Cryptomus, found online at Cryptomus.com, helps users follow the best crypto traders. Find out how it works today in our review.
What is Cryptomus?
Cryptomus is a social trading platform where you can view the latest trading activity of top traders in exchange for a subscription fee.
The token sale for Cryptomus tokens (CPS) is underway throughout January and February 2018, ending on February 2, 2018. As of January 31, the company has raised $4.5 million of its $8 million target.
Cryptomus will use CPS tokens to incentivize users to participate in the platform. Users are incentivized to share and verify information with the community, for example, and build profitable, statistic-driven investment strategies. CPS tokens will be integrated into the platform starting in May 2018.
Today, a functional beta of Cryptomus is already available online. You can view top traders from that beta, checking their accuracy at analyzing market movements and predicting currency prices.
How Does Cryptomus Work?
Cryptomus enables any trader to publish price predictions and invest virtual funds based on those predictions. Here are the core functions of the platform:
- Traders publish price predictions and trade virtual funds, with all trading activities instantly visible
- Statistics are public, transparent, and immutable, allowing you to view each trader’s success over time, including their success rate on price predictions, their ROI, their account value, and a complete history of all trades
- Traders get paid for their success; successful traders can set a subscription price for their followers, allowing followers to pay to copy their trading activity
Cryptomus isn’t a copy trading platform: the company doesn’t allow you to manage funds within the platform, nor does it allow you to automatically invest funds based on a top trader’s activity. Instead, you’re subscribing to traders, then making your own independent investment decisions based on that trader’s decisions. You can copy a trader’s every move, for example, or just copy certain moves from that trader.
Meanwhile, if you’re a good trader, you can make money by maintaining a profile on the platform. If your profile consistently generates strong results over time, then people will pay to follow your advice.
Who’s Behind Cryptomus?
Cryptomus is led by Nizar Charni (co-founder and tech lead), an experienced developer wit a strong passion for cryptocurrencies and blockchain technology. Charni has 10 years of experience across various domains, including business apps and algorithmic trading.
Other key members of the team include Mathieu Rimbaud (co-founder and operations lead), who has 10 years of experience as a trader and technical analyst, including previous experience as a commodity trader at Credit Agricole Group, one of France’s largest banks.
Features of Cryptomus
Cryptomus aims to eventually implement all of the following features. However, only some of the features are currently available in the beta version of Cryptomus:
Cryptocurrency Price Predictions:
Traders can publish price predictions, then have their success rates recorded on the platform. Success rates help users evaluate the effectiveness of a trader.
Top Traders Listing:
In order to stimulate competition, Cryptomus established a top traders leaderboard. Rankings allow users to spot and follow the best traders.
Cryptomus’s ICO evaluation system enables the community to detect, compare, and evaluate the best ICOs.
Cryptomus has a virtual trading tool that allows traders to prove they have successful trading strategies. All trading statistics are public and immutable.
Algorithmic Trading Tool:
Cryptomus’s algorithmic trading tool will enable traders to build automated trading strategies based on market data and community data.
The Cryptomus cryptocurrency barometer will provide real-time visualization of the activity for each cryptocurrency. This activity can be analyzed to anticipate future market movements.
In terms of a roadmap, development on Cryptomus started in March 2017. The beta was released in October 2017. Development will continue throughout 2018, including the release of an Android app and iOS app in February/March, along with CPS token integration in May 2018.
The Cryptomus Token Sale
The pre-sale for Cryptomus tokens (CPS) took place in two stages between October and December 2017. The company raised $2.3 million during these pre-sale stages.
The public sale, meanwhile, took place in January 2018, ending on February 2. The sale is capped at $5.7 million, with an overall hard cap of $8 million for the pre-sale and crowdsale combined.
There’s a total supply of 200 million CPS tokens, with 156 million tokens available for sale. Tokens were set at a price of $0.04 during the pre-sale, rising to $0.05 for the public sale.
The tokens are ERC20 tokens built on the Ethereum blockchain. 70% of the total supply went to the token sale, with the remaining tokens going to the platform reserve (8%), the team (6%), and early investors/advisors (16%).
How Do Cryptomus CPS Tokens Work?
CPS tokens will be implemented into the Cryptomus platform in May 2018.
After integration, CPS tokens will be required to access paid services. However, users will also be able to pay using BTC, ETH, and other cryptocurrencies. When using other cryptocurrencies, Cryptomus will automatically buy CPS on exchanges at market price.
Users who pay with CPS tokens will be eligible for discounts. Additionally, CPS token holders will have participation rights.
Cryptomus is a social trading platform that lets you track top traders in exchange for a subscription fee. It’s not quite a copy trading platform: you’re not working with real money or automatically tracking top traders. Instead, you’re paying to access information about that trader’s latest trades. The reputation of each trader is measured over time, letting you easily see which traders make the best predictions on price movements and market movements.
The token sale for CPS tokens was completed on February 2, 2018. The tokens will be integrated in the platform from May 2018 onward.
To learn more about Cryptomus, visit online today at Cryptomus.com.