By @SimonCocking interesting interview with Dmitrij Pruglo, Covesting Founder and CEO.

How did you get started?

I entered the Forex and equity trading market more than 15 years ago. I was a newcomer but the idea of capitalising from the financial market attracted me. Moreover, with a good internet connection, one can trade from anywhere in the world so basically, one is not tied to a geographic location. I studied a lot and read all the recommended books on financial markets. I learnt technical analysis of financial markets, stocks, positions and so on. I, in fact, used a small amount to trade as well. More than profit making, I wanted to get accustomed to trading.

When I was 21, I started with my internship with SEB Bank Lithuania. At the same time, I also cleared the Securities Commission exam to become a licensed and certified financial advisor. Although I was the youngest in the team, I handled some key customers there. I switched to Saxo Bank because I wanted to get into hardcore trading institutions. I joined the Copenhagen branch of Saxo Bank. It is a pioneer in online trading and it was a proper FinTech company even before that term became popular. For several years, I continued with the bank, in different capacities, starting as Associate in Sales and moving all the way up to  Senior Account Executive for VIP clients. I dealt in options, CFD, Futures, FX, equity and Bond trades through multi-asset platform.

Later I worked in the Cyprus office of Saxo Bank where I continued as a trader. I loved working for Saxo Bank but I decided to launch my own ventures.

Does it seem like a logical background to what you do now?

Absolutely, trading cryptocurrencies is not much different from trading FX or equities. In fact, I believe, crypto currency trading is a hybrid of Forex and equity trading. Let me explain this.

In Forex, we are trading other currencies against  In crypto trading, we are also trading different coins against more stable coins like BTC or ETH and fiat like USD.

Multiple similarities can be found between equity or futures trading and crypto trading as well. And with Bitcoin Future already here, the similarities simply increased.
Many of the concepts, theories and tactics of normal trading work flawlessly for crypto currency trading so, yes, this was meant to be the next step for us.

1 min pitch for what you are doing now?

We are building a revolutionary platform for cryptocurrency traders and investors! It is the easiest and most perfect way to enter cryptocurrency trading for passive traders, new investors and common traders because, Covesting, my company, is bringing copy trading mechanism into crypto currency trading. People can make profit just by following pro traders and the same ratio of profit. It is all done automatically by the platform, making Covesting the easiest way to make money from crypto-trading.

We are also building the most complete cryptocurrency trade learning mechanism in place where not only pro traders will teach but will have literature, videos, case studies and many more to help the new traders.

That is interesting. Will it cost the users? Are you planning to offer some type of degrees/certificates?

Frankly, we are still discussing ideas. But, I can tell you with 99% assurance, it will be free and we might not offer any certification but our aim is to make every investor a better investor.  We are going to launch the beta version shortly and will use the community feedback to create our roadmap ahead.

I believe you already have an MVP?

Yes, it is a fully functional front-end of the original Covesting interface. We launched it on the date we committed and the response have been fantastic. It also makes us one of the rare ICOs who go to ICO with a fully public MVP.  

Tell us how it’s been going with the ICO campaign so far?

We have seen amazing response from the token buyers. We managed to raise 66% of our hard cap from token buyers in presale without any advertisement.  In the main ICO, we have raised a pretty good amount with many new people purchaseing COV tokens. We also have a very active community on Telegram with over 3000 members which is buzzing with activities.

We are receiving encouraging feedback from the token buyers and we are confident of making it to our goal well before the last day of our sale.

You are a keen advocate of low supply tokens – what tips would you give to others aiming to create a valued token?

Low token supply has multiple advantages. Show me a coin in the market which has a billion circulating tokens and yet is gaining value! We kept the token count low and in fact, we are planning to take it even lower.  Not only that, we will continuously buyback COV from market and burn the coins to make the remaining coins gain value. The detailed plans can be found in our whitepaper.

To create a valued token, one must

  • Keep the count low
  • Burn unsold coins
  • Buyback and Burn
  • Deliver true value
  • Offer unique proposition

I would believe COV tokens pass all those tests.

What are the most frequent questions people ask you about Covesting?

I receive multiple questions on a regular basis. For example, if the COV count is fixed, how can people receive profit because that will mean extra COV. It doesn’t work that way!

Then, people often ask us, who or what inspired us or who are our competitors? Frankly, I am sure we are the pioneer of copy trading for cryptocurrencies and I am not aware if there is another ICO which is even vaguely similar.

There are some other technical questions I receive, mostly via Telegram, but I have a very capable team taking care of that so I don’t always need to get personally involved.

One question which I love answering is, “How confident you are to be successful with Covesting?”110%.

If it all goes to plan, what will 2018 look like for Covesting?

It will be a really busy year. We have a lot of things to accomplish down the road. If you check our roadmap, we have multiple important milestones coming up. Our beta launch is in February, we also will be listed on multiple leading exchanges. We have multiple advanced technical integration planned for our platform and new strategies for user acquisition. Our stable platform is coming out in September 2018 hopefully when things will move too fast.

Anything else you’d like to add? / We should have asked?

I explained a lot of concepts, revealed a lot of plans and spoken about Covesting at length, explaining some key features and removing some common misconceptions, in this video interview. I think if you are interested in Covesting, you should watch

See more about Dmitrij Pruglo here :
CEO and Founder

covesting.io

 

Innovative Copy-Trading Platform built by Covesting offers asset management solution


If you would like to have your company featured in the Irish Tech News Business Showcase, get in contact with us at [email protected] or on Twitter: @SimonCocking

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