Crypto Exchange: TabTrader Raises $5.8M For a Data Mobile App. As several of the leading cryptocurrencies appear to be momentarily stabilizing. Near all-time highs, users wishing to bet on tokens that are a little more volatile. Are exploring across exchanges to locate discounts on a variety of cryptocurrencies.
With a platform that combines pricing and token availability across dozens of exchanges. The Amsterdam-based business TabTrader has been capitalizing on this hunt since its inception. While other platforms allow users to compare token values across exchanges. Also the majority of them are designed for desktop usage. Whereas TabTrader has established a significant presence for its mobile app for iOS and Android devices.
With varying approaches to onboarding new tokens taken by different exchanges. Crypto traders are increasingly signing up for accounts on multiple exchanges and watching prices. Across multiple apps, each with a distinct notification type configured for it. Many customers rely on TabTrader’s cross-exchange price alert tool. Which notifies them when a particular token’s price has risen or fallen above or below a predetermined threshold. While a large number of exchanges provide similar feature within their native apps. Both dependability and customizability of these push alerts. Have frequently been insufficiently reliable and customizable.
According to CEO Kirill Suslov, the TabTrader app has more than 400,000 active users worldwide. With a particularly significant presence in Europe and Asia, according to TechCrunch.
To achieve this, the startup has adopted a similar business strategy to Kayak. Aggregating token prices and collecting rebate fees from exchanges when customers. Make a purchase through the app. According to Suslov, while customers enter their wallet information into the app. In order to conveniently make transactions through connected exchanges. TabTrader never has access to the funds in their wallets.
TabTrader also earns money from a $12 monthly membership for a paid version
In addition to the rebates indicated above, TabTrader also makes money through advertising. And a $12 monthly subscription for a paid edition of the software. Suslov asserts that his team of 20 employees has scaled to attain their current readership. Without the use of commercial marketing campaigns.
The adoption of so-called decentralized exchanges such as Uniswap, which allow users. To quickly exchange tokens with other users, according to Suslov. May be TabTrader’s most significant opportunity in contrast to the popularity. Of centralized exchanges such as Coinbase and Binance. Which have each attracted tens of millions of users each.
It is something that Crypto Exchange and Suslov believes is a significant opportunity that, while the exchanges. Have invested in cutting-edge technology on their back ends. There is still room for an aggregator like TabTrader to streamline the user experience. While also encouraging users to experiment with decentralized exchanges. According to the company, they will begin with a number of Solana-based exchanges. Such as Serum, Raydium, and Orca, as a starting point for their operations.
In 2020, according to Suslov, decentralized exchanges will be the most talked-about issue here on internet. In order to board this rocket ship, we needed to raise money.
Suslov stated in an interview with TechCrunch that TabTrader has raised $5.8 million in Series A funding. From a group of investors that includes 100X Ventures, Hashkey Capital, SGH Capital, SOSV, and Artesian Venture Partners.