The whole world is of the opinion that crypto consumers are “flaky” at best. Far be it from the truth!
The cryptocurrency space may have its share of those who think the space is heading for a downfall. However, that resilience, the gravitas to stay within the confines of reality and hold on until things get better is far more than the mainstream knows.
We reached out to Igor Sheremet, CEO of Qure Finance, and Olga Kazmina, Head of Growth of Qure Finance for insights regarding this.
Here’s what they had to say.
Igor Sheremet, CEO at Qure Finance
E-Crypto News:
In a year when crypto crashes have been frequent, what are the best ways for investors to stay on top of their game?
I think the best way to be on top during a turbulent market is not to panic. To be mindful with decisions and talk to other investors- analyze. In Qure we see how the power of communication and transparency helps people to make better investment decisions.
E-Crypto News:
How have the clients of Qure.finance weathered the FTX collapse?
I think an event like the one with FTX shocks everyone in the world, but our community recovered pretty fast. The main thing to keep in mind is that the collapse was due to a wider issue with corruption and not something inherently wrong with crypto. Qure seeks to democratize investing and expose scams like FTX which end up hurting the overall confidence in the crypto market- we aim to avoid that, heck, our main slogan is to avoid scammers!
E-Crypto News:
How exposed was Qure finance to FTX and its affiliated companies?
Qure did not have exposure.
E-Crypto News:
What steps need to be taken by the crypto community to prevent such events in the future?
As I said before, it’s a structural issue with top-down corruption. The crypto community needs to be discerning and not jump on trends for the sake of it but to really vet companies and do their research. The crypto community could benefit from being a little more cut-throat and give currencies the boot for not having ethics and disrespecting the community so brazenly.
E-Crypto News:
What makes Qure Finance unique?
Qure Finance is unique because it is the one platform investment platform for the next generation and designed for financial influencers and their followers. We validate all users based on the performance of their portfolios. Next-gen investors are following top-rated financial influencers, learning from their trading strategies and copying their trades. Or building their own independent portfolios and becoming top-rated investors themselves.
E-Crypto News:
How has Qure Finance performed in the past year despite the current market malaise?
More users are flocking to the platform, we got approval from the SEC and now have a RIA license, and the Finfluencer community on Qure is soaring. Exponential growth is imminent for us and our team and myself can feel it- very exciting times.
E-Crypto News:
Is there any way out for investors who have lost funds in failed institutions?
The only thing you can do is try to not lose your emotional sanity and pick yourself up with a better eye for what a sinking ship looks like.
E-Crypto News:
What role can insurance products play in preventing the total loss of funds?
They play an important role as capital protectors and educators regarding the risks. The most common reason why the funds are lost is because people underestimate their risks. And insurers are the ambassadors of intelligent risk taking. Also during the times of the financial crisis insurance companies help to maintain the economy with a positive contribution to GDP.
E-Crypto News:
What do you think are the root causes of the institutional failures?
There is not one root cause. They can be caused by law and policy failures like the ones we’ve seen with the Federal Reserve, market failures being an externality or organizational failures by lack of transparency and incompetency which leads to the erosion of trust and the breakdown in cooperation.
Olga Kazmina, Head of Growth at Qure Finance
E-Crypto News:
Do you think we are in for a long crypto winter?
I think we are in a recession and crypto is also affected by it. I heard some people expect markets to “defrost” a bit closer to the end of Q1 and the beginning of Q2. We’ll see, there are way too many factors and making any forecasts is harder than ever.
(Olga)
I believe the next bull cycle won’t start until crypto space gets more scrutinized with more policies in more countries coming into play. With each cycle crypto becomes more institutionalized and every bubble (no matter what is it driven by underneath, nfts, token generation events, farming etc.) reveals problems that must be addressed from a regulatory point. I am not a big fan of the idea of getting crypto governed by authorities, not at all. But when the big players are getting interested in it, it’s inevitable, they change the rules of the game with their power, capital and influence.
E-Crypto News:
What silver lining can occur to bring the cryptospace out of the doldrums?
(Olga)
With each cycle we’re observing the same stages of the crypto community that starts with euphoric belief on the rising chart until the current cycle collapses and the majority of the new enthusiasts are forced out of the market.
The business activity surrounding the crypto space, crypto events, meetups, pitches etc. collapses. And behind the curtains of the hype the new instruments are built to drive the web3 user cases and developers frameworks. And then the money that is invested in these new instruments as well as hedge funds and investors’ money are turning back to crypto – this is probably the moment to spot the silver lining but not before.
E-Crypto News:
Will a minor reprieve in the markets occur before the new year? What are your thoughts on this?
Human history proved many times that we love to believe in miracles, let’s see if we going to get a Christmas one this year =)
(Olga)
Historically markets get optimistic before Christmas but we are still on the downtrend.
E-Crypto News:
When do you think the current sideways markets will end and a bull run returns to the markets?
(Olga)
When people start to believe in economic growth again and turn away from the negative expectations of the world economy. Also might be when the printer goes brrr… again.
E-Crypto News:
What role do you think regulators can play in ensuring a safe space for investors?
I think it would be great if regulators will have more meetings and conversations with the founders of new fintech companies. To work together for the sake of development of the system and to bring more comfort and transparency to regular people.
E-Crypto News:
How does Qure Finance help millennials and Gen Z to evolve optimal trading strategies?
(Olga)
Definitely Qure.Finance gives a big picture on how others trade with a wide range of trading strategies from different users available on the platform. A young trader might follow numerous accounts and learn from their mistakes without throwing his/ her own money in the deals in the beginning. We encourage co-education. The app has a lot of ways to share knowledge – private channels, chats, tweet posts, short videos etc. By watching our community growing we definitely see that communication and peer advice is the main driver to start and progress in trading for the younger generation.
E-Crypto News:
Where do you think the strongest points lie for crypto traders who want to win most times?
(Olga)
Honestly, the best strategy is hodling and putting to one’s pocket only the tokens with solid protocols, tech and community behind. But there is a systemic risk in this industry like Luna or FTX collapse. The best traders are those who heavily invest in puts and calls to hedge their positions.
E-Crypto News:
Where do you think the cryptocurrency markets are going?
(Olga)
We will see the new local bottoms. Arthur Hayes has bought Bitcoin put options with a strike of $15k and expiration in March 2023. I am pretty aligned with him on this one.
E-Crypto News:
What do you think are the drivers of price action?
(Olga)
A lot of factors which are studied by the top financial minds in Goldman Sachs and JP Morgan, but in my humble opinion crypto market is following closely the S&P500. It is very correlated. There are inherent crypto drivers like the capital flows of the big players. There are pretty curious conversations happening in the space regarding the flow of the “whales” capital and how it influences the price. People are trying to follow their trades closely using smart money watcher dashboard to see the correlations and to predict the future moves.
E-Crypto News:
How can the cryptocurrency markets become more decentralized?
(Olga)
They are decentralized by the design and so far it was its major threat to the regulators worldwide as it cannot be shut down or controlled. This is why they are regulating and keeping under control the crypto gatekeepers like exchanges, wallets etc. I believe we will see smth like what have happened with the internet – it is free, decentralized and does not belong to the single corp, but we have access to it and operate with the help of the gatekeepers. I believe crypto will create more fair models of internet businesses but the history tends to repeat itself.
E-Crypto News:What are your offerings for the end of the year for new traders on your platform?
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