HedgeTrade launches platform for crypto social trading

By Sunniva Kolostyak

HedgeTrade has announced the full launch of its crypto social trading platform, an open market for which allows experienced traders to earn tokens by publishing and selling prediction blueprints.

The company launched its invitation-only beta in December last year and initiated the public beta in March. Since then, both experts and novice traders have been posting and purchasing the so-called prediction blueprints – trading predictions with specific entry and exit points.

David Waslen, CEO & Co-Founder of HedgeTrade, explained that the platform was built for and by traders as a place for crypto trading novices and experts to come together, share ideas, and earn tokens.

“In times of global economic uncertainty, people are looking for reliable information and our platform is all about transparency. You can always check the performance of users posting Blueprints and with the way our rewards are set up, users only pay for useful, accurate predictions,” Waslen said.

HedgeTrade noted that its platform has earning potential on all sides of the model – experienced traders can earn HEDG tokens when selling blueprints and stake HEDG to back up their forecasts. Moreover, they can build a reputation built on a ranking system that measures the quality of their predictions.

On the other side, novice users will benefit from buying or unlocking blueprints that can be used to make cryptocurrency trades. If the prediction proves correct, the trader who created the blueprint gets their stake back and earns the proceeds from the purchasers, otherwise, the blueprint buyers will be refunded their tokens, with the first group of buyers earning a share of the lost stake.

The platform has added a leaderboard based on feedback made in the beta stage, which can be sorted by success rate, average profit potential, blueprints closed and HEDG earned. Novice traders can follow their favourite experts and receive notifications.

Users can also track a trader’s success rate before choosing to purchase a blueprint – when a user buys a blueprint that is not correct, they get their money back and a chance to make a profit from the trader’s lost stake. In that way, users only pay for good information.