What a better way to end the year 2020 than launching the most awaited and innovative social crypto trading platform ever made?
We decided to give you a warm welcome by creating a trading competition which starts on December 28th 2020. You’ll be competing against the world’s best crypto traders for a prize pool worth up to $75,000 in BTC and TYC.
Now is the right time to get prepared and establish your name. Thanks to this, millions of followers can choose you as their leader and trust you with their funds afterwards.
Let’s get into more details about everything you need to know:
Tycoon is born out of a noble and ethical dream, we want to connect the right people at the right time, professional crypto traders and followers.
Nowadays we assume that you’ve heard many times about copy trading or social trading which means to copy a professional trader’s trades with a few clicks. Despite the fact that the notion of copy trading is universal, what we’re bringing to the world is not the same, here’s why:
“Copy trading on Tycoon means actually copying professional traders that trade real cryptocurrencies on a real exchange.”
The reason that we make emphasis on the word “real” is that nowadays copy trading is mostly offered by CFDs Market Maker Brokers, this means that you’re not trading real assets but rather financial derivatives and most of these brokers profit from trader’s losses without being clear and honest about it.
Tycoon is here to change this problem in the crypto sphere, for good,
our platform only functions with real cryptocurrency exchanges where the real traders are constantly battling and actual price determination happens. This will change soon when we will add some future exchanges.
What sets Tycoon apart?
- We don’t make money if you don’t make money. That’s right. We have a profit share based business model so we’re extremely happy to say that we have our clients best interest at heart.
- We don’t hold your funds. Tycoon acts as a connector between a follower, a trader and a cryptocurrency exchange. Your funds are exactly where you want them to be, in your own exchange account.
- You hold total control over what you do. You connect using an API key which can grant specific permissions to the platform, for example: read, execute, etc. You decide which permissions you give (according to your intentions, being a trader or a follower). Withdrawal permissions are not required, only you can withdraw from your exchange account at any time.
Here are the benefits of Tycoon’s platform depending on who you want to be:
Benefits for Traders
- Manage your own business by trading your followers capital and receive a profit share without having to manage any funds
- Climb up the rankings by proving you’re the best crypto trader and increase your profit share
Benefits for Followers
- Access the cryptocurrency markets through the hand of professionals with very little effort
- Choose the right trader for you basing yourself on his performance statistics and his rank
- Receive a profit share of up to 77.5%
Important: at the moment of releasing this guide, follower functionality is disabled and pending launch. You can create a “viewer” account right now which will be switched to followers later automatically. Traders and followers require two separate accounts regardless if it’s the same person.
How to get started as a Tycoon Trader
In this section of the article we’ll explore what it means to be a trader in tycoon and which steps you need to take in order to make that happen. The first things you need to do are:
After completing the two previous steps, we can get started with getting your Tycoon account running:
Connect your API Key
The API key is what allows us to monitor your trading activity, performance and every single metric needed to give you a ranking in our platform.
For the followers it’s also what allows Tycoon to automatically execute the trades that they’re copying from professional traders.
First, log in to your Binance account and look at the menu on the left side, right below the settings option you’ll find API Management, click on it.
If you don’t have any API keys, the system will ask you to create an initial API key and the first thing to do is give it a name, in this example we’re naming it “Tycoon”.
After clicking on create, Binance will authenticate this action possibly by sending extra verification codes to your email or any 2FA app if you’re using one. Enter and verify this step.
Congratulations your first API key has been created and you should have something that looks like this:
For security reasons we covered this key as it belongs to a real account, that’s why you see some oddly shaped squares.
What you care about in this window is:
- API key: you’ll need to copy it inside your Tycoon Platform’s Account Settings
- Secret key: you’ll also need to copy it inside your Tycoon Platform (always do this one first as it will disappear and then you won’t be able to see it again, you’d need to create a new API key).
- Permissions: “Can Read” is the only permission you need
Now, go into your Tycoon account and click on the top right corner on your avatar to expand the menu and then click on settings.
You’ll arrive to a window that looks like this:
Below the tab “Account”, click on the lower right corner option that says “Add Exchange API Code” and a new input window will open.
Enter your API key and your secret key and click on save! That’s it, you’ve successfully added your API key to Tycoon and you’re good to go.
As a trader you don’t need to focus much on the platform in the beginning but rather on being the best trader you can be at your exchange, that’s what will rank you high on the leaderboards and earns your rewards and honor.
Tycoon’s Trader Ranking
Our trader’s ranking system is our way of rewarding traders that have grown their own business and Tycoon’s business.
In the table below you’ll find each level and the requirements to climb to the next one, bear in mind that all traders start as level zero. Once you’ve been trading for two weeks on Tycoon’s platform and met the initial Level 1 requirements, you’ll be automatically promoted.
How to get started as a Tycoon Follower
As we are onboarding traders first, our follower functionality is still deactivated, but you can already register as a viewer to see all the platform’s activity and check how the traders are performing. This gives you a good idea on who you’ll want to choose to follow once this feature is launched. All “Viewer” Accounts will be prioritized during the Followers onboarding, after all Tycoon Token holders are on boarded first.
- The first step is connecting your API Key as we described earlier in our post.
After connecting your API key then we can proceed to learn the basic features of the platform.
Tycoon’s Platform Newsfeed
Our newsfeed section will help you stay on top of what’s happening in your network.
During our initial launch stage only Tycoon’s team will use this area for any relevant announcements. After we release other platform features then the newsfeed will be populated with content updates shared from Traders that you follow combined with Tycoon’s announcements.
Tycoon’s Platform Leaderboard
Tycoon’s leaderboard is designed to show you who’s the best and why. On the top you’ll see who are the top gainers this week.
Scroll down and you’ll find the full leaderboard where you can sort traders by all time rank, profit and losses in percentage and since when did they start trading etc.
Tycoon’s Platform Traders Profile
The Trader’s profile helps you determine if you want to follow him or not. On the main profile page you’ll have a short bio of the trader along with a few basic stats about him.
On the bottom of the trader’s profile you’ll find the following options:
- Overview: gives you full historical data about this trader’s performance, allows you to filter the information and change the period of data that you’re looking at.
- Portfolio Diversification: gives you an overview of how many assets is the trader trading so you can understand if he’s diversifying as much as you’d like.
- Feed: an exclusive view of all the posts created by this trader.
Tycoon’s Platform Follow Panel
This area is where you allocate funds to follow a professional trader, here are the most important points you need to know about this feature:
- USDT is always our base currency, so you will need to have USDT on your Binance account to start following any trader.
- You can enter a specific amount that you’re willing to commit into following this trader or you can use the slider to select a percentage of your whole trading capital.
- You can select a stop-loss in order to ensure that if the committed amount drops by the number you’ve set, the system stops following that trader for you. This gives you an extra layer of protection.
The Tycoon Token
Here in Tycoon we decided to create our own Token which served as the initial funding vehicle for our very ambitious project.
Our token comes with lots of benefits, the main one is increasing your profit share as a follower by giving you a 25% discount on any due payments.
Holding Tycoon tokens increased your profit from $7,000 to $7,750 in this particular example of a $10,000 profit waiting to be distributed.
Tycoon’s Trading Competition
As part of our long awaited launch, Tycoon decided to open the door for traders through a trading competition.
This gives traders the chance to build their history and performance metrics which results in millions of followers being able to correctly assess who’s the best trader to follow or not.
Our trading competition starts on the 28th of December, for more information please visit our competition page.
Welcome to Tycoon,
Time to disrupt the cryptocurrency world, for good.