The first step to take before an inexperienced trader can find the best bitcoin trading platform is to BUY BITCOIN. In order to do that, you must create a free wallet account on an exchange. We generally recommend Coinbase because:
- It is easy to use
- It supports most countries
- It complies with U.S. regulations
- It processes your KYC data quickly
- It offers the top crypto coins
- It supports PayPal for instant withdrawal
Once an account is opened, KYC (Know Your Customer) personal data provided and verified, payment source connected – only then are you ready to buy bitcoin. Once you’ve made a decision to participate in the crypto space, look for the best bitcoin trading platform with software and features to fit your goals.
Best Bitcoin Trading Platform
There are a few bitcoin trading platforms online, and we’ve used just about all of the reputable ones, avoiding those that are obvious scams. Success rates vary, but before we get to that we have to identify priorities. What are the most important elements that a crypto trading platform should possess? Based on our research and observation of over 30,000 users – here is what we found to be the top 4 must-haves:
- Reliable Reasonable Returns
- Ease of Use to Set Up
- 100% Asset Control by Investors
- Effortless Operation
With these priorities established, finding a crypto trading platform that hits on all four is a tall order. Let’s pick apart the specifics to see why copy trading is an ideal concept, while understanding that not all platforms are created equal.
Best Trading Platform Options
There are a couple of reasons why investors using a bitcoin trading platform to copy expert traders do not realize a good profit from their trades. The first mistake commonly made is to inadequately fund your own trading account. The expert trader you copy will have an account that is completely different from yours. The expert does not know your balance, and his focus is on his own balance – not yours. He may have more available funds than you, and if a losing streak occurs it is only a matter of depositing more funds to keep going.
New crypto traders usually do not have a large number of funds set aside for trading. In fact, the opposite is true as the typical investor will risk a small amount to test the waters. When a couple of losses occur, they bail on the bitcoin trading platform and unjustly chalk it up as a failure on the expert’s part.
When copying expert traders, trust in their ability to know when to buy, sell, or hold is needed. The copier must also stay the course thru inevitable losses in order to realize wins.
Bitcoin Trading Expert Impact on Programs
Another issue with copy trading is that often the expert being followed suddenly disappears, leaving you with a bag full of altcoins in your account. If you don’t know how to trade yourself, then you could easily and likely lose money. It is important that the bitcoin trading platform experts are in it for the long haul. This can be hard to determine is using a social-trading format. Trading is risky and making profits is not easy, it requires a level of expertise few social traders actually possess.
Since 100% control of your funds is a top priority, bitcoin trading platforms that require a deposit of your trading funds are not a good choice. The security of your funds is dependant upon the platform’s diligence, security measures, expertise, and integrity. While there is also risk having funds on a major exchange, it is far less than putting trust in a bitcoin trading platform that could exit with your funds at any time with little consequence. Furthermore, those bitcoin trading platforms that also act as an exchange often have limited trading pairs available.
Finally, the expert should tailor their risk profile to consider their copiers as much as possible. While some bitcoin trading platforms assign a risk rating to traders, most copiers do not realize the implication.
Best Platform Approach to Copy Trading
TradeSoEz™ is the only bitcoin trading platform created to specifically address the must-haves for investors who want to copy experts. The Plug and Trade™ system provides unequaled ease of use for subscribers. A unique approach taken is to allow subscribers to copy an expert trade team with complimentary styles. Every subscriber copies all TradeSoEz™ team experts using a managed algorithm to balance allocation for maximum profitability.
Rapid-fire scalpers make trades that become profitable immediately and remain focused to exit trades promptly if they go south. Day traders take advantage of price movements that occur in a session, and exit before they change direction. Swing traders patiently wait for a trade to present itself, but want it to become profitable shortly thereafter. They execute trades with a calm, measured approach void of fear if a trade turns against them temporarily. And finally, position traders build portfolios to hold through both bull and bear market trends.
The professional Trade Team approach removes competition for followers to ensure focus, longevity, and stability of TradeSoEz™ experts. While the trading of assets comes with risk, combining known “best practices” with proper risk management creates an environment that works to benefit all parties involved – traders, investors, and the bitcoin trading platform. A novel approach that few take.
