Social Media-Influenced Gen Z Crypto Investors Copy Trade

Z Generation According to a report from cryptocurrency exchange Bitget, crypto investors are more likely to engage in copy trading or social trading, an investment method that entails mirroring someone else’s trades.

Bitget disclosed in a report on copy trading released on August 3 that 44 percent of its copy traders were under the age of 25.

Following this were those between the ages of 25 and 35, who made up just under one-third of all copy merchants. 17% of copy traders were between the ages of 35 and 55, while only 7% were over the age of 55.

Bitget’s copy trade user figures show Gen Z and millenials make up the bulk of users. Source: Bitget

Exchanges offer copy trading or social trading for both traditional equities and cryptocurrencies. In the crypto space, it is presently available on exchanges such as eToro, Bybit, and MEXC.

Users have the option to utilize an automated tool that duplicates the opened and managed positions of a specified individual.

Bitget suggested that Generation Z’s propensity to seek investment advice from social media influencers could explain their affinity for copy trading.

According to a January survey by Forbes Advisor, approximately 80% of Gen Z and millennials received financial advice from social media.

The most trusted platforms were YouTube, Reddit, and TikTok, with YouTube, Reddit, and TikTok being the most profitable.

Cryptocurrency is the most well-liked investment among millennials, according to a report from the CFA Institute and the Financial Industry Regulatory Authority (FINRA) Foundation published in May.

44% of Gen Z investors in the United States began with crypto investments, compared to 35% of millennials. Additionally, 43% of British and 35% of Canadian Gen Z investors stated that cryptocurrency was their first investment.

According to Bitget’s report, nearly a third of its copy-trading users were from Western Europe, but nearly half were from 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

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