Social trading is one of the trends that have been in existence for over a decade. Many investors are already conversant with social trading platforms such as eToro and ZuluTrade and it is conceivable that social trading has gained significant grounds. Although social trading has been in existence for quite a long time, the trend became more significant only of recent.
So, what is social trading?
Put simply, social trading is a service medium through which users assume the roles of followers. The service medium is also known as 'copy trading' in the sense that it authorizes such users to copy the transactions of successful traders known as 'leaders'.
One significant advantage of social trading is that it paves the way for new investors to ignore educating themselves about financial products and, instead, achieve things through a short cut.
New traders are taking the advantage of social trading to duplicate the results of experienced and successful traders. In this way, such traders learn important things which help them realize the trading approaches that will fetch them huge profits and conform to their investment strategies. The idea of social trading is expected to benefit both the followers and the followed traders. On one hand, followers [new traders] learn to derive massive profit while on the other hand, leaders [the followed traders] earn benefits, in the form of considerable commissions, for every follower of their trades. Due to the massive benefits each party is likely to derive, new traders readily agree to follow successful traders. In return, successful traders reveal the strategies behind their trading fortunes to these followers.
Truly, the traditional approach to social trading helps leaders [successful traders] and followers get rid of complexity problem. But again, the approach is riddled with several disadvantages including the likelihood of 'single point failure risk', absence of transparency and the inability to resonate the interests of the parties involved in the trading process.
Quite frankly, absence of transparency results from the fact that traditional social trading is based on a centralized trading platform. By 'single point of failure risk', it's implied that traditional social trading can bring about a situation in which the entire system suffers and breaks down as a result of an error on the side of a single party. For instance, Barings Bank was devastated in 1995 by the action of a rogue trader who engaged in illegal, risky and unscrupulous trading. This was an obvious instance of `single point of failure’ which Barings Bank (a company established in the 17th century) could not prevent and as a result, it went into dissolution.
Another major drawback of social trading is the inefficiency of its alternatives. This implies that there are several projects which attempt to function as tools for investing in cryptocurrencies. However, these projects have failed to yield efficiency.
Why Carboneum Is the Way Out
In order to improve investment in cryptocurrencies and digital assets, the barriers of social trading seriously need to be eliminated. Therefore, StockRadars are developing Carboneum which is a decentralized social trading platform that resonates the interests of trade parties, guarantees transparency and provides absolute decentralization for implementing trade orders.
How Will Carboneum Solve the Current Problems?
Carboneum proposes to develop a vibrant revenue system that makes way for aligning the interests of leaders and followers, leaders are simply the successful traders while followers are described as the new traders. Importantly, this will also pave the way for a completely democratized trading platform for digital assets.
Precisely, Carboneum is an open protocol that will remove the major obstacles of cryptocurrency and digital asset investment. The protocol will operate on the basis of Ethereum smart contract to develop a decentralized platform for effective and vibrant social trading.
Also, Carboneum will help some users (particularly those who are not satisfied with making personal decisions on transactions of digital assets) to observe experts and simply duplicate their trading strategies.
With a view to promoting transparency, Carboneum proposes to keep accurate records of all trading activities. Likewise, the project [Carboneum] will employ blockchain technology for tracing, verifying and inspecting such activities.
Benefits of Carboneum
Simplicity
Absolute Transparency
Unlimited Knowledge Sharing
Comparing Carboneum to Traditional Social Trading
Carboneum is expected to correct the drawbacks of traditional social trading. Unlike the traditional approach to social trading, Carboneum guarantees maximum transparency through its decentralized social trading platform. Asides transparency, below are some of the other advantages of Carboneum over traditional trading platform.
Fault Tolerance: On Carboneum, there is no likelihood of risk on any of the parties involved. However, the traditional social trading platform is characterized by a `single point of failure risk’ i.e., a fault/error from any single party can destroy the entire trading system.
Trust: Traditional social trading requires trusting a third party (or middleman) to secure the trading process while on Carboneum's social trading platform, no specific third party is entrusted with the security of the process.
Conditions for Earning: On Carboneum, leaders [the traders being copied] must make good decisions in order to earn. However on traditional social trading platform, leaders earn even when they continually make poor decisions.
Distribution of Fee: Carboneum allows leaders to get most of the fee while the traditional social trading platform keeps most of the fee to itself.
The Carboneum Token
There will be an issuance of 'Carboneum Token' (C8). Basically, the token will be distributed for use on the features of social trading in digital assets. Also, it will be used in accessing prospective premium services including huge discount on all types of fees. As regards discount on premium services, token holders will enjoy 50% discount on every fee they pay via their tokens.
The Team of Members
The StockRadars is a team that boasts tremendous track record for having developed the best online stock trading and analytical platform in Thailand. It is a group of high-minded professionals who are working to make Carboneum a lasting solution to the drawbacks of traditional social trading. The laudable efforts of the team are aimed at providing investors with the platform that will remove social trading barriers and make investing in digital assets a safer and more reliable option.
ICO OVERVIEW AND TOKEN DISTRIBUTION
TOKEN SALE: 25 JUN - 8 JUL
TICKER: C8
TOKEN TYPE: ERC20
TOKEN PRICE: 1 ETH = 6000 C8 / 1 ICX = 22 C8
FUNDRAISING GOAL: 12,000,000 USD
TOTAL TOKENS: 200,000,000
AVAILABLE FOR TOKEN SALE: 60%
''Carboneum is on track to become the next solution to the drawbacks of social trading. The traditional social trading platform has left much to be desired in certain aspects. Meanwhile, Carboneum is needed to bring about transparency, security of trading activities and ultimately ensure every party involved in social trading is rewarded fairly''
Questions or enquiries regarding the Carboneum platform are welcomed from our esteemed readers.
For more information about this viable company and its ongoing ICO, feel free to contact any one of the company representatives through any of the following links listed below. Cheers !!
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