of. So what if there was a way to skip this steep learning curve and start trading like the professionals? Well there is, and it’s called CopyTrader by eToro.

eToro is one of the top platforms for cryptocurrency trading in the world. Their new feature, CopyTrader, allows traders to instantly copy the portfolios of a growling list of world class crypto traders. This means that you can mimic the returns of these professional traders without needing to do anything (well maybe some research). 

With CopyTrader you have access to the portfolio and performance history of whoever you decide to copy. This enables you to compare the many options of traders you have to copy and choose which portfolio suits your level of risk and your investment strategy. Also, using the social platform that eToro pioneered, you can discuss the investments of the person you copy in real time. 

The person you copy is analogous to a mutual fund trading stocks. When you copy, you copy with a certain amount of cash, this cash amount increases or decreases depending on the performance of the portfolio copied. A 5% increase in the portfolio copy corresponds to a 5% increase in the amount invested. 

Like with any investment there is a strong risk associated with entering into a market, especially one as volatile as crypto. Always remember to DYOR on not only the traders but the assets they hold. 

Source: eToro.com