Has anyone tried any crypto social trading platforms?

These social trading platforms are gaining traction, I’m interested to see if anyone has used them successfully, whether that be through positive learning experiences, actually copying traders and placing trades or having your account traded for you.

Popular platforms I’m aware of include eToro and Decoin.

Any takers?

I took a look at Decoin, and their Dtrade app, built into the exchange website. There are only 5 active “top traders”, with performances ranging from -4.88% up to 59%. You can see the starting balance, what investors have invested and what the trader’s account balance currently sits at. 4 out of the 5 traders hold between 1.2 and 2.7 btc, so decently sized accounts.

It’s my first exposure to this type of trading, so I’ll follow a couple traders to see how the mechanics work out.

What makes a trading platform “social”?

I guess this part? Is it the transparency of what other traders are doing? :open_mouth:

Right now I am trading with Kraken. They have affordable fees and latest features for trading. They also offer flat purchasing fees. That’s a plus point for low volume traders.

Kraken is good but is it a social trading platform?

No, I generally stay away from any social trading platforms.

It is not.

What is then?

I really like Decoin, I think it’s a really good trading platform.

I’m only aware of the two I mentioned and haven’t used either in any great deal. Decoin looks interesting, but the amount of available copy traders there is low.

I think in 2022, coinbase, crypto.com and Binance U.S are best.

None of those offer copy trading to my knowledge. Binance.com (non-us) offers copy trading through 3rd party API integration. Are you copy trading?

Actually I have no complete idea about this, that’s why I just share some point of view.