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Deep Dive with Tommy Chan, CEO of Altcoinfantasy.com

Tommy will be live answering your questions on 22nd of April @ 12pm.

posted 9 months ago

with or if you'd like to join the discussion.
Dennis Stücken
Whats the idea and vision behind Altcoinfantasy?
1
Tommy Ch
@dstuecken I started Altcoin Fantasy after hearing about all these scam coins out there. People were blindly investing into crypto after hearing they could get rich fast. We believe that is not a good way to invest your hard earn money.

Altcoin Fantasy is a cryptocurrency simulation platform where users learn to trade cryptocurrencies risk free. Users start with $100,000 virtual USD. Make trades during the contest period. At the end of the contest, the players with the most net worth will win actual crypto! Weekly prize pool of $100s in cryptocurrencies. Absolutely free to play.

We believe the best way to learn about coins is by actually trading the them via our platform. I hope to educate 100,000 users about crypto by the end of the year. =)

https://altcoinfantasy.com/p/tokendaily
2
Greg Klich
Tommy,
First off I want to say I'm happy to see you continuously succeed, you've done quite a lot since the HBC/GE Days.

On that note, I'm assuming you use live market data for trades ?
1
Tommy Ch
@Greg-Klich heya Greg -- thanks I hope you're doing great as well!

Yes we update our market data from a couple of sources every couple of minutes to ensure the coin prices are up to date. We try to be a simulation that's as the true to the real exchanges as much as possible.
1
Haleepha Dahiru
Hey Tommy,
I want to start by saying you guys at Altcoin Fantasy are amazing. I feel you guys don’t get enough credit. Keep up the good work. I noticed you guys are working with sponsors for now. Will there be a time where investors and shareholders will be allowed to invest in the company? Thank you!
1
Tommy Ch
@Haleepha-Dahiru thanks! There are no plans yet but the topic had come up. For now our focus is to ensure players like yourself is finding value from the platform.
0
Gemini Carlos
Hey Tommy, I've been an avid fan of your game foe a while now! I signed up way back on contest #4. I really like the game because it helps me get ready for the real market, So I just wanted to know what your plans were to increase the educational aspect of the game?
0
Tommy Ch
@Gemini-Carlos Thanks Gemini! There are a few things we are working on to make the game more educational for you guys:

1.) Our users have been asking for more news about a coin so we'll be adding a feature where we send you news specifically for the coins you are holding on a regular basis.
2.) We will be adding a feature where you'll be able to follow the top traders so you can see how he/she.
3.) We'll be doing a breakdown on gainers/losers for the day in a daily digest.
0
Gemini Carlos
@tommytcchan That's great! Since I'm also actively trading (with a very small portfolio) are there any trends you see from these virtual trades?
0
Tommy Ch
@Gemini-Carlos we have over 110k+ virtual trades in our platform, and from analysing this data, what we've found was that despite all the claims of HODLing (“holding on for dear life”), holding as a strategy doesn’t work. Our most successful players tend to pick 1-2 cryptocurrencies and go all in on these and determine whether they hodl or sell based on the momentum of the coin hour by hour.

The other interesting thing is that while index funds tend to make a good investment choice for stock markets, taking the same approach for your crypto holdings, such as buying a variety of coins, doesn’t work well either.

0
Gemini Carlos
@tommytcchan yeah I tend to Hodl irl but when I'm playing I have to always be trading. Now I know that you guys do mostly free contests but lately I have seen that you now have people sponsoring your contests. How do you pick the sponsors?
0
Tommy Ch
@Gemini-Carlos when we first started, I was paying out of my own pockets (I'm fine with that since I've been in the crypto space for a few years before the craze, so I have some spare crypto) but lately brands have been asking for sponsorships. We vet the brands and the tokens very carefully. They need to prove that they have a solid team and a working app. Anyone can create an ERC-20 token so we ensure we have an internal discussion prior to accepting a sponsorship.
0
Gemini Carlos
@tommytcchan and speaking of teams, can you tell me more about your team? I'm always curious about how you guys always manage to be on top of things. Yhe apps are always working great and the prizes have always been on time.
0
Cynthia Chan
If I'm a newbie to crypto, how can i differentiate between good vs bad coins and tokens?
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Tommy Ch
@Cynthia-Chan there's a few things we do here to help. Firstly the coins that you can choose from in our contests are the exact same coins coming from real exchange that have a good amount of daily volume. In addition, the exchanges that we use are reputable ones (ie. Binance, Polo, etc). Finally, we plan to add more educational features such as coin analysis and deep diving into certain coins/tokens.
0
Jerry Tian
@tommytcchan What's the biggest insights you gathered about the crypto space?
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