Cryptocurrency wouldn’t be half as fun without the ability to buy, sell and trade altcoin holdings.
In this 4 question interview we talk with Sebastian M., a key player at CoinNext exchange.
This up and coming exchange is working hard to gain adoption among Cryptocurrency enthusiasts and offers some tasty incentives for using their trading platform. We’ll let Sebastian M. take the center spot and tell the story of CoinNext in his own words.
CoinNext Exchange Makes Trading EasyCoinNext is a promising Altcoin Exchange. Please tell us a little about the company and your team. Our team consist of two founders. Dumitru is one of the best engineers you’ll ever come across, he build the nitty gritty of the exchange. Myself, Sebastian, am responsible for the design and product development. This is not our first venture, we are both early Bitcoin adopters and we’ve previously build and sold a Bitcoin startup in what was one of the first bitcoin acquisitions ever. We are well experienced in creating applications with millions of users that transact up to several hundred of thousands USD on a daily basis, it’s fair to say starting this exchange felt almost like a natural fit.
We started working on Coinnext late 2013, I was a fairly active coin trader but felt the current exchanges were not up to par and certainly not fit to scale in this fast growing landscape. The main problem was that I just couldn’t trust them with my hard earned coins. Most of them were just hiding behind a nickname, how can I trust thousands of USD worth of cryptocurrencies to a nickname? It is by realising this that we basically started working on our own solution, Coinnext. It’s an exchange where we personally would feel comfortable trading, one that is transparent and professionally build from the ground up. In essence, originally we made Coinnext for ourselves. We launched our first version just two weeks ago and it has been very well received by the community. We are now fully dedicated to Coinnext and we will keep on pushing to reach our everlasting goal of delivering the best trading experience possible to our customers. What do you feel is key to providing an Altcoin exchange that people rely on for their daily trade activities?
Trust is the absolute most important factor in building a cryptocurrency company, and exchanges are definitely not an exception. Exchanges who still operate in complete anonymity or worse, illegally, will slowly fade away. The second most important is liquidity, this is a network effect that can be very hard to gain and in some cases sadly also very hard to lose. People who sign up to an exchange have a personal goal to sell or buy a certain coin, simple as that, everything else comes second. If they can’t do that, they will go anywhere else, even if that means trading on a shady exchange and risking their coins.
Do you currently have any promotions or incentives for using CoinNext?
As a launch promotion, we’ve scrapped all trading fees for the first 3 months. This makes us currently the cheapest destination to trade your coins, anywhere. So it’s definitely worth considering signing up and checking the markets now and then, even if you don’t intend to use us as your “mainв-exchange for now. Cryptocurrency is a fast growing vertical.
Do you have any plans that you can share to handle this growth as a service provider?
The cryptocurrency world is indeed growing tremendously fast, a quarter feels like a year in this industry. Luckily we have several years of hands on experience scaling web applications to millions of users, so from a technical point of view, we are pretty confident. However, as the market grows, more and more companies will flock towards it, many going after the same opportunities. Competition will heat up, which is always a good thing for the consumer, but many exchanges will come and go before we will reach a consensus. For us, our most important role is to be there for our traders, now and along the way of this growth path. We might not exactly be sure yet where cryptocurrencies will take us, but as an exchange we have the crucial role to stay on the edge of that highway of innovation we’re all driving on. Coin NextCoinNext Is Poised To Handle GrowthAs you can see, CoinNext is making significant strides to become a leader in the Altcoin exchange vertical. Their trading platform supports numerous altcoins, including Bitcoin, Litecoin, Dogecoin, Vertcoin and many others. A chat box on the site allows registered users to interact with each other live on the site, so you can even make new friends there. If you haven’t already, be sure to check out their site and initiate a trade or two – 90 days without fees makes it even better! Readers can also get updates from CoinNext at Twitter.
Thanks Sebastian for your time and helpful answers!