Earlier this year, the crypto industry grew to proportions many did not think were possible, with the total market cap exceeding $2 trillion. Crypto trends like DeFi are stronger than ever, and 2021 even brought a new one — the NFT market. All of this combined started bringing in an entire army of new investors who kept pushing the figures further and further up.
With the industry’s growth, new developers came as well, rolling out new projects, new features for existing projects, and new improvements to existing features. But, as it is often the case, once the innovative wave starts, it doesn’t stop for a long time, and there have been numerous new projects recently with massive amounts of potential.
One of the most notable ones is Decoin exchange’s newly-launched Dtrade feature, which promises to revolutionize social trading. As such, it also stands as one of the best gateways for new traders who wish to enter the crypto industry and reduce the risks to a minimum.
How does Dtrade’s Social Trading Reduce Trading Risks?
First things first — Dtrade is a brand new, highly innovative, and 100% transparent social trading platform that aims to disrupt crypto trading as most people know it. Of course, social trading itself is not the innovative part. It has existed for a long time, even in traditional finance, and it helped new traders get into trading by copying experts with a high success rate.
The problem with the old social trading, however, is that newcomers can’t really be certain which traders are true professionals, and which ones got to the top of the list thanks to a lucky streak. Of course, relying on luck in trading is a bad idea. Most people will advise new traders not to try trading unless they have educated themselves enough to know what they are doing.
But, there are always those who ignore this advice, and have a lucky streak. While luck is not something that traders should rely on, having a lucky break a few times in a row still does happen, and the trouble rises when newcomers start thinking that the lucky trader is a reliable person to copy.
How Dtrade Changes Things
Dtrade fights against this by increasing the transparency levels around these professionals who offer to act as guides for newcomers. Unlike other platforms that offer social trading, it provides traders with more than a simple rank list. It offers a deep insight into the top-ranking traders’ activities and actions, and it allows novices to understand why traders made the moves they made.
It might seem like a simple and small difference, but it can change the way social trading works, simply by improving communication and increasing transparency. It allows traders to watch live sessions, where professionals make and explain their moves, and it also lets novices trade at the same time, which allows them to copy those moves as professionals themselves make them.
Of course, there is also an auto-trade feature that is available for specific traders as they trade live, and all of it combined offers new crypto traders to earn money from the cryptocurrency industry even without knowing what they are doing. And, of course, professionals are heavily incentivized to be at their best, and help their less experienced colleagues.
The platform is also very easy to use, so that new traders could easily navigate it and use it. Its developers are well aware of the fact that the crypto industry can be intimidating on its own, which is why they specifically designed Dtrade not to be.
Andrew is a writer that does most of his work on cryptocurrency-related topics. While he’s primarily interested in Bitcoin, he also follows major altcoins and the innovative ideas that new cryptocurrency and blockchain projects are bringing to the table.