Are my cryptocurrency pains worth solving?
Hey everyone,
I am following Indiehackers for long time (by the way, pity there is no newsletter any more) and I finally decided to get into it.
As a cryptocurrency investors I have gone through many pains myself (managing- and time- wise)
- lack of comprehensive tools to track prices AND holdings
- bitcoin crashing every altcoin
- keep track of when-to-sell while doing DPA (dollar-price averaging)
- having the chart AND the fundamentals on it
- whale alert (especially in low-colume markets)
- flip-ico-when-get-to-exchange (investing strategy)
- 3rd-party integrations (bots and so on)
And a bunch of other tools to
- save time
- make smart decisions based on real-market conditions
- keep your portfolio in order and have full control on where-and-what-you are losing / winning on
I have studied the tech, tools to make this easy and scalable.
But I was wondering, are my ideas REAL PAINS to solve?
If yes (and if not!): what pains do you suffest when buying/trading/holdin/managing crypto?
Thanks a lot for your input!
I love automation tools, so I might be in the target market for something like this.
Stupid question here, but is this really possible? These markets behave erratically.
I wanted to build this a while ago but started on a different side project instead. Would totally use this.
hey Mark.
Yes, the point is to provide a set of tools to make operations and management much smoother - with the implementation of some proven strategies (sell altcoins when BTC crashes as they crash more .. and then rebuy low, right?), understand the market patterns (especially understanding where the whales are buying and selling and based on that [number of orders etc.] you can also spot manipulation. Stuff like that ;)
Just curious, what did lead you to switch project back then?
Ah, got it.
I switched projects due to security concerns. The community pushes back when you want them to install third-party software because they don't know if it's doing anything malicious in the background. The path around this is to go entirely open source, but that means it's an uphill battle to make a profit.
Hi @mnlIT
I've been developing a couple of crypto portals for clients of mine recently. The worst issue I came across, from a developer perspective at least) was standardizing the coin symbols across exchanges in order to do some meaningful comparison. As you may know, exchanges have an awful tendency of using non-standard coin symbols, e.g. "XBT" for "BTC", or "DRK" for "DASH". That led me to build CryptoStandardizer as a side project to validate the need for such a tool.
In terms of trading, I imagine such an undertaking that you described would be an extremely challenging, time- and capital-intensive task, having seen some terminal-type applications already (Coinigy, terminal.global and CoinBase's latest product). However, that being said, I see such an offering would have potential if you manage to build a community around that and allow developers to build plugins (be it bots, indicators, whatever) and allow them to sell them on a marketplace tied to the terminal.
Thanks for your input!
Nice projects of yours. I didn't think of it but it makes a lot of sense in practice (especially when used together with ccxt - for example).
Yes, I know Coinigy and that's mainly the reason why I'm building my project. All I've seen them doing in the last 2 years is a mobile app and adding one exchange (I may be wrong of course).
As for the bot-marketplace part there are plenty of solutions out there, so that's not the priority but rather focusing on features which are not out there (a one-stop terminal for DExes, sell-altcoins-when-btc-crashes).
I didn't know https://terminal.global/ which indeed fits a bit the purpose, so I'll try to focus on the other tasks there. Thanks for sharing!
How do you approach marketing?
I've been sharing it on IH, HN and PH, and select subReddits, with limited success to be completely transparent. I attribute it to the fact that it's a very niche developer tool that needs to be targeted very narrowly in order to have the expected engagement, as opposed to the wide-net launch platforms. Next on the list is a bit of content marketing, as well as direct contacting web developers with crypto-related projects.