Far removed from its past perception and execution, the realm of cryptocurrency is currently more visible than ever before. It is genuinely a rapidly evolving concept, where every alteration occurs with each passing moment. Consequently, a multitude of crypto investors seeks methods to engage in futures trading without dedicating countless hours to analyzing charts, market psychology, and technical analytics.
With this demand rising, an array of copy traders has surfaced, but excelling in this field necessitates more than just skill and keen insight. One trustworthy provider is BYDFi’s Swap Copy Trading. They have established a system that allows subscribers and users to automatically replicate the trades of experienced traders.
As highlighted previously, crypto is characterized by its speed and constant evolution, making careful analysis and the capacity for quick decision-making vital traits that traders must have, alongside being astute and well-versed in how cryptocurrency operates. Nevertheless, not everyone can cultivate these qualities promptly; often, mastering them can take years. Hence, if you wish to enter the crypto landscape today, considering a subscription to copy traders is a sound choice.
In this article, we offer a comprehensive evaluation of BYDFi Swap Copy Trading. Here, you’ll also discover information regarding its background, the workings of swap copy trading, the process of profit-sharing, user experiences, advantages, and areas requiring enhancement. After reviewing this information, you can make an informed choice to take advantage of what they present.
What is BYDFi
Previously called BitYard, BYDFi is a worldwide cryptocurrency exchange launched in 2020, with its headquarters situated in Singapore. In a short period, it has expanded to over 150 countries, earning its status as a reliable platform. Some of the primary services provided by BYDFi include spor trading, leverage tokens, perpetual contracts (perps), and copy trading (also known as swap copy trading).
Users can trade over 400 cryptocurrencies and more than 600 trading pairs via BYDFi. The trading fees are competitive, and you will undoubtedly appreciate its user-friendly interface. Additionally, it has secured licenses across various jurisdictions and adheres to regulatory standards. Indeed, BYDFi presents itself as a platform suitable for beginners while ensuring a professional-grade exchange for all levels of users.
What is Swap Copy Trading?
Swap Copy Trading represents a core feature of BYDFi. Rather than executing manual long or short positions in perpetual contracts, users can effortlessly follow and replicate trades made by professional and seasoned crypto traders. Users can align with the strategies of pro traders, and BYDFi’s system will manage the trades on their behalf.
Here’s a brief overview of how it operates. Suppose a BYDFi trader initiates a 5% long position on BTC, and you allocate $1,000 to copy their trade; a $50 BTC long position will automatically open in your account. When the professional trader exits the trade with a profit, your account will also close the position. This automation ensures that your trading actions are directly tied to the decisions of the professional trader.
Why is BYDFi Swap Copy Trading Popular?
Here are additional reasons to consider subscribing to BYDFi Swap Copy Trading:
Beginner-Friendly
For those new to the crypto space wanting to partake in futures or professional trading, it is easy to grasp the mechanics by mirroring professional traders.
Time-Saving
Not everyone involved in crypto has the luxury of time to continuously study and execute trades, yet anyone can participate and succeed in crypto by adopting a reliable system.
Transparency
In addition to being compliant with regulations, BYDFi users have continuous access to verified and clear statistics of top traders. Win rates, risk levels, and potential ROI are all accessible to users.
Passive Income Potential
Most individuals engage in the crypto market to generate profits, but not all possess the same level of expertise and skills to keep pace in this rapid environment. Luckily, with BYDFi, subscribers have an equal prospect to earn passive income alongside experienced crypto traders.
Benefits of BYDFi Swap Copy Trading
Examine these broader features of BYDFi Swap Copy Trading:
Hands-free trading
As trades are executed automatically, there’s no need to take risks with manual trading.
Allocate based on your preference
You can begin with a small amount if you’re simply testing the waters. You have the freedom to determine how much capital to invest in each trade or for each trader.
Opportunity to learn crypto while earning
As you start generating income, you can also utilize the chance to study the trades you are copying and comprehend how trading patterns function. This should also educate you on risk management and how to trade independently if you choose to pursue it full-time.
Profit Sharing for Traders
A sizable commission range of up to 8 to 10% from skilled traders based on follower’s profits is a strong testament to BYDFi’s solid performance.
Diverse Strategies
Gain insights and access to professional traders employing various trading styles. Be exposed to