What is Social Trading in Cryptocurrency?

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Cryptocurrencies are garnering the interest of new generations and millennials. According to Charles Schwab’s 2020 report, millennials allocated more money to Bitcoins than any other investments. Also, the trading volume of Bitcoin is surging, with Bitcoin registering trading volumes twice as much as Apple’s stock. The price of Bitcoin has also become stable with improved liquidity, which shows that cryptocurrencies are maturing. Yet, cryptocurrencies have lesser penetration rates in many economies and, therefore, have an immense potential to grow, with many untapped opportunities.

Many inexperienced and novice cryptocurrency traders find it difficult to trade profitably because of the complex and archaic trading platforms that are cluttered with jargon and data. New traders require a simple, neat, and user-friendly platform to fulfill their cryptocurrency trading needs and flatten the learning curve for them.

While many of the traders learn trading with the help of demo accounts and other theoretical study material, when they start trading in the real market with real money, they struggle to trade profitably. To trade profitably in the competitive market of cryptocurrency trading, new traders should emulate the strategies employed by the experienced traders. That’s where social trading comes into play.

Kikitrade, a cryptocurrency trading platform, is a pioneer in social trading. The trading platform is designed keeping in view the needs of the new traders who want to trade cryptocurrency using a simple and easy-to-use trading platform. Kikitrade cryptocurrency trading platform is ideal for those traders who want to mimic the trading strategies of the experienced traders and replicate their performance and returns.

Kikitrade allows its users to interact with each other through various social activities on its platform. Users can discuss hot topics and participate in different polls on the social feed section of the platform. In the news section, the latest news about cryptocurrencies is continuously updated. In the data section, users can see interactive charts and vital data like long/short ratio, liquidation analysis, BTC/ETH interest, sentiment indicator, BTC vs NASDAQ, etc.

Kikitrade’s social trading also allows pro-traders to become heroes on the trading platform to allow other traders to follow them and copy their trades against a commission. The heroes’ profiles, along with their trading positions, win-loss ratios, trading history, and returns, are shown in their profiles. Traders have the option to appoint ‘heroes’ to trade on their behalf with complete transparency and control. The heroes can build their profiles and portfolio by attaining maximum clients and grow their assets under management while setting their own fees for their services.

Conclusion:

Kikitrade’s cryptocurrency trading platform offers many other benefits as well along with its social trading capabilities. It is a unique platform with numerous social tools for new and inexperienced traders as well as pro traders to collaborate with each other and form a win-win relationship. With Kikitrade’s social trading tools, beginner traders can feel completely at ease trading cryptocurrency using the platform, thanks to its user-friendly user interface.

Download KikiTrade and start social trading today!
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