Now you can test your trading strategies on simulated exchange and claim rewards

Nifflerco

jr. member

Activity: 68

Merit: 6

Quote from: akamit on April 11, 2019, 06:02:04 PM

I have a question with the social thing,

During sign up process Niffler asked to follow 3 users, so what are the benefits by following others?
Is it like we will be able to COPY TRADE from the best traders in your platform or it is just a follow/unfollow social thing to weight up the profile in your platform?

Btw, a nice platform with good rewards.

As much as we are cryptocurrency exchange simulator we are also community and following helps to engage the community side more. More experienced traders teach newbies and newbies know they can ask questions.

Secondary purpose is to teach user that following is a thing on the platform. Technical benefit of following is that if global feed is too overwhelming user can switch to "my feed" and that will only show trades that comes from the traders that user follows.

Hope that answers your question and thanks for kind word!

akamit

hero member

Activity: 1498

Merit: 596

I have a question with the social thing,

During sign up process Niffler asked to follow 3 users, so what are the benefits by following others?
Is it like we will be able to COPY TRADE from the best traders in your platform or it is just a follow/unfollow social thing to weight up the profile in your platform?

Btw, a nice platform with good rewards.

Ucy

sr. member

Activity: 2576

Merit: 401

The stimulated exchange would be quite beneficial for both the newbie and old traders. I have lots of them bookmarked for people who would need them.
I used to think only the newbies would need the exchanges for risk free practice trading. Your post made things a bit clearer now.

Nifflerco

jr. member

Activity: 68

Merit: 6

Quote from: Malsetid on April 10, 2019, 08:47:08 AM

Found an application like that as well. It's called e toro where you can make practice trades without shelling out any amount. There's also feature where you can study and copy trades of more experienced traders. You can do that both in practice mode and actual trading.

Of course there are other tools and we embrace them as we feel that there is a lack or this kind of tools.

I'm not going to get into details, but eToro simulator feature is still quite different from what we have. For them it's just another feature, for us it's core, so I believe we have better flexibility here. We can teach people about how not safe it is to keep their money on any exchange when real exchange will never tell you that as it works against their own interest and there are many more examples like that.

Malsetid

hero member

Activity: 924

Merit: 502

CryptoTalk.Org - Get Paid for every Post!

Found an application like that as well. It's called e toro where you can make practice trades without shelling out any amount. There's alsoa feature where you can study and copy trades of more experienced traders. You can do that both in practice mode and actual trading.

Nifflerco

jr. member

Activity: 68

Merit: 6

Quote from: BitcoinTurk on April 10, 2019, 04:15:55 AM

I think it is a very useful service especially for newly started investors. Of course, we have experienced investors to use this type of services for continuous self-improvement and the number of trade in daily life through these services should increase. There are a few small details that I wonder about the service.
1) Does the volume move in proportion to any stock market or is it changing depending on the operations of the users of the service?
2) Are price data taken from other sources or do system users determine prices?
3) If we assume that it is a real service, does it allow users to gain experience in arbitrage opportunities?

1) We have liquidity limits based on true volume, users do not have any effect on market prices / volume as everything is mapped to real exchange data.
2) Price again is taken from real exchange and is actually live. When price changes on real exchange we perform and execute our user trades.
3) 100% because our data is matching with real exchange data, so any market manipulation, FUD, FOMO, pumps and dumps will be reflected on our simulator.

Thanks for kind words and your questions.

BitcoinTurk

hero member

Activity: 1624

Merit: 624

Quote from: Nifflerco on April 08, 2019, 12:59:46 PM

Since the bull run starts we going to have a lot of new traders coming in to the crypto madness. I just want to put it out there that there is fairly decent simulated cryptocurrency exchange that has 90% of functionality that real exchanges have.

One of use cases for such tool is to test more aggressive strategies that you normally wouldn't do with real money or simply have fun. If you have your long term positions setup and have itchy fingers to do some trading, this is maybe for you. The best part is that you can exchange your play dollar profits into real rewards provided by the sponsors on the platform.

Homepage: https://niffler.co
Rewards page: https://niffler.co/app/rewards

Happy bull run everyone.

I think it is a very useful service especially for newly started investors. Of course, we have experienced investors to use this type of services for continuous self-improvement and the number of trade in daily life through these services should increase. There are a few small details that I wonder about the service.
1) Does the volume move in proportion to any stock market or is it changing depending on the operations of the users of the service?
2) Are price data taken from other sources or do system users determine prices?
3) If we assume that it is a real service, does it allow users to gain experience in arbitrage opportunities?

Nifflerco

jr. member

Activity: 68

Merit: 6

Quote from: Harlot on April 09, 2019, 10:18:53 PM

So to make it clear your only mode of earning is through the sponsors as well? Because I can't imagine how a site like you will be running without earning from your players? What would be the negative thing if you have reset your account a lot? Will there be any impact in your future trades?

It would be better if your website has some kind of "proof" page to show that your players have been claiming and receiving the right rewards. I think it's the only fastest way for new users to believe that your rewards program is real.

We are not concerned about monetisation at this point, there are million ways to monetise. For e.g. charging projects for listing their assets on exchange (it's good advertising for any asset to be listed as users learn about the projects they invest in even though it's all with play dollars). We can be lead generator for real exchanges and many many more ways. Our goal at the moment is growth.

We will display the claim history as soon as we get more claims, it's too little information to display at the moment as this feature is live only for a week or so and we only have several claims so far. We haven't even announced this feature officially as we gave some time to iron out any bugs and make sure that everything works as it should.

Thanks for bringing up these points though. We will definitely make everything as transparent as possible. We have added two more rewards today by the way.

Harlot

hero member

Activity: 1806

Merit: 671

Quote from: Nifflerco on April 09, 2019, 04:14:48 PM

Quote from: Harlot on April 09, 2019, 03:41:29 PM

~snip~

Great question, each user starts with 100k play dollars, users also have ability to create additional portfolios for experiments that do not participate in rewards program. In case user gets rekt we can reset account so they could start from 100k again. We do not plan to charge for this as user would simply create new account if there would be a price to get yourself back on track. However other users will see that your profile has been reset and we plan to make trades archive available in such case for extra transparency.

So to make it clear your only mode of earning is through the sponsors as well? Because I can't imagine how a site like you will be running without earning from your players? What would be the negative thing if you have reset your account a lot? Will there be any impact in your future trades?

Quote from: Nifflerco on April 09, 2019, 04:14:48 PM

Edit: as for rewards price, we just started out with rewards like a week ago, and already had several claims, we always try to make sure that items are fairly priced and achievable. I'm sure you can imagine the case, where bull run would cause the entire rewards store to be emptied out, so we have to account for that too and make sure that it's mildly difficult to achieve it but still doable.

Hope that answers both of your questions.

It would be better if your website has some kind of "proof" page to show that your players have been claiming and receiving the right rewards. I think it's the only fastest way for new users to believe that your rewards program is real.

Nifflerco

jr. member

Activity: 68

Merit: 6

Quote from: Mehr Sher on April 09, 2019, 04:32:47 PM

One can easily test any trading strategy with the company they use for trading. It’s not even hard now days, so we just need to put time into it and I am sure we will be able to easily figure everything and able to test. But not just that, as there are a lot of Crypto Brokers which have competition or contest of trading, so we can use that which will be even BETTER deal for us and can allow us to get better results for working right.

Not sure what you mean by this, but obviously you can test your strategies or participate in competitions risking real money. What we do is that we created the platform that allows you to test your strategies without risking your own money. Learn how exchange works without having to go through KYC. And to demonstrate people how things work. So once you ready to go on real exchange you will know what is market buy/sell, limit, stop loss etc. You take this for granted, but many people do not have basics and they are not willing to learn that using real money. We are simply lowering the barrier for the entry and preparing users for what are good practices, wallets and bunch of other stuff. We are using teach first approach to help Bitcoin to get mass adopted. This is not just for traders, it's for simple ppl who want to learn what is the process of buying crypto as well.

Mehr Sher

jr. member

Activity: 206

Merit: 2

One can easily test any trading strategy with the company they use for trading. It’s not even hard now days, so we just need to put time into it and I am sure we will be able to easily figure everything and able to test. But not just that, as there are a lot of Crypto Brokers which have competition or contest of trading, so we can use that which will be even BETTER deal for us and can allow us to get better results for working right.

hyunee

full member

Activity: 476

Merit: 100

I love the concept of your site. Free trading, you can trade what coin you want with the use of play money. It's a good platform for newbies though. And, those "profits" from play money could be converted to different prices on the site. I'll try your site now.

Nifflerco

jr. member

Activity: 68

Merit: 6

Quote from: Harlot on April 09, 2019, 03:41:29 PM

Questions for the OP, I have seen the reward page and definitely all prices for your in-game dollars are expensive. I am just curious what is the starting money for all the traders after registering an account? And what will happen if the trader has run out of money? Because I pretty sure your in-game currency doesn't refill by itself just by going to zero? My guess is players have the option to buy more fake dollars from you also for you to earn money in the program at the same time keep the website running.

Great question, each user starts with 100k play dollars, users also have ability to create additional portfolios for experiments that do not participate in rewards program. In case user gets rekt we can reset account so they could start from 100k again. We do not plan to charge for this as user would simply create new account if there would be a price to get yourself back on track. However other users will see that your profile has been reset and we plan to make trades archive available in such case for extra transparency.

Edit: as for rewards price, we just started out with rewards like a week ago, and already had several claims, we always try to make sure that items are fairly priced and achievable. I'm sure you can imagine the case, where bull run would cause the entire rewards store to be emptied out, so we have to account for that too and make sure that it's mildly difficult to achieve it but still doable.

Hope that answers both of your questions.

Zadicar

legendary

Activity: 1302

Merit: 1018

Cashback 15%

Quote from: Nifflerco on April 08, 2019, 05:02:38 PM

Quote from: Zadicar on April 08, 2019, 04:43:45 PM

Not bad rewards actually but these things will be mostly targeted out yet it wont really be that hard to achieve.

We are talking to bunch of potential sponsors to get even more cool rewards. In terms of achieving those profit margins, it's not as easy as you may think. If you try to get it quick then you must increase the risks you are taking. I saw one user lost 30k when trying to pull off 5x leverage short on bitcoin, and he was like half way there.

Good to hear about getting a bunch of sponsors but wont really be that easy for sure.I agree somehow on the thing you said on achieving that target.It may sounds easy but risk ratio would really be high.
The good thing here is that for newbies would able to practice out their trading strats at the same time they can potentially earn but it shouldnt really be minded too much because it would be a stressful thing.

Harlot

hero member

Activity: 1806

Merit: 671

Questions for the OP, I have seen the reward page and definitely all prices for your in-game dollars are expensive. I am just curious what is the starting money for all the traders after registering an account? And what will happen if the trader has run out of money? Because I pretty sure your in-game currency doesn't refill by itself just by going to zero? My guess is players have the option to buy more fake dollars from you also for you to earn money in the program at the same time keep the website running.

bhabygrim

sr. member

Activity: 994

Merit: 257

Best Bitcoin Casino www.coinsaga.com

Thanks this is a good start for the new one's who wants to try trading .
They could LEARN and EARN at the same time and they would definitely earn more in real trading because of this site.

Nifflerco

jr. member

Activity: 68

Merit: 6

Quote from: pundit on April 09, 2019, 11:35:37 AM

Indeed this is a good platform where any trader can test his/her strategy w/o investing real money and also earn handsome reward. It would be like ice on the cake if you introduce some referral scheme. In forex most of the brokers allow demo trading whereas in crypto it is lacking, its a nice step to introduce such demo platform where rewards are real. I also like the option to mention the reason behind taking the trade, that seems more logical, what conditions made trader to take that trade, it will serve as learning edge to newbies also.

Thanks for kind words.

To anyone who has crypto related businesses, feel free to reach out and we can add your service/product as a reward.

pundit

full member

Activity: 868

Merit: 104

Indeed this is a good platform where any trader can test his/her strategy w/o investing real money and also earn handsome reward. It would be like ice on the cake if you introduce some referral scheme. In forex most of the brokers allow demo trading whereas in crypto it is lacking, its a nice step to introduce such demo platform where rewards are real. I also like the option to mention the reason behind taking the trade, that seems more logical, what conditions made trader to take that trade, it will serve as learning edge to newbies also.

Nifflerco

jr. member

Activity: 68

Merit: 6

Quote from: beerlover on April 09, 2019, 09:41:58 AM

First of all amazing name. I am not going to just let it go and focus on the thing right away because the name is amazing and I know you guys must have some trademark issues considering niffler must have been trademarked already and that is why I feel like you can't just get too big because Harry Potter franchise will eventually find out about you if you go too big and than try to stop you because you are using a name from their story.

However, aside from that the idea is beautiful and I think many people would love to not only test out their strategies and positions but also get rewards for such things so I think you are going to eventually become big, not just big for you but really big. I hope you have a back up plan in case of a cease and desist letter from the movie studios.

I really believe Niffler is same as Kraken in that sense. Either way if it ever comes to that we should be big enough to deal with it. All I see it's just extra credit for them to inspiring us. They based Niffler creature on echidna we base ours on platypus. Niffler, the name is not proprietary to HP franchise either, as it was used long ago by some other companies. It's def grey area, but not too worried about that at this point.

Thanks for kind words about the idea itself.

beerlover

legendary

Activity: 2842

Merit: 1152

First of all amazing name. I am not going to just let it go and focus on the thing right away because the name is amazing and I know you guys must have some trademark issues considering niffler must have been trademarked already and that is why I feel like you can't just get too big because Harry Potter franchise will eventually find out about you if you go too big and than try to stop you because you are using a name from their story.

However, aside from that the idea is beautiful and I think many people would love to not only test out their strategies and positions but also get rewards for such things so I think you are going to eventually become big, not just big for you but really big. I hope you have a back up plan in case of a cease and desist letter from the movie studios.

Topic: Now you can test your trading strategies on simulated exchange and claim rewards (Read 288 times)