Tycoon onboarding case study

Tycoon.io has started the official onboarding process for the new copy traders. This article will explain all the steps needed to make this process a breeze. 

The follower 

Meet Alice. She’s a single mom from Portugal. Currently, she’s working as a technician in a large company, but at the beginning of 2021, she’s been bitten by the crypto bug. 

Ever Since she has discovered Bitcoin, altcoins and the blockchain, she’s been absolutely fascinated by this amazing technology. For the first time in human history, the separation of state and finance occurs in front of our eyes. This crypto revelation was so strong that for a few nights, Alice couldn’t sleep. She kept imagining what the future will look like. 

The smart contracts, immutable, permissionless payment systems, NFT’s and the lot is enough to make anyone’s head spin. So naturally, she wants to learn crypto trading and have “boots on the ground” experience in the crypto market. While, of course, keeping her (already fulfilling) full-time job. 

First of all, Alice has started to read the Tycoon blog to get familiar with all crypto things. From wallets, 2FA, coin reviews and even crypto scams, she has read, literally, all of the most relevant information to get her up to speed. 

When it comes to trading, this is an entirely different ball game. Alice simply lacks time to become a beefed-up, kickass crypto trader. That is why she immediately understood the value proposition of the Tycoon platform and TYC ecosystem. While she’s snuggled up with a nice hot cup of coffee in front of her computer, let’s take the time to guide her through the onboarding process so she can start following her first professional trader. Exciting, isn’t it?

Registration on Tycoon.io

First thing’s first. Alice registers on Tycoon.io as a follower. Remembering all the helpful educational articles, she makes sure never to leave anything to chance and promptly scribbles down all the essential information (such as passwords) in her dedicated notebook. She knows that security and paranoia are the best friends of any crypto investor. 

She uses her phone to download the Google Authenticator app and enables the 2FA (2-factor authentication) on her phone. If a malicious attacker gains access to her computer without having access to her smartphone, the Tycoon platform will promptly show any hacker the middle finger. 

Another nifty feature of the Tycoon platform is the time out feature. Alice’ cat Vasco loves to linger around her desk and periodically melt his furry anatomy all over her keyboard. With the handy timeout feature of the Tycoon platform, any attempts to log in with a wrong password (either by the user or by someone else) will be met with an automated “time out” feature by the inbuilt security. Tycoon takes security very seriously! 

Once the platform registration is completed and 2FA has been enabled, she’s halfway through her coffee and moves on. 

Identity Verification on Tycoon.io

Alice has done her homework. By now, she has read Tycoon’s whitepaper and is fully aware that Tycoon.io is an official company registered in the EU. That is where identity verification comes into play. 

Having KYC (Know Your Customer) verification is not only legally required, but it also grants any user some amazing benefits. One of them is, of course, the ability to work with larger amounts of cryptocurrency without having to worry about potentially difficult questions regarding anti-money laundering and other nefarious activities. 

Alice already knows this process very well, and she knows how to proceed further. 

  • First, she takes pictures of her ID (or driver’s license), as well as a utility bill and stores these images on her computer.
  • Then she records a short video (explained fully in the identification instructions) and stores it on her hard drive as well.
  • Next, she uploads the pictures and her video into the helpful KYC wizard on the Tycoon platform.

Let’s notice how she prepared everything well in advance. The biggest frustration when it comes to identity verification comes from technical difficulties due to hardware. Low-quality images from computer’s webcams (looking at you, Apple!) can sometimes be a nightmare.  This is why Alice takes the time to prepare ahead. 

Now that Tycoon identity verification is complete and her coffee mug is empty—time for a refill and some Binance exploration. 

Setting up Binance

We have to admit that Binance is doing absolutely everything they can to make the road of even the most inexperienced people in crypto a real breeze. There are a ton of helpful tutorials, guides and even an academy to help people find their path through all crypto things.

Of course, identity registration on Binance is needed since it will allow Alice to work with larger sums of cryptocurrency throughout her copy trading adventure. Now, she already has saved copies of all the required documents; this step is a walk in the park

By now, Alice, fortunately, knows the basics of using a centralised exchange (thanks to helpful articles on Tycoon.io/blog, of course). So now it’s time to generate the API key needed for copy trading. 

This is done via the API management tool on Binance. Before she even starts, out comes the little book of passwords and recovery phrases. Every step of the way, she writes down all the essential backup information regarding her API key. Lost passwords are not something a crypto investor should even have to deal with because of iron discipline and a great habit of scribbling down all the important information. 

After the API key is generated, Alice enables “trading permissions” to have it up and running for a minimum of 90 days.  She marks the expiration date in her calendar to re-check everything by then. The motto of any crypto investor is; “don’t trust. Verify!”

Once the API connection is created, she deposits her very first funds on Binance and heads back to Tycoon.io for the final step. 

Final step – Connection to Tycoon 

Now comes the fun part.  Alice does quick work connecting her Binance API key to the Tycoon platform, verifies that her deposited funds are visible and heads over to her leaderboard to do some “Trader Hunting”. 

She knows that her investment strategy is rather prudent. She’s not in the market for quick gains or face-melting quadruple percentage returns. Instead, she wants consistent results while she’s learning everything there’s to know about cryptocurrency while having “boots on the ground” exposure to the whole space. Tycoon is here to do just that. 

The very first professional trader that she follows is ultimately selected according to her investment style and psychological profile. Alice knows that trading cryptocurrency is risky. Yes, there are times a trader is not profitable. However, this is a part of the journey. She realises this very well, and she knows that the time spent IN the market is much more important than any potential face-melting gains. Consistency is the key to her strategy.

She selects the trader she likes and simply hits “follow”. That’s it! 

While she’s full-on copy trading, she can return to her work, weekly PTA meetings, reading interesting material about the crypto space and tending to her kids. 

This is where Tycoon shines. A follower doesn’t need to babysit their positions daily. It’s ok to let go of the reins now and then. In the end, it’s, of course, always possible to switch to another trader, depending on your own investment and trading style. 

Before closing her computer, Alice is notified that phase 2 of the TYC staking program is starting. Even as an amateur investor, she sees the use case of the Tycoon token head-on, and she promptly puts her TYC to work to get some amazing APY. Her TYC will provide her with a whopping 25% better profit share and exclusive access to new and exciting features that will be deployed on the Tycoon platform with time. Done deal! 

Now, as a full-scale copy trader, Alice can close her computer and live her life to the fullest, knowing that the whole Tycoon team is working day and night to make her experience as smooth and fluent as possible. 

After all, the years of hard work and building led to this one exciting moment. Finally, it’s here. Come and join us today and become a Tycoon yourself. Now, you know-how. 

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Risk Note: Trading cryptocurrencies is subject to high risks and may result in the loss of your capital. Please make sure you fully understand the risks associated with trading cryptocurrencies and only invest as much as you can afford to lose. Be clear about your investment objectives and experience, and seek advice from an independent financial advisor if necessary. It is your responsibility to determine whether you are permitted to use Tycoons’s services under the laws of your country of residence. Investments in cryptocurrencies are not protected by a Financial Services Compensation Scheme.