and the distribution of digital products.
Top 10 Copy Traders on BYDFI
Copy trading has many advantages. It takes less effort, helps you learn quickly, has very low fees, and has many other advantages.
However, it comes with a certain amount of risks too. The most prominent risk is following unverified and new traders which can lead to your loss.
BYDFI not only presents a safe, simple, and easy trading platform but also has many features that facilitate safer copy trading.
One such solution is the list of top 10 traders whom you can follow in BYDFI. Let us explore these expert traders who can make your trading journey a lot easier and more profitable.
Summary (TL;DR)- Copy trading enables a new trader to learn and adapt to the crypto trading environment from a professional trader.
- BYDFI is among some of the best crypto exchanges and also a copy trading platform.
- Copy trading on BYDFI is very fascinating and simple so that one can easily make out all the details of traders on the screen.
- The platform enables you to sort the traders on the basis of their Profit Ratio, P/L Ratio, Win Rate, and Accum followers.
Copy Trading is among the latest innovations in the crypto markets. This is a unique trading method that allows traders to benefit from professional traders’ experience by simply copying their trades by paying a nominal fee.
Further, with the copy trading option, there is no need to be an expert on cryptocurrencies in order to make a profit from them.
Instead, traders can make a good profit by just following the expert traders with an amount of capital, and then they can make money on their traders.
What is BYDFI?BYDFI exchange is one of the most popular cryptocurrency exchange platforms that was established back in the year 2019 and is based in Singapore.
The platform provides simple, safe, and fast crypto-asset exchange services to all its traders. They have 500,000+ users from across 150 countries.
Moreover, it provides traders with Multiple licenses, service diversification, copy trading options, easy deposit and withdrawal feature, and many others.
Furthermore, it has also partnered with multiple companies such as Binance, CoinMarketCap, and more.
To learn more, read our BYDFI review.
BYDFI
How to choose the best copy trader?
BYDFI has a number of copy traders; choosing among them is a tedious task. There are a number of parameters from which one can decide which traders to choose.
Traders can make a choice on the basis of Profit Rate(PR), P/L ratio, Number of followers, Win Rate(WR), and Number of trading days. These points are further explained below:
1. Trader’s Profit RateOne should always observe a trader’s profit rate as a beginner. Following this, beginners can easily check the percentage and then vouch for the trader with 80 percent or higher.
Although there is never a certainty that you will gain profit by copying them, they generally know what they are dealing with.
2. P/L RatioThe P/L ratio is also known as the Profit/Loss ratio. This can tell a lot about a trader and can also be considered as an actual parameter to determine their overall success. A P/L ratio that is higher than 50% is a great asset; however, it is only available for 30 days.
3. Win RateWin rate is calculated as the Number of profitable trades divided by the total number of trades, and after that taking its percentage. This will provide a rough estimate of the probability of success of the trader.
4. Trading daysWith this parameter, you can get a rough estimate of a trader’s experience, and opting for a trader with more experience increases the chance of making a profit.
5. Number of FollowersThis feature will tell you the total number of traders copying the selected trader. Higher followers mean more people are confident in the trader which helps increase your trust in them.
VISIT BYDFI NOW! Top 10 Copy Traders on BYDFI 1. Lamborghini
Lamborghini
2. Trade Luxury
Trade Luxury
3. X-Dragon
X-Dragon
4. ThomasShelby
ThomasShelby
5. Merkel
Merkel
6. GTS35
GTS35
7. Fansipan
8. Harry Maguire A
Harry Maguire A
9. SEC
10. HuyNQ
HuyNQ
Conclusion
There are a lot of copy traders in the crypto market and even on the BYDFI platform. One must choose their copy traders by looking at all the aspects that make them successful. Blindly copying the trades of a trader can get you into heavy losses. The above-mentioned are some of the best copy traders on BYDFI that have a balance of all the parameters such as Win rate, Profit rate, Followers, P/L ratio, and many more.
VISIT BYDFI NOW! Frequently Asked Questions Why is copy trading better for novice traders?Crypto copy trading is a better option for novice traders as it enables them to trade and learn simultaneously without even having to deal with all the complexities of the cryptocurrency market.
Why does a follower have to pay a commission to the copy trader?The successful copy traders have studied the market and made all the trades on behalf of the followers. Therefore, on completion of these trades, the copy traders charge a commission from their followers in return for profit.
Is copy trading risky?Like every other investment, copy trading also comes with its own risks. The risks are that if the trader loses in a trade, you are also bound to lose money.
What percent of commission is shared with copy traders on BYDFI?The copy traders on BYDFI get 8% of the net profit per order from their followers.
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