Tycoon: the Social Crypto Copy-Trading Platform
One of the greatest skills needed to make good money is trading skills on forex and other asset classes. Since the creation of bitcoin — crypto, crypto trading has been a major activity that drives the market.
So there has been a surge in trading activities since the traditional asset class that places a limit on entry to trade is not the only option in the market. Anyone anywhere can use a platform like Binance and start trading cryptocurrencies from the comfort of anywhere with access to the internet.
There are challenges attached to trading crypto just as there are with trading commodities. And to tackle this challenge the team behind Tycoon created a platform that can automate trading for traders of any class.
Tycoon Trading Platform
Tycoon trading platform was started to help users learn the tactics of trading while growing with the global crypto community. The company has its registered office in Paphos, Cyprus with a global and diverse team across the world. Here’s the location on Google Map.
Automatic application of trading tactics make the process easier so that beginners can quickly start trading after joining the platform. Part of the plans of Tycoon is to have the best traders be part of the team who use its API (Application Programmable Interface). This system connects them to large exchanges with great volumes and well developed order books. An example is Binance.
So, Tycoon integrated Binance to enhance the trading experience of users of their platform. For the team of professional traders, a competition is held seasonally to verify the best trader. This gives the organization the push it needs to always present the best and most equipped personnel for the trading activities.
Read this also:
- TAFABOT: Best Cryptocurrency Trading Bot For Binance Exchange
- Trading Platform Quidax Becomes the First African Exchange Listed on CoinMarketCap
- What are Centralized Exchanges? & How to Use them
How Does Tycoon Work & What Are the Features?
When users come into the Tycoon platform, they are given access to connect with the best traders in the ecosystem, copy their strategies and implement them with their funds. This has been the process of the project for more than three years and here are some of the features making this happen:
- Automatic trading
As a new user, you don’t have to worry about a lot of registration processes and trying to trade by yourself. All you need to do is sign up, and you’ll automatically be ushered in to find a trader whose process you can implement and make money.
- Real-time trades
The implementation of the trading plans is also done in real-time. So, if you want to see what Trader Q is trading on at 4.00GMT, you can be awake at that time, connect and you will be given access to see their strategies and you copy and implement.
- Zero-knowledge of trading
Of course, whether you’re new or old in trading, Tycoon allows every user to trade without prior knowledge of trading. How? They just need to do what the professional traders do. It’s like a plug and okay system.
- Stablecoin security
There is an activation that comes on when the stop loss system for a user is triggered. This converts the asset of the user to USDT so that the loss of value is minimized to the barest minimum.
- Community of traders
While a lot of users will come into Tycoon to trade and make a profit, those who want to learn about trading can do so immensely from the community of professional traders. This brings the balance between just trading and learning while trading occurs.
Tycoon offers a 24hrs support system to help manage customer complaints and issues. It is also integrated with Binance giving it a positive perception in the global crypto market.
The Tycoon Token ($TYC)
In the Tycoon ecosystem, there is a token that is used just like BNB is the native token of the entire Binance ecosystem. With the $TYC token, users can carry out Staking. From the website, staking $TYC can give a return of up 12% APY.
Another function of the $TYC token is in granting Fee Discounts to customers who use it for any fee payment within the ecosystem. The discounts are not specific but are granted based on the plans designed by Tycoon for the activity.
There are higher profits earned by $TYC token stakers: who trade in the Tycoon platform and who are affiliates and refer others into the system. $TYC stakers are given exclusive access to certain features in the platform as well as whitelisting options.
Challenges with the Tycoon Platform
The major challenge with the Tycoon platform will be competition. Yes, they are connected with Binance but that’s not enough to make it go mainstream. Marketing needs to be very strategic. And platforms like DTTCoins, X.Plus, and Bitlocus, are on the list of trading platforms taking on the crypto market.
Another challenge for Tycoon is the absence of full knowledge of the team members. Yes, blockchain supports DAOs but that is still way too scary for most people who will want to know the person behind the project. The lessons of rug pulls from previous crypto projects have shown that there is a need for openness and transparency.
The unique selling point of Tycoon might give it a standpoint in the crypto trading market. As they are making crypto trading simpler and more accessible for anyone. New users can come in today and within 5 minutes have access to a trader and start trading according to the website.
The crypto market is growing and will keep growing for a long time. It has given access to endless options for people to earn in very simple ways. The hindrances of bureaucracy and pre-investment qualifications are breaking down.
And Tycoon is one of these platforms that is trying to prove how formidable, profitable and helpful this market can be by giving users access to make money easily.
What do you think of this article? Share your comments below.
Pingback: Tycoon: the Social Crypto Trading Platform Connected to Binance – Crypto Watch Daily
Pingback: Tycoon: the Social Crypto Trading Platform Connected to Binance by Chuks Nnabuenyi Jr – CryptoTvplus Events: NFT, DeFi, Bitcoin, Ethereum, Altcoin Events