Report highlights Gen Z reliance on copy trading

Copy trading is projected to grow at a compound annual rate of 7.8% and be worth $3.77 billion by 2028 – and Bitget expects much of that growth to come from Generation Z.

Gen Z makes up nearly half of all copy trades

The crypto derivatives company revealed in a recent study that 44% of those using copy trading on its platform belonged to Gen Z.

It also disclosed the strategy to have brought in over $74 million in profit for its users in the first six months of 2023.

Generation Z comprises people born between 1996 and 2010, and according to McKinsey and Company, this generation’s identity has been shaped by the digital age, climate anxiety, a moving financial landscape, and the COVID-19 pandemic.

Bitcoin is most widely copy traded on Bitget

Bitget also divulged in its research that more than half of the copy trades on its platform involved Bitcoin. Ethereum came in at number two with 44%. In the press release, Bitget MD Chen wrote:

The use of advanced tools, including AI, is making strategies such as copy trading both accessible and profitable for users who do not have extensive knowledge of trading.

Other notable revelations the crypto exchange made following its recent survey include:

• Majority of the copy traders (31%) are located in Western Europe
• African users are the most interested in copy trading at 62%
• 72% of the Gen Z traders are attracted to the copy trading strategy

The release of the report coincides with the news that Bitget is being sued by a social media influencer who says that the crypto exchange froze his accounts and destroyed his advisory relationship.