its a great initiative to keep the traders active and keep an eye on Index,
However my question is as below…,
a) where does these fund come from to award the winner, as in a week you spend almost 4 lakhs to reward.
b) nothing is free in this world… so to the point what do you get by this crowd index and how you are benefited ?
c) when you said cash reward … what is the mode of transaction?
d) is it mandatory to be a active account holder in Zerodha to get this reward?
Hope you answer these…
, the bigger idea with http://crowd.in/ is not to get the traders keep an eye on the index, but we are hoping that the gamification will bring in people who don’t know about the markets into the fray. If it was only meant for traders, we wouldn’t have kept it this simple.
a. Yep we are spending Rs 4lks/month on this, it is a bet that we are taking that we will be able to make this popular among the crowd.
b. As I said, the bet is that we will be able to introduce more people to markets and also to our brand. Instead of putting up google ads or getting a hero/heroine to endorse, we believe that innovation is what can help spread the word.
c. Money is transferred to your bank account.
d. No, not mandatory to hold an account with Zerodha
Wow, great. Keep up the good work, Nithin…
Nice Nithin, thank you for the info.
I am curious to know what would happen if any trading holiday appears in a week, like next week friday is a holiday(ganesh chaturti)? Will the cash price get reduced to 80K per week?
No, it will remain at Rs 1lk