The cryptocurrency market is infamous for its volatility. In December 2017, many cryptocurrencies saw their “daily percent growth” [wtv the industry term is for this] in the triple digits. The regulatory environment is still taking shape in many countries. When there are new rules and regulations, professional traders get spooked and sell off, which leaves retail investors “holding the bag”.
Blockchange Digital Assets, a Silicon Valley based start-up, supports the retail investor by providing a quick and efficient way to react to market change. While there are many products available that assist with execution, such as trading bots or custom pieces of code that automatically react to market conditions by executing trades on behalf of the user, these tools require functional expertise in programming and intimate knowledge of market mechanics to be effective. Blockchange has created a user-friendly application that allows users to manage their assets across multiple exchange accounts and adjust the allocation of their portfolio without ever having to initiate specific trades. “The interface was built to prioritize decision-making over the tedium of execution,” says CEO, Daniel Eyre.
CTO, Daniel Rothrock, outlines his approach for building the platform, “We noticed that a lot of actions could be optimized to directly benefit users.” If exchanges are like airports, then cryptocurrencies are like locations; not all airports service all locations. When someone wants to transfer from one coin to the next, they either need to select an exchange that supports both coins or do multiple cross-exchange transfers before they reach their desired holdings. “It’s not humanly possible to look at all exchanges and select the most cost-effective route in a short timeframe. This is what makes the platform useful…it optimizes the route for you.”
Blockchange leverages price differences across exchanges to find customers the best price and automatically generates orders and transfers to execute the optimal sell or buy path. This is similar to a technique used by advanced or professional traders called arbitrage. However, the functionality present in the Blockchange product is simpler and more accessible to everyday investors.
Check out https://blockchange.ai for more info.