In a recent interview with Learnbonds.com, StormGain chief executive Alex Althausen explained why users on the digital assets exchange are set to benefit from the upcoming passive income feature. He made the revelations while giving an insight into the exchange’s product roadmap.
Furthermore, Althausen commented on the exchange’s unique partnerships with leading global brands. At the same time, the executive shared his opinion on the upcoming Bitcoin halving and its impact on the mainstream adoption of cryptocurrencies. Additionally, he also explained why Facebook’s Libra will not be going live anytime soon.
StrormGain is known for launching new and exciting features for traders. What can you tell us about the product roadmap for the digital assets exchange? What upcoming features are you most excited about rolling out?
“First of all, we are happy to announce that our refer-a-friend program is almost ready. Our customers will soon be able to gain 15% of the lifetime paid commissions of the friends they invite.
Another ongoing feature is the ability to use all major cryptocurrencies for trading with a multiplier. Currently, customers who like to hedge risks using margin trading are only able to do it from a USDT wallet. However, BTC, ETH, LTC, XRP, and BCH will soon be available for margin trading too.
The automated interest rate for all customers as a part of a loyalty program. In a few weeks, our new customers will be able to get passive income “hodling” [holding] crypto on StormGain. The bigger the customer deposit – the bigger the percentage she/he gets. The maximum is 10-12% for deposits of a $10k equivalent.”
You recently partnered with Newcastle United as the sleeve sponsor. What informed your decision to partner with a football club and what are some of the in-use cases of blockchain are you seeing in the football and sports space in general?
“It’s all about trust. We’re a startup and we’ve been on the market for less than one year, but we’ve already landed a sponsorship with a legendary football club from the Premier League because we want to share a simple message with our customers – we’re here to stay!”
Since launching in 2019, StormGain has been successful. What makes the exchange stand out?
“We have a concept for a one-stop-shop for crypto users. It means that we try to make all kinds of crypto enthusiasts happy: for HODLers and exchangers, we have the best fees and commissions; for hedgers and traders, we have the best margin trading opportunities, e.g. highest 200x multiplier; for newbies, we have trading signals and free education available in online and live formats; for passive income seekers, we have an unbeatable interest rate (#1 according to CoinMarketCap). You can find other opportunities on the StormGain platform.”
What are some of the steps you’ve taken to ensure StormGain users are protected from losses either due to an exchange hack or potential security failures?
“Our trading platform is based on an isolated margin approach. It means that the customer fully controls the investment amount and doesn’t put all his/her money at risk. Another feature we implemented is the stop-loss order. Customers can set up the price or percentage of loss they want to handle. If the market goes the opposite way to what the customer wanted – the deal will be closed by set parameters. This means that customers are in full control of losses and will never be faced with a negative balance in their account.”
If Facebook’s Libra successfully launches, how will this impact the cryptocurrency space?
“It will definitely become a game-changer. This will change market capitalization and the crypto market will experience the biggest earthquake ever. However, Facebook, Telegram and other giants are facing strong resistance from governments right now. Nobody wants to lose control. To be honest, I don’t believe that Libra and TON will be going live soon. But personally, I stand together with Mark Zuckerberg and Pavel Durov and hope they can find a way to overcome this resistance.”
What role will the upcoming Bitcoin halving play in the possible mainstream adoption of cryptocurrencies?
“There is no direct correlation between these events. Halvings have taken place in the past and we saw that no mass adoption came after it, right? Another point is that governments and industries are already starting to work on their own blockchain-based money to replace cash. Blockchain brings them to control and transparency.”
Would you consider regulatory uncertainty as the biggest challenge cryptocurrency exchanges face in 2020?
“Definitely yes, regulation issues are currently the biggest challenge, as well as the biggest stopper for the crypto industry. Mass adoption will come right after common rules for cryptos are established and approved around the globe.”
How has StormGain positioned itself to adapt to emerging regulatory considerations?
“First of all, we’re going to think about our customers and protect their interests. As soon as the regulation is established and there are clear requirements, we will no doubt comply with it.”
Thank you, Alex, for the conversation!