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An Overview of CopyMe as a Cryptocurrency Trading Platform

 

INTRODUCTION TO COPYME

CopyMe is a new trading platform with which users can copy actions from expert trades in the industry.

CopyMe caters to both the traders and investors looking to capitalise on the trading of cryptocurrency, by allowing users to copy trades from several expert traders and allow investors to follow one’s trades is a great compliment.

CopyMe has been trading markets for many years and recently started trading cryptocurrencies with just as much success. After careful consideration and finding out that there was no way for anyone to copy someone else’s trades, they decided to start developing this trading platform.

The service is still being refined and improved daily, but the platform is already actively connecting traders and investors for their mutual benefit in cryptocurrency trading and investing.

Users are directly connected to the exchanges’ application programming interface (API) key for fast and secure order trade execution.

New investors follow or copy the expert traders by examining their performance over a period. The relevant experienced traders are considered by submitting relevant proof.

Inexperienced users do not have to install any software or integrate with any application programming interface (API).

CopyMe adds to the social trading calculation with strong automation features which let traders set strategies on autopilot although they may follow several top-rated traders and experts and choose to diversify their portfolios to track a variety of strategies. Users can explore the list of top traders until they find those that best match their own risk appetite, trading views, and have the highest success rates. CopyMe selects traders by doing a performance review over a certain period.

Once users have found those traders, they can set their profile to automatically copy any move that the trader makes. The company places a premium on user privacy and security and does not store any users’ currencies, or even charge commissions on completed trades, instead it simply prefers to charge a monthly fee for using the platform.

To be able to capitalise on this system, users must always maintain an active account. Every trader has their performance page for a better understanding of their trading strategy.

You can set your monthly and annual subscription fees. They allow you to share your trading activity with thousands of traders or investors and multiply your trading income. You do not have to install any software or integrate with any API.

Overall, CopyMe offers a unique, high-quality, and effective platform that enables investors and traders to perform trades by experts, enhancing their chances of gaining better returns and trade cryptocurrency with ease and confidence. Transactions are secured in the best way possible, and traders can set their prices, providing them with the chance to multiply their trading income.

Most of the platform’s users prefer to opt for automatic trading, using signals and strategies.

Trading bots make the process to get into the cryptocurrency trading sphere easier to maintain and helps you in your quest to maximise your profits and minimise your losses. It helps to ensure maximum returns and can make an extraordinary portfolio for you.

It remains important to make the right choice while choosing these bots, as the wrong one could be a deal-breaker.

Trading bots make the process to get into the cryptocurrency trading sphere easier to maintain and helps you in your quest to maximise your profits and minimise your losses. It helps to ensure maximum returns and can make an extraordinary portfolio for you.

The bottom line remains that trading in cryptocurrency is a whole new world, and bots are most probably the future to it. Bots can be incredibly helpful, although there remains an ongoing debate about whether they should be permitted in cryptocurrency trading. To maximize the impact of a bot, however, an investor must know how to best utilize the tool. For instance, investors must have the proper accounts set up across digital currency exchanges.

HISTORY AND HEADQUARTERS OF COPYME

The software company that provides the CopyMe platform, which helps traders to copy crypto trading strategies from expert traders in real-time, are based in Kalamazoo, Michigan, USA and was founded in 2017.

FEATURES OF COPYME AS TRADING PLATFORM

CopyMe is a new trading platform that operates in a unique way when performing trades: the platform copies them from expert trades in the industry. Some of the features of the CopyMe trading platform are:

Crypto Signals

In addition to a trader’s strategies and insights, it is considered wise for a person to listen to professionals providing the necessary support.

This means that the management of buying and selling signals can be done with the help of outside integrated signals providers.

Trading Bot

A trader can use his signals and send them, by using indicators or recommendations. Bots are used by traders to take advantage of the cryptocurrency markets that trade 24/7 all over the world.

The advantage bots have over investors is they can react quicker, and most investors also do not have the time to dedicate to always get the best trade, something that bots can do.

One key type of bot is the arbitrage bot, which looks to take advantage of price discrepancies across exchanges.

Cloud-based

CopyMe is an online service and has a cloud presence, which means that it would always be updated and requires no installs or servers on the trader’s side.

Connecting Traders and Investors

The main feature of this platform is that it works to connect traders with investors so that both parties can reciprocally benefit from the transactions that they undertake. While the website is not exactly clear on how these mutual benefits work and what the incentive structure is that is in place, but it is expected that such information will be revealed when users join by opening an account.

Users need to remember that to capitalize on this system, they must always maintain an active account.

Experience in the market

The CopyMe team has been successfully trading cryptocurrencies and other markets for years. Since the cryptocurrency market is volatile and dynamic, even a split second can make the difference between profit and loss, therefore CopyMe enables the trader to make trades by setting a predefined rule set for the bot.

The trading bot determines selling and buying based on the signals that the trader has allowed, which means that an informed decision will be taken after logical thinking, and with analysis from multiple sources.

Keeping your funds safe

CopyMe does not ask a user to send them funds, users keep their trading accounts on the exchange itself. CopyMe gives complete access to a user’s assets and accounts in real-time, there is no need to transfer funds to third-party operators.

Diversification

A user or investor can follow as many expert traders as he would like to diversify his coin trading portfolio. Portfolio diversification is made easy by tracking only expert traders, who were selected according to real performance.

Secure Transactions

CopyMe takes security and privacy seriously and all trading is processed through secure servers and encryption protocols.

Low Cost

There is no profit sharing with CopyMe, a user only pays the set monthly subscription price.

ADVANTAGES OF COPYME

CopyMe offers simple logic-based decisions based on an algorithm formulated for maximum profit. Specific advantages include the following:

  • CopyMe has complete access to its assets and accounts in real-time, with no need to transfer funds to third-party operators
  • Portfolio diversification is made easy by tracking expert traders
  • The system is secure and simple with encryption protocols in place
  • Pricing is reasonable through a monthly subscription fee
  • Orders are executed rapidly resulting in less waiting time
  • 24/7 Customer Support

General advantages of copy trading include the following:

  • Investing with Limited Market Knowledge
  • Saving Time
  • Learn from the Best
  • Customizable Trades According to the Needs of Investors
  • Diversification of Investments
  • An Additional Source of Income for Signal Providers

DISADVANTAGES OF COPYME

  • Information on the cryptocurrency trade and platforms is still foreign to many beginner traders and hard to obtain.
  • Trading in cryptocurrency remains risky and while some trading platforms and bots offer newcomers a chance to try out their strategies by backtesting and paper testing, others move right into business and pose quite a huge risk for inexperienced users.
  • Since it is still in its preliminary stages, there is not a significant online community yet, who can guide inexperienced users, which is found to be lacking.
  • As it has just recently entered the market, information on the platform is still hard to obtain and the bot has not been able yet to manage to carve out a niche for itself amidst its competition.
  • While most trading bots offer newcomers a chance to try out their strategies by backtesting and paper testing, CopyMe moves right into business. This poses quite a huge risk for users who are new to the business and want to learn the ropes before taking the leap.
  • Since it is still in its preliminary stages, there is not a significant online community yet, who can guide inexperienced users, which is found to be lacking.
  • Issues with cryptocurrency bots may occur since many bots only provide marginal returns (even when operating correctly). Many bots are simply not designed well. Investors should remember that the crypto bot space is as unregulated as the cryptocurrency world itself.
  • Successful utilization of a bot requires a deep knowledge of the digital currency markets and an excellent supporting investment plan. For some investors, a bot can be a useful tool to aid in their cryptocurrency trading. For others, though, by the time they have done the work to prepare themselves to adequately use a bot, they may no longer require its services.
  • Social trading may tempt traders to be lazy. It is nice to think that all you must do to be successful is piggyback on a more successful trader, however, there are several reasons as to why that is a bad idea. First, you have not taken the time to evaluate that trader’s system, and you have no idea why you are doing well, or why they are. Second, you may be caught completely off-guard when that trader suddenly starts losing.
  • You may struggle to determine which traders are successful in the first place. After all, you may be able to see their trades, but you certainly do not have a thorough history of their trading activities, outcomes, and all the factors that may have played into their successes or failures.
  • Sharing your trades in real-time may not suit your disposition. Some traders find this nerve-wracking.

PROS AND CONS OF COPYME SUMMARISED

PROS CONS
All transactions are entirely secure Issues with cryptocurrency bots may occur
Experts can set their prices and multiply their trading income It is a relatively new platform
Fast order execution Not a significant online community
No software download is necessary Successful utilization of a bot requires a deep knowledge of the digital currency markets
Traders or investors can copy traders from experts seamlessly There are no free trials available
User-friendly platform They support only three exchanges
Users are in full control of their funds

COST AND FEES OF USING COPYME

There is no charge for setup, maintenance, transaction fees, commissions, or profit-sharing but you must pay a monthly subscription fee for the experts. CopyMe supports Binance, Binance US, and Bitmex.

No, CopyMe does not offer any free trials as of now.

PAYMENT METHODS

At this stage, CopyMe suggest that users should have around $300-$500 in BTC value in their account due to exchanges minimum order requirements and so that they can at least cover the subscription cost every month.

SAFETY AND REGULATION

CopyMe trades directly on the exchange side, making your trades and resources safe and secure.

You have complete control over your funds, stored securely in the supported exchanges.

Copy trading is not illegal as many people believe. It is legal in most countries if you use a regulated broker, like in the USA, Turkey, and Belgium. In Malaysia, however, copy trading is illegal. If you are trading in the forex or crypto markets, make sure forex or crypto trading is legal in your country, even for retail investors.

HOW TO USE COPYME AS A PLATFORM

Once a trader has signed up for a CopyMe account he needs to connect his exchange account via API keys provided to allow the platform to have access and make trades on his behalf.

The platform itself does not get permission to withdraw funds, so a trader’s assets are safe on the exchange. A trader funds his exchange account as he normally would and then he can use whichever features from the platform he would like to automate his crypto trading and maximise his profits.

An investor selects an expert or experts that he wants to copy trades from. Once he is signed up, the only actions needed is to set up his exchange API keys, assign allocation percentage for each expert, and ensure live trading is set to true.

The platform monitors your experts trading activity and as soon as there is a trade, it calculates all the necessary parameters and executes a trade in your exchange account.

Every time there is a trade execution, you will be notified via email with the order details and if there were any errors and how to fix them.

The start-up process can be summarised as follows:

  • Set up exchange apis – You must set up your exchange API keys
  • Allocate funds – You must allocate a percentage of your funds to one or more experts than that
  • Enable Trading – You should not forget to enable live trading
  • Copy Trading Strategy – Now the trading strategy will be copied automatically

CUSTOMER SUPPORT

Potential users need to be assured that the platform they use can offer the necessary support and help whenever they may need it. The ease with which such support teams can be contacted may play a significant role when choosing a platform.

CopyMe provides extensive customer support which can be reached through live chat, email or Twitter and an active Telegram channel.

EDUCATION AND TRAINING

Before starting to trade, potential CopyMe clients should arm themselves with all possible information and trading skills needed to be successful in the world of cryptocurrency trading.

RESEARCH

Successful trading relies heavily on knowledge and understanding of the markets and the platform; therefore, research options form an integral part of its features when choosing the right company to trade with.

SUMMARY

CopyMe helps you to copy trading strategies from experts without installing any additional software or API. All your funds stay within your control and are stored safely in the supported exchange.

Copiers must pay a monthly or annual subscription fee to copy investment strategies from experts and can choose more than one expert. The orders are executed automatically.

CopyMe selects the trading experts by watching their performance and they can set their own individual subscription costs to earn passive income. There is no profit sharing.

 

DISCLAIMER

CopyMe warns potential traders that Forex and Crypto trading always carries a prominent level of risk, therefore may not be suitable for all investors.

CopyMe products are complex instruments and come with a substantial risk of losing money rapidly due to leverage, thus not necessarily suitable for all types of investors.

Potential traders should consider whether they understand how these products work and whether they can afford to take the substantial risk of losing money.

COPYME AT A GLANCE

Broker’s name CopyMe
Headquarters Kalamazoo, Michigan, USA
Year founded 2017
Payment methods BTC
Languages supported on the website English
Customer support languages English
Customer support 24/7

FAQ

What is a crypto trading bot?

Cryptocurrency trading bots are software programmes that can help you automate your trading strategy and take full advantage of the crypto exchange market. Bots can carry out trading actions even while you are sleeping.

Why are crypto trading bots useful?

Crypto trading bots remove fear and emotions from the trading calculation by allowing investors to execute trades based on a predesigned strategy. Bots enable a trader to run his trading plan 24/7 so if you are a part-time cryptocurrency trader or are unable to always stay on top of the market, a bot allows you to trade efficiently without having to dedicate lots of time to market analysis.

Are trading bots legal?

Cryptocurrency trading bots are fully legal but not all brokers allow bot trading. Algorithmic trading is legal, but many people have objections to how automated trading can impact the markets.

Are trading bots safe to use?

CopyMe takes security very seriously and it follows the strictest processes to assure a higher level of security by using encrypted data.

How to choose the best trading bot?

There are specific key functions to remember when choosing a cryptocurrency trading bot. You need to understand functions like reliability, security, profitability, transparency, and ease of use when researching bots.

Do I need to deposit funds?

It is optional and usually depends on the service a trader wants to use.

Are there trading fees charged?

No, CopyMe does not take any fees from your trades. The only fee you need to pay is the one from your enabled exchange, nothing from CopyMe.

What types of payment does CopyMe accept?

Currently, CopyMe accepts BTC.

How much profit can a trader make?

As a platform CopyMe’s role is that of an intermediary, to make it easy to trade or invest for traders, but it cannot assure any profit. Profit depends on the trader’s choices and the market conditions. Crypto markets are very volatile; therefore, traders are always encouraged to only manage the funds they are willing to lose.

Is a trading bot easy to use?

Yes, if you decide to go with Profit Sharing, which is the easiest way to invest, you only need to choose a trader to invest in and allocate the desired amount.

 

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

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