Crypto app has launched a new feature called Whale Baskets. With this feature, users can copy or mirror the stock portfolios of famous investors like Warren Buffett and Bill Ackman.
Meaning if these big investors buy stock of a company, then you can also easily buy the same stock for yourself without research.
Crypto was earlier famous only for crypto trading, but now it is also offering the option of normal stocks, so that investing becomes easy for everyone.
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Crypto Enters Stock Copy Trading Market
Crypto Whale Baskets tool gives you a special list of high profile investors like Warren Buffett, Nancy Pelosi, Dan Meuser, and Bill Ackman. All of these stocks are publicly shared and you can copy them.
Select a whale and the app will create your portfolio just like that investor’s. You’ll get notifications when they change their stocks. You can also update your portfolio with just a tap.
This feature has more than 10 investors to choose from. You can start as low as $50.
This tool is funded with either USD or crypto. And if you want, you can also use securities lending programs which can give you extra money.
The best part, there is no subscription fee in this app to see investor strategies.
Copy Trading Gains Beyond Crypto
Nowadays the trend of copy trading and social trading is growing fast. Earlier it was more popular in the crypto market, but now people in stocks are also liking it especially those who want to invest in an easy way.
According to research, the world’s social trading market can reach $3.77 billion by 2028. This market is growing by approximately 7.8% every year. And the share of stocks platforms is also increasing rapidly in this.
Mixed Results and Risks in Copy Trading
But it should also be kept in mind that copy trading does not always yield good results. According to research, when people copy top traders, they often take too much risk, which can also cause losses.
Studies also say that many users copy late especially in stocks where trades are made public after every 3 months. This can lead to low returns.
Still, tools like Whale Baskets can be useful for those who prefer long-term investing and do not want to do their own research.
This feature shows that public figures like Nancy Pelosi and Dan Messer are now also taking interest in the trades of Congress – which is called Congress trading. Nowadays many online platforms track the financial data of lawmakers, due to which this trend is becoming more popular.
Why This Matters
Whale Baskets is the first official feature of Crypto.com that introduces stock copy trading in the app. Earlier this app was famous only for crypto trading, but now it has also entered the growing market of stocks and social trading.
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People Also Ask:
What kind of people is Whale Basket best for?
It is best for people who are passive investors who do not want to do their own research and only like to follow the long-term plans of big and famous investors.
Can one earn extra money (yield) from Whale Basket?
Yes, users can join securities lending program in which you can earn extra yield or profit on your investments.
What type of stocks are there in Whale Basket portfolios?
It contains stocks of investors who invest in sectors like tech, finance, consumer goods based on their latest public data.
What happens if a whale investor sells his stock?
You get a notification when a change occurs. You can decide whether you want to follow the same trade or not it is up to you to buy or sell.
