How To Make Automated Trading Work For Your Crypto Investments With Oleg Giberstein From Coinrule - Crypto Breakdown April 13, 2022
12m | Apr 13, 2022Episode Summary:
In this episode of the Crypto Breakdown, I talk with Co-founder and COO of Coinrule.
BZ: What is Coinrule?
O: Coinrule helps investors to build automated trading strategies for cryptocurrencies. So you use an if this then this logic o build strategies through CoinRule, which then run on your exchanges, like Coinbase, Binance and so on.
You can think of it as we give your crypto exchange account superpowers.
BZ: Are you able to actually make your own indicators or do you have a template of ones that you guys have made or a mix of both?
O:It's totally a mix of both. So there are a lot of pre-made templates, which you can use, but you can also add them or you can test them on the demo exchange, so you can just see how they perform. But then also you can use indicators that are already available on the platform. Like moving coverage is relative strength, index, and many others.
And also you can connect to trading view and then run any script on trading view and connected to coin grow, which then will execute your strategy.
BZ:For any listeners out there that may be unaware on like how automated trading may be able to help them with their daily trading experience what are some, benefits of actually trading bonds or any automated crypto trading?
Sure. Think about it this way. First of all, the market doesn't sleep, right? It's 24 7 open. There's no way for us in individual trade there to keep up with that automated trading strategy to protect you, but also catch market opportunities when you are sleeping. You have the other benefit is that even if you are sitting in front of your chart and trading, there's no chance that you'll be able to keep track of, five, six different trend indicators in the same time. Whereas coin rule can easily do that for you.
BZ: Moving over to some future plans does Coinrule plan to ICO or release any sort of utility token in the future?
O: So the short answer is no, because it just doesn't make sense for us. Like we don't want to just like launch in another, useless token for no good reason. What we are doing case we are experimenting with decentralized finance. So we have built a small proof of concept on Solana at the moment. So our users will be able, ready to start testing that.
BZ: Is there a release date for that?
O: it's invite only at the moment.
BZ: Do you guys have any plans moving into any sort of like automated NFT trading platforms where traders can buy and sell and NFTs ?
O: That's a really interesting question because we would, in theory, we would love to do that. It's just much more complex because the way, because of the way, how NFTs are traded on platforms like OpenSea. So at the moment, that's not really an option. But then already today, some NFTs are getting tokenized. So you get basically tradable tokens that represent in NFT. And if those are listed on an exchange, you can trade them through coinrule already.
BZ:Does Coinrule have any sort of a leveraged trading or any sort of strategies for people that want to do any sort of leverage?
Yeah, absolutely.You can already trade through Coinrule on Binance futures in BitMEX. So you can build automated trading strategies for leverage. In fact, one of our absolute top performing templates has been the Heikenashi indicator which is the leverage trading strategy that, that kind of looks at average candle bars.
And it's made over 70% return in the last month or so, which as the market being a bit sketchy, that's been a top performer.
BZ:I want to pick your brain on what you think just generally about decentralized finance.
O: I think in a way, maybe we're thinking about it wrong because the DEFI stuff out there today, the UNISWAPS,etc. Like they will never be used by like normal people. They like, that's just not going to happen. Yeah. Ideally will happen at some point is that, banks and other providers will use them in the backend.
And then, the normal people will have their extremely easy front-end application, but that gives them access to, seven, 8% returns rather than 0.1% returns. That's for me, the best possible world. At the same time we do keep the openness and the permission business of it, which means that still anyone can just go out and hack stuff on.
They can build stuff on it. And if it takes off, you can easily plug and play, integrate the different, protocols and platforms with each other. And those front-end providers will be able to use them to then give more and more. Effectively, it returns in yields to like normal people who just would just want to be able to supplement their income with, some form of passive income.
That's the ideal case to onboard new users. Think about it this way. How many people create YouTube videos versus how many people watch YouTube videos?
BZ: Where do you see the future of NFTs as we're just scratching the surface?
O: We're not quite getting into the actual applications of these non fungible tokens. So do you think it's more, it'll fizzle out or do you actually see a real a real utility here with. So I think we are just scratching the surface in terms of what's actually possible with NFT sets of technology.
So a lot of people think of NFTs as it's like this picture of the ape, and obviously that's like culture is an incredibly useful use case. There'll be so many, things and it will integrate with Instagram and all this stuff. So th that will definitely play a big role.
What's also really interesting for me is NFT technology. So like NFTs that would present a unique identity. And if these that represent your credit score, maybe NFTs that represent your wallet, which then other people can, copy trait. So like you can just create your own, ETF fund through your wallet that then other users follow.
Or through this NFT, like there are many ways and we're just really getting started here, it's so cool. And I think really also with the whole just the entire blockchain ledger and having an actual proof of ownership, I think behind the, in the backend of NFTs, I think that is so important.
Most even traders haven't really grasped the fact of that actual proof of ownership. We haven't had anything like it before that's actually verified on a ledger. There's so many use cases. It's almost endless. Absolutely. Like another analogy I like to use here is like when the internet was really starting to go mainstream in the nineties, not like even the idea of like smartphone.
What's not the thing let's say we're talking, not that far out, that's like 10, 15 years south. But no one would have predicted the iPhone. So imagine what's going to be in like 10, 15 years, what people will be building with this. Yeah, no, I'm excited and it's going to be crazy.
BZ: So how did you get involved with DEFI?
O: I was working in banking until 2016 in the concept of private currencies, macroeconomics. I had written my master's thesis in sovereign debt, private creditors, that sort of thing. So crypto was for me a very natural extension, but I was really busy in banking. I had no time to actually engage with it. I left banking started my first startup and at the same time started really getting into crypto.
And I met my co-founders and my interest just really snowballed from there. And at some point I was so deep in the rabbit hole, like I just started to, live and breathe crypto and here I am.
Guest:
Co-Founder & COO of Coinrule
Hosts:
Joe Dewitt Follow at: https://twitter.com/metabitz
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