The survey indicates that the popularity of copy trading is rising, especially in Africa.
Traders under the age of 25 account for 44% of crypto copy traders.
Once
incredibly popular in the contract for difference (CFD) market, copy trading solutions are now
also captivating the hearts of cryptocurrency users. Copy and social trading are increasingly employed by investors in the digital
asset landscape, as demonstrated by the latest research conducted by Bitget, a crypto derivatives exchange.
The
research shows Generation Z traders lead this trend, representing 44% of
all copy trading users. Additionally, while other age groups participate,
traders from Africa and Commonwealth of Independent States (CIS) countries
showed significant interest in this trading method.
Crypto Traders Love Copy
Trading
The study
assessed the trading activities of a wide array of active crypto traders over
the first half of 2023. More than 109,000 traders profited using copy trading
techniques, amassing over 74 million USDT in cumulative earnings. The research
demonstrated a high success rate among copy traders: 93% of futures traders
and 82% of spot traders made profits using this strategy.
Bitcoin
(BTC) was the most frequently traded asset via copy trading (52%), trailed by
Ethereum (ETH) at 44%. Geographically, most copy traders hail from Western
Europe (31%), East Asia (26%), and Southeast Asia (19%). Even though Africa
represents a smaller share of users, it tops the list in terms of interest in
copy trading, signifying the emerging nature of crypto markets in the region.
"These
survey results are indicative of the general market sentiment,” Gracy Chen, the
Managing Director of Bitget, commented on the release of the survey. “The use
of advanced tools, including AI-based ones, is making such strategies as copy
trading both accessible and profitable for users who do not have extensive
knowledge of trading.”
Gen Z Takes the Lead
The study
revealed that Gen Z users, who are typically tech-savvy and influenced by
social media, make up 44% of all copy traders on Bitget. They are followed by
the 25-35 age bracket (32%), the 35-55 age group (17%), and individuals over 55
(7%). About 72% of traders under the age of 25 use Bitget primarily for its copy trading
platform, with a comparable proportion of 65% seen in the 55-64 age group.
“Social
trading is a major force that is shaping the industry landscape as users are
cooperating even more as a holistic community. We at Bitget are determined to
continue improving our copy trading feature, and that coincides with the
general philosophy of our 'Smarter Trading' slogan,” Chen added.
A report by
The Insight Partners supports Bitget's findings, projecting that the social
trading industry will grow at a CAGR of 7.8% and reach $3.77 billion by 2028, which is a
significant increase from $2.2 billion in 2021.
The rising
popularity of copy trading among cryptocurrency traders is indicated by the
increasing number of exchanges beginning to incorporate it into their services.
At the start of this year, the OKX platform provided its global user base with
access to services for copying the positions of other traders.
However,
the industry is being scrutinized more seriously by regulators. In March, ESMA
announced its intent to emphasize enhanced investor protection for those using
copy trading. This is especially pertinent given that some form of it is now
offered by every third investment firm in the FX/CFD market.
Once
incredibly popular in the contract for difference (CFD) market, copy trading solutions are now
also captivating the hearts of cryptocurrency users. Copy and social trading are increasingly employed by investors in the digital
asset landscape, as demonstrated by the latest research conducted by Bitget, a crypto derivatives exchange.
The
research shows Generation Z traders lead this trend, representing 44% of
all copy trading users. Additionally, while other age groups participate,
traders from Africa and Commonwealth of Independent States (CIS) countries
showed significant interest in this trading method.
Crypto Traders Love Copy
Trading
The study
assessed the trading activities of a wide array of active crypto traders over
the first half of 2023. More than 109,000 traders profited using copy trading
techniques, amassing over 74 million USDT in cumulative earnings. The research
demonstrated a high success rate among copy traders: 93% of futures traders
and 82% of spot traders made profits using this strategy.
Bitcoin
(BTC) was the most frequently traded asset via copy trading (52%), trailed by
Ethereum (ETH) at 44%. Geographically, most copy traders hail from Western
Europe (31%), East Asia (26%), and Southeast Asia (19%). Even though Africa
represents a smaller share of users, it tops the list in terms of interest in
copy trading, signifying the emerging nature of crypto markets in the region.
"These
survey results are indicative of the general market sentiment,” Gracy Chen, the
Managing Director of Bitget, commented on the release of the survey. “The use
of advanced tools, including AI-based ones, is making such strategies as copy
trading both accessible and profitable for users who do not have extensive
knowledge of trading.”
Gen Z Takes the Lead
The study
revealed that Gen Z users, who are typically tech-savvy and influenced by
social media, make up 44% of all copy traders on Bitget. They are followed by
the 25-35 age bracket (32%), the 35-55 age group (17%), and individuals over 55
(7%). About 72% of traders under the age of 25 use Bitget primarily for its copy trading
platform, with a comparable proportion of 65% seen in the 55-64 age group.
“Social
trading is a major force that is shaping the industry landscape as users are
cooperating even more as a holistic community. We at Bitget are determined to
continue improving our copy trading feature, and that coincides with the
general philosophy of our 'Smarter Trading' slogan,” Chen added.
A report by
The Insight Partners supports Bitget's findings, projecting that the social
trading industry will grow at a CAGR of 7.8% and reach $3.77 billion by 2028, which is a
significant increase from $2.2 billion in 2021.
The rising
popularity of copy trading among cryptocurrency traders is indicated by the
increasing number of exchanges beginning to incorporate it into their services.
At the start of this year, the OKX platform provided its global user base with
access to services for copying the positions of other traders.
However,
the industry is being scrutinized more seriously by regulators. In March, ESMA
announced its intent to emphasize enhanced investor protection for those using
copy trading. This is especially pertinent given that some form of it is now
offered by every third investment firm in the FX/CFD market.
Damian's adventure with financial markets began at the Cracow University of Economics, where he obtained his MA in finance and accounting. Starting from the retail trader perspective, he collaborated with brokerage houses and financial portals in Poland as an independent editor and content manager. His adventure with Finance Magnates began in 2016, where he is working as a business intelligence analyst.
Paxos Appoints Former CFTC Chairman J. Christopher Giancarlo to Board
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
Hannelé De Necker, CEO, IFX Brokers | FMAS:24
1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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1 week to go until FMAS:24 kicks off and we couldn't skip our interviews with some of this year's sponsors 🤩 Starting off strong with Hannelé De Necker, CEO OF IFX Brokers.
See you there!
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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FMAS:24 | Sneak Peak
FMAS:24 | Sneak Peak
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa