GoCharting is a new charting and analytical app which will be useful for predicting fate of cryptocurrencies. It specifically aims to target Indian traders. Crypto-News had a conversation with the founders regarding what exactly would the app would entail and what traders could look forward to.Ad
Q1. When is the launch supposed to take place?
Response: We officially went live with the beta version of our app last Friday (23-Feb-2018) and this is practically our first attempt to foray into the world of PR and marketing.
Q2. Could you explain in detail about your company and where are you based in India?
Response: Sure. The app was built from the ground up by me and my partner-in-crime working on weekends over the last two years. We are Delaware (U.S.) incorporated and are in the process of creating our Indian subsidiary. The company name is GoCharting LLC.
We are both Indians currently residing outside of India and introduced to each other through the open source community. We are extremely passionate about crypto currency and feel analytics/technology are enablers to better decision making in this new world of coins. The investment community, at large, is slowly opening up to this new asset class and yet there is a lot to be done in this space in terms of educating people in general about crypto currency and how they can derive value out of it. As you are aware, there is enough apprehension about this asset class from a number of governments etc. across the globe which is not helping the cause. Today the knowledge about crypto currency is limited to a handful of investors who are more tech savvy because of the inherent nature of this asset class.
(A screenshot of the trading between Bitcoin and US Dollars)
Few of the Many Possible Use Cases:
1. Today you will see enough arbitrage opportunities between these exchanges. Say a BTC/USD pair traded in Coinbase vs. the same in BitBay. These arbitrage opportunities can be tapped into once you are able to seamlessly access both the exchanges real-time in a single platform. Our multi-chart plotting abilities enable you to view multiple trade exchange pairs in the same window allowing you to tap into these opportunities. At some point in the future, the user should also be able to trade in these exchanges directly through our app. 2. Create awareness about this asset class and about trading in general trough world class trading tools which are generally a premium service and not accessible to the masses. We feel knowledge should not be limited to a few.Q3. How do you plan to monetize your app, in the absence of advertisements?Response: At this stage, we feel the user experience is what matters to us. We want to provide our users seamless access to the best-in-class tools and annoying ads do not help. As far as revenue is concerned, there will be certain advanced features that will be available through a subscription (Freemium Model) along with trading fees. We have certain long term strategic cost advantages which we are able to relay back to our customers and not necessarily go the advertisement route.
Q4. Do you have other flagship apps, apart from go-charting?
Response: No, this is our first production ready product.Q5. For a new investor, could you explain the difference between charts such as Renko, Kagi, Heikin Ashi, Point and Figure?Response: We plan to develop a series of resources (Blogs / Youtube Videos) to help educate the masses on the tools that they need to know to make a sound decision when trading. We started with a short video on basic charts such as Candlestick Charts. More to come on this (including sessions on Renko, Kagi etc.) in the near future.