Hello crypto enthusiasts
Market making and manipulation is a big part of crypto and in the wrong hands it can be devastating to a lot of new investors/traders but to the majority of us and definitely the majority of my readers it can actually be quiet profitable (I don’t mean pumps, please don’t ever do pumps!).
So today I wanted to bring to your attention a company called Gotbit which was founded by Alexey Andryunin who works with one other business partner and they focus on a range of services the main one of which is the liquidity of your crypto coin.
Liquidity (FYI): One way of defining liquidity is the ability of an asset to be converted into cash readily on demand. Another way of looking at it is when any asset can be bought or sold at its fair price. Liquidity is important for any tradable asset, which includes crypto-currencies.
This is their market making concept:
• Trading Volume regulation with daily setting
• Order Book filling with a yield
• Creation of artificial liquidity with price movement parameter
• The functionality to control the market with the following parameters:
price, volume, speed of growth, to interact with marketing strategy
Now I like to go the extra mile so I managed to get in touch with Alexey and luckily enough I can speak Russian (his main language) so here is my quick breakdown of skype call:
Q1 – What do you do
We provide a full package to our clients which includes price, liquidity, market cap. We can basically “stimulate” your coin while working with exchanges such as YoBit & HitBTC. After which we focus on marketing and the employment of our AI which is self learning.
Q2- How did it all start?
The ICO boom in 2017 is what really gave us that push and provided us with a lot of clientele, even though we’ve been facing the crypto winter since then we still have a number of loyal customers working with us.
Q3 – Is this legal?
Everyone does it, it’s just how the market is, there are no laws against this so we do what we can to help our clients grow.
We also discussed his background and how things work but the above is the main questions and answers I think are worth sharing.
Some technical points from their services:
- Access to accounts with no possibility to withdraw funds
- Robots made in GOlang using AI
- Interface through the website with no possibility of access by third parties
- Ddos safe from Cloudflare
Their bot at work
- 10000$ – 3 trading robots + online support for 30 days
- Long term Cooperation: 9000$/month
- Payment is accepted in BTC/ETH at the exchange rate at the time
Explained in short:
- They use bots to trade between each other on exchanges thus creating more volume
- Then they use marketing to promote this volume thus creating a real demand for the coin/token
- Applications are made for CMC listing after which the volume is turned off
Also they help with exchange listing, a bit of advisory work, telegram group management etc.
My take on this:
The crypto market is a dangerous place and if you do not know what you are doing then it’s better your educate yourself first. (1ON1 CRYPTO MASTERCLASS) Self marketing, cough cough.
But aside from the shameful way I just tried to sell my masterclass, the point I want to make is that this happens in all markets and industries. Don’t get me started on the Forex markets especially in the early days. It’s is up-to us to do our due diligence on each company we invest in and I would even go as far as to say on each coin/token we trade!
The services are relatively cheap for what you are getting, basically entry onto the market, something which usually takes hundreds of thousands and many years to achieve, especially in this market.
If you want to use their services I will be happy to organise an consultation and assist with any language barriers. Please just contact me directly by clicking the email icon at the bottom right of my website or on my personal FB group: https://www.facebook.com/CryptoBeastOfficial