The top cryptocurrency exchange in the world, Bitget, has published study findings related to the copy and social trading phenomena on its site. The research shows that users in Generation Z make up 44% of all users of copy trading, showing the most interest in this trading approach. Older cryptocurrency traders also utilise copy trading to obtain market trends and insights.

A group of active cryptocurrency traders who completed trades all year long were considered in Bitget's research. More than 109,000 followers made money in the first half of 2023 by using copy trading strategies, which translated into total gains of more than 74 million USDT. An astonishing 93% of those that used copied methods for futures trading during this time saw profits. The most often exchanged asset through copy trading was found to be bitcoin (52%), followed by ether (44%).

Geographically speaking, the majority of Bitget's copy merchants are based in South-east Asia, East Asia, and Western Europe. With 31% of all copy trade users, Western Europe has the highest proportion among these regions, closely followed by East Asia (26%), South-east Asia (19%), and Asia (26%) respectively. African users make up a small part of users, but they show the highest levels of interest due to the continent's developing cryptocurrency markets, where users are frequently less experienced and more likely to use copy trading as a starting point.

Gen Z users, who increasingly prefer social media to traditional media, their friends, and family, are particularly fond of the copy trading option when it comes to demographics. Under-25 crypto fans make up 44% of all copy traders on the platform, with the 25–35 age bracket coming in second at 32%.

17% of users are between the ages of 35 and 55, while 7% are above 55. Although there are fewer senior copy traders, it is important to note that they are quite interested in copy trading. The copy trading feature of Bitget, which is also the main reason they use Bitget, attracted 72% of traders under 25 who expressed interest in it, according to the statistics. The percentage rose to 65% in the 55–64 age range at the same time. To get financial tips, older cryptocurrency traders frequently employ copy trading techniques.

The study by Bitget supports the findings recently revealed in a report by The Insight Partners, which states that the social trading industry is growing at around 7.8% CAGR, and is expected to achieve a mark of US$3.77 billion by 2028. Such growth from US$2.2 in 2021 underscores the importance of the exchange’s engagement in advancing the popularity of copy trading.

Read the full version of the Bitget Copy Trading study.

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