TradersBit Launches In Beta, Announces First Trading Competition With Reward Worth 1 BTC

TradersBit, a martketplace for streams of Bitcoin trading signals, has launched in Beta and has announced the launch of its first trading competition. It provides a platform for publishers and subscribers, interested in trading streams of Bitcoin trading signals, to interact with one another to earn money.

TradersBit is developed and run by Cluda, located in Nesbyen, Norway. The company explained that publishers create streams, send trading signals to streams, and sell subscriptions to streams. Publishing is free and signals can be published through the website or API.

The publishers of the streams will set the monthly subscription fee and on selling subscriptions, they will earn 70% of the subscription fees. TradersBit receives the remaining 30 percent, meaning it will earn profit only when the publishers make profits.

The marketplace displays the statistics for each stream’s performance, which also includes trading fees. Subscribers will be able to browse and sort streams on the basis of average monthly profit, average trade, and other indicators.

For simulating trades (Long, Short, Close), TradersBit uses the last price and 0.02% fee (takers fee) and each signal will simulate a trade using all assets available.

At present, each user can have three streams each. Moreover, the company warned that there should be one account per user and users with multiple accounts might be banned and disqualified from all competitions.

Competition

TradersBit also announced the launch of a trading competition as part of its debut saying that it is going to be the first of many. Skilled traders will be able to compete for the prize of 1 BTC and the signal stream with the largest simulated net profit by 5 March 2016 23:59 UTC will be the winner. Every publisher can enter up to three streams in the competition.