Cryptocurrency, thanks to its open and decentralised nature, offers a relatively low barrier of entry for anyone interested. Theoretically, anyone, regardless of socio-economical or geological/ethnic background, who has access to the internet ,has the means to set up a cryptocurrency wallet and begin trading.
And in 2014 we at Invest Platform did just that. We opened a wallet and began investing in cryptocurrencies.
However, as we all soon learned, trading isn’t as easy or straightforward as one would hope. As we were taking our first steps it became apparent that it was nearly impossible for us to keep track of all the information floating around about all the cryptocurrencies we were invested in. Even today there still aren’t any services that aggregate this information into an ‘easy to digest’ format. Information is still spread all over social media, from the depths of reddit to some comment on telegram. Even more difficult than browsing the social media we knew of was finding information about cryptocurrencies who’s main targeted audience was China. As much as we wanted to stay up to date, learning Chinese just wasn’t a realistic prospect.
Besides the issues we’ve experienced with simply finding and reading all the information out there; we were still confronted with perhaps our biggest limitation: Time.
We simply didn’t have enough time to read it all! We all have full time jobs and responsibilities outside of our jobs. Trying to squeeze the little free time we had for crypto-trading just didn’t cut it. Especially considering this market is open 24/7. To our frustration we’ve watched our profits melt away as we went to bed.
But it wasn’t all bad, we did make some profitable trades... only to realize that those trades may have appeared profitable when expressed in USD, but looked quite depressing when expressed in BTC or ETH.
Or that time we sold a crypto-asset that suddenly gained 20% after months of being down -5%. Thinking we were geniuses who managed to cut their losses and even made some profits while doing so! Only to revisit coinmarketcap a couple of weeks later and see that same crypto-asset suddenly making its way up the top 100 list. You can imagine our frustration as we watched all those potential profits go by.
Quite quickly it became painfully apparent to us that we were lacking the technical- and psychological skills necessary to become a good trader.
WHY DO BEGINNING TRADERS LOSE MONEY?
If our story sounds familiar to you, it is because we’ve experienced all the main reasons why beginning traders lose money:
● They don’t have the time to properly research their investments.
● They don’t have enough knowledge about technical analysis.
● They don’t have enough experience with cryptocurrency exchanges.
● They don’t have the right psychological mindset.
● They don’t have the patience.
Put all these reasons together and you’ve got a recipe for lost opportunities and an even greater loss of value.
On the other side of the story we have the experienced investors, which we will take a look at in the following.
WHAT DO EXPERIENCED INVESTORS LACK?
Experienced investors and traders possess all the necessary skills to thrive in the cryptocurrency market. However, unlike the traditional market, they lack the availability to maximally capitalize on their skills. While successful stock traders have the option to sell their skills to financial institutions, we’ve found that crypto-traders do not have similar opportunities. Oftentimes successful traders work relatively isolated, discussing and gathering information on social media platforms with like minded people, but unable to monetize on their sharing of ideas and strategies.
What experienced and successful crypto-investors lack can be condensed in one sentence:
● They have very few options to sell their skills to those who would benefit from these skills.
OUR SOLUTION - INVEST PLATFORM
Invest platform is a feeless platform enabling trustless API-based copy-trading and the sharing of ideas and information.
The concept of Invest Platform is quite simple:
An experienced investor, who has a proven track-record, can choose to share his trading strategy with other users. Beginners (or experienced traders who are in need of a break) can then follow any trader that shares his strategy on our platform, simply by subscribing to that particular trader.
Both the experienced trader and the user who subscribed to the trader are linked through an API. This way any sell or buy order the experienced trader makes is automatically copied to your account, on the exchange of your choice.
The main advantages of using an API service is that you remain in full control over your funds, private keys and choice of exchange (e.g. Bittrex, Binance, GDAX, Poloniex, Bitifinex).
Our goal is to bring together beginning- and experienced traders in a win-win situation. Because of our platform, each user increases the opportunity to maximize their profits. The beginning trader does so by enjoying the skills and success of experienced traders; while experienced traders do so by having the ability to offer their paid services to a large audience.
WHAT SETS INVEST PLATFORM APART FROM THE COMPETITION?
In contrast to competitive platforms offering similar services, our platform has several key advantages which we would like to highlight:
No hidden fees - Competitive systems are expensive and demand exuberant fees. The Invest Platform offers a free platform based service that brings both beginning and experienced traders together. Our platform is accessible through the staking of INV tokens and only charges 10% on the profits made by users following a trader of their preference.
Safety - Competitive systems require users to deposit money into their own wallets. This leaves users at risk of potential theft. Our platform has taken a different approach. By connecting our users through an API, you keep access to your money at all times. Not only will this save you valuable time from not having to send funds from and to wallets; more importantly, you will not be exposed to theft. As an additional safety measure we have limited the API intractability to only being able to open and close positions. Withdrawals will be blocked at the API level. Our platform itself will be secured by Google two-factor authentication, text-message authentication and IP whitelisting.
Community - Our platform is open to all traders. Each user will be able to acquire a ranking which reflects his level or skill and trust on our platform. This opens the possibility to anyone, who has the sufficient ranking, to gather subscribers and earn for offering their services. In addition, each user will be able to share their ideas and technical analysis directly with their subscribers via our chat.
Traders - The experienced investor assuming position, builds trust and ranking on our platform. Each investor will be classified with our proprietary level system. The better track-record the investor has, the higher level he gets. This allows the trader to attract a greater potential following.