How CoinsHarbor was created
If there is no product on the market that meets your need, create it yourself. Something similar happened to Nick Papirniy and his analytic platform for crypto traders — CoinsHarbor. For about 7 years Nick has been programming and managing team-based software development. At the same time thanking to Forex he got interested in trading. Here Nick was able to successfully combine his programming skills and trading interest while developing trading robots for Forex.
When popularity of cryptocurrency was in boom in 2017, Nick became interested in blockchain technology industry. He started studying aspects of mining and development of architecture projects on blockchain. Then as a development consultant he joined the project of Allrise Financial Group on construction of a data center in Canada. At about the same time Nick decided to apply his trading experience and started trading on crypto market.
There were many difficulties that complicated an effective decision making and seeing the complete picture. The cryptocurrency market compared to the classic stock market is much more dynamic and more difficult to keep abreast of. For example, it is difficult to immediately understand what was the average purchase price of a coin, and it was unclear whether the coin was earning or losing. A lot of time was spent on updating and analyzing transaction records in order to remember one’s own trading strategy.
“I spent on average 6 hours a week working with my own records, trying to analyze whether I was moving the right way, where I made mistakes. From one exchange to another the price of the same coin could be different, and all these numbers had to be regularly transferred to my Excel spreadsheet, which was extremely tiring. In addition, any error in the formulas of the table or in the process of filling in led to significant errors and eventually losses.”
Existing at that time relevant services did not help much either. Most of them were too simple and did not have the function of analyzing transactions and strategies or were too complicated, for example, CoinTracking with its confusing interface. Convenient systems with a user-friendly interface and sufficient functionality simply did not exist.
“After conducting a survey among the traders at that time I realized that I was not the only one who faced such problem. In the end I decided to create my own platform considering all the advantages and disadvantages of existing products. Opinions of the traders proved my confidence that a service like CoinsHarbor would be really useful. ”
First of all, a system for in-depth analysis of the user’s trading process was developed. The main task was to give the trader an exhaustive conclusion on his transactions so that the result was visible at a glance. The points of buying and selling coins are displayed on the TradingView charts, and the profit or loss percentage is calculated next to each transaction in the trader’s diary. The movement of the total value of the user’s portfolio is conveniently displayed on the graph in the appropriate section in percentage and currency terms.
After that it was decided to join the trending topic of trading signals. The signal aggregator from a variety of different suppliers was launched on the platform, and a visual display of their effectiveness was added to each right on the graph.
But the project does not stop here, the automatic trading system is currently in active development. The very same trading robots that Nick dealt with on Forex will soon be helping CoinsHarbor users to trade more effectively. Then the function of setting up bots for automatic and signal driven trading, coming into the aggregator will be implemented. Also the project will soon open the opportunity for any user to backtest past signals and see their real time effectiveness.
Also Coinsharbor team has much skin in the game. Everyone in development team is actively engaged in trading. Therefore, they can understand based on their own experience how relevant are the tools and functions they add to their platform.
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