Copy hot

What is the hottest concept in the currency circle in 2020?

"It's not 100 times currency, not capital disk, but contract transaction." Said Zhang Peng, a player in the currency circle.

With the popularity of contract trading, the TokenInsight research report shows that in the first quarter of this year, the total volume of global digital asset derivatives transactions exceeded the US$2 trillion mark, an increase of 314% from the average of the four quarters in 2019.

In contract trading, buyers can either buy up or down, and they can also increase leverage.

But with leverage comes increased risk.The data shows that during the sharp drop on March 12 this year, the amount of liquidated contract transactions on the entire network exceeded 2 billion U.S. dollars. (refer to:"》

Crazy Currency Contract: Leverage up to 125 times, 2 billion US dollars in liquidation overnight

Because the threshold for contract trading is very high, a game for novice players came into being, that is, contract copying.

What is contract documentary?

In the contract market, the direction and time of buying are very important. The contract copying platform will disclose the trading behavior of professional traders, and allow players to copy orders with one click to copy the operations of professional traders. This is contract copying.

"To put it bluntly, the contract copy is to let the novice user follow the operation of the currency circle trader, and buy whatever the veteran buys, so the novice can buy." Zhang Peng said, "If the veteran can make money, so can the novice."

Nowadays, there are multiple copying platforms in the currency circle, and the slogan is "One-click copying master, easy to lie down and earn".

On the leaderboards of these platforms, teachers with orders are ranked according to the rate of return. Players can choose their favorite teacher and copy the order with one click.

For example, exchanges such as Bibox, Bitget, XMEX, and MOMO have recently launched the one-click copy order function. They also cooperate with the teacher who brings orders, so that players can directly copy orders on the exchange.

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In March this year, Bibox Exchange launched the copy order function

"Right now, the KOLs in the currency circle are almost being divided up by the exchange." Zhang Xuyao, director of operations of an exchange, said, "Our exchange has attracted many new users by relying on documentary products."

An outsourcing service provider in the currency circle told Yiben Blockchain that it only needs 100,000 yuan to develop a documentary trading system.

But there are also great risks in contract copying.

Recently, the liquidation of the well-known KOL "Ban Muxia" in the currency circle, and the collateral effect of this incident on the copy players, has become a big news.

Ban Muxia is one of the KOLs of the digital currency market software contract emperor. Because of the super high rate of return and winning streak, he has become a big celebrity. There are more than 1,000 players just following him.

In the eyes of these merchandising players, Ban Muxia is a teacher who can make them rich. They will spend 30 yuan per month to subscribe to Ban Muxia's trading records and follow him to operate.

But on the morning of May 10, Banmuxia's contract account suddenly exploded - he forgot to set the stop loss price and failed to stop the loss in time.

But this tragic case did not stop the merchandising army.

The mode does not work

In the financial industry, it is not a new thing to carry orders and follow orders. This kind of gameplay has long appeared in traditional financial markets such as stocks, futures, and foreign exchange.

But until today, it has not been able to become the mainstream of the industry.

"The reason is simple. Traders who can make long-term profits will choose to invest on their own or manage formal funds." Zhang Xuyao ​​said, "Those who brag about their steady profits and like to advise retail investors on investment mostly have impure motives."

In his view, the recent popularity of documentary platforms in the currency circle is also the result of the promotion of exchanges. "In the past, Xiaobai wanted to play contracts, but he was afraid of losing money and dared not join. Now that there is a master who brings orders, they start to open an account on the exchange." He said.

In this process, there is a cooperative relationship between traders and exchanges: the former brings traffic to the latter, and the latter returns part of the handling fee to the former. And the money they earn naturally comes from retail investors.

"In this model, traders are equivalent to promoters. The more users they attract, the more transactions they make, and the more money they make." Zhang Xuyao ​​revealed that many exchanges will return 15%-30 % of the commission to the trader.

If it is profitable, traders will use various means to brag about themselves and package themselves as general victors in the currency market. When guiding retail investors to invest, they will also require retail investors to open high leverage, and set easy-to-achieve stop-profit and stop-loss points-in this way, frequent transactions by retail investors will generate a lot of handling fees.

In addition to this, exchanges and traders also have a cooperation model, the so-called "deep cooperation".

At this time, the exchange will directly make counterparty orders with retail investors. When retail investors lose money, the exchange will make money, and part of it will be returned to traders.

"Some exchanges themselves are liars, and they will modify the data to make retail investors lose money." Zhang Xuyao ​​said, "But there are also some well-known exchanges in the currency circle that will bet against retail investors, and they can make money without modifying the data."

He explained that in the currency circle, because of the strong speculation, the mentality of most retail investors is not stable, the weakness of human nature will be exposed, and long-term investment is bound to lose money.

"For exchanges, betting against retail investors is the most successful model, with almost no loss." He said, "In the eyes of exchanges, most retail investors just send money. The heavier the gambling, the more frequent the transactions people, the faster the money will be sent.”

Ironically, in the process, many traders add fire as well. They even incite the emotions of retail investors, making them chase the rise and kill the fall, causing greater losses.

"There are also some unscrupulous traders who will charge retail investors a certain 'transaction fee'. If retail investors make money, they will give him 20% of the money; if they lose money, they don't care." Zhang Xuyao ​​said.

Some practitioners in the currency circle pointed out that from the experience of the traditional market, the documentary platform will occupy a place in the currency circle, but it is impossible to become the mainstream of the industry. This model is actually a false proposition.

fraud rampant

With the rise of many documentary platforms, scams related to them are also emerging in an endless stream.

Xiao Wang, a player in the currency circle, recently received several harassing calls. The person on the phone claimed to be the customer service of a leading exchange in the currency circle. He wanted to add him to WeChat, take him into the internal group of major customers, and lead him to make money.

After he joined the group, a teacher began to share his investment experience and asked Xiao Wang to open an account on an exchange he had never heard of.

The teacher said that he can personally guide Xiao Wang to operate and guarantee to make money.

"At this moment, I knew that they must be liars." Xiao Wang told a blockchain.

In addition to this kind of blatant scam, there are also people who have packaged the copying model as a fund.

A project called Followme Token does just that. It claims to be an "aggregation contract service provider" and has gathered a number of "great god-level teachers who bring bills". By copying orders, you can get a monthly income of 15%-300%. "It's hard not to make money."

Followme Token also claims to have reached cooperation with leading exchanges such as Huobi and OKEx. "The money is all in the exchange, and the platform helps users conduct transactions and manage assets through the exchange's API. There is no need for players to recharge, and they will not run away."

But it's still a fund.

For example, A Dong, a senior fund player, said that Followme Token will require players to charge money to the "TEC Coin" exchange, "it is the same as Followme Token."

The so-called "do not touch the player's assets, all the money is in the exchange" is nothing but rhetoric.

However, there are no real "traders" on Followme Token—the so-called traders are just investment products with different investment thresholds. Players can obtain static income if they choose them.

For another example, Followme Token supports the dynamic income method of pulling people's heads: as long as you directly recommend more than four people and meet certain requirements, you can become an IB member with a "monthly income of 10,000+".

This is obviously drawing a big pie.

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Followme Token membership level table

In A Dong’s view, documentary trading not only creates a gimmick for funds, but also provides an excellent means of escape. “The platform said that the teacher who brought the order made a mistake and broke the position, and you have no way to refute it.”

Today, Followme Token has been completely suspended, and the official website can no longer be opened.

The so-called documentary platform is nothing but a scam.

"Invest with the master, and earn money easily." In the currency circle, the more tempting the copywriting, the more vigilant it is.

And it was harvested in a fancy way.

* Some interviewees in this article are pseudonyms.