Dtrade Is Revolutionizing Crypto Social Trading

2021/02/02 12:00:00

Dtrade Is Revolutionizing Crypto Social Trading

In recent years, more and more regular people have been drawn to both trading and cryptocurrency alike. Statistics have shown especially that younger people are becoming drawn to investment, with interest in doing so rising by 32% since 2018. Furthermore, faith in cryptocurrencies is also rapidly increasing with more than 50% of people trusting them over the risk involved in stocks.

 

One of the inherent risks involved with a group of inexperienced people starting their trading adventure is that these people may not be aware of the intricacies of the market, which can cause them to make the wrong decisions and lose money, particularly in the volatile crypto market. Thankfully, social trading is a feature that can help to mitigate this and make it less likely for inexperienced investors to lose money.

What is Social Trading?

 

Social trading, for those who haven’t come across the term before, is a type of trading where an investor (typically, someone who is new to investment, or does not have the time to constantly monitor the markets) will watch the trading activity of other, more experienced traders and follow their investment strategies to maximize profits and minimize losses. This serves as an effective set of trading wheels until the investor devises their own working strategies.

 

Before the invasion of cryptocurrencies into the public eye, social trading was something that was usually only carried out on stocks and foreign exchange, but now the power of social trading is also being applied to the cryptocurrency market.

The Problems With Social Trading

Social trading presents an interesting debate, as trading platforms that offer these services and the traders being observed are scrutinized to ensure that unscrupulous behavior does not tarnish the cryptocurrency sector and inhibit its current growth. Furthermore, the full story of how successful a trader is, cannot always be shown by their previous trades on a single platform. It is always possible for someone to hit a “gold mine” with flukey trades and future followers of such a trader may be disappointed when their luck runs out.

 

There is also the risk that some traders may forgo their independence and will continue to blindly follow the actions of other traders, rather than creating their own strategies and flourishing as a developing trader.

 

Additionally, with the rapid advancement in solutions for social trading, regulators are regularly having to catch up to create appropriate and robust legal frameworks to ensure that businesses and investors are adequately protected.

How Dtrade is Revolutionising Crypto Social Trading

Dtrade is an up and coming market leader in the arena of crypto trading, particularly with social trading. The platform aims to solve a few of the inherent problems that are faced by social trading platforms.

 

 

Firstly, they’re achieving this by making sure that the traders who can be followed are all model professionals, who know what they are talking about. The company is also attempting to bring these people into the fold of the online community by making them the pillars. These traders are also monitored to ensure that all activity is legal and ethical.

 

Furthermore, the company is going to operate in a way that is completely transparent for its traders, with live trading being recorded and available to view by traders at any given time. This transparency builds trust with customers and also builds upon the integrity of the platform. The platform is specifically built for and to serve its community.

 

 

To add to the reputation of the Dtrade platform, To add to the security of the platform, everything is handled in-house on the platform itself, which means that opaque, untrusted third-party activities cannot infiltrate the trading experience.

Conclusion

As we have discussed, the increasing number of people interested in investing and cryptocurrencies has led to the necessity of crypto social trading as a concept and has exponentially accelerated its growth. Due to this rapid growth, a number of issues have appeared relating to social trading that has to be solved before the concept can be completely adopted within the cryptocurrency market.

 

Thankfully, the Dtrade platform is working to alleviate these issues through the use of transparent, legitimate functionalities and through their work with experienced, professional traders who are not just individuals who have hit a lucky streak.

 

This platform makes it safer for new traders to follow the strategies of others, whilst reducing the risk to their own holdings.

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Patrick Smith United States

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