Tycoon Makes Trading Easier with CopyTrader
Cryptocurrencies are a hype now as more people buy, sell, store, digital currencies for huge rewards. They have created an environment for a faster, more secure, and nearly costless exchange on a global scale. It is no longer the time where bitcoin and Ethereum were the significant cryptos in the markets. More are coming live, and their trade is palpable.
There are many success stories with people earning a crazy amount of money. On the other side, others experienced epic failures, losing millions. It can be a matter of luck or a comprehensive understanding of the crypto market. In the end, it is necessary to gain the essential knowledge. For beginners, it will take a lot of valuable time before they learn and start streaming in any income from the investments. Tycoon realizes this issue and hopes to bridge the divide between pros and novices.
Tycoon.io
Tycoon is a social trading platform utilizing its CopyTrader feature to help newbies in the scene for a positive outcome for all. To come up with the platform’s required input of crypto trading participants, both professional and novice, and implemented through partnerships with well-versed engineers in the sector. It boasts as the first social trading network leveraging the liquidity of most established crypto exchanges worldwide.
Tycoon has been working on its products for nearly two years, claiming to be among the 1% of crypto projects adding value to the market. It aims to veer away from fraudulent undertakings holding teamwork, transparency, and an unbiased ecosystem as the core values. The end game provides all inexperienced traders with direction on how to trade successfully using insights from experienced ones.
Issues Tycoon Hopes to Solve
There has been a rising demand for cryptocurrency investments over the years. However, most big investors take advantage of the markets, manipulating them, and making it hard for inexperienced traders to gain anything from them. Tycoon recognizes the potential of good returns for everyone since the market is not yet saturated.
Secondly, cryptocurrencies and blockchain technology as a whole is complex for a first-timer. Most people are used to traditional markets and how they work. Digital coins need a lot of assessment for a comprehensive understanding of their trends. This process may take years if you have no help. Platforms that facilitate beginners to learn from experienced traders expect the users to trust the network with their capital.
For these issues, Tycoon focuses on a system where newbies can borrow skills from pros in the game to sustain a profitable trade experience. Moreover, users remain in complete control over their capital, as none is stored on the platform. The user needs only register on the ecosystem to begin reaping fruits from their investments with adequate help.
Tycoon Structure
Understanding the full extent of Tycoon’s benefits requires a closer look into the complete network’s structure.
- Users
Tycoon divides users into three categories: Traders, followers, and demo users. First, the traders are investors with an entirety of understanding in crypto-related trades. They get ranking as per their experience, among other factors. Other users have the opportunity to access their knowledge for their investment. The trader hopes to create a vast amount of followers, increase profits they make, and eventually to help the Tycoon community to do the same.
Followers are new traders or those who do not have time to study market charts. Tycoon opens the possibilities for them to earn from experienced investors’ insights in the most natural way through the CopyTrader feature. Followers choose the traders they prefer with an allowance of one week to follow them. If they get satisfactory results, they will continue doing so every week. They can back from tracking traders, too, making the process flexible.
Demo users hope to get the hang of how the platform works. Therefore, they register through the demo mode, which they can activate or discard according to their wishes. They do not input any capital into existing investments; hence, traders they follow do not get any returns from the process.
How are Traders Ranked?
Traders fall under six categories, from 0-5. A trader can gain ranks with time depending on their activity and that of their followers. The vice versa can also happen. Traders in the levels 1-5 must be actively trading on the platform. More factors considered are the number of followers, trading balance, profit shares, growth rate, and duration of trade on the network.
- Technology
Tycoon comes with impressive features like the Application Programming Interface that facilitate the flow of information between different services. APIs keep track of traders’ activities to give followers up to date data on the markets. Tycoon cannot go through your wallet; however, balances and orders requested by traders are indicated on the follower’s portfolio.
Furthermore, security is a top priority for Tycoon using a two-layered security system; no one can access your personal information. Tycoon protects traders’ identities, although the system can verify them with identification numbers for new members to have a variety of traders.
KYC procedures also come in handy to eliminate any money laundering activities and ensure the follower is an honest investor. For anyone who wishes to make use of the Demo mode, KYC verification is unnecessary, encouraging the user to learn more about the ecosystem.
The UI/UX system provides a straightforward analysis of user data for traders to follow. It categorizes performance, progress, balances, and more into graphs, charts, or tables, reducing the strain when following up on information.
- Earning Income
Tycoon hopes to give every user a chance to invest positively through cryptocurrencies. All users can manage their investments on their crypto exchange choices. The API system enables them to connect with well-known exchanges, including Binance, allowing them to access their portfolio.
Followers benefit from traders by copying their trading styles. They can delegate part of their investment to a trader of choice for co-investments. Utilizing several traders helps maximize their returns more. Traders earn extra from their followers through profit shares besides their investment returns.
Tycoon reduces chances for followers to lose their capital through the stop-loss feature. They set the minimum value (stop-loss target) of their capital fall that they wish to sustain. The system automatically stops tracking of traders if the value falls below this value. In turn, their gross trading volume changes back to the base currency.
In Summation
Tycoon shows positive foreboding in the market as the team hassles to set everything right before the official launch of the platform. Currently, it has a crowdsale of its native token, the Tycoon Coin (TYC) selling at $0.1 available only on Tycoon token shop. It completed a successful private sale recently progressing significantly in the largest percentage of planned coin distribution.
Tycoon’s team takes into account any possible shortcomings as the platform gains popularity. It is formulating viable solutions for every risk beforehand for the best user experience. In the coming days, the platform will release a mobile application for more straightforward navigation and accessibility, being among the many benefits we are to see from Tycoon.
