The story behind Taylor
A conversation with Taylor’s CEO, Fabio Seixas, to shed light on this innovative project.
Taylor will change the way crypto trading is done today, making it accessible to anyone, regardless of experience. Do you want to get involved with trading cryptocurrencies? Are you already trading but frustrated with the time required? Your life is about to become a lot easier. Stay tuned.
On November 28, 2017, Bitcoin’s price reached its all-time high of 13,000 USD, soaring over 1,200% in 2017 alone. Never in recorded history has a payment system achieved such a pace of price appreciation. Major financial institutions, such as the investment bank Goldman Sachs and the Chicago Board of Options Exchange, have definite plans to adopt Bitcoin as a commodity that could be traded conventionally like stocks, gold, and national currencies. It proves that Bitcoin and cryptocurrencies are here to stay and on their way to mass adoption
Cryptocurrency trading has never been so attractive. In fact, no other investment opportunity has proven to be so profitable. However, trading crypto has many challenges, the decentralized and unregulated nature of cryptocurrencies creates an environment of incredible price volatility. There are over 1,000 cryptocurrencies and 7,000 markets (at the time of writing). Making profitable trades requires close monitoring of these cryptomarkets, significant amounts of time, extensive knowledge of technical analysis and large doses of pure luck. However, what if there was an assistant tool that performed the hard work, so you would not have to? A tool that would monitor the market looking for potentially profitable investments, and once it was found, would send a signal to the user, who could immediately take action using the built-in trading platform. What if this tool would work tirelessly delivering various signals 24 hours a day, every day. The great news is that this tool is almost here, and it is nothing but revolutionary.
Taylor is the name of the project that is about to change the way cryptocurrency trading is done today. In a candid conversation with Fabio Seixas, Taylor’s CEO, he goes into detail about the conception of this incredible tool and its functionalities. Introducing the Taylor app in Fabio’s own words.
1. How the Taylor concept came to life?
The concept came about when Thiago Régis (one of the founders) developed a market monitoring both for identifying possible profitable trading opportunities based on the popular strategy called scalping. At this point, one thing became clear: identifying opportunities was only one part of the problem. Performing the necessary operations required a significant amount of work, the process was slow and susceptible to mistakes, therefore, raising the level of risk. Upon the identification of this problem, he came up with the idea of an all-in-one app, that combined the informative market signals with a trading platform — that would handle most of the required trading operations.
2. What were the initial challenges?
The first challenge was to validate the Idea. We developed a simplified desktop application. Luckily it worked just the way we imagined. Other challenges came up, such as putting together development, marketing, and design team. As well as, how to launch and structure the token sale and the necessary monitoring bot strategy enhancements.
3. How did you meet each other?
I have been involved in the digital market for many years. I have launched numerous online businesses, which solidified my reputation in this specific field. A few years ago, I became quite interested in Bitcoin and started posting about it frequently on my social media channels. Thiago was one of my followers, and he reached out to me via direct message and presented the project. I decided that I wanted to meet him personally to learn more about his idea. We started to have frequent lunch meetings, and we became business partners.
4. In what phase of the project did you come on board?
In mid-2017, when we were gathering the initial feedbacks about the desktop app, which served as a proof of concept.
5. How both of you complement each other in this project?
Thiago Régis is an avid developer, with extensive experience in the field. I, on the other hand, although being a developer as well, decided to take a different career path and became an entrepreneur. I started various businesses, and in the process, improved my management and marketing skills. The combination of our experiences and talents makes us a good team.
6. How was the app developed?
7. How was the app tested?
We invited some traders that we knew, as well other ones that we followed. We offered them the application so that they could test it freely. We asked them to provide feedback about the signal’s quality and improvements that could be done in the app.
8. What were the test results?
The results were better than we expected. The trading success rate was in average 90%. We received many suggestions for the app functionalities, which help us shape the project roadmap.
9. How was the initial investment obtained?
We decided to start a private pre-sale. We invited our personal network of contacts and some influencers in the cryptocurrency trading field that we believed to have synergy with the project. We were able to raise 500 ETH in a few weeks.
10. How was the initial investment allocated?
The capital raised in the private pre-sale phase is being invested in our team and token sale marketing. Moreover, a good chunk of it is being used on services development.
11. The public token sale will begin shortly. What are the challenges of launching a global token sale campaign?
Launching a token sale campaign locally is a challenge on its own. The fact that our campaign is global brings out entire new ventures, such as creating content in other languages, taking into consideration and incorporating different jurisdictions and legislations. Marketing is quite a challenge as well, considering the number of projects, performing public token sales in search of potential investors.
12. How much do you hope to raise?
We hope to raise up to 7,000 ETH.
13. How did you come up with this amount?
One of our criticism regarding the ICO phenomenon is that the startups raising money through this instrument are raised too much capital, much more than is in fact needed for starting operations. I know from experience what it is like to start a business with and without investment. I believe that the abundance of money is not healthy for business. When an entrepreneur has access to too much money in a small period of time, it often leads to impulsive, and sometimes unreasonable decisions. Abundance is great, but when it comes to business, restraint forces who is in charge to carefully consider every decision he or she makes. Working with a more limited capital resource leads to healthy restrictions for business development. It forces the entrepreneur not to get accommodated in search of necessary results for the success of the business in the long term.
14. How would you compare the Taylor app with competitors?
There are many cryptocurrencies signal services in the market, some of them with excellent success rate. However, there is no efficient solution that incorporates a quality signal service and the ability to trade, all in one app. This is our major advantage.
15. Why was the “scalping” strategy selected as the first one?
Scalping is an investment strategy that performs high-speed operations, sometimes in seconds or minutes. The profits are small, between 1% and 3%. This strategy was selected as the initial one to be programmed into the system because it provides a better user experience of the service. It allows the user to witness many trading operations throughout the day, instead of more extended trades that sometimes last days.
16. Are there plans to implement other strategies?
Sure! Several strategy possibilities could be implemented. In fact, we are already drafting a few. The cryptocurrency trading market is quite broad, allowing the use of various strategies. However, we intend to focus on the ones with a short-term approach.
17. What are the short, mid and long-term plans?
At the moment, we are about to start our token sale campaign. In the first semester of 2018, we intend to have the token generation event for the Taylor token (symbol TAY) and get TAY listed on market exchanges. We also plan to launch the first version of the mobile app, and the service will be free for 3 months. Later in 2018, we expect to be listed in more exchanges, and we will implement more trading/market monitoring strategies in the service. We have a lot more planned for the long-term future, but, so far, these are our initial and tangible goals.
18. How much is the service price?
The app’s first version will be free of charge for the first 3 months, after that, the service will cost 60.00 USD per month. Users who pay using TAY token may get discounts for the service fee and access to premium features.
19. How did you come up with this figure?
This price allows us to operate and develop the project without restriction, and can easily be paid by the user with the profits generated by the Taylor app. It is a win-win situation.
20. In your opinion, what impact will the Taylor project have in the cryptocurrency trading universe?
Our mission is to make cryptocurrency trading more accessible to inexperienced traders and create new profit opportunities for the experienced ones. We believe that we are paving the way for the mass adoption of cryptocurrencies, reaching 100 million users.
21. Why the name Taylor? Where did the idea come from?
The name Taylor was inspired by the name of a character from the Billions series produced by Showtime and distributed by Netflix. The character is a young analyst who gains confidence from the boss Bobby. After brilliant insights into investment opportunities, the boss goes on to say that “at any given time, Taylor is usually the smartest person in the room”.
Moreover, it is just what we want to achieve with the Taylor project. We want to be the smartest service on the market when it comes to identifying investment opportunities in cryptocurrencies, adding to it the ease of trading, something that not even Taylor from Billions is capable of doing.