Coinmatics s an instrument of cryptocurrency audit and scam-connected risks protection
Fiduciary management is a heritage of the traditional financial system, in which instruments of regulation and control had formed in the years of its existence. Even though the risks to lose money are still high, the legal mechanisms of cooperation protect investors from a flagrant scam.
The cryptocurrency market is still in the formation stage and doesn’t have a due legal regulation yet. Bad actors, either traders or regular scammers, actively use this. They ask people to transfer assets, promising huge returns, and then just make off with the assets, or have a strategy to test but don’t want to risk their own funds and search for an investor.
To avoid this, one needs to comply with just a single old rule: “Take nobody’s word for it. Before risking your money, you need to be as sure as possible that it’s a profitable trader in front of you”.
It is easy to say, but how can we be sure? It is too wasteful to try every trader. The size of a deposit cannot serve as a proof of efficiency either since you need to know the current abilities.
Today, the best solution for the assessment of a trader is an independent platform posting a ranking of traders, which is updated in real-time and based on verifiable exchange statistics.
In the Signal providers section of the Coinmatics website, a trader can create a portfolio and connect it to an exchange account via API keys.
Once it is done, a personal rating starts to form.
Then the trader goes on trading, and after a while, receives the objective and independent statistics on the efficiency, which can be shown to a potential investor.
Coinmatics guarantees impartiality and openness of its ranking: everyone can watch the transaction history of a trader, configuration of trading pairs, average amount of deals, and other information.
The main assurance of its objectivity is the fact that the company’s profits depend on it as well. It’s possible not only to see the traders’ data but also to subscribe for their deals.
The commission fee for a profitable deal constitutes the revenue of the company, which means that the company benefits from having really efficient traders on the platform.
Therefore, successful traders receive a convenient and transparent instrument for auditing their trades and an assurance of the profitability of their strategies. It helps to attract investors and increase income.
The investors can rely not only on promises alone but rather on the statistics, while choosing a trader. It is, of course, not a guarantee against risks — it is impossible to provide such a guarantee in trading — but it can, at least, prove the experience and efficiency of a trader, which protect you from a flagrant scam and fraud.
Moreover, thanks to the automatics copy trading service, the investment-connected working process has become simple and efficient. An investor can sign up for copying the deals of the best trader from the ranking, after which the system will be copying them automatically.
The assets remain on an investor’s exchange account, which completely excludes the possibility of misuse. That leaves only fair trading risks — the traders risk the money of others as much as they risk their own money.
Anyone wishing, both traders and investors, can use the technological solution by Coinmatics to audit trading efficiency and automate the copying of a trading strategy.
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