TakeProfit Allows Cryptocurrency Trading Experts to Earn Money on its Platform

An Ethereum-based startup called TakeProfit plans to give cryptocurrency investors a new and more reliable source of trading signals.

The platform is designed as an alternative to the often questionable social-media channels, which many investors and traders currently rely on for signals.

“What is really important for a regular investor is that he can take a look at any trader’s performance,” TakeProfit founder Ivan Tumanov said. “He sees full history of signals given and profits received; based on that he can start a free trial.”

TakeProfit Offer Reliable Information for Cryptocurrency Traders

Tumanov noticed a need for sources of reliable information about altcoin trading that are accessible to regular people while running a Telegram channel for traders called Cryptoconsulting. He discovered that educational, informational and other resources for cryptocurrency traders were few and far between.

Tumanov believes that lack of information is keeping many people from trading cryptocurrencies. Instead, they end up relying on signals that are often very questionable and unverifiable sources of information.

“Very often people look for experts and begin listening to them. Then they end up losing money because they don’t know how experienced those experts are,” Tumanov said. “Our platform allows people to see how these experts are rated before they make their choice.”

“And the best option for them is to join a pool of experts or receive advice from one particular expert. Such trading advice is called “signals”.  You receive a short message saying what currency to buy, when to take your profit or stop your losses,” he explained.  “Sometimes it’s backed up by chart and argumentation; pretty easy to use, just copy, paste and profit.  Right?  Of course not.”

The reality is that there are a lot of free but low quality signals; many newbies do not know which signals to follow and get confused with various messaging from traders. They lose money, as the result.

Cryptocurrency Trading Signals that Real People can afford

“Subscribing to signals is pricey, typically $200 to $600 per month,” Tumanov said. “And there is no way to check profitability of previous signals from this expert. You only rely on his promises and screenshots.”

“Things are pretty easy if you invest $50,000 to $100,000 or more; plus live in a megapolis,” he pointed out. “You just bring your money to one of crypto investment funds in your city.”

“But most of us are not ready to invest $50,000,” Tumanov noted. Instead, most investors start trying to trade Bitcoin (BTC) for fiat currencies, United States dollars (USD) and end up losing money.

“People with such approach do not need much time to lose all their funds,” Tumanov observed. “After going bankrupt, most of them start saying crypto is a bubble and never get back to investing.”

A Marketplace for Transparent and Reliable Cryptocurrency Trading Signals

That situation so appalled Tumanov that he assembled a team and began developing a better solution. Their solution was to use the Ethereum blockchain to create a marketplace for transparent and reliable cryptocurrency trading signals.

“TakeProfit is a marketplace for signal providers,” Tumanov explained. His platform gives traders two options for promoting their signals.

A trader can post signals for free to raise his profile; and increase reputation, or charge a subscription to generate some extra cash. Subscriptions would be paid in TakeProfit’s Ethereum-based ERC20 utility token XTP. A token generation event for XTP is scheduled for March 5 through March 18, 2018.

Tumanov and his team raised 2,000 Ethereum (ETH) or $800,000 with a presale of XTP in January. Information collected from the presale participants was used to create a minimum viable product or Beta Test version of TakeProfit. First public beta of that product can be seen here: https://app.takeprofit.io/.

Improvements that should greatly enhance trading capabilities are being made to TakeProfit’s marketplace all the time, Tumanov revealed. He gave a rundown of some of the most intriguing capabilities being added to the platform in a recent interview.

One-click integration with Major Exchanges

“Our roadmap is even more exciting,” Tumanov said. “This spring we will release one-click integration with major exchanges.”

“Here is how it works,” he explained. “You receive a notification that your favorite trader posted a signal. For instance: “Buy Ethereum, potential earning 40%, maximum loss 10%.”

“All you need to decide is what share of your deposit you are willing to invest,” he said. “Then one click, and it is executed in your account. And in a few hours or days, you will be notified on this signal’s results, killer feature for lazy investors.”

Free and crystal clear online trading courses

“We are also working on a lot of tools for more curious investors,” the CEO announced. “Spreading investing culture is one of our goals.”

One of Tumanov’s more ambitious goals is to make education about cryptocurrency trading available to everyone.

“Free and crystal clear online trading courses and tests will be available for all our subscribers,” he announced. “You will learn to manage risks of your portfolio, access new coins and stay calm whatever is going on in the market.”

Everybody will be able to see and test TakeProfit’s platform and the improvements made to it during the Beta Testing. Those users and participants in the TGE will be able to help build TakeProfit’s marketplace.

“TakeProfit stands for transparency and so is our development process,” Tumanov said. “We release a beta version with absolutely free access to trading signals. Plus we do regular contests for best traders.”

“And most importantly, we develop new features based on feature requests from our beta testers’ chat,” he added. “I am not trying to sell you anything but would really appreciate if you become a beta tester to shape our product together.”

Based on Extensive Research

Tumanov believes that the cryptocurrency trading market is primed for massive disruption because of the research his team has conducted.

“We conducted a huge research on crypto investments industry and will gladly share key insights,” he said.

Those insights include:

• Over 800,000 people are subscribed to crypto-trading channels in one social media solution; Telegram, alone.
• The number of crypto-trading channel subscribers grew at a rate of 10% to 15% a month during 2017.
• A large, undetermined percentage of those subscribers are already paying for access to cryptocurrency-trading signals.
• TakeProfit’s researchers estimated the monthly revenue from the cryptocurrency signal market at 500 BTC in 2017.
• “And it’s just in Telegram,” Tumanov said. “If we add huge communities in WeChat and small independent resources it may reach astonishing numbers.”
• “And keep in mind that this market is just one year old,” he added.

Tumanov expects massive growth in the market because there are an estimated six million cryptocurrency wallets on earth. TakeProfit calculated that one in 50 wallet owners; or around 120,000 people, are trading on a regular basis.

TakeProfit CEO Speculates on the future of Cryptocurrency

At the end of the interview, Tumanov shared his insights on the future of the cryptocurrency market.

His main insight is that independent trading is the future of the cryptocurrency markets. He estimated that the top independent trading platforms are already generating $14 million to $16 million a month in profits.

The demand for signals is increasing because independent signal providers and social-trading networks like eToro have been growing as the market for traditional equity investment has shrunk, Tumanov said.

Tumanov’s other predictions about cryptocurrency’s future were booth gloomy and hopeful. Among other things, he expects a major shakeout in the market that will cost many people a lot of money.

Collapse Coming to Cryptocurrency Market, TakeProfit CEO predicts

“Many existing cryptocurrencies may collapse but few of them with actual team, product and value will be valued somewhere around top of S&P 500 companies,” Tumanov predicted. He believes such a collapse is actually good for the market and investors.

“Which means less risk and less volatility for them,” Tumanov said of investors. “And this will bring the majority of “regular” investors to the crypto assets.”

“ICOs are actually the most relevant way to raise money for young tech companies,” Tumanov said. “So we may see new cryptocurrencies booming. It will be harder for them to raise funds, but if they do they will see new high scores in “world’s fastest unicorn startup” category.”

The term “unicorn” is investment-industry slang for pre-initial public offering (IPO) tech companies. The largest unicorns like Uber and Ant Financial received value estimates of $70 billion.

Meet the Professional Trader and Coder building TakeProfit

“I am a professional coder and trader, and this is what I do for life,” Tumanov said. Tumanov believes so strongly in the project that he is putting his money where his mouth is.

“I understand that the best investment of my money is my own project,” he said. “My goal is to create a better platform for traders, which would be useful for both professionals and beginners.”

More information about TakeProfit and a glimpse of its Beta testing available on its web site: https://app.takeprofit.io/ – Full details of Take Profit’s ERC20-based XTP Token Generation Event are available there as well.