Those are some good points. In regards to being too expensive, is it fair to say that a company would spend any amount to save their companies business? So let's bump that spend to $100,000,000 (100 million USD) per top bank. Budget of $100,000,000,000 (10 Billion USD).

Banks such as HSBC have been fined 1.9 Billion USD and it hasn't hurt them. 100 million USD isn't going to do much to their profits.
J.P Morgan gets fined every 2-3 years averaging over 100 million USD.
Barclays similar amount to J.P Morgan.


Bank   Fines:

Bank of America   $76.1 Billion USD
JPMorgan Chase   $43.7 Billion USD
Citigroup           $19 Billion USD
Deutsche Bank   $14 Billion USD
Wells Fargo   $11.8 Billion USD
RBS                   $10.1 Billion USD
BNP Paribas   $9.3 Billion USD
Credit Suisse   $9.1 Billion USD
Morgan Stanley   $8.6 Billion USD
Goldman Sachs   $7.7 Billion USD
UBS   $6.5 Billion USD


Keep in mind that fines are Banks having to forfeit money "involuntary".

Imagine how much they'd spend to stay in business.

I've been for cryptocurrencies from when I first heard about it and got involved back in 2013. There are some pros to having Bitcoin as the future method of payment however there are some cons too.

It would be interesting to see why you think Bitcoin (or other cryptocurrencies) will surpass traditional methods of payment (Cards, Bank transfers, payment gateways etc.). Or if you think they have no future please share why.

Some of my concerns:

• Ever since a few people have made a fortune from the massive spike in prices, it's attracted a lot of traders and day traders. Not a bad thins but it's clear to me that easily 90% of cryptocurrency users are just traders with no intensions of using the currencies. Hence the rise in a lot of exchanges (a lot of which look the same).
• All it takes is 51%. Although for a coin such as BTC would be very expensive to attack the network it's still possible.
  
  Here's my insane scenario:
  
  100 top banks from across the world don't like the threat BTC has on their business so they all join together to buy compute power, take over the network and cause havoc. I estimate it would cost around $2,000,000,000 (2 Billion USD). This is very expensive but what's $20,000,000 (20 million USD) to a top bank? That's an investment to help protect their business.
• Speed: BTC is known to be slow to confirm a single transaction (approx 10 mins). ETH is faster (approx 15 seconds). I believe (correct me if i'm wrong) that if you cut down block times it slowly starts to make a decentralised system more centralised.

I've just added this:

https://demo.copycat.app

I agree I'm just confused is to why so many people out there use it as their "check list" to see if something is legit. I guess that's part of the reason to why so many get scammed.

This has puzzled me for years, in the crypto community having a LinkedIn profile seem to be the communities way of saying "Yep you're a legit person".

A couple years ago someone told me I didn't have a LinkedIn account so there was no way of proving I wasn't a scammer hiding behind a false identity. So I created a LinkedIn account and of course once you've got one you need connections. I connected with people I knew in real life and then the next day I saw some connection requests from people I didn't know. I accepted them just to see if there could a benefit for me.

It then hit me! If I get over 500 connections on LinkedIn (LinkedIn only shows 500+ and not the actual number of connections) it would some how prove to the community that I was "legit". So 24 hours later I got over 1,200 connections and yep I am now an honest legit person to their eyes. A friend of mine said to me "Wow, how'd you get so many connections so fast? You profile looks professional".

If that's all it took for me to show that I'm a real person imagine how many fake accounts there are out there.

The point I'm trying to make is I don't think LinkedIn (or others alike) should be used as a way of proving that someone is who they say they are.

What do you just think and how do you guys verify someone is legit, say if you want to collaborate/invest in their project?

I haven't tried yet but thought about it. Im anti Tokens as I feel the only utility I can provide ATM is just cash value for rewards such as monthly tournaments and other miscellaneous activities. If I find people don't mind that then I may go down that path, but I want to be different from the large majority of typical projects that create ERC20 Tokens for the sole purpose of just raising funds. It just increases the useless of cryptocurrencies.

I'll see how it goes for the first few months and go from there. Of course I want to turn a profit from this but that isn't the only deciding factor for this project. I'd like to see people with a lack of knowledge about cryptocurrencies, not enough time to trade the markets and people who don't know where to get started when it comes to trading; have the opportunity to have a passive income.

I agree, commission is high atm, I didn't want to shoot myself in the foot too early by not being able to cover basic costs. As it stand this project is self funded by me and my pockets aren't deep.

Hey not all websites such as Google.com and apple.com allow you to load their sites in iFrames because it set 'X-Frame-Options' to 'sameorigin'. You may want to find a fix for this. Here's a good starting point.

https://stackoverflow.com/questions/8700636/how-to-show-google-com-in-an-iframe

To answer your questions, so Etoro and other sites alike charge a fee based on how much is invested or how ofter you trade. For example with etoro they charge a percentage of 2% and other sites similar charge based on the spread (if a spread is usually 0.1 they'd add a day 0.05 as their fee). This means that the Investor doesn't have to pay up front however with taking a % the fees can be a lot higher and with with a spread it could mean cutting into the profits or taking longer to reach limits set by a trader. My thinking to why etoro have a minimum of $1000 and similar platforms have a minimum of around the same marker is to pressure an investor to invest more. To my knowledge they don't have any real competition so you're forced to use their service or not use them at all.

To answer your questions; Traders make their money by charging a fixed monthly fee which can only be adjusted once every 30 days and CopyCat.app take a % from this (55%). The % we take is subject to get lower (35%) as we grow and we can estimate our costs of operations (the biggest being server costs).

The minimum amount of money needed to invest also depends on a number of things. When you copy a Trader, you allocate how much you want to invest with them. From that allocation you then copy the exact amounts in terms of % that the Trader is executing.

Example 1: You have $10 (equivalent in crypto or other fiat) in your account. You allocate 20% of your account to Trader A. Trader A executes a buy order for BTC/EOS with 5% of his/her funds. This means only $0.10 (equivalent in crypto) of your funds will be traded. The exchange you're trading on has a minimum trade amount of $0.10 (equivalent in crypto), your trade get executed.

Example 2: You have $10 (equivalent in crypto or other fiat) in your account. You allocate 20% of your account to Trader A. Trader A executes a but order for BTC/BNB with 1% of his/her funds. This means only $0.02 (equivalent in crypto) of your funds will be traded. The exchange you're trading on has a minimum trade amount of $0.20 (equivalent in crypto), your trade doesn't get executed.

There is no set minimum if all depends on the exchange you're on the the type of Trader you're copying. If you're copying a trader that executes a lot of small trades or copying a lot of traders and your balance is say $10 then the odds of all your trades getting executed are very low. If your copying a hand full of Traders who don't execute a lot of trades and your balance is $10, the odds of your all your trades getting executed are very high.



TLDR;
So how much is the commission for the traders?
Charge a monthly fee

Is there a minimum amount of money that investors need to invest before the copy-trade available?
No

Thanks for having a looks. Yes there will be a FAQ section, About us section, Terms etc. I'm still in the process of writing most of this us as well as developing more of the backend. Most of the "typical" information pages will be up before the end of the month.

Yes it's only available to registered users for now. There is a  search function that will allow you to search Traders whilst logged out but that will be made available later on.

Hey guys, I've been working on this for a couple of weeks now. The premise of the project is to allow Investors to copy other traders trades.



The project is still in the early stages of development but most of the important functionality has already been built, just needs to be tested extensively to find any crucial bugs.

In this moment in time I've got a few traders who have helped me with testing and bug finding. The more testers I can get onboard the better.

How CopyCat.app works:

• There are Traders and Investors.
• Traders trade and Investors copy their trades.
• Both Traders and Investors have to connect their exchanges via the API keys and let us to the rest.
• Traders can continue to trade on the exchange they currently trade on and Investors can monitor the Traders trades on CopyCat.app or on the exchange they've connected.
• Investors can allocate how much of their funds they want to invest per Trader and they can connect multiple exchanges to their account.

To help incentivise testing and bug finding I'm going to be holding a trading competition between 1st Feb - 29th Feb.

List of exchanges added for Traders so far:

• Bitfinex
• DigiFinex
• HitBTC
• Huobi Pro
• Kraken
• KuCoin

List of exchanges added for Investors so far:

• Binance
• Bitfinex
• BitMart
• BitMEX
• DigiFinex
• HitBTC
• Huobi Pro
• Kraken
• KuCoin
• OKEx

Website: https://copycat.app

Demo: https://demo.copycat.app

FAQ's: https://copycat.app/helpCenter

Telegram: https://t.me/CopyCatApp

Twitter: https://twitter.com/CopyCatHQ

Facebook: https://www.facebook.com/CopyCatApp

Medium: https://medium.com/@CopyCatHQ

Instagram: https://www.instagram.com/CopyCatHQ