Bybit Offers a $100 Insurance Coverage to Copy Trading Losses

Copy traders on Bybit have something to celebrate after the exchange announced that it would offer insurance coverage of up to $100 on losses realized through copy trading. According to the announcement, the promotion will end on June 30th, 2024.

So, how can copy traders participate in this promotion? Well, they will need to follow these steps:

1. Look for the “Claim” button on the Bybit copy trading platform to claim insurance coverage.

2. Subscribe to a Master Trader. Before copying their trades, you must hold a copy trading capital of at least $1,000. It is worth mentioning that you can copy trades using both the Advanced Copy Mode and Smart Copy Mode.

3. After allocating capital to your Master Trader, the $100 insurance becomes active.

The Bybit Copy Trading Platform

Bybit launched its copy trading platform in 2021, allowing users to replicate the traders of experts. The exchange lets customers copy trades in the futures and spot markets. As of this writing, the futures market has more than 120 perpetual contracts that users can copy trade, while the spot market has over 250 cryptocurrencies.

Unlike most of its competitors, Bybit does not limit some customers from accessing its copy trading platform based on their location. However, users need at least $10 to start copy trading.

Does Bybit Impose Copy Trading Charges?

Yes! Copy traders must pay trading fees when using Bybit’s copy trading app. Moreover, the exchange collects commissions on profitable trades and distributes them to Master Traders.

What Makes Bybit’s Copy Trading Platform Unique?

Bybit has included multiple features in its copy trading platform to separate it from rivals. For example, trading parameters like take profit and stop loss exist to allow copy traders to manage their risks. Moreover, the copy trading platform comes with a chartroom, which enables Master Traders and their subscribers to interact.

The transaction speed on the Bybit copy trading platform is also exceptional. The exchange can process thousands of copied trades in a second. Finally, copy traders on Bybit are not limited to replicating the trades of one Master Trader at a time. Instead, they are allowed to copy multiple traders simultaneously.