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Bitget Unveils New Smart Copy Mode to Help Novice Crypto Traders

Finance Magnates

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The crypto exchange Bitget has introduced an upgraded copy trading system that will allow users to allocate investments and execute trades based on their total assets, the company announced today (Wednesday).

Bitget Upgrades Copy Trading Feature to Allow Asset-Based Investing

The new "smart copy mode" enables followers of professional crypto traders on the platform to enter an investment amount relative to their total assets rather than a fixed sum. The feature aims to help novice traders invest more strategically by simplifying the copy trading process.

Bitget has also launched independent futures copy trading accounts, separate from users' main futures accounts. The company states this will better protect assets, as liquidations or losses on one account will not affect the other.

According to Bitget's Managing Director, Gracy Chen, the upgrades come in response to user feedback and the company's own analysis. "Our ultimate goal is to make Bitget the most user-focused, convenient and trader-friendly platform on the market."

Copy trading services are a crucial part of the exchange's offerings, especiallypopular among Generation Z, who make up nearly half of all enthusiasts of this form of investing. Independent reports suggest that copy and social trading are expected to become a nearly $4 billion industry within the next four years.

Finance Magnates reported last week that Bitget's crypto wallet service introduced a new inscription system named GetScribe. With this move, Bitget Wallet aims to improve access to omnichain inscriptions by offering inscription management across 19 different blockchains.

Bitget’s User Base Reaches 20 Million

According to a report published by the exchange at the beginning of 2024, last year saw an increase of 94% in crypto spot volumes.

"Though originally focused on futures products, we reopened the spot market," said Chen. "In 2023, we went all-in in spot trading and our efforts have paid off significantly."

Bitget additionally experienced more than a doubling of its user base from 8 million to 20 million in 2023. The company has significantly increased its employment, currently exceeding 1,500 employees.

This article was written by Damian Chmiel at www.financemagnates.com.
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