27 May 2023
Actor name: Copy Trading Actor
Actor description: A custom web scraping and automation solution that retrieves open positions of top Binance traders, analyzes performance, and helps users implement copy trading strategies.List of inputs:
: Number of top traders to scrape (i.e., top 10 or top 50), used to filter the data.
: List of trading pairs to filter results, used to focus on specific markets.
: User's Binance API key to authenticate and implement copy trading actions.
List of outputs:
: List of top traders (including name, trading volume, and performance metrics).
: List of trading actions (buy/sell orders) taken by the top traders.
List of services to build this actor:
Binance API (
) - To fetch trading data and implement copy trading actions.
Apify SDK (
) - To build the actor and manage state.
Needed capital and why: We would need approximately $50,000 for developing the actor, marketing, and providing ongoing support.Entry barriers: The main entry barrier is having deep knowledge of both the cryptocurrency trading space and Apify actor development skills.Who would pay for this service and under what situations: Crypto investors and traders looking to leverage top-performing traders' strategies would subscribe to the Copy Trading Actor. They would be willing to pay a subscription fee or a percentage of the profits generated from using the actor.Expected outcome and pricing model:
Cost: Monthly subscription fee or percentage of profits generated from using the actor.
Earnings: A percent commission for each duplicate trade executed using the actor.
ROI calculation: Assuming a $50,000 initial investment, 100 subscribers each paying $100/month, it would take 5 months to recoup the investment, and ROI would be 100% after ten months. Further growth in subscribers and positive performance from the actor would increase the ROI.Links: