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Outperform the Crypto market with PrimeXBT Copy Trading

By Dirk Hartig – PrimeXBT

 

The Crypto market has been on a wild ride in 2023. Bitcoin is down over 11% in August alone. Ethereum has fallen 12% by comparison. And other major Cryptocurrencies like Dogecoin and Solana have crashed even further, with August losses of 18% and 17% respectively.

Even traditional markets are feeling the pain. The S&P 500 is down nearly 2% in August. The Nasdaq has shed over 1%. And the Dow Jones Industrial Average has tumbled more than 2% lower since August 1st.

Yet amidst the carnage, there are still traders generating outsized returns. How? By using the power of Copy Trading on PrimeXBT. Even with Bitcoin, Ethereum, and major Altcoins floundering, one top trader on PrimeXBT generated 209% returns in August. Another newcomer did even better, producing over 311% profits this month.

Putting the performance into perspective

To put these gains into perspective, let's compare them to the S&P 500 – a broad benchmark of the overall US Stock market. The S&P 500 is down just 1.84% in August. That's not a huge loss. Many investors would be satisfied limiting declines to less than 2% given the volatile environment.

Yet, the best PrimeXBT copy traders didn't just avoid losses. They generated triple-digit returns in the same timeframe. The top copy trader "MG Trading" beat the S&P 500 by over 210% in August, with 209% gains. And the 311% returns from newcomer "MOONINCOMING V" absolutely crushed the benchmark by almost 313%.

This massive outperformance really highlights the power of Copy Trading. While buy and hold investors accept meager Stock market returns, skilled Crypto traders on PrimeXBT are earning life-changing profits. And thanks to the Copy Trading module, anyone can duplicate these results.

How PrimeXBT Copy Trading works

Covesting Copy Trading on PrimeXBT couldn't be easier. The platform shows real-time stats for each available strategy.

Here's some of the key August data displayed for top traders:

• "MG Trading" has earned 209% returns in August 2023.
• "StoneHedge" has generated 204% monthly profits in August 2023.
• "Bitenergy2" has produced 145% gains over the past 30 days in August.
• "pc426" has earned 76% returns in August 2023.
• "Price action007" has achieved 63% gains in August.

Using this info, traders can pick the most successful August Strategy Providers to follow. There's also ratings out of five stars, so you can filter to only the best of the best.

Once you select a strategy, simply choose how much to allocate. All future trades will be mirrored based on your proportional follow size. For example, with 100x leverage, following "MG Trading" with $10 in August could copy $1,000 worth of trades.

Followers can diversify across multiple profitable August strategies. You can also set a stop loss to exit individual followings that hit a drawdown threshold. As providers execute more trades, your account will compound gains or losses equally based on your copied portion. There's no need to actively monitor – just let the profits roll in on autopilot.

Benefits of Crypto Copy Trading

For newbies, Copy Trading provides easy exposure to advanced Crypto trading strategies. Without the skills or experience to trade yourself, you can simply piggyback on those who can. It accelerates your learning curve exponentially. Following profitable copy traders provides fast trading education. You'll quickly pick up strategies, risk management tactics, and more.

Passive income is another major benefit. Instead of actively day trading yourself, Copy Trading generates effortless profits in the background. Your capital goes further by leveraging the size of professional provider accounts. More trading power means bigger returns on your allocated funds.

And you avoid the emotions of opening your own positions. Copy Trading executes all entries and exits automatically based on data-driven analysis. Overall, the above research shows mirroring expert Crypto traders provides higher returns with less time and stress.

How much could you have earned?

To see the August earning potential with 100x Bitcoin leverage, let's look at a few examples:

• Copy trading "MG Trading" with $100 in August could have earned you $20,940 in profits.
• Allocating $500 to "StoneHedge" in August would have grown your account to over $102,000.
• Following "Bitenergy2" with $50 in August could have generated $7,250 in extra gains.
• Putting $25 into "pc426" in August would have earned $1,900.

These real-world examples show how quickly profits can explode by copying the top Covesting traders in August. Even starting very small, the power of leverage supercharges returns.

Outperform the Crypto market in 2023

August 2023 has been brutal on Crypto. Between the longest bear market in Bitcoin ever and collapsing altcoins, buy and hold returns have been dismal. Yet Crypto Copy Trading on

PrimeXBT is multiplying accounts despite the negative August backdrop. Skilled traders are generating triple-digit profits that massively outperform holding coins or passive Index investing.

Covesting Copy Trading provides easy access to these stratospheric returns. Simply follow the proven profitable traders and let your account grow on autopilot. The platform makes it easy to diversify across multiple successful strategies. You can also track detailed performance stats and set stop losses per following.

While Crypto plummets, PrimeXBT traders are crushing benchmarks. Try PrimeXBT Copy Trading today.