According to Bitget, 44% of copy trading fans are zoomers
The results of a rather interesting study on the age groups of copy trading investment supporters were recently published by the Bitget exchange.
In October 2023, the cryptocurrency exchange Bitget released the results of a study on social trading conducted on its platform. According to the report, members of Generation Z account for 44% of the total users of Bitget's copy trading service.
The study was based on statistical data collected between January and June 2023. The primary contributors to copy trading volumes were users from Western Europe (31%), East Asia (26%), and Southeast Asia (19%).
Although users from the CIS countries and Africa currently represent a smaller share of copy traders in relative terms, they show the highest interest in copy trading as a means of earning and investing. According to Bitget, the growing popularity of cryptocurrency markets in Africa is attracting many newcomers who view copy trading as a safe entry point into the market.
Social trading as an investment method is particularly popular among users of the exchange belonging to Generation Z, those under 25 years old, who tend to entrust their assets to experienced traders (master traders). This demographic accounts for 44% of all copy traders on the Bitget platform. The second-largest group is users aged 25–35, who make up 32%.
In the first half of 2023, over 109,000 clients earned profits through copy trading, amounting to a total of more than 74 million USDT. On the futures and spot markets, 93% and 82% of copy traders, respectively, achieved profits using the platform.
The most popular assets among copy traders were Bitcoin (BTC), which accounted for 52% of the total trading volume, and Ethereum (ETH), which made up 44%.
“This research highlights trends in global market sentiment. By leveraging advanced technological tools and algorithms, including AI-based solutions, copy trading mechanisms have become accessible, profitable, and reliable tools for users without extensive trading knowledge or experience. We are witnessing social trading’s growing impact on the industry, as more exchange and platform clients join various communities,” commented Gracy Chen, Managing Director of Bitget, on the findings.
Bitget is a cryptocurrency exchange offering spot and futures trading, P2P and OTC deals, as well as passive income opportunities through its Bitget Earn products. The platform has partnered with TradingView and football star Lionel Messi and sponsors the Juventus football club.
Previously, Bitget introduced grid trading using AI algorithms as a new product under its “Trading Bots” suite.