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    Sumit Bera

    HedgeTrade Platform Adds New Twist To Social Trading

    Hedgetrade Platform

    Social trading has been around since the advent of social media, which enabled professional traders to easily grow an audience and share their insights. Newcomers to trading can buy into their favorite traders, learn their strategies, and even set up automated copy trading so when the experts trade, followers trade right alongside. 

    Finally, a way to monetize trading expertise so new traders can access expert insights. What could possibly go wrong?

    Just as with the proliferation of social media sites, social trading has grown exponentially, to the point where newcomers are inundated by the sheer number of “trading experts” flooding the Internet. Trading groups in Twitter, Discord, Reddit, Patreon - you name it, every social platform is now home to trading experts offering their predictions to those willing to pay.

    But how is a novice supposed to know who is really a trade expert or not? And how can a newcomer be protected from ‘not so expert’ traders who take their money?

    HedgeTrade’s social trading platform, built by traders specifically for traders, has taken the guesswork out. They’ve created a platform that aligns the incentives of expert traders and novices. Expert traders have a place to grow an audience and new traders have a place to get expert information, but here’s exactly what sets HedgeTrade apart:

    • Traders can enter each trading call into a prediction Blueprint and stake HEDG tokens to back up their forecast. Other users can pay to unlock the details of the trade - but they get a refund when the trader’s prediction proves incorrect.
    • Because HedgeTrade is a tokenized app, its HEDG token is used to stake against predictions, to buy predictions, and for all the payouts and affiliate transactions as well. 
    • Blueprint predictions are entered into a smart contract with the outcomes permanently etched on the Ethereum blockchain. So not only do users benefit from access to information, but the data itself is blockchain verified, and so are the traders’ success scores.

    While HedgeTrade was built originally for crypto trading predictions, it’s also expanding to esports, sports betting, and stocks. The team, based in Singapore with offices in Canada and Europe, plans to create the ultimate trading experience. CEO and Co-Founder David Waslen explained to us how the team wanted to build a trusted platform where traders of all skill levels could come together and all have increased profitability: 

    “With everything that’s been happening in our global economy, people really need transparency, reliable data, and ways to earn money. HedgeTrade meets these needs by incentivizing traders to provide accurate trading calls. Now, newer traders can access expert insights with less downside risk, since they only pay for verified, true information.” 

    Why HedgeTrade is different

    The HedgeTrade platform eliminates the problem of brand new crypto traders having no way to verify if an ‘expert’ is the real deal or not. A proprietary algorithm verifies each prediction Blueprint on the Ethereum blockchain using smart contracts. This unalterable data is then used to create trader scores which take into account each of the traders:

    • Profit potential
    • HEDG tokens earned
    • Number of Blueprints closed
    • Success rate of predictions

    HedgeTrade Leaderboard

    HedgeTrade Leaderboard

    Then, traders that score the highest grace the top of the HedgeTrade Leaderboard, which is prominently displayed on each user’s dashboard. This interactive display of HedgeTrade’s top traders can also be sorted in multiple ways, for instance, to find the traders with the highest success scores or best profit potential.

    How can you make money on HedgeTrade?

    There are three ways to earn HEDG tokens on the platform:

    • Publishing prediction Blueprints to sell in the HedgeTrade market.
    • Earning a share of the lost stake when a trader is incorrect (if you’re one of the first 7 buyers of a Blueprint).
    • Earning passive income by sharing your affiliate code. When users sign up using your code, each time they (or one of their affiliates) closes a Blueprint, you get a commission.

    HEDG Token Details

    HEDG is an ERC20 token that has been a top 25 coin on CoinMarketCap for most of 2020 and is trading on several cryptocurrency exchanges. The team also has ways of purchasing the HEDG token directly from their website as well. The HEDG token has varied utility with traders on the platform having multiple ways to use it:

    • Staking to back up trading predictions
    • Purchasing expert insights
    • Earning passive income through the affiliate program
    • Earning lost stakes when traders are incorrect
    • Buying HEDG on HedgeTrade
    • Buying, selling and trading HEDG on multiple exchanges.

    What’s next for HedgeTrade?

    The project has had a number of big announcements in the past year. In December 2019, they rolled out an invite-only Beta, followed some weeks later by a public Beta. Over the course of the Beta testing, the team collected user feedback to improve upon the platform in preparation for a public launch.

    In early June 2020, they announced their partnership with Bittrex Global, enabling users of both platforms to implement the insights found on HedgeTrade directly onto the Bittrex Global exchange. 

    Shortly after the Bittrex Global launch, which kicked off with a $5 million token giveaway, HedgeTrade saw a surge in new users. As a successful test of their newly rebuilt architecture, the team at HedgeTrade was ready to make their public debut on June 10th. They plan to partner with additional exchanges and trading platforms, and build up HedgeTrade to be the place where the everyday traders as well as professionals can improve their skills and enhance profitability.