Best Startup
Coinrule is a smart assistant that enables people who trade crypto currencies to build trading bots without having to program a single line of code. Coinrule makes it easy for regular investors to automate their crypto portfolio management. Trading is hard and markets are always open but volatile. Professional traders are able to code advanced bots and use sophisticated trading tools but regular retail traders do not have access to these tools. Coinrule provides investors with a beginner-friendly guided interface that allows them to develop simple and advanced strategies in an If-this-then-that style interface.
Coinrule is built on the If-this-then-that (IFTTT) principle. With this principle you can build trading rules for specific conditions: ‘If the price of Bitcoin goes up 3% and volume goes up 5% within 3 hours, buy $500 of BTC with my USDC wallet’. You can also test your rules on a Demo Exchange before launching them live in the market.
Vision and Mission
The vision that drives the team is based on the belief that Alternative Finance will be the answer to the growing financial exclusion of millennials and the younger generation from the modern financial system. The ability of the richest parts of society to access financial products that are not available to any other group is one of the key drivers of growing wealth inequality worldwide. Today, 3 out of 5 Millennials do not invest in stocks and the holdings of the other 2 are lower relative to the previous generation.
Coinrule’s mission is to prevent the world of Alternative Finance from being taken over by professional traders such as Hedge Funds and High-Frequency Funds. The retail investment market needs access to advanced instruments in the hands of users, not fund managers, to be able to retain its fair share of financial opportunities. By providing extremely easy to use tools for trading as well as guidance and help along the way, Coinrule is the platform that once again levels the playing field between retail and professional traders.
Coinrule is creating an investment ecosystem for millennial traders that will help them maximize their financial opportunities in a fun, educational and trusted way. Our vision is to be the Bloomberg Terminal of the Future that helps Millennials become a part of the new financial system.
Tell us about yourselves? What is your background? What made you get into this line of work?
My background is in product management and design. I was always interested in token economics and crypto, so when I left Banking, I connected with the fintech community and started Coinrule in 2018 together with Oleg and Zdenek when that opportunity opened up.
What is the inspiration behind your business?
All of us (the founders and the other team members) are crypto traders without the technical skill (or time) to build trading bots, without a ‘classical’ trading background and without the ability to commit significant amounts of time to trading. Coinrule is the tool designed to make OUR life easier. We subsequently interviewed dozens of crypto traders and it turned out that we were not the only ones with this problem.
Roughly 70% of over 150 crypto traders we surveyed and interviewed stated that they are unable to program trading bots and are uncomfortable to buy third-party bots due to security risks. For us millennials and most of the younger generation, crypto assets are the first asset class we are truly comfortable to trade. Yet this is also a 24/7 market with a large degree of non-sophisticated traders such as ourselves.
Coinrule provides exactly the trading tools that we need for the crypto trading revolution.
What is your magic sauce?
Unlike the vast majority of the current market, Coinrule focuses on retail traders rather than advanced traders. Our user interfaces and user experience are inspired by companies like Robinhood, Coinbase and Revolut rather than any of the more professional trading platforms out there.
We are also building a layer of automation for cryptocurrency and other financial assets that will ultimately allow users to build automated strategies across cryptocurrencies, traditional finance asset classes and also decentralized finance applications.
An outline of your magic sauce. How do you differ from the competition?
Coinrule is one of the few players in the space that is neither a one-strategy bot solution, focused only on professional traders nor has raised funding via the ICO route which adds regulatory concerns and friction to the user experience.
However, Coinrule’s unique distinction in this space is that we understand that most people who trade cryptocurrency today are young people who have never traded any other asset class before. Trading tools that work for more ‘traditional’ traders will not cut it for a generation more used to computer games than to a Bloomberg trading terminal.
Crypto trading tools must be built that take this into account and feel more like a ‘game’ than an overtly complex and chaotic trading interface. This user-centric and beginner-friendly approach is our main distinguishing criteria from all our competitors in the space. We bring ease-of-use, transparency and regulatory compliance into a complex, unregulated market.
What is the next big challenge for your business?
We are looking at developing a mobile app for ios and Android and integrating additional asset classes such as FX, Equities and Bonds.
