Topic: Beta | CopyCat.app | Copy The Best Crypto Traders In Real Time (Read 259 times)

I've just added this:

https://demo.copycat.app

I haven't tried yet but thought about it. Im anti Tokens as I feel the only utility I can provide ATM is just cash value for rewards such as monthly tournaments and other miscellaneous activities. If I find people don't mind that then I may go down that path, but I want to be different from the large majority of typical projects that create ERC20 Tokens for the sole purpose of just raising funds. It just increases the useless of cryptocurrencies.

I'll see how it goes for the first few months and go from there. Of course I want to turn a profit from this but that isn't the only deciding factor for this project. I'd like to see people with a lack of knowledge about cryptocurrencies, not enough time to trade the markets and people who don't know where to get started when it comes to trading; have the opportunity to have a passive income.

Yup, have you tried to get additional funding from crowdfunding or something similar? I think the idea is good and there is no strong competitor yet on the market. While the chance to get accepted is low, it's worth to try if you have some spare time.

I agree, commission is high atm, I didn't want to shoot myself in the foot too early by not being able to cover basic costs. As it stand this project is self funded by me and my pockets aren't deep.

Sounds good to me. At least better than eToro in terms of accesibilty because of funds. Commisions looks high but still understandable. Will try it and give feedback if I can.

To answer your questions, so Etoro and other sites alike charge a fee based on how much is invested or how ofter you trade. For example with etoro they charge a percentage of 2% and other sites similar charge based on the spread (if a spread is usually 0.1 they'd add a day 0.05 as their fee). This means that the Investor doesn't have to pay up front however with taking a % the fees can be a lot higher and with with a spread it could mean cutting into the profits or taking longer to reach limits set by a trader. My thinking to why etoro have a minimum of $1000 and similar platforms have a minimum of around the same marker is to pressure an investor to invest more. To my knowledge they don't have any real competition so you're forced to use their service or not use them at all.

To answer your questions; Traders make their money by charging a fixed monthly fee which can only be adjusted once every 30 days and CopyCat.app take a % from this (55%). The % we take is subject to get lower (35%) as we grow and we can estimate our costs of operations (the biggest being server costs).

The minimum amount of money needed to invest also depends on a number of things. When you copy a Trader, you allocate how much you want to invest with them. From that allocation you then copy the exact amounts in terms of % that the Trader is executing.

Example 1: You have $10 (equivalent in crypto or other fiat) in your account. You allocate 20% of your account to Trader A. Trader A executes a buy order for BTC/EOS with 5% of his/her funds. This means only $0.10 (equivalent in crypto) of your funds will be traded. The exchange you're trading on has a minimum trade amount of $0.10 (equivalent in crypto), your trade get executed.

Example 2: You have $10 (equivalent in crypto or other fiat) in your account. You allocate 20% of your account to Trader A. Trader A executes a but order for BTC/BNB with 1% of his/her funds. This means only $0.02 (equivalent in crypto) of your funds will be traded. The exchange you're trading on has a minimum trade amount of $0.20 (equivalent in crypto), your trade doesn't get executed.

There is no set minimum if all depends on the exchange you're on the the type of Trader you're copying. If you're copying a trader that executes a lot of small trades or copying a lot of traders and your balance is say $10 then the odds of all your trades getting executed are very low. If your copying a hand full of Traders who don't execute a lot of trades and your balance is $10, the odds of your all your trades getting executed are very high.



TLDR;
So how much is the commission for the traders?
Charge a monthly fee

Is there a minimum amount of money that investors need to invest before the copy-trade available?
No

So how much is the commission for the traders? Sorry if I missed it but just do a quick look at there is no explicit number (at least on the homepage). Is there a minimum amount of money that investors need to invest before the copy-trade available? If it's the same as eToro (which is around $1000 iirc), I guess this is a no for me too.

Thanks for having a looks. Yes there will be a FAQ section, About us section, Terms etc. I'm still in the process of writing most of this us as well as developing more of the backend. Most of the "typical" information pages will be up before the end of the month.

Yes it's only available to registered users for now. There is a  search function that will allow you to search Traders whilst logged out but that will be made available later on.

I've noticed there's no FAQ section. When you will include it on the site? Want to check it.

Or only accessible for registered users?

Hey guys, I've been working on this for a couple of weeks now. The premise of the project is to allow Investors to copy other traders trades.

https://i.imgur.com/aqJ5k5S.png

The project is still in the early stages of development but most of the important functionality has already been built, just needs to be tested extensively to find any crucial bugs.

In this moment in time I've got a few traders who have helped me with testing and bug finding. The more testers I can get onboard the better.

How CopyCat.app works:

• There are Traders and Investors.
• Traders trade and Investors copy their trades.
• Both Traders and Investors have to connect their exchanges via the API keys and let us to the rest.
• Traders can continue to trade on the exchange they currently trade on and Investors can monitor the Traders trades on CopyCat.app or on the exchange they've connected.
• Investors can allocate how much of their funds they want to invest per Trader and they can connect multiple exchanges to their account.

https://i.imgur.com/caZte93.png

To help incentivise testing and bug finding I'm going to be holding a trading competition between 1st Feb - 29th Feb.

List of exchanges added for Traders so far:

• Bitfinex
• DigiFinex
• HitBTC
• Huobi Pro
• Kraken
• KuCoin

List of exchanges added for Investors so far:

• Binance
• Bitfinex
• BitMart
• BitMEX
• DigiFinex
• HitBTC
• Huobi Pro
• Kraken
• KuCoin
• OKEx

Website: https://copycat.app

Demo: https://demo.copycat.app

FAQ's: https://copycat.app/helpCenter

Telegram: https://t.me/CopyCatApp

Twitter: https://twitter.com/CopyCatHQ

Facebook: https://www.facebook.com/CopyCatApp

Medium: https://medium.com/@CopyCatHQ

Instagram: https://www.instagram.com/CopyCatHQ