Where to copy trade: eToro v.s. BitYard

Getting started to invest could be difficult for a beginner, especially when you lack background knowledge. Realizing the importance of investing is only the first step. To choose the ones that are suitable of your own choice from various asset types could take a while. Whether to acquire more relevant knowledge first before starting trading is another factor to consider about. The journey seems endless, with countless research to do and many choices to make. Among the trading tools on the market, copy trading is one of the methods especially designed for beginners.
Copy trading is a trending tool on the crypto market. As its name suggests, copy trading means to directly copy trading strategies or positions of other traders, usually the experienced ones. This allows beginners to start trading even before becoming an expert in the field. Nor do you need to know much about cryptocurrency. By observing and analyzing professional traders’ trading strategies, it gives you an opportunity to learn from the history transactions, incorporate different trading styles and create your own. With the usage of copy trading, you don’t need to make transactions manually anymore-which helps save plenty of time. Furthermore, because not all traders are experts in all types of trading strategies or commodities on the market, copy trade gathers experts in their respective area of expertise, helping users to explore as many assets and trading styles as possible. 
More and more platforms are thinking to include copy trading as an option. Currently, there are a few platforms on the market that have launched copy trade system, including eToro, ZuluTrade, and BitYard. In this article, we will be focusing on comparing eToro and BitYard.
eToro was founded in 2007, and it originally started to be a FX trading platform. However, as the platform grows, it includes more and more assets such as stocks, commodities, indices, and cryptocurrency for global traders. Now, eToro presents itself as a social trading platform. It’s also a platform that highly values security. It is regulated by FCA in the United Kingdom, CySEC, ASIC, and MiFID. 
On a first look, the layout of the CopyTrader feature on eToro is similar to a social networking platform. Searching for professional traders becomes interesting, as if you were looking for new friends on social platforms. By entering the personal webpage of a trader, posts written by the traders are shown and anyone can reply to the posts. Next, a detailed analysis of the trader’s history transactions is also available on the personal page for your reference. To become an excellent trader, a few important things to keep in mind include: search information, analyze the data and make correct judgements. In order to develop a good sense of judgement and good analytical skills, choosing a cost-effective tool when you trade becomes crucial. In terms of helping users to distinguish possible risk level of copying an expert’s trading, eToro adopts a measurement on a scale from 1 to 10, where 1 stands for the lowest possible risk and 10 the highest.
EToro’s interface is highly similar to a top-notch social platform. Using eToro is just like using Facebook. Users are able to casually share investing ideas with others including raising questions, giving advices, and analyzing opinions. This allows users to quickly absorb other peoples’ experiences and consequently form an active discussion group. As users’ social accounts are tied with transaction accounts, you do not really need to worry about misleading information. This feature makes ‘social trading platform’ a more convincing tag for eToro.

BitYard is a rising cryptocurrency derivative exchange which was established in 2020.
Despite that it’s only been a year since BitYard founded, the platform covers multiple asset types and is growing by leaps and bounds. Currently, BitYard is under regulation of ACRA, MSB, AUSTRAC, and MTR.
Trading can be complicated for a crypto newcomer at first. To help users simplify complex trading, BitYard has been working on improving user interface and the feature of copy trade-in order to bring traders a better trading experience. The overall interface and design of the website/app is easy to navigate, making BitYard a good platform for beginners. Registration takes only a minute and as soon as you own an account, you can conduct demo trades on BitYard without making any deposits. In comparison with eToro, Bityard’s copy trading interface seems to possess with less social interaction functions. However, the entire trading process is easily for anyone to understand. Users only need to complete a few related settings before starting trading.

For a rookie investor, approaching the market under the circumstances of not being familiar with it could be risky. BitYard’s demo trade function helps investors to gain a comprehensive understanding of trading without having to take the risk of losing money. From this point, BitYard is undoubtedly the best platform for novices.
Bityard is also known for providing various cryptocurrency trading and CFD. Accessible options include mainstream crypto as well as popular altcoins. In addition to cryptocurrency, traders can also choose between multiple assets such as forex, indices, and commodity, etc. Furthermore, Bityard provides spot trading of more than 70 cryptocurrencies, making a must-try trading platform for global investors.

In general, eToro and BitYard both have their own advantages on different aspects. When it comes to copy trade, many people think of eToro. Compared to BitYard, eToro has a bigger user base. Moreover, with years of development, the platform’s copy trading function and quality have become more full-fledged. However, BitYard offers more crypto assets. And the demo trade function makes it easy for a newcomer to simulate trading without making a minimum deposit into the account. Among all assets it provides, BitYard particularly focuses on cryptocurrency. Also, BitYard’s trading fees are relatively lower than eToro’s, which makes it a fantastic choice for anyone seeks to invest in cryptocurrency.

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