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'We Will Eventually Get Into Stocks, Equities, Forex': SmartBotCoin Founder Talks Future Plans

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'We Will Eventually Get Into Stocks, Equities, Forex': SmartBotCoin Founder Talks Future Plans

Benzinga recently reported on the launch of SmartBotCoin, an advanced cryptocurrency trading platform intended to serve beginners and expert traders alike. Founder and CTO Aman Bedi discussed the project's status and growth prospects in an interview. 

Bedi is well-versed in communications, e-commerce and technology; he served in leadership roles at Sapient, Intuit and TAISTech.

In an effort to build an automated trading solution for his portfolio, Bedi assembled a team and began working on the project that eventually became SmartBotCoin.

He trades on the side. "I do a lot of trading of stocks, equities and crypto," Bedi told Benzinga. 

The Platform's Features 

Established in 2019, SmartBotCoin features manual and automated trading, back-testing, portfolio management, asset allocation, news and sentiment readings, multi-exchange support and social-based trading.

For automated trading, traders can set up and back-test different strategies. For traders who wish to autotrade but don’t have the expertise or patience to develop strategies, access to social trading is available.

“We also have a social leaderboard concept, social trading, like eToro, where leaders and followers [converge],” Bedi said. 

With social trading, users act on pre-established strategies. For example, any time a leader, or creator of a certain strategy, makes a trade, the user makes a trade. Simply put, they're a carbon copy. 

"They do all the hard work," Bedi said. 

Leaders are compensated for their strategies: SmartBotCoin said it enables leaders to receive monetary compensation, incentives and awards.

In order to reduce information asymmetry, the platform leverages artificial intelligence and machine learning to vet hundreds of news and data sources, forming actionable sentiment analysis of cryptocurrency-related developments, according to SmartBotCoin. 

Future Plans

“We will eventually get into stocks, equities and forex,” the platform's CTO said. 

SmartBotCoin aims to take advantage of its autoscaling and cloud-based infrastructure to support other assets, bolstering its vision to expand into institutional, B2B and white-label use, he said. 

SmartBotCoin allows access to Coinbase Pro and Binance and has plans to add KuCoin, Poloniex and Bittrex.

The company has been self-funded up to this point and is seeking venture capital, Bedi said. 

"We beta-launched last week. [From] last week to today, without much effort on marketing, we have over 200 users that have already subscribed to the platform," he said. 

Regulatory Questions 

SmartBotCoin does not handle digital assets; rather, it is a value-added service where user assets are "sitting on an exchange," the CTO said. 

Due to the fact that SmartBotCoin does not handle people’s money, the firm does not file with the SEC, he said.

Any and all digital asset activity is highly protected, according to SmartBotCoin: the platform encrypts user API keys using hardware security modules that are FIPS 140-2 Level 3 compliant.

This means that authorized traders have access to a tamper-resistant interface that complies with government-level security benchmark standards.

'We Are Rolling Heads Right Now'

SmartBotCoin is now in beta testing and is offering discounted rates.

Once testing is over, two monthly subscriptions levels will be available: standard and premium.

With the standard $30 subscription, users receive access to the trading terminal, back-testing and automation. For the $60 premium subscription, social trading features are included. 

Crypto is an open space right now, and SmartBotCoin should pair well with growing interest in social trading, Bedi said. 

"Nobody is doing what we are doing, and I think we are rolling heads right now.”

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Posted-In: Aman Bedi Auto Trading Binance BittrexCryptocurrency Fintech Markets Interview Best of Benzinga

 

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