For most retail investors, trading has traditionally been a solitary exercise, making the barrier to entry relatively high. Information regarding trading instruments and market conditions can often be hard to come by or, at other times, too complex for beginners to grasp. Here at Bitget, the organisation is determined to remove this barrier by turning trading into a social, collaborative activity that investors can engage in together.
To further enhance social trading experience, the team at Bitget have recently launched two new services: Bitget Insights and Bitget Strategy Plaza. Both of these platforms allow traders to more easily share their knowledge and opinions on market conditions and trends, giving users the space and opportunity to engage in constructive collaboration. Along with other social trading products such as One-Click Copy trade, Bitget gives investors an edge with a series of crypto social trading features.
What Is Social Trading?
Social trading places a focus on bringing investors and traders together by combining the interconnectedness of social media platforms with the world of finance and trading. Through platforms built specifically for the industry, users are able to share their ideas and strategies with each other, so that beginners can better understand what experts are doing, and seasoned professionals can garner a healthy following that, on Bitget, can become an alternative source of income.
The system allows collaborative efforts to flourish and effectively lowers the barrier to entry into the world of cryptocurrencies while building more confidence for users as they make more informed financial decisions. According to a market forecast by The Insight Partners, the global market for social trading is now worth US$2.23 billion and is expected to grow to US$3.77 billion by 2028. With an expected CAGR of 7.8%, social trading is quickly becoming the new face of finance, and there’s no better time to join in on the trend than now.
Understand How Professionals Trade With Bitget Insights
While our One-Click Copy Trade service makes life as convenient as possible for users to ride on the success of more seasoned professionals, the system doesn’t exactly manage to promote deeper communication than most social media platforms promote. This is where Bitget Insights steps in. Essentially, the latest creation is a newsfeed on which expert traders can share their views and opinions on market conditions and trends, explaining to their followers in greater detail not just what positions they’ll be opening or closing, but also the reasoning behind their decisions. Registered accounts can post analyses accompanied by graphs and images to explain various cryptocurrency movements and predictions they may have for the future. Through this community, beginners and amateur traders can learn more about cryptocurrency trading, while professionals can create a following for themselves that can then translate to more copiers or subscribers to their strategies, bolstering their alternate source of income. And now that strategies have been mentioned, let’s turn to Bitget’s other new release: Strategy Plaza.
Benefit From Professional Expertise With Bitget Strategy Plaza
Bitget Strategy Plaza builds on the success of One-Click Copy Trading and offers greater flexibility when it comes to trading with expert advice. While the latter option allows users to discover professional traders and directly copy their positions (albeit with their own risk parameters), Strategy Plaza instead allows retail investors to copy any strategies that experts have created. These strategies will take the form of autonomous algorithms with set parameters that will execute trades on your behalf, given the right market conditions.
The benefit of this system is that because everything acts autonomously, your portfolio will be best positioned to react to quick market changes dictated by volatile conditions. It also takes out the emotional side of your decision-making process, meaning you can rely on the objectivity of the algorithms to prevent holding on for too long or closing too early. As with the case of copy trading, there are also benefits for strategists who publish their strategies. Each strategy you create can be sold for a price, and those who publish many can also set subscription fees so that followers can gain access to all your strategies under one umbrella payment. Together with One-Click Copy Trading and Insights, Strategy Plaza offers more options and flexibility for both beginning investors and expert traders alike.
Why Choose Bitget?
As one of the leading cryptocurrency exchanges in the derivatives space, Bitget currently serves over eight million users across more than 100 countries around the globe. The confidence and trust placed in Bitget by users have translated into more than 55,000 expert traders providing guidance to over 1.1 million copying investors in our Copy Trading service alone. The overall trading volume has now surpassed US$64 billion, with US$300 million in total revenue for traders and US$350 million for copiers. With the launch of both Bitget Insights and Bitget Strategy Plaza, these figures are expected to continue growing.
Of course, profits aside, Bitget also places a strong emphasis on safeguarding user security and privacy, and have recently increased the user protection and insurance fund from US$200 million to US$300 million, consisting of 200 million USDT and 6500 BTC. Bitget has obtained operating licences in numerous trusted jurisdictions, including the U.S., Canada, and Australia. Our cybersecurity team has also placed Bitget within the Top 10 Exchanges by Cybersecurity from Crypto Exchange Ranks, earning us 12 A+ ratings from SSL Labs.
To start your social trading journey today, head over to Bitget’s Copy Trading or Strategy Plaza pages. Find tutorial guides on how to navigate both Bitget Insights and Bitget Strategy Plaza on the website.
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This article has been originally published at: https://news.bitcoin.com/bitget-gives-investors-an-edge-with-a-series-of-crypto-social-trading-features/