Coinigy Interview: A ‘trading and wealth management platform’

The last few weeks, I’ve been playing around with the Coinigy closed beta. It’s a very pretty platform, that allows you to view charts, orderbooks, balances across multiple exchanges. You’ll even be able to trade directly from within the Coinigy website. I can see it being a very valuable tool for those who trade multiple coins, on various different exchanges.

It does so much, I wasn’t sure what you’d call it. Luckily, I had the chance to speak with William and Rob, the guys behind the site, and they cleared that up for me — plus a whole lot more.

Coinigy does a lot of stuff, how would you describe it in a few sentences?

Coinigy is an exchange-neutral, full-service trading and wealth management platform for cryptocurrencies. On Coinigy, no market is left behind as we’re currently listing over 800 markets on 12 exchanges, and aggregating over 3.5 million trades per week. The services available are consistent across all exchanges we support and include analytical charting, order management, balance tracking, price alerts and news feeds. Coinigy also offers a customizable market ticker, email notifications for trade, balance and price alerts and custom price indicators.

What triggered the idea for a site that does all of this?

The Coinigy platform started life as an internal application designed to fill a void that we desperately needed filled. In our own mining and trading, we found it very difficult to track orders on different exchanges and to get an idea of how we were performing as traders. We also found it cumbersome to deal with different user interfaces and charting applications on several different sites to get a good look at the overall “crypto ecosystem”. As we began to see the full potential of Coinigy, we decided to put our personal trading on hold in order to build out this platform to a level where it could be offered as a service to other traders.

What do you hope it will achieve in the future?

Coinigy has many plans for the future. We want to continue to innovate new ideas on our platform to enable traders and investors to better manage their activities. One of these ideas includes our own wallets to enable users to make real-time arbitrage trades. We would couple this with automated indicators for good arbitrage or other trade opportunities. We want to create a sandbox where users can test trading strategies including back-testing on data from our archives. We are also going to add custom order types, trade legs and conditional orders to allow traders more freedom to let Coinigy do the work for them.

Have you had any feedback from the exchanges? What do they make of the platform?

We do have working relationships with several exchanges. When things settle down for us we’d love to reach out to more of them and see how we can develop better partnerships to make cryptocurrency trading and investing better for everyone. We have been in discussion with some lesser-known exchanges about becoming the sole web facing interface for their exchange but we can’t discuss too much about that just yet.

How is the closed beta coming along so far?

The beta has been going great so far. We’ve had a huge outpouring of support from the community with lots of eager users willing to test out our platform. As of 6/23 we’ve closed the beta access to new registrants so we can focus on development and getting our platform released to the public. Users can sign up for the waiting list at Coinigy.com.

Have you run into any big challenges?

Our biggest challenge has been remaining focused as Coinigy has become more popular. It has been overwhelming how positively Coinigy has been received and how quickly we surpassed our user goal. The primary reason we had to close the beta access to new users was so that we could be sure we deliver on our commitments to our users, both present and future.

What are some of your favourite features that are implemented so far?

I’d say one of our favorite features is the portfolio and account value history. When you attach API accounts to Coinigy, over time we will take daily balance snapshots for your history. This allows you to view the BTC value historically over time for one account or any combination of accounts. This is incredibly useful in gauging your trading performance and analyzing previous trading decisions. The exchange and currency distribution pie charts for your portfolio are pretty cool too.

What would you most like to implement before a full launch?

Our number one priority right now is to get the order placing and tracking part of the platform tested and released. Once we release our order management features, we’ll finally have our core features all completed and we can begin to really attack some of the little things that would make the site so much more useful and user friendly.

Anything you’d like to add?

Just want to note — The private beta registration is closed, but we are still accepting new signups for the waiting list at Coinigy.com. Just enter your e-mail address and you’ll be notified as soon as we enter the next stage.

We also want to make a point that we consider security our #1 priority here at Coinigy. We suggest enabling Two-factor authentication on your Coinigy account as well as on individual exchange accounts.

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