Cryptocurrency exchange Bitget has released a report on social trading activity on its platform. According to the research, individuals from Generation Z constitute 44% of the total user base engaging in copy trading on the service.

The report covers data from the first half of 2023. The primary trading volumes from copy traders are attributed to regions including Western Europe (31%), East Asia (26%), and Southeast Asia (19%).

It’s important to highlight that, while there are fewer older copy traders, their enthusiasm for copy trading remains notable – trailing only behind traders under 25 from Generation Z. Specifically, a remarkable 72% of traders under 25 have expressed keen interest in Bitget’s copy trading platform, which stands as their primary motive for using Bitget. Simultaneously, this figure reaches 65% within the 55-64 age bracket. The younger generation embraces copy trading with considerable openness, largely driven by their curiosity to explore diverse cryptocurrency investment avenues. In contrast, older users, if they develop an interest in crypto investment, also seek to tap into professional trader guidance and strategies through copy trading, facilitating a smoother initiation into the field.

Perspectives of the industry

The copy trading sector is on the brink of experiencing substantial expansion in the forthcoming years, driven by a multitude of factors. To begin with, the escalating influx of new cryptocurrency enthusiasts entering the market is anticipated to amplify the demand for copy trading services. Often lacking experience in trading, these users are in search of dependable and efficient tools that offer swift and convenient access to the financial markets.

Furthermore, the surging desire for a social dimension within trading is playing a pivotal role in propelling the growth of the copy trading industry. Traders are increasingly in pursuit of platforms that not only enable the replication of expert trades but also cultivate a sense of community and facilitate interaction among users.

Moreover, the ever-evolving landscape of the cryptocurrency market, marked by frequent fluctuations and uncertainty, is expected to heighten the requirement for copy trading as a strategy to navigate the market’s volatility. This approach allows for risk mitigation by following the proven strategies of experienced professionals.

As per a report from The Insight Partners, the social trading sector is forecasted to achieve a compounded annual growth rate of 7.8%, ultimately reaching a market size of $3.77 billion by 2028. The sector’s market size was recorded at $2.2 billion by the end of 2021, signifying substantial growth potential in the forthcoming years.

sourse – https://www.bitget.com/blog/articles/bitget-copy-trading-report