With the growing interest in cryptocurrency and the blockchain ecosystem, we’re also seeing some new ideas being tried out. One such project that caught our eyes is Cryptonovae, a one-stop trading platform. We did a detailed Cryptonovae overview and were quite impressed by how well-thought-out it is. So, it was our pleasure to interact with Susanne Krone, CMO Cryptonovae and talk about their roadmap and more.
TK: Cryptonovae is an ambitious project that has many moving parts (integration with multiple exchanges, advanced charting UX, support for thousands of coins, and more), what gave you the idea behind the same?
Susanne: Our team comes from a background in crypto and traditional finance. And we unified over the lack of sophisticated trading possibilities in the cryptocurrency space. Questions remain unanswered as to how to trade with the standards of today’s state-of-the-art traditional market software in crypto led to us bringing it all in our product.
We were tired of having to figure out how to trade on various exchanges and still not having all the tools at hand we consider essential for efficient trading and advanced risk management. Hence, we developed a software with modular features that did not only allow us to boost our trading game, but also its modular nature allowed us to customize our charting experience to our needs.
TK: On one hand, it’s said that crypto is for the future and shouldn’t just be for trading / thinking about profits and losses, but on the other, projects like Cryptonovae are specifically for trading. What’s your position on this?
Susanne: The two go naturally hand in hand, I’d say. While the idea behind blockchain is in many ways so disruptive and revolutionary globally, cryptocurrency trading is equally disruptive. It not only allows for basically everyone to manage their financial assets themselves without middlemen, but also gives opportunities to invest in early-stage ventures, which in the traditional sector are mostly reserved for major venture funds, meaning average people have no access to it.
For me personally, cryptocurrency trading is an empowerment for people, it promises the return on investment at best times. In addition to that, it can bring about major changes in communities around the world that until now did not have access to the same financial opportunities people in many first world countries have.
TK: Cryptonovae will support 6,000+ tokens. What would you do in case the token turns out to be a sham or gets hacked?
Susanne: We need to distinguish two things first. While trading on the platform will give you access to as many tokens as possible being listed on the major exchanges we are connected to, we have no direct influence on the security of these tokens, as the exchanges themselves decide to list them. Here, as always, the rule applies, do your own research!
When it comes to our very own utility token $YAE, we not only have one of the best and most experienced blockchain dev team on the market, but we also went through all necessary security procedures such as token audit and making the process of listing on initial exchanges after launch as safe as possible from our side. You can check out our articles on our Medium blog that dive into the matter of the token but also community security. Crypto is great, but it has its downsides in the form of scammers and impostors. So, I would like to take the chance again here to point out, that in order to stay safe, read up on our safety guidelines!
TK: What are the security mechanisms implemented in Cryptonovae?
Susanne: We take security seriously and had our token audited through CertiK, the leading security audit firm in the cryptocurrency space. Our smart contract passed their audit without any major or minor concerns and the report is available for the public.
In terms of our software, we also go the extra mile in terms of audits. One aspect that is important for us, is the way we handle the APIs generated from the exchanges. If you want to use Cryptonovae, you will have to generate an API for the exchanges you want to connect to us. We made sure that the security can be handled 100% by the user himself, meaning that we don’t store your secret key phrase on our servers, but you will save them on your device and of course all information that will be exchanged between the software and the exchanges will be encrypted according to highest standards. Also, Cryptonovae will only need an API that has no permission for any withdrawals, meaning, we don’t touch your funds, never!
TK: With so many tokens around, what makes $YAE stand out apart from being a utility token for using Cryptonovae?
Susanne: The main focus of traders all over the world is profitability. They’re looking for any edge that will enable them to beat the market and that’s the role of the tool we built. Now the token itself is playing a major role in that regard because traders need the best equipment, and equipment comes with a cost. When using the token for your subscription, you’re eligible for a huge discount.
On top of it, locking the token for your subscription makes you eligible for the TAP program which consists in redistributing YAE to our affiliated traders. In short, the more volume you throw in, the more kickback you get. And that’s only one example, there are so many exciting things coming up!
TK: Cryptonovae is one project worth watching out for. As Susanne rightly points out, crypto trading might seem all about profits and losses at the surface level, but it can also empower millions of people who don’t have access to regular financial opportunities. The project goes on public sale on Duckstarter from April 9th, so if you’re whitelisted on the platform, you can get the $YAE tokens at $0.08 apiece.