How to Copy Top-Performing Crypto Traders

If you are just getting started in the crypto sphere, you might consider copy trading. From this article, you’ll get to know what it is and how you can benefit from it.

When making their first steps in crypto trading, beginner traders face multiple risks. They lack knowledge and skills. They don’t know how to tell scam coins from assets with good perspectives. To avoid these hazards and maximize your income from the onset, you should consider crypto copy trading. From this article, you will get to know about the essence and benefits of copy trades and how anyone can copy top-performing crypto traders.

How Is Crypto Copy Trading Organized?

Traders should never make spontaneous, random and impulsive decisions. Before buying or selling an asset, you should analyze crypto trading signals. But where can you find secure signals and how to implement them? The smartest way out is to rely on a crypto copy trading platform and copy crypto traders.

This is what you need to start.

Think of which assets you would like to work with and which strategies to stick to.
Choose a crypto copy trading platform where quality strategies are presented.
Create an account on such a platform and link your exchange account.
Choose a strategy to copy and subscribe it.

After these simple steps, all orders within the copied trader’s strategy will be automatically executed on your exchange account.

Copy trading can save you considerable time and effort. The process of copying is automated. You will not need to stay chained to your computer, tracking someone else’s behavior on the market. You get your income and pay for a subscription.

Worth mentioning, that some strategies can be copied for free and it’s a really good option for beginners traders.

Who Is the Target Audience of These Services?

Copy trading is especially popular among three types of users. The first type is busy people who permanently lack time and knowledge. They have some assets — but they need third-party help to manage them.

The second type is novice traders who know what crypto is and how to earn with it but they don’t have enough knowledge to trade on their own. These people prefer to carry out thorough research and investigate other traders’ strategies and then copy them.

The third type is experienced traders who want to get additional income from subscriptions on their strategies.

The frequently asked question is can you make independent decisions while copying? The answer is yes, of course. For instance, you will be able to use the Stop Loss tool. Also, you can open or close positions manually. Besides, you have a right to stop copying someone else’s strategy at any moment.

Copy trading has much in common with social trading, so what is the difference?

Social trading means that users actively exchange their experiences. They discuss their strategies, pros and cons of different assets, policies of crypto exchanges and so on. Copy trading does not necessarily involve any discussion.

What Are the Benefits of Crypto Copy Trading?

Novice traders will minimize their risks and diversify their portfolios. You will be able to learn on the go while making money. You will have enough time for your everyday work, family and any other activities. You will get positive impressions of the crypto market and you will be motivated to develop in this sphere.

For experienced traders, it is a chance to earn extra cash. They can earn by subscriptions to their strategies. Plus, it helps them to promote their personal brands and become influencers or celebrities in their sphere. Which, in turn, leads to more copying traders and greater income.

Does Copy Trading Have Any Disadvantages?

Yes, but they are not too numerous.

You won’t acquire skills and experience while just copy trades. To avoid this you might analyze the market behavior of the more experienced trader.
One day the professional you follow will inevitably make a mistake and you will both lose money.
You will not get 100% of your income because you will need to pay a fee (most likely, a monthly one). Yet this fee will be very small compared to your potential losses in case of solo trading.

As you see, the advantages of copy trading definitely outweigh these insignificant shortcomings.

Final Thoughts

Copy trading is an ideal strategy for people who are just starting to make money on cryptocurrencies. You find a reliable copy trading platform or subscribe to a trader — and you automatically repeat their activities on the exchange. This should help you to get income with minimum effort and at a reasonable fee. You will be able to analyze professionals’ strategies, gain experience and get ready for independent trading.

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New Report Shows: BTC and ETH Investors are Reluctant to Sell

With the lethargic market activity, on-chain analytics provider Glassnode has highlighted the present condition of the Bitcoin network, which appears to be fundamentally strong. Miner accumulation had gradually resumed, according to him, with the miner net position change indicator returning to accumulation.

On a 14-day moving average basis, the last two weeks have seen a more positive recovery to exchange outflows, he added. In its weekly analysis on Monday, Glassnode looked at hodl patterns as well.

Those patterns appear positive since there has been a structural downturn in the sale of younger coins, indicating increasing hodling and dormancy. Supply dynamics and coin maturity, according to the study, convey a reasonably robust signal in either direction.

#Bitcoin and #Ethereum have held into gains last week, despite a slow-down in on-chain activity.

This week, we assess this divergence for both chains, as well as analyse what appears to be a supply squeeze in the making.

Read More in The Week On-chain?

— glassnode (@glassnode) August 30, 2021

Bitcoin and Ethereum Price Statistics

Currently the price of Ethereum is $3,324.49 with the change of 4.41%. In the last 24 hours the trading volume of ETH is $22,508,846,986 along with the market cap of $389,160,448,382. The circulating and total supply of coin is 117,328,800.31 ETH and 117,329,920.

BTC on the other hand, is now trading at $47,319.13, up 1.24 percent, at the time of writing. The coin has a market cap of $890,234,344,472 and a 24-hour volume of $31,481,450,705. For the previous four months, both Bitcoin and Ethereum hodl waves have been in a marked downturn, according to Glassnode.

Coins that are less than three months old are more likely to be spent during periods of high volatility, according to the report.  The market prefers to store these assets rather than spend them, as evidenced by falling hodl waves for these immature coins.

He claims that older coins, such as those that have been in circulation for three months to a year, are statistically less likely to be spent, and that “a rising proportion of them signifies increasing illiquid supply.” The number of non-zero Bitcoin addresses, which continues to rise, is another bullish indicator.

Over 38 million Bitcoin addresses have a balance right now, which is close to the all-time peak in May.  Similarly, Ethereum has reached a new all-time high of 60.7 million addresses with a non-zero balance, setting a new record.

In terms of on-chain supply, Glassnode concluded that things are still positive.

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Ripple Pushes SEC Further Back, as the Defendant Seeks to Reveal SEC’s Employees’ Crypto Holdings

Ripple tries to push SEC further on the back foot, as the defendant files a motion to reveal the agency’s internal crypto policy.

Ripple Seeks to Reveal SEC’s Internal Crypto Policy

According to an Aug 27 tweet by the former Fed prosecutor and Ripple attorney, James. K Filan, the company has recently filed a motion with magistrate judge Sara Netburn, seeking to know whether SEC allowed its employees to hold and trade XRP, before the investigation, concerning the sale of XRPs, was approved in 2018.

#XRPCommunity #SECGov v. #Ripple #XRP Ripple defendants file Motion to Compel the SEC to produce documents showing whether SEC employees were permitted to trade XRP and other digital assets.

— James K. Filan ???? (@FilanLaw) August 27, 2021

Ripple have asserted that the SEC did not impose any restrictions on employees dealing with crypto, until Jan 16th 2018. This, according to the motion, suggests that SEC previously deemed XRP a digital asset, not a security. Ripple further strengthened its argument as it stated:

At all times from 2013 until at least January 19, 2018, SEC employees were free to buy, sell and hold XRP without any restriction by the SEC.

If proven true this could prove to be a major hit to the lawsuit as it clearly explicates the agency’s lack of clarity with regards to crypto industry, generally, and XRP, specifically. Whereas the court has asked the SEC to file a response before Sep 3.

SEC, on the Receiving End

Expect the first couple of months, during which the lawsuit affected Ripple rather terribly, the SEC has remained on the receiving end throughout the court proceedings. Partly due to an ill prepared lawsuit, and partly on account of Ripple’s aggressive and assertive defence.

While Ripple has been granted several discovery motions, the SEC has been able to succeed with very few. Most recently the court denied an SEC  motion that sought to discover the defendant’s internal communications.

On the other hand, earlier this month, Ripple was granted an international motion. The motion had requested the court to compel the state to discover relevant information from Binance’s foreign subsidiary. According to the motion the data would support Ripple’s standing that an overwhelming part of XRP dealings have taken place outside the US and they are not subject to SEC’s regulations

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XDC Hits All Time High as the XinFin Network Gets Global Adoption

XinFin Network gets institutional adoption, as number of factors pushes Network’s token price to an all time high.

In a recent rally after recording the low of $0.0673 on July 20, XDC(Network’s native token) soared by a whopping 190% as it hit a new all time high of $0.1952 on Aug 21.

Though the token is currently down by over 30% from the all time high, there are number of critical factors that have and will continue to influence its price action.

XinFin Adoption in International Market

Undoubtedly the single most critical factor that has lead to XDC’s encouraging price behaviour is XinFin’s adoption on a global stage. In a recent development the Network is added to a consortium (TFD-Trade Finance Distribution) of institutional funders, trade originators and credit issuers, came together to increase transparency and boost automation in risk distribution and asset trading.

Being an enterprise-ready hybrid blockchain solution, developed specifically to optimize cross-border trade and finance the real purpose of the Network is to aide automation and transparency in international business dealings. Chair of the FinTech Committee at ITFA(International Trade and Forfaiting Association), André Casterman said that the addition of XinFin Network to the Association:

enables the organization to bridge the $19 trillion trade finance asset class with any type of funder through tokenization and digital assets.

The integration of Network to the Association is significant because it connects XinFin to some of the worlds giant financial institutions including Standard Bank, Lloyd’s Bank, Commonwealth Bank of Australia, ING Bank, AIG, Santander Asset Management and Texel group.

While the addition of XinFin Network to TFD initiative will help the association to fulfill its objective of creating a tech-based robust trade finance ecosystem, that supports transparency and auto, it will also widen Network’s user base.

Launch of LedgerMail

Aug 4 launch of world first ever decentralized email solution: LedgerMail have also been one of the critical factors that have influenced the XDC’s price in the near past.

The aim of the project is to provide:

highest level of security, privacy, encryption and prevention from email attacks in a decentralized way.

The project is already off to a impressive start as within a week after its launch more than 50,000 people sighed up to it. To promote further engagement Network is offering 10 XDC’s to new sign ups.


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Bitcoin Fall below $48k While Whales Buying Significant Amount of BTC

As the price of bitcoin improves, the biggest investors appear to be increasing their holdings. Since the end of June, cryptocurrency accounts with $50 million or more in bitcoin have steadily increased their purchases.

Whale activity has fluctuated along with the volatility of the digital asset. In March, after a temporary price decrease, whales began to sell off, and they sold at their high in April. From late June to August 22, these huge investors bought over $10 billion worth of stock.

Bitcoin Whales Are Stocking Up

According to recent statistics, Bitcoin whales are stocking up, implying that another huge price increase is “imminent.” Whale investors were last seen doing this in the run-up to Bitcoin’s latest all-time high of $64,000 in mid-April, leading many to believe that another price spike is on the way.

Following a drop below $30K in May, the price of Bitcoin has managed to return to around $50,000. Bitcoin was gaining support on technical charts, according to Alexandra Clark, a sales trader with UK digital asset broker GlobalBlock.

According to him, both Bitcoin’s simple and exponential moving averages provide strong purchase indications.  Additionally, MicroStrategy continues to build its bitcoin portfolio – this support might stabilize the pullback and keep the breakout rise above $45,000.

BTC is currently standing at $47,889.12 with the change of 1.29% along with market cap of $901,562,384,339. In the last 24 hours coin’s trading volume is $28,089,229,199 with circulating supply of 18,801,525.00 BTC.

As one of the most ambitious buyers of Bitcoin, MicroStrategy has acquired more than 100,000 BTC worth around $3 billion. During the summer, the corporation bought 3,900 BTC, contributing to the $10 billion in Bitcoin bought by whale investors between late June and August.

Bitcoin will continue to show a bullish price trend as long as it kept above its 200-day moving average of $45,750, according to Daniela Hathorn, a market analyst for DailyFX. The key issue for buyers looking ahead, according to her, will be for Bitcoin to retain its momentum as it approaches $55,000.

Bitcoin whales are soaring up BTC and stuffing their wallets as the market shows signs of recovering from its recent price drop.

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Ripple Requests Court to Compel SEC to Produce Docs, Suggesting Agency’s Internal Crypto Policy

In a recent filing with the magistrate judge Sara Netburn, Ripple has requested the court to compel SEC for the production of documents, suggesting Fed Agency’s internal crypto policy for its employees.

Ripple Asks for Documents to Strengthen Fair Notice Motion

According to a Friday tweet, by former prosecutor and a member of Ripple’s legal team, James K. Filan Ripple has asked the court to compel SEC to produce documents, relevant to agency internal crypto policy. Filan also tweeted that the court has given SEC the time until Sep 3 to file its response to Ripple’s motion.

The Court has given the SEC until September 3, 2021 to respond to the Ripple defendants’ Motion to Compel regarding whether SEC employees were permitted to trade XRP and other digital assets. It was a Text Only Order (Docket Order), meaning no separate, written Order was filed.

— James K. Filan ???? (@FilanLaw) August 27, 2021

The motion seems to be a part of Ripple’s “fair notice” motion against SEC, that states the agency did not issued any warning to the relevant parties, including defendant, before eventually filing the lawsuit durig late Dec last year.

The motion specifically requests for the fact that whether the SEC employees were allowed to deal with the ETH, BTC, OR XRP. Ripple also demanded SEC to produce annual certifications, showing employee’s crypto holdings.

Asserting that its demand for the production of relevant information is “neither burdensome nor disappropriate” Ripple stated:

Our request is neither burdensome nor disproportionate to the needs of the case. The information sought should be readily available, and appears to have already been reviewed by the SEC’s counsel in the course of our meet and confer process.

SEC’s Pre -Investigation Crypto Policy

Further Ripple lawyer said the fact that SEC did bit impose any restrictions on its employees in dealing with the crypto and ETH, BTC and, XRP did not seem to be on agency’s prohibited assets list, supports defendant argument of “fair notice”.

Moreover Ripple lawyer also said the SEC failed to issues any clarification-on whether agency’s employees were allowed to trade XRP-until March 9, 2019, the date investigating was approved.

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Crypto have a Bright Future & Might be an Effective Payment Option, Says Former Indian Central Banker

Cryptocurrencies, which have yet to attain legal tender status in most areas of the world, have a “potential future” if they are carefully regulated, according to Raghuram Rajan, India’s former governor and former head economist at the International Monetary Fund.

However, even though Rajan sounded optimistic about the well-regulated stable coins, he cautioned that it was not apparent what factors were backing their valuations other than a “heady environment” with cheap monetary policy fueling all asset prices.

On Wednesday, he said this at the Reuters Global Markets Forum. His views differ from those of the Reserve Bank of India’s current administration, which has continuously advocated for a ban on all digital currencies save those issued by the government.

Raghuram Rajan Statement About Cryptocurrency

Instead, central banks, according to Rajan, should concentrate on the financial stability of green investments as well as other concerns such as crypto currencies and cyber security.

Rajan believes that cryptocurrency values will continue to rise, but that they must find appropriate use cases in order to realize their full potential. Other than market exhilaration and cheap monetary policies, he is skeptical of the fundamentals that support cryptocurrency valuations.

Rajan added that “many cryptos are being appreciated not so much as a means of payment, but as assets in their own right right now, in this heady climate with asset prices really rising up”. Stablecoins, or cryptocurrencies pegged to fiat currencies such as the US dollar or the euro, are more attractive to Rajan.

He demanded that proper stablecoin regulations be implemented as soon as possible. The value of cryptos, according to Rajan, should be evaluated in terms of their future utility. He said that I’m not predicting an implosion of Bitcoin any time soon.

But I’ll say that I’ll be much more confident in the value of these cryptos if they find appropriate use cases, and the technology is going in that direction. The Reserve Bank of India, which has long campaigned for a ban on all private virtual currencies, disagrees with Rajan’s position. The law to regulate cryptocurrency in India is presently seeking cabinet approval.

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Crypto Trader Tips: How to Stay Safe in Cryptocurrency?

In 2020, the most common cryptocurrency crime was fraud, followed by theft and ransomware. Hacks linked to decentralised finance (DeFi), which are transactions on platforms that allow lending outside banks, accounted for half of all thefts, or $129 million. According to the Statista report (as of February 2021), there was a rise in cryptocurrency hacks between 2019 and 2020, even though total fraud had fallen significantly from 2019. The average value stolen in 2019 was around 160% greater than in 2020, suggesting that the crypto ecosystem has matured and can better recognise threats.

On this day, the cryptocurrency community continues to expand with over 100 million users. At least 14 million users are projected to be new market players this year, attracted by the recent bull cycle enthusiasm and ready to invest in Bitcoin or other cryptocurrencies in their futures.

With many scam incidents in the crypto world, it is still likely for first-time crypto users to be easy targets. This article hopes to help you with these safety tips to prevent such cyberattacks from happening.

1. Beware of phishing scams.

Phishing is a deceptive effort to gain sensitive information from a user by impersonating a reliable source. Hackers utilise a standard fraud method to create a false, identical replica of a bitcoin exchange or online wallet website. There are five common types of a phishing attack:

Email phishing – Email is used in the majority of phishing assaults. The thief will create a phony domain that looks like a legitimate company and send out hundreds of generic requests.

Whaling – Whaling scams involving false tax returns are becoming more frequent. Criminals prize tax forms because they include a wealth of information such as names, addresses, Social Security numbers, and bank account information.

Spear phishing – It is another type of phishing involving email. Spear phishing is described as malicious emails sent to a specific person by criminals who already have information about the victim, such as name, place of employment, job title, email address, and detailed information about the job description.

Smishing and vishing – Smishing entails thieves sending text messages with similar content to email phishing, and vishing entails a telephone call. The criminal would request payment card information to authenticate the victim’s identification or money to be sent to a “safe” account, which is the criminal’s account.

Angler phishing – Angler phishing is a type of phishing assault that takes place on social media platforms. Angler phishing attacks are initiated using fake business social media profiles compared to traditional phishing, which uses emails mimicking real organisations.

2. Beware of Bitcoin gambling sites.

The privacy that Bitcoin gambling provides appeals to many individuals. This anonymity might be a disadvantage at times. Many Bitcoin gaming sites do not reveal their owner’s name. This makes it difficult to determine whether the platform has the necessary permits.

3. Use a complex password

Surely, you have encountered reminders and suggestions about not using your birthdate or other life events that are easy to remember. This kind of password also makes it easier for a professional hacker to access your account.

It would help if you chose a highly safe password when creating a wallet or a bitcoin exchange account. It can be a mix of numbers, uppercase and lowercase letters, symbols, and other characters. You may also generate a safe password using internet password generators.

4. Enable two-factor authentication (2FA)

Two-factor authentication (2FA), often known as two-step verification or dual-factor authentication, is a security method in which users authenticate their identity using two different authentication factors.

This is an excellent concept for securing cryptocurrency, making it challenging for hackers to access your wallet or exchange account because simply supplying the password isn’t enough. The majority requires Two-factor authentication of exchanges and wallets. It might require a random PIN provided to you via email or SMS.

5. As much as possible, avoid public Wi-Fi

Your browser may be redirected to any page via Wi-Fi. This may be a clone of your exchange or Bitcoin wallet. They will also gather data sent across the network to see if it contains the password you typed. If you use public Wi-Fi to access your wallet, be sure you’re using a Virtual Private Network (VPN).

A VPN creates a private network from a public internet connection, giving you online privacy and anonymity.

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Ripple Brings a Viral Tweet to Support its Stance on XRP’s Legal Nature

In a recent filing by Ripple, the defendant has cited a viral tweet that seems to vindicate its position that the SEC failed to provide any clear direction concerning the nature of the token and take the firm on board before filing the lawsuit.

SEC’s Email to XRP Holder:

Ripple has cited a Dec 24 tweet by the Twitter user named “Frank”. The tweet shows an email, netizen received by the SEC as a response to his query about the nature of the XRP token. Through the email, received by the user on OCT 14, 2020, the Fed Agency told Frank that the SEC has not issued any direction on the matter, and he[the user, Frank] should review chairman Jay Clayton’s statement on cryptocurrencies and ios.

@Ripple @SEC_News @HesterPeirce I have bought XRP early 2018 and wasn’t sure if I bought an security because there was no decision yet. So I asked the SEC here the answer to my concerns. Are they lying to me???? #XRPCommunity @bgarlinghouse @BrianBrooksOCC @galgitron

— frank (@frank14492100) December 24, 2020

Mentioning the tweet and William Hinman’s testimony, Ripple asserted:

This testimony, the documents produced – and potentially the documents that should be produced in discovery as a result of Defendants’ Motion – fatally undermine the SEC’s allegations that the Individual Defendants acted recklessly in failing to recognize Ripple’s sales of XRP as an unregistered securities offering as at that time, securities law experts of Mr. Hinman’s stature (to say nothing of the full Commission) had not reached that conclusion themselves, despite looking into the issue.

Ripple’s “Fair Notice” Motion:

It is to be noted that all of the above-mentioned stuff is part of Ripple’s “fair notice” motion against the SEC. If Ripple proves, beyond the court that the agency failed to provide any notice to the defendant, about the XRP’s nature, before filing the lawsuit on Dec 22, the lawsuit would be tilted drastically in favor of Ripple.

On contrary, if Ripple losses the “fair notice” motion, the lawsuit will continue as usual.

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A joint motion has been filed by Ripple and the SEC to extend the current expert discovery deadline

Ripple and the Securities and Exchange Commission of the United States have filed a joint move with Federal Judge Analisa Torres, requesting that the current expert discovery deadline be extended.

Parties Asked the Court for Brief Extension

On August 31, the deadline for fact discovery in the SEC v. Ripple Labs case approaches. The two parties have now asked the court for a brief extension.

#XRPCommunity #SECGov. v. #Ripple #XRP Parties move jointly for brief extension of fact discovery deadline to take Garlinghouse and Larsen depositions and to extend expert discovery deadline until November 12, 2021.

— James K. Filan ???? (@FilanLaw) August 24, 2021

According to filing the parties will not be able to reasonably complete the previously scheduled depositions of Garlinghouse and Larsen before August 31 due to the unexpected illness of an attorney for one of the parties who was integral to the Larsen deposition, as well as the intervening vacation schedules of other attorneys.

This meant that the fact-finding process would end on August 31st, as planned. However, after the fact discovery deadline, the depositions of Ripple CEO Brad Garlinghouse and the executive chairman will be scheduled for two separate dates in September.

Court previous extensions

The court had already extended the fact and discovery deadlines by two months, from July 2 to August 31 for fact discovery and August 16 to October 15 for expert discovery.

However, if the deposition is not completed for the aforementioned reasons, the expert reports will be delayed as well. Expert reports were due on September 10 under the present schedule.

The content of the parties’ planned expert reports could be influenced by their deposition testimony. As a result, the parties respectfully request that expert discovery be extended until November 12 by the Court, according to filing.

The depositions will take place in September, assuming the court grants an extension, and may have an impact on the contents of the individual parties’ remarks. The lawsuit’s timeframe is likely to be reset as a result of these developments.

Despite the parties’ explanations for the request for a delay, the community has raised concerns about private motivations. According to Attorney Filan, the ambiguity in the file was kept as a “professional courtesy.”

Hey Eoin – We don’t know who is sick or which team that attorney is on. It’s purposefully drafted so we can’t tell if it’s a Ripple side lawyer or an SEC side lawyer. So it’s a professional courtesy. While this is a battle, the lawyers are still professional with each other.

— James K. Filan ???? (@FilanLaw) August 24, 2021

The SEC and Ripple are clearly still pursuing each other, demanding records, and other proof. Both Ripple and the SEC have been working to improve their legal standing. As time passes, the possibilities appear to be slimming. It will be interesting to see how it develops in the future.

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