Recently on 27th September, Coinrule (a crypto startup) announced the completion of a seed funding round which collected up to $2.2 million. The startup remained successful in alluring the prominent names in the industry of financial technology (fintech). The firms include Kayak, Twitch, and Fitbit. The startup firm promotes itself to be offering an automated service for crypto trading to permit the investors to have access to specialized investment strategies. Such strategies make a profit over the chief moments in the market and downside the protection of investors.
In the coming days, the company intends to incorporate some additional features regarding investment. One of these planned factors refers to back-testing options for the investors to measure the performance of the strategies based on their previous records. As per Gabriele Musella (considered among Coinrule’s confounders), the concept at the back of this firm is equality. He elaborated his point by referring to a portion of hedge funds and large investment banks’ controlled crypto market, stating that they aspire to promote normal people to be prominent in the community and be provided with the ability to apply the very strategies, in addition, to get educated while they invest.
He pointed towards the professional investors’ plans to engage different coding expert groups for the construction of investment algorithms. Another cofounder named Oleg Giberstein considers that Coinrule does the same thing for the individual investors deprived of such abilities. He mentioned that the investors do not have to be a master of those skills as approximately 200 strategies have been built by the company and the investors just need to opt for their automation. He moved on to say that the investors also have an option to create their unique strategy using plain instructions in English without bothering about the code.
Upsurge in the crypto market
Throughout the previous year, the market of cryptocurrency witnessed a significant increase regarding the interest and an active attitude on behalf of new investors, including both individual and institutional. An analyst of the industry revealed that a great extent of the industry’s upsurge is credited to individual investors. The company further plans to integrate with Binance, Coinbase, and other such exchanges. Additionally, the new funding round also permits the firm to expand the market along with availing of the platform’s social elements.