How to Copy Trade Binance Coin on eToro?

Written by Mike Druttman

Reviewed by Wikitoro Team

To start copy trading Binance Coin (BNB) on eToro, first find a trader who specializes in BNB and visit their profile. Adjust your copy trading settings, including the amount you're willing to invest. Then, simply click the "Invest" button to begin copying their Binance Coin trades.

Exploring Binance Coin Copy Trading via eToro

Binance Coin (BNB), the native cryptocurrency of the Binance exchange, has garnered significant attention in the trading community. However, some traders may find the Binance platform restrictive or complex. Fortunately, eToro offers an alternative through its copy trading feature, especially for those interested in BNB.

This article I've crafeully written aims to guide you in leveraging eToro's copy trading to mirror the strategies of seasoned BNB investors. I'll also share my approach to selecting traders, which could help you find a crypto investor that suits your trading style.

How to Find BNB Traders?

With a community of over 30 million traders, this platform offers a vast array of options. However, this abundance can be overwhelming when deciding whom to follow and copy.

☝️ Here's my tip: To simplify this, I recommend using the "Copy Binance Coin Investors" section on the BNB asset page. This feature streamlines the process of finding relevant traders by providing a curated list of recommended investors, thus bypassing the need for complex filtering in the CopyTrader tool.

In the Overview tab of the BNB asset page, scroll past sections like Graph, Latest News, and About until you reach the list of BNB-focused investors. This list displays each trader's name, username, and performance status (green for profit, red for loss), offering a targeted selection of profiles actively trading in BNB.

The Process of Copying a BNB Trader on eToro

Once you've identified a trader whose strategy resonates with you, here’s how to start copying their BNB trades:

1. Access the profile of the chosen BNB trader.
2. Click the "Copy" button to open the "Copy this Investor" dialog.
3. Enter your desired investment amount, with $200 as the minimum.
4. Ensure the "Copy Open Trades" option is selected to include their current trades.
5. Consider setting a Copy Stop Loss to manage potential risks.
6. Click "Invest" to begin copying the eToro Binance Coin trader’s positions.

Your Copy Trading Decision Matters

The final step in copy trading on eToro is making an informed decision. With a wide range of crypto traders to choose from, it's crucial to thoroughly review their portfolios. In my case, I looked at their trading statistics, historical performance, and risk score to ensure that they align with my investment goals and risk tolerance, so I suggest going by this method.

Copy trading isn't just basically mirroring someone's investments. It also involves selecting the right trader and also continuously monitoring their strategies and performance to stay aligned with your investment objectives.