October 16, 2021

Beyond Going Long

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The Slovakian has created a platform for analyzing and monitoring cryptocurrencies. Processes data from cryptocurrencies around the world – Microsoft News Center

The first cryptocurrency to be traded in the world in 2009 was Bitcoin. It was created by an unknown author or group of authors as a so-called blockchain. It is possible to obtain cryptocene by shopping or the so-called mining. Since 2009, the boom in this “digital money” has dramatically changed the world of investing and trading. Today, cryptocurrencies are commonly traded in the same way as stocks, oil, or gold.

When Richard Fetyko started trading cryptocurrency for himself, he used to help him trade the classic financial world with Bloomberg’s analysis tool. He realized that the new world of digital assets lacked a tool to monitor and analyze cryptocurrencies. He decided to create such a tool for himself and other active crypto traders. Hence, altFINS, a cryptocurrency analysis and trading tool, was created in 2017.

Information from 300 cryptocurrencies

Investors use altFINS to search for cryptocurrencies according to different filters and indicators and to identify short-term trading or long-term investment opportunities. altFINS collects data and information about cryptocurrency prices from 300 cryptobourses around the world. From the amount of data it collects and processes, it prepares various analyzes (such as average or moving average) and publishes it on the altfins.com platform. Here, users can set up notifications to alert them of changes in cryptocurrencies, such as a price change.

Capacity, Finance and Patience

Creating a cryptocurrency analytics platform was challenging. as he says Author and founder Richard Vitico: “Developing the platform required about three times more time and resources than I and my colleagues had anticipated. We were also bogged down by the need to renew funding after initial resources were exhausted.” At the end of 2019, altFINS started a discussion with investors and collaborated better with Crowdberry, as they immediately understood the vision of the startup as well as the future potential of cryptocurrencies. After the necessary legal action in August 2020, altFINS has received an investment of €1 million from it. “We used this capital for the commercial launch in April 2021. We continue to draw funds from it to develop the platform,” Vitiko explains.

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For the successful implementation of altFINS, Fetyko, in his own words, had to learn extreme patience with technology and the platform development process. Mainly because at first it suffered mainly from a lack of financial and human capabilities. At the same time, gain new skills and an overview of using a number of different digital marketing tools.

Collaborate with the whole world in your living room

Richard works from home. In addition to the team of developers at Košice, she also works with suppliers in South Africa and the Philippines and with marketing partners in the USA. He also communicates with clients from all over the world on a daily basis.

“It’s great to be working on a global basis from my living room. On the other hand, it means alerting 24 hours a day, 7 days a week, answering customer questions or solving problems in the event of a technical outage.” Explains Richard Vitiko, founder of altFINS.

Today, altFINS has approximately 20,000 users per month, and given the growing interest in digital assets, Fetyko expects the number of users to reach 100,000 by the end of 2021. Currently, this successful analytics solution is being prepared for technological change. From June 2021, it will use Azure cloud storage services and many other technology solutions from Microsoft.

Tags: Azure, Blockchain