How to Copy Crypto Traders on Bityard Derivatives Exchange

Handy Tips / 10.03.2021

Bitcoin’s recent gains have left many investors seeking more ways to secure ROIs rather than trading cryptocurrency directly. This desire has led to a host of new features emerging across the market. While some investors have the risk appetite to venture into unchartered waters such as DeFi, others have gone through market experts and professional traders, derivatives.

Derivatives have long been the go-to for large financial institutions seeking to trade on the price movements of Bitcoin without actually holding the digital asset directly. For these large organizations, derivatives made perfect sense because they could trade cryptocurrency instruments without risking future regulatory bite back. But what about normal traders? How can they trade derivatives and profit like the pros?

Bityard Has the Answer

Bityard is a top-performing cryptocurrency derivatives exchange that integrates some cool features that help you make the most out of your venture into contract trading. The platform was built from the ground up to allow anyone to trade crypto options with no experience. For example, there are very low entry levels and 24/7 customer support. 

Copy Trading

One of the best features Bityard integrates is copy trading. This helpful protocol allows you to scroll through the top-performing traders on the exchange and select one with a strategy you want to duplicate. You can see many details on these traders, including their past performance, ROIs, and overall risk appetite. In this way, you can find the right fit that meets your overall goals. 

Bityard’s copy trading protocol will automatically duplicate the trades of those you follow. You can watch how they trade and earn while you learn. When you compare this strategy to wandering blindly in the market, it’s easy to see why so many people now utilize these services.

How Bityard Simplifies Copy Trading

Bityard expands on the basic copy trading features in the market in various ways. Primarily, you have far more trading options in regards to basic crypto exchanges. Derivatives can be traded on margin with leverage, and you can short these markets. Margin and leveraged positions provide you with higher ROI potential. 

Of course, new traders should be careful using this feature, but you get new users earning professional trading returns and learning when you couple it with a copy trading platform. Bityard offers an excellent selection of leverage and margin trading options. Specifically, you can leverage your trades by 100x. In the hands of an expert, or someone following them, leveraged trades can be a powerful tool. 

Shorting Derivatives

You also gain a huge benefit in the fact that you can short derivatives on Bityard. Shorting is an advanced trading technique that is used by professionals in nearly every market that offers derivatives. In a short scenario, you purchase an asset right before you believe the market value will drop. You sell the asset at its current market price as soon as you get it to ensure you don’t lose any value.

Once the asset drops, you repurchase the asset, repay the lender, and keep the difference. Like leveraged trading, shorting is not recommended for new users because it opens you up to high loss potential if the asset’s value doesn’t decrease. However, if your account is set to copy trade an expert who has mastered these techniques, you can secure sizable ROIs in market downturns.

Demo Mode

After you have learned your favorite traders’ tactics and methods, you are ready to give it a go yourself. Of course, jumping right into the market isn’t ideal after enjoying the mentoring of experts. Bityard offers a demo mode that allows you to make practice trades using real market statistics. 

Once you’re happy with your performance, you’re ready to go solo. Best of all, you can now offer your trading strategies to others who are new to the market. In this way, Bityard provides a full ecosystem for traders to learn, practice, and give back to the community.

Bityard Risk Assessment

Once you go solo, you can maintain your profitability using the network’s real-time risk management system. This protocol will provide you with valuable data such as your market exposure and positions. This tool helps traders fine-tune their approach to secure more returns.

How Bityard Works

Bityard differs from other exchanges in that it doesn’t rely on an order book to match buyers and sellers. Instead, the platform seeks out pairs with little to no slippage and matches users autonomously. This approach makes the exchange more responsive.

A Regulated Approach to Crypto

Another huge advantage Bityard has over most competitors is that it’s fully regulated. The exchange is regulated in Singapore, Estonia, Australia, and the USA. Bityard is an international market that services over 150 countries at this time. This international approach is evident when you realize the platform is available in eight languages, including English, Russian, Simplified Chinese, Traditional Chinese, Vietnamese, Korean, Japanese, Indonesian, and Portuguese.

Trade Safe

Of course, you don’t obtain regulation in so many countries unless your platform is safe. Bityard integrates corporate-level security mechanisms to provide all users with top-notch protection. The exchange supports the use of 2FA protocols, and you can store and trade directly from select hardware wallets.

How to Copy Trade on Bityard

To get started using Bityard, you will need to complete the registration process. This signup is straightforward and takes around five minutes to complete. You only need to provide your email and complete a caption at this point. 

bityard exchange registration

Next, you will receive a verification code directly to your email. Click this code, and you will be redirected to your account. Clicking the link will redirect you to the password creation page. Once you’re registered, you are ready to fund your account. You have some options here as Bityard supports the top cryptocurrencies.

From there, you will want to hit to click the button labeled Assets on the top of the page. This will pull up a drop-down box with some options: select deposit and the type of asset you wish to add to your account. Now, copy the address for the appropriate option. 

Once you have funds in your account, you will want to select Copy Trade at the top of the exchange. This will take you to the copy trade options page. This section is where you can see top traders and set up your trading preferences. 

The first step is to review each trader and their risk assessment and strategy. Each trader lists items such as their overall strategy, including short-term or long-term, profit rate, and win date. Choose the trader you want to follow and click Follow

copy traders via bityard exchange guide

This will take you to the setup page for the trader. You will need to select between a fixed count or ratio. You also need to decide on the minimum amount to copy trade and the daily copy margin total.

There is a button on the bottom of the page that says Advanced Settings. When you click the triangle, it drops down the MAX position options and your stop loss ratio. Once this is complete, you need to click Copy, and you are ready to start.

how to use copy trading on bityard to copy profitable traders

Bityard Takes Copy Trading to the Next Level

This combination of features and the fact that Bityard is fully regulated make it an excellent option for anyone interested in trading crypto derivatives. The exchange is available online and as a free mobile app on both Apple and Android devices. For these reasons, Bityard will continue to be one of the world’s leading cryptocurrency contract exchanges for the foreseeable future.

David Hamilton aka DavidtheWriter is a long time Bitcoinist and cryptocurrency journalist. Currently, he has over a thousand articles published on blockchain technology. His expertise and experience makes him one of the most reputable writers in the sector.