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CopyRage

Social aggregator for trading/betting/stocks

Ukraine, Kyiv city
Market: Internet and IT, Blockchain, Mobile applications
Stage of the project: Prototype or product is ready

Date of last change: 14.11.2019
Min investment
$  50.000
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Total required
$ 300.000
Rating
equalizer из 1000
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Idea

CopyRage is a social aggregator that will help users earn extra income by copying published deals and sports bets.

Current Status

We are at the development stage of MVP.

Market

Some clients are great professionals in the field of trading, but they do not have a very good understanding of sports betting and coefficients. Not always a long-term investor wants to wait several months or years to make profit. Therefore, CopyRage provides the ability to earn, copy and be copied in all 3 markets simultaneousl.

Problem or Opportunity

1. NON-EQUALITY - based on the rapid growth rate of the popularity for trading, betting and stocks, only 9 out of 100 active users are experienced and use effective strategies. Remaining 91% are beginners, who are not aware of how to apply theoretical knowledge properly.
2. NON-TRANSPARENCY - almost no platform is providing information about the history of their users. How many transactions with what result the user did, for how long he uses the platform, or how often he is online. No one has an opportunity to study the profile of the selected person.
3. NON-OBJECTIVITY - some platforms, unlike the rest, still provide superficial statistics for users. These platforms are brokers for whom there is no benefit in providing information which can lead to users profit. Statistical data is minimized and lacks details.

Solution (product or service)

It is not enough for a modern trader to simply carry out operations on different exchanges; he needs to share information, collect statistics, communicate and earn extra money without leaving his account.
CopyRage combines a social network, a trading platform, a betting company, stock market trading and a news channel. Moreover, it is easy to use. All operations are carried out through the API, which makes it legal all over the world.

Competitors

Right now, our biggest direct competitor is eToro. This is a popular copy trading platform. But it has very limited functionality and features for users.

Advantages or differentiators

Today, there are many projects of copy trading. The main emphasis in CopyRage is made specifically on trading within the same account, but immediately in three huge markets. Such concepts as "copy betting", "copy stocks" does not exist at all. It is we who will open this innovation of the world!

Business model

BUSINESS MODEL B2C:
1. SUBSCRIPTION - regularly subscription is giving the users an advantage of extended functionality. An advanced Tier-distribution system provides benefits to users with monthly or annual subscription.
2. COMMISSIONS - users are charged for each copied order closed with profit. The mechanism is similar to AppStore or PlayMarket, where one part of the funds goes to the developer, and another to the platform for each purchase.
3. PREMIUM ACCOUNTS - both premium account and paid subscription expand the targeting functionality when setting up an advertisement and include additional feature sets: the ability to copy any user, an unlimited number of followers, a verified account icon etc.
4. PAYMENTS - the extra services payment model allows users to receive advanced visual customizations, perks, gimmiks and statuses for a bearable fee. For the purpose of user friendliness payment is made using an internal platform currency.
5. ADVERTISING - promoting an account to the top and placing news in the ad unit helps opinion leaders to reach the desired audience faster, increasing both number of visitors and copying coverage, which has a positive effect on the platform’s profits in the long run.

BUSINESS MODEL B2B
1. DEVELOPERS AND SERVICES FEE - there are a huge number of developers of trading robots and signals. With CopyRage, finally, it became possible to separate the wheat from the chaff. For proof of their own solvency and efficiency, developers and services are willing to pay a tidy sum.
2. BETTING REVENUE SHARE - betting providers have built their business in such a way that they are ready to give part of their earnings to those from whom customers come. In case of CopyRage, the betting provider receives not only customers who are willing to bet, but a whole army of followers. For that reason, CopyRage gets VIP-conditions.
3. BOARDING FEE - for exchanges and betting providers, CopyRage carries a potential stream of new customers. which means that exchanges and providers want to be represented on CopyRage. We charge a connection fee and a monthly commission on turnover on the exchange.

Money will be spent on

Investments are needed to accelerate the development of a startup and successfully enter the market.

Risks

Based on the market situation and the applied solutions' relevance, PESTLE system analysis has been applied. All the platform strengths and weaknesses are taken into account, as well as all sorts of external environment aspects which affect our field of activity.

1. POLITICAL - a majority of well-known resources fall under political sanctions in some countries. Such sanctions don`t apply to CopyRage. Therefore, customers are able to interact, regardless place of their residence.
2. ECONOMICAL - stock price bouncing, unstable market situation and different solvency are the main causes of trade instability. We continuously monitor the economic situation and adjust the system to it.
3. SOCIAL - the popularity of trading and betting differs in various countries. The platform is aimed to connect people together in order to share knowledge and experience on mutually beneficial terms throughout the world.
4. TECHNOLOGICAL - external server attacks are a fairly common online phenomenon, that’s why a complete Amazon solution resistant to attacks is used by us.
5. LEGAL - in some countries residents are restricted in accessing trading operations. Since no transactions are being made on the platform, its use cannot be restricted by licenses.

Incubation/Acceleration programs accomplishment

We did not go through incubation/acceleration programs.

Invention/Patent

UK00003407412

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Idea
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Invested in previous rounds, $
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