Fun

News Feed - 2023-08-04 02:08:00

Jesse Coghlan3 hours agoNearly half of crypto copy traders are Gen Z, says Bitget reportYounger investors are more likely to take part in copy trading or social trading and take advice from social media influencers, according to the crypto exchange.2518 Total views20 Total sharesListen to article 0:00NewsJoin us on social networksGeneration Z crypto investors are more likely to engage in copy trading or social trading, an investment method that involves mirroring someone else"s trades, according to a report from crypto exchange Bitget.


In an Aug. 3 report on copy trading by Bitget, the firm revealed that out of all of itscopy traders, 44% of them were under 25 years of age. This was followed by 25- to 35-year-olds, who accounted for just under one-third of all copy traders.


The older generation, 35- to 55-year-olds, made up 17% of copy traders, while those over 55 were only 7% of the total.Bitget’s copy trade user figures show Gen Z and millenials make up the bulk of users. Source: Bitget


Copy trading or social trading has been offered by exchanges in both traditional stocks and crypto. In the crypto space, it is currently offered by exchanges including eToro, Bybit and MEXC, among others.


Users can choose to use an automated tool that essentially copies positions opened and managed by a chosen individual.


Bitget suggested Gen Z"s inclination to look to social media influencers for investment decisions could explain their affinity towards copy trading.


A January Forbes Advisor survey said around 80% of Gen Z and millennials took financial advice from social media. Half claimed to have made money from the advice received and YouTube, Reddit and TikTok were the most trusted platforms.


Crypto was found as the most popular investment for Gen Z in a May report from the CFA Institute and the Financial Industry Regulatory Authority (FINRA) Foundation.


Some 44% of United States Gen Z investors started with a crypto investment, compared to 35% of millennials. 43% of British and 35% of Canadian Gen Z investors also said crypto was their first investment.


Related:Crypto trader weighs in on possible Bitcoin extinction scenarios


Bitget’s report claimed most of its copy-trading users — nearly a third — were Western European but nearly half hailed from either East or Southeast Asia, its next two largest geographic segments.Bitget’s copy traders by region show Latin Americans were the fourth largest group. Source: Bitget


Despite making up 1% of Bitget’s global copy traders, 62% of African users were interested in copy trading — the highest proportion of any region.


NFT Collector:On-chain music sounds off with latest raise, artistic duo Hackatao find their lane# Adoption# Report# Social Media# Trading# social tradingAdd reactionAdd reactionRelated NewsHow to earn passive income with peer-to-peer lendingHow will Bitcoin halving affect BTC price, and is DeFi dead?US ‘dominates’ crypto startup funding in Q2: ReportTikTok launches text posts feature to rival Twitter and ThreadsBulls make money, bears make money, pigs get slaughteredTwitter Community Notes hits 44 countries as Elon Musk seeks ‘truth’ for X

News Feed

Binance CEO: We Don’t See a Viable Business in India
Binance CEO: We Don"t See a Viable Business in India Binance CEO Changpeng Zhao (CZ) says India is currently not a viable business environment for his cryptocurrency exchange, citi
Avalanche to reward devs building layer-1 chains with $40M grant
Ezra Reguerra11 hours agoAvalanche to reward devs building layer-1 chains with $40M grantAn Avalanche spokesperson told Cointelegraph that the grant program will reward developers who create layer-1 chains and critical t
Stacks (STX) price outperforms the market as interest in layer-2 Bitcoin grows
Nancy Lubale5 hours agoStacks (STX) price outperforms the market as interest in layer-2 Bitcoin growsSTX emerges as a top performer as market participants’ interest in layer-2 Bitcoin continues to grow.542 Total views2
Bitcoin, Ethereum Technical Analysis: BTC Volatility Continues Heading Into the Weekend
Bitcoin, Ethereum Technical Analysis: BTC Volatility Continues Heading Into the Weekend Following a strong start to the week, crypto markets are submerged under a red wave as we he
UAE Central Bank Unveils Plan to Launch Digital Currency
UAE Central Bank Unveils Plan to Launch Digital Currency The Central Bank of the United Arab Emirates has unveiled its plan to launch a digital currency as part
Billionaire David Rubenstein Bullish on Crypto, Optimistic About Regulation
Billionaire David Rubenstein Bullish on Crypto, Optimistic About Regulation Billionaire David Rubenstein, Carlyle Group’s founder, believes that U.S. lawmakers will not push
Robert Kiyosaki Says Bitcoin Isn’t the Problem — Calls Former FTX CEO the ‘Bernie Madoff of Crypto’
Robert Kiyosaki Says Bitcoin Isn"t the Problem — Calls Former FTX CEO the "Bernie Madoff of Crypto" The famous author of the best-selling book Rich Dad Poor Dad, Robert Kiyosaki,
Vitalik Buterin endorses TiTok AI for onchain image storage
Josh O"Sullivan12 hours agoVitalik Buterin endorses TiTok AI for onchain image storageTiTok AI, a new method for efficient onchain image compression, could be a useful tool for blockchain applications.3086 Total views3 T
African Crypto Startup, Basqet Launches Payment Gateway to Enable Businesses Accept Bitcoin – Goes Live With 118 Businesses and $1.3 Million in Transaction Volume
African Crypto Startup, Basqet Launches Payment Gateway to Enable Businesses Accept Bitcoin - Goes Live With 118 Businesses and $1.3 Million in Transaction Volume press release PRES
Robinhood launches crypto wallet for Android users
Zhiyuan Sun5 hours agoRobinhood launches crypto wallet for Android usersThe brokerage firm currently has $14.7 billion in crypto under custody.533 Total views9 Total sharesListen to article 0:00NewsOwn this piece of cryp
Defi Platform Bzx Recovers Stolen $8.1 Million From Hacker
Defi Platform Bzx Recovers Stolen $8.1 Million From HackerDecentalized finance (defi) protocol Bzx has recovered the $8.1 million it lost to a hacker a few days ago. The company cla
Tom Blackstone5 hours agoAstrology NFT project ‘Lucky Star Currency’ rugged for over $1m - CertikThe deployer account for LSC drained over $1 million in tokens from the project, then swapped them to BUSD using Pancak