How To Make Automated Trading Work For Your Crypto Investments With Oleg Giberstein From Coinrule - Crypto Breakdown April 13, 2022 - Transcripts

April 13, 2022

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Episode 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:

Oleg Giberstein

Co-Founder & COO of Coinrule

Hosts:

Joe Dewitt Follow at: https://twitter.com/metabitz

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Transcript

if you're not already listening to the stack overflow podcast, you need to check it out As one of the leading technology podcasts for 13 years running. It's your resource for what's happening in software development today. The stack overflow podcast hosts conversations with developers and leaders at top tech companies focusing on the art and practice of programming from rails to react from java to know. Js. It'll help you understand how technology is made and where it's headed. Check it out today at stack overflow dot blog slash podcast at Metro by T mobile. We're giving you more savings. Get the new iphone sc now with five G at the lowest price in pre paid just 79 99 when you switch, I post a lot. So I need a phone that keeps up with me and thanks to the iphone sc with five G and advanced four K. Camera. I'm snapping and Sharon while my followers are smashing the like button switch and get the iphone sc for just 79 99 only at Metro limited time offer in store only price for 64 gigabyte model with eligible ports, $60 plan and I D C five G device coverage and access details at metro by T mobile dot com.

Hey everybody, my name is joe Dewitt and this is the crypto breakdown on here. I'll be getting you caught up on everything you need to know regarding crypto, any relevant news, anything that you missed. Don't worry about it. We'll cover all that good stuff in the morning before you go out and start trading. Hey everybody happy Wednesday. My name is joe do it and this is the crypto breakdown and today I'm with co founder and Ceo over at coin rule oleg Bernstein. Oh like how we doing man, I'm great, how are you? Thanks for having me, joe. Yeah, absolutely. Thanks for coming on the show with us. So to kick things off and get started. I think it's best um just for some listeners out there that are unaware of the platform for you just to give a quick brief rundown on what coin rule actually is.

Sure. So coin, who helps investors to build automated trading strategies for cryptocurrencies? Um so you use an if this then that logic to build strategies through coin rule which then run on your exchanges like coin based finance, crack and and so on. Um you can think of it as we give your exchange, crypto exchange account superpowers. So are there, are you able to actually make your own indicators or do you have kind of a template of, of ones that you guys have made or kind of a mix of both. It's a mix. It's totally a mix of both. So there are a lot of pre made templates which you can use but you can also edit them, 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 coverages, 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 rule which then will execute your strategies on coin rule awesome. And for any listeners out there that may be unaware unlike how automated trading may be able to help them with their daily training experience. Um What are some you know benefits of actually like trading bots or any automative 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 and individual trader to keep up with that. Um automated trading strategies protect you but also catch market opportunities when you are sleeping the other, 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 you know 56 different trend indicators at the same time. Um Whereas coin, you can easily do that for you, yep, awesome, kinda gives you that hedge against those institutional investors as well for the being the little fish trading on the platforms. Um Moving over to kind of some future plans. Does coin rule plan to um I. C. O. At all or release any sort of utility token in the future? It's an interesting question we get asked that sometimes. So the short answer is no. Um because it just doesn't make sense for us like we don't want to just like launch another you know useless token for no good reason.

What we are doing is we are experimenting with decentralized finance so we have built a small proof of concept on Salon at the moment so our users will be able ready to start testing that soon. Oh that's super cool. And then there's no release date for that yet. It just kind of in the works. Yeah well we have we have the first version life but I mean it's invite only at the moment so if you're interested just think us. That's awesome. Um Do you guys have any plans moving into any sort of like automated N. F. T. Trading platforms where traders can kind of buy and sell in FTS is it's becoming increasingly popular? That's a really interesting question because we would in theory would love to do that. Um It's just much more complex because the way because of the way how N.

F. T. S are traded on platforms like open C. So at the moment that's not really an option. But then already today some N. F. T. S are getting tokenized. So you get basically tradable tokens that represent in N. F. T. And if those are listed on an exchange you can trade them through coins already today.

Cool. Um How about this coin will have any sort of leverage trading or any sort of strategies for people that want to do um any sort of leverage. Yeah, absolutely. We you can already trade through coin ruling been in futures in bit max so you can build automated trading strategies for for leverage. In fact one of our absolute top performing templates has been the so called hike in asCIi indicator Um which is like a lot of leverage trading strategy that that kind of looks at average candle bars. Um and it's it's it's it's made like an over 70% return in the last month or so, which obviously the market, the market being a bit sketchy that that that has been an absolute top performer. Yeah. Um I guess moving over to just like some general defi questions, I kinda wanna pick your brain on what you think just generally about decentralized finance. So um as you know, we're moving into this kind of right now, this perfect era of the mixture of centralized finance with the decentralized finance um what are some of the biggest issues you think of when trying to onboard people to the decentralized finance and over to Blockchain tech. Yeah, that's yeah, that that the the onboarding part is definitely like a complex topic, isn't it? I think in a way maybe we're thinking about it wrong because um the the defi stuff out there today, you know the unit swaps, the curves, the compounds etcetera, like they will never be used by like normal people, they like that's just not going to happen. What Ideally will happen at some point is that, you know, banks and other providers will use them in the back end and then, you know, the the normal people will have their extremely easy front end application but that gives them access to, you know, uh 78% returns rather than 0.1% returns.

That's for me, the best possible world, but at the same time we do keep the openness and the permission lawlessness of it, which means that still anyone can just go out and hack stuff on it can build stuff on it and if it takes off you can easily plug and play, integrate the different, you know, protocols and and platforms with each other. And those front end providers will be able to use them to them give more and more and more effectively returns and yields to like normal people who just who just want to be able to supplement their income with, you know, like some form of passive income. That's the ideal case to onboard new users for me. Yeah. Yeah, absolutely. And I like what you said, like there's just kind of too many options now with all the different decentralized exchanges decentralized swaps, you know, most people aren't gonna have to or even have time to really educate themselves on all of the different platforms out there and yeah, those front end um all those applications and like banks for them to create a sort of, you know, decentralized um platform for people just to, you know, sink their teeth into and kind of introduce them into defi. Yeah, I think that's definitely the route. Think think about it this way. I mean how many people create youtube videos versus how many people watch youtube videos? Like that's a way of of kind of putting the same problem into web two world at the end of the day, you don't need every single person to be making youtube videos for Youtube to have completely changed, you know, the culture in a lot of ways. And it's going to be the same, it's going to be the same with defy you have a like you still enable a significantly larger amount of creators and builders to participate in that ecosystem compared to the traditional world to finance? Um The benefits still go than to pretty much everyone who who wants to engage with it as a consumer as well, I guess on the as we stick to the general speck of defi, where do you kind of see the future of N.

F. T. S. As we're kind of just scratching the surface, you know right now, it's really just heavily traded were not quite getting into the actual applications of these non fungible tokens. So do you think it's more, you know, it'll kind of fizzle out or do you actually see a real um you know, a real utility here with N. F. T. S. Mhm. So I think we are just scratching the surface in terms of what's actually possible with N. F. T.

S. As a technology. So a lot of people think of N. F. T. Says oh it's like this picture of the, the ape, you know, and obviously that's that's like culture is an incredibly useful use case. Like there'll be so many, you know, things and it will integrate with like instagram and all this stuff so that that will definitely play a big role. But what's also really interesting for me is there's N. F. T. S. As a technology.

So like N. F. T. S. That represent a unique identity and FTS that represent your credit score, maybe N. F. T. S. That represent your wallet which then other people can, you know, copy trait. So like you can just create your own, you know, E. T. F.

Fund through your wallet that then other users follow just all through this N. F. T. Like they're absolutely many ways and just we're just really getting started here, you know, it's so cool and I think really also with the whole um you know just the entire Blockchain ledger and having an actual um you know, proof of ownership I think behind the in the back end of N. F. T. S. I think that is so important and like you know, 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 it's almost endless. Absolutely. Like another analogy I like to use here is like when the internet was, was really starting to go mainstream in the nineties, not like even the idea of like smartphones was not a thing, like that's like we're talking, you know, not that far out, that's like 10, 15 years out, right?

But no one would have predicted the iphone, So imagine what's going to be in like 10, 15 years, what what people will be building with this, you know, I'm excited and it's gonna be crazy for sure for sure. This is gonna be my last question, it's my favorite one to ask and you know, I just got to do it. So how did you get involved with defi and like kind of how did you dip your feet into decentralized finance? And I'm curious. um so I was working in banking myself, that was until 2016, but was myself really interested in kind of the concept of private currencies, macro economics. I had written my um fill my master's thesis about like sovereign debtors, private creditors, that sort of thing. So kind of crypto was for me a very natural extension, but then I was so busy in banking, I had no time to actually engage with it. I left banking started my first startup and started, but at the same time, started really getting into crypto and I met my co founders with whom I started calling Gabriella and satanic and it's kind of like my interest just really snowballed from there and at some point that was so deep in the rabbit hole like I just started to you know, live and breathe, define crypto and here, here I am and that's all the time we have for today guys, thank you so much for coming on the show and talking to us man. Thank you joe. Thanks for having me quickly. I just want to say that this is not financial advice. I encourage everyone out there to please do your own research before investing in cryptocurrencies as they are very volatile assets.

If you're not already listening to the stack overflow podcast, you need to check it out as one of the leading technology podcasts for 13 years running. It's your resource for what's happening in software development today. The stack overflow podcast hosts conversations with developers and leaders at top tech companies focusing on the art and practice of programming from rails to react from java to know. Js it'll help you understand how technology is made and where it's headed. Check it out today at stack overflow dot blog slash podcast. Does

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Mm hmm. If you're not already listening to the stack overflow podcast, you need to check it out as one of the leading technology podcasts for 13 years running. It's your resource for what's happening in software development today. The stack overflow podcast hosts conversations with developers and leaders at top tech companies focusing on the art and practice of programming from rails to react from java to know. Js. It'll help you understand how technology is made and where it's headed. Check it out today at stack overflow dot blog slash podcast at Metro by T Mobile. We're giving you more savings. Get the new iphone sc now with five G at the lowest price in pre paid, just 79 99. When you switch, I post a lot so I need a phone that keeps up with me. And thanks to the iphone sc with five G and advanced four K camera, I'm snapping and Sharon while my followers are smashing the like button switch and get the iphone sc for just 79 99. Only at Metro limited time offer in store only price for 64 gigabyte model with eligible ports, $60 plan and I.

D. C five G device coverage and access details at Metro by T mobile dot com.

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