Trading cryptocurrencies requires extensive knowledge and expertise. You need to have the right combination of skills to read charts, understand and analyze trends, read whitepapers and analyze reports. Current events and news also have a big part to play in influencing market trends so investors also need to keep an eye on industry news and events happening throughout the crypto industry. Unfortunately, many new traders in the market lack the expertise to gauge the markets and have a higher chance of losing their hard-earned money to scams or poor trading strategies. This is where the concept of ‘Social Trading’ comes to the rescue.
What is Social Trading?
Social trading is the concept of bringing a social element to trading. While this can take many forms, the most popular is connecting traders who share different strategies and follow the actions of other traders on the same platform.
Currently, the most popular social trading services are eToro, ZuluTrade, and Shrimpy. These trading platforms sustain 13.1M, 577K, and 316k monthly visits respectively. But in this article, I will discuss about a new cryptocurrency social trading platform project, named Tycoon.
About Tycoon
Tycoon is a new social trading platform project which facilitates copy trading. The platform will serve as a secured interface between professional traders and end users.
Using this platform users can copy a professional traders and their strategies. Users can follow top traders by searching them through different filters like the number of people who are following them, their ROI, the total volume traded, etc. Users can also see the profits their followers have gained. For early-stage investors who don’t know where to start, they can simply follow and copy the strategies of other traders on the platform.
Users can view bunches of strategies and portfolios on the Tycoon dashboard which presents an opportunity for them to follow allocation strategies of their favorite Leaders in a similar fashion to following someone on social media. With a single click, users can implement the same strategy as a top-performing trader on the platform and gain the perks of that strategy.
Moreover, all activities of the traders will be monitored via a secured API (Application Program Interface) connection in real time and can be copied to a follower's portfolio automatically. Each user manages his own investments at his preferred exchange, being able to access his portfolio at any time.
Should you really care about API?
API enable building, connecting and integrating several divergent features to work together efficiently. One can extrapolate and dare to say that the modern internet is just API built on top of API. Following the same path, Tycoon has come up with innovative solutions for the cryptocurrency industry, by leveraging the API of multiple exchanges to cumulate and automate the entire trading process.
Tycoon Advantages
Tycoon offers numerous advantages for its users, including:
- Manage your own investment at preferred exchanges
- Secured API connection in real time
- The platform is developed with the highest security standards
- Investment is never stored on the platform
Tycoon Token
The platform will be powered by an ERC20 standard token, TYC. TYC will serve as a payment for platform subscription. When you use the TYC, you will receive discounts on fees and profit shares.
Name: Tycoon
SYMBOL: TYC
Blockchain: ERC-20
Max. supply: 140 million
ICO Price: $0.10
Token Distribution:
Tycoon Summary
The Tycoon developer intends to create a social trading platform with the best tools users can get in the market. Tycoon platform will be the high quality, reliable, and secure platform which traders will feel comfortable and confident at all stages of interaction with the platform. For more information, you can visit Tycoon website, whitepaper, or join their telegram group for information update.
Profile Link: https://bitcointalk.org/index.php?action=profile;u=1972940
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