eToro has launched its new CopyTrader feature in the U.S., enabling do-it-yourself investors to easily copy crypto asset trades made by its top investors. The fintech and blockchain leader allows users to set their account to automatically copy all the trades of top investors on its platform.
eToro unveils CopyTrader feature
To use the new feature, eToro users simply look for the CopyTraders tab in the app, and they will then be given a list of top investors whose portfolios and trades they can choose to automatically match. The platform offers well-known crypto influencers such as Nicholas Merten, who hosts the DataDash channel on YouTube. Welterweight UFC fighter Ben Askren is also among the pool of crypto experts whose portfolio can be matched. Together, Merten and Askren have more than 1 million followers, so eToro selected them specifically for the roles they play in popularizing the crypto ecosystem.
CopyTrader makes it easy for crypto traders to easily trade assets based on what well-known investors are trading. The platform executes trades at the same price in real time and at the same proportional amounts. This enables all eToro users to easily copy the strategies of proven investors. However, users also remain in control of their accounts, so if they aren't seeing the results they want to see, they can change their settings to stop copying other traders whenever they want.
"CopyTrader can help anyone to build their wealth in a simple and transparent way," eToro U.S. Managing Director Guy Hirsch said in a statement. "Users who want to leverage the crypto asset class can now simply look for an investor with a proven track record and just hit copy to execute the same trades automatically. CopyTrader allows users with less time or expertise to connect with users who have demonstrated capabilities in the trading space, all on one platform."
Star-studded ad campaign to promote eToro
eToro partnered with actor Alec Baldwin to promote CopyTrader's launch in the U.S. Through this partnership and Baldwin's appearance on ads to promote the feature, the company looks to continue pushing mainstream crypto adoption.
The platform continues to attract top crypto traders from across the U.S. Those accepted into its Popular Investor program can be compensated for having their portfolios copied by other eToro users. The platform also offers advanced charting tools and social network connections to enable these investors to more fully monetize their trades.
eToro serves over 11 million registered users from more than 140 countries. The platform's users trade more than $1 trillion worth of assets every year and share their insights, real-time track records and portfolios with other users.