eToro's CopyTrader™ feature allows you to replicate the trading actions of experienced investors. This makes it simpler to do eToro Bitcoin trading even if you're new to the market. Here's a basic guide to using CopyTrader for BTC:
1. Create and Fund Your eToro Account
- Visit eToro's website and sign up by providing your personal details.
- Once registered, deposit funds into your account using your preferred payment method.
2. Find a Bitcoin-Focused Trader to Copy
- Log in to your eToro account.
- Go to the 'Discover' section.
- Use the search function or filters to identify traders who specialize in Bitcoin or cryptocurrencies.
- Review their profiles, paying attention to their performance history, risk score, and portfolio composition to check if they are matched with your investment goals.
3. Start Copying the Selected Trader
- Click on the profile of the trader you've chosen.
- Press the 'Copy' button.
- Enter the amount you wish to allocate for copying this trader. The minimum required is $200.
- Decide whether to copy the trader's existing open positions by selecting or deselecting the 'Copy Open Trades' option.
- Set a 'Stop Loss' level to manage potential risks.
- Confirm by clicking 'Invest'.
4. Monitor and Manage Your Copy Trading Portfolio
- After initiating the copy, your portfolio will automatically mirror the selected trader's Bitcoin trades in real-time and proportionally.
- You can view and manage your copied positions by going to your portfolio and selecting the copied trader's name.
- Depending on your preferences, you can add or remove funds, set or adjust stop-loss levels, pause the copy function, or stop copying altogether.
About Mike Druttman
