CopyCash aims to create “the world’s largest blockchain-based social travesting platform.” Find out how it works today in our review.
What is CopyCash?
CopyCash aims to create a social “travesting” platform built on the blockchain. “Travesting” is a combination of trading and investing. With CopyCash, you can copy the activity of other traders. Or, you can start your own fund, build a social network, then earn rewards when people follow your trading activity.
CopyCash will allow users to trade forex pairs, cryptocurrencies, indices, and stocks. The goal is to create “a transparent social travesting platform where trading signals from top traders are made public.” It’s all built on the blockchain, designed to be a better way to trade and invest. The CopyCash ICO began with a pre-sale in November 2017, with a main ICO scheduled for Q1 2018.
How Does CopyCash Work?
CopyCash aims to take social trading to new heights by allowing users to “travest” – trade and invest – socially. All trades are recorded on the blockchain.
CopyCash uses an ERC20 token called CopyCashCoin, or CCC. It also uses the Ethereum blockchain as its blockchain.
Two Core Uses For CopyCash:
Signal trading is a social trading feature allowing users to receive real-time trading signals from top traders. Signals are generated automatically by the portfolio management core, which is aware of all the trades followed by the user. This guaranteed validity and transparency. Overall, CopyCash claims its signal trading is a good way to get acquainted with market dynamics while learning what top investors are doing.
Copy trading, meanwhile, takes signal trading to the next level. Instead of just monitoring signals from top cryptocurrency traders, you can copy all trades made by those traders. It’s an automated trade engine.
You can set aside a portion of your money, tokens, and other assets for copy trading. You can also split your account among multiple top traders. You might choose to follow a high-risk/high-reward trader with a portion of your portfolio, for example, and a low-risk/low-reward trader.
The user opens the built-in wallet version of CopyCash
The user sees a list of top traders ranked by results
The user chooses the trader to copy
At this point, the trader trades cryptocurrency or fiat currency via exchange APIs or broker APIs, and the user’s smart contract receives a request with trade signals (containing the details of the transaction). After the request is validated by the smart contract, the user’s account will send funds to the exchange to copy the top traders’ actions via the API.
Meanwhile, CopyCash and the copied trader never hold any of your funds in the process. You remain in complete control of your funds. The entire system is decentralized and controlled entirely by smart contracts to ensure security and transparency. There’s no intermediary to take a fee or cut of your investment profits.
Who’s Behind CopyCash?
CopyCash is led by Bobby Lieu, an entrepreneur with 20 years of experience in venture capital investing throughout Asia. The company also has a list of experienced advisors, including Lior Nabat.
Nabat founded a fintech company called Tradency in 2005, and has served as that company’s CEO since inception. Tradency was the first company to launch the concept of “Mirror Trading”: they created a bank-grade trading service providing traders with automatic trading strategy implementation.
A beta version of CopyCash launched in Q3/Q4 2017, including a social media and network, wallet and accounts, and social trading features. Version 1.0 of the platform is scheduled to be launched in Q1/Q2 2018.
The CopyCash Foundation is registered in Singapore, regulated by the law of Singapore and the ACRA.
The CopyCash ICO
The CopyCash pre-sale began on November 22, 2017. The main token sale is scheduled to begin in Q1 2018. CopyCash revolves around the use of CopyCashCoin, or CCC, a standard Ethereum ERC20 token. That token serves as a mechanism for all payments on the platform.
50 million CCC will be released through a token sale, out of a total supply of 100 million tokens. The remaining tokens are reserved for the CopyCash Foundation (20%), the ecosystem (15%), and the team and advisors (15%).
Of the 50 million tokens available for sale, 10 million each are being sold through two rounds of a pre-ICO, with the remaining 30 million sold through an ICO. The tokens are set at a rate of 0.1 ETH = 37.5 CCC during the pre-sale, or 0.1 ETH = 30 CCC during the ICO.
CopyCash is one of several copy trading platforms built on blockchain technology. CopyCash is built on the Ethereum blockchain and uses ERC20 tokens called CopyCashCoins, or CCC. To learn more about CopyCash and the upcoming ICO, visit online today at CopyCash.io