Cryptocurrencies and the blockchain technology may have been in existence for over a decade now; some people are yet to benefit from this decentralized financial infrastructure. While there are different ways to access the crypto ecosystem, online brokers present a more efficient and cost-effective way to harness the benefits laden in cryptocurrencies and its associated offerings.
ZuluTrade is one of the best online brokers you can partner with to benefit from cryptocurrencies. In case you don’t know about ZuluTrade and the various services they offer, you can read the ZuluTrade review to have a broad understanding of how they operate. The review covers everything you need to know about them. However, in this guide, we would be taking a closer look at one of ZuluTrade’s offerings – ZuluTrade Cryptocurrency autotrade.
At the end of this guide, among others, you will learn things like the cryptocurrencies supported, how ZuluTrade crypto trade works, as well as how to choose an expert crypto trader to copy. But before we go too deep, let’s quickly define what a crypto asset is for the benefit of those who may not know what it means.
What Is a Crypto Asset?
At its very core, crypto assets are a part of digital currencies. On the other hand, digital currencies are intangible currencies that we cannot touch or feel. While some digital currencies are regulated, some are highly unregulated. Regulation here means having absolute control by the government. Crypto assets come in two different forms, including:
- Cryptocurrencies: These are virtual currencies that can be transferred from one electronic wallet to the other. They are usually secured by cryptography.
- Crypto-cross: These are macro-categories of crypto assets which consists of – Crypto/Crypto (the conversion of one cryptocurrency to another cryptocurrency), Crypto/Fiat (the conversion of cryptocurrencies to Central bank-issued notes), and Crypto/Other Assets (the exchange of cryptocurrencies for other assets like properties, stocks, shares, bonds, gold and commodities)
ZuluTrade Crypto Autotrade: Cryptocurrencies Available
Being one of the leading online brokers offering crypto autotrade services, ZuluTrade supports autotrade in Bitcoin Cash (BCH), Litecoin (LTC), Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP).
How Does The ZuluTrade Crypto Autotrade Work?
Zulutrade cryptocurrency autotrade is the practice of using computer programs or software to trade the crypto market on auto-pilot. Tools like signals and filters help the trading bot to make perfect decisions. Zulutrade uses copy-traders and signal providers to make this happen. In essence, ZuluTrade crypto autotrade works with the help of copy-traders and signal providers.
There are multiple crypto trading options on the ZuluTrade platform which traders can have access to. Here is how ZuluTrade crypto autotrade works:
- The first step is for traders to connect their broker with Zulutrade. The traders would need to show their performance and with consistency in results, which will automatically feature them on the list of traders to copy.
- New investors can then copy the trading strategies of these expert traders to make profits.
- Once an investor makes a profit, the trader that suggested the trading strategies would be compensated.
- Only brokers that are supported by ZuluTrade can work If you link a broker that is not supported by ZuluTrade, you would be limited to the number of cryptos you can copy.
How To Choose A Crypto Trader To Copy
Choosing the right signal provider to copy is very important if you must make any profit as a trader. If you choose an expert who understands the dynamics of the market, you are likely to make potential gains. You may lose your trading capital if you choose a signal provider that doesn’t understand how the market works.
ZuluTrade has an advanced search tool you can leverage to search for the best signal provider. The tool displays signal providers in rank.
- To start, enter a search term that you are looking for the best signal provider.
- Then scan through the list that is displayed on your screen. Choose from the list the ones you feel is the best.
- The highest-ranked providers are best. Other factors to look at before choosing a signal provider are their trading history, the market instruments used, as well as whether or not they have any risk management strategies in place.
Being a beginner, if this process is too complicated for you, you can read our comprehensive guide on how to sort and choose the best ZuluTrade traders. This guide would provide you with the legwork required to choose a profitable signal provider.
Trade Cryptocurrencies In First Person
Trading cryptocurrencies in the first person can be fun and exciting if you understand how the market works. If you don’t understand how the market works, it is advisable to read through different tutorials and blogs on how to trade the crypto market. Remember, the crypto is highly volatile, and you won’t want to lose your hard-earned money.
To help you stay on the top of your game as you trade cryptocurrencies in the first person, here are some tips for you to adhere to:
- Update your knowledge of the crypto space so that you don’t lose your trading capital
- Choose a broker that is supported by ZuluTrade. We mentioned earlier that if you choose a broker that is not compatible with ZuluTrade, you would be limited to your choice of cryptos to copy.
- Be assertive in your trading decision because the market is highly volatile.
- You can trade in the first person and still copy other traders. The bottom line is for you to make profits.
- You can go long/short indiscriminately if the cryptos are CFDs, depending on your choice of broker. The overnight fees would be added.
- Since the crypto spread is generally high when it comes to crypto trading, we advise that you pay maximum attention to spread.
ZuluTrade Cryptocurrency autotrade is the best thing that can happen to you as a crypto trader. Instead of gazing at your computer all day analyzing the market and taking notes of market trends, you can simply copy and use an expert trader’s strategies to help with better trading outcome. The signal provider would be compensated once you open and close a winning trade.
Remember to take advantage of the ZuluTrade advanced search feature to help you find the best signal provider to follow. Using the signals of an expert would enable you to reach your profit potentials on time and with less stress.
ZuluTrade Cryptocurrency FAQs
Is ZuluTrade regulated?
ZuluTrade is regulated by the HCMC in Greece.
How many users are on ZuluTrade?
The broker is a pioneer of copy trading and has over 1 million users.