Founder Of CryptoControl On Mission To Improve Trading In 'Maturing' Space

Steven Enamakel, a serial entrepreneur and the founder of CryptoControl, spoke with Benzinga about his financial data and news aggregator for cryptocurrency investments and trading.

Why CryptoControl?

Institutions and traders interested in doing business within the crypto space lack the proper tools to gather market data and “real-time insights," Enamakel told Benzinga.

With CryptoControl, he said he aims to improve the crypto trading experience by building a “Bloomberg for cryptocurrencies.”

How Does It Work? 

The website provides users with the ability to view a real-time aggregation of verified news sources; a screener that can be adjusted for various technical parameters; a heatmap that filters for the most impactful news; and a customizable social media post aggregator.

CryptoControl also comes in a downloadable platform: a terminal that is “now in early beta," Enamakel said. 

The terminal can be accessed on a trial basis, with license packages that allow users to customize what data points they have access to. Prices range from a basic license for $23 per month to $460 for professionals.

Testing revealed some software glitches; Enamakel said subsequent versions will fix the complications and introduce features that further the software’s seriousness.

What About The Competition?

Unlike competing platforms that lack customizability, CryptoControl enables users to curate their news feeds and trading tools. 

The CryptoControl software will integrate over 100 additional exchanges in its next iteration, allowing for user-adjustable stop loss and take profits, as well as a cleanup of bugs, Enamakel said. 

The subsequent version, which is to be released next month, will have more than 60 changes, all of which are intended to improve usability for serious traders and institutions.

"Other sites do a small amount of data and information," Enamakel said, adding that he's pushing boundaries and standards in the cryptocurrency space with additions like “real-time news trend detection engines.”

Takeaways On Cryptos 

"The most interesting thing that is happening right now is that the space is maturing," the CryptoControl founder said. 

“Just like you had the 2001 dot-com burst, [where] kids in their bedrooms were creating their own IPOs,” a similar thing occurred last year with cryptocurrency ICOs, he said. 

“So, what’s happening now is that serious [players] like big banks, institutions and hedge funds are getting into the space,” further legitimizing the asset class, Enamakel said. 

"The space still needs to grow a little bit more before the volatility gives out." 

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