Recap of Intro Session with Andrey Diyakonov, Choise.com CCO | July 20, 2022

Jul 22, 2022
16:07
2 min de lectura

Equipo de Choise.com

Speaker: Andrey Diyakonov is a Chief Commercial Officer at Crypterium and Choise.com, also spearheading Crypterium’s unique B2B program.

A seasoned business development executive with a proven track record in the industry, Andrey is leveraging his experience and a set of soft and hard skills to set up and lead “A-Team players” across multiple businesses. An avid crypto adopter, Prior to joining the industry, Andrey has ran and staffed political campaigns in the EU, and represented 2 countries in the United Nations program UNAOC.

It truly is amazing, how crypto gathers people from so many different spheres of life and business.

What is the idea behind the price insurance? What is its purpose?

“As you know, we’re adamant in our commitment to empower you to earn more on your crypto. We’ve redesigned our product set and approach to reflect that commitment.

There’s your yield – that covers your ability to earn more in future.

But what if you don’t want to make any lossed? In other terms, you want a sure shot at the upside.

We’ve got your back – and we’ve devised a product just for that. Price Insurance is an option to fix guaranteed minimum price when buying BTC or ETH.

With Choise.com Price Insurance you’ve got a way to ensure no losses and guarantee yourself an #upside by ensuring the amount of crypto you want to buy for a certain period of time. If the price of a given crypto appears to be less than the insurance price at expiry, Choise.com will cover the losses.

No losses = you earning_more”

How does this insurance work?

“Let’s consider a typical scenario, shall we?

You want to buy 0.1 $BTC at a $18,000 per coin and while at it, you want to make sure that no matter how deep BTC price might move in negative direction (potentially making a loss to you) within the next 30 days, you will lose 0 due to BTC price action. Solid thinking. You want an upside.

You pay $1,800 for 0.1 BTC and a certain amount for your insurance premium (our in-house algo will calculate that price dynamically taking into account a whole bunch of factors) plus the usual tx fees.

Remember, the premium you’ll have to pay is highly dynamic and depends on the market situation. The exact amount is calculated automatically for each transaction. For more info check out: https://choise.com/price-insurance

If in 30 days time BTC is traded under $18000, say $16,000, you will be covered by our upside guarantee – we will pay out a difference in USD, so your wallet will be credited with $200. Isn’t it amazing?”

What currencies does this work with?

“We’ll start with $BTC and $ETH . Of course we are working on extending that list – we will keep you posted.”

What is the entry level for these 2 new deposits?

“It’s really friendly.
For retail users, it’s just 100 USDT/C for stablecoins.
For your favorite MetaFi token, it’s 100 CHO.”

Is the insurance price always the same? How is it paid out?

“Now, that premium you to pay for guaranteed upside is highly dynamic and depends on the market situation. The exact amount is calculated automatically for each transaction.

Our algorithms are taking into account a whole set of factors, including market-wide and asset-specific factors.

Now let’s go back to the example I gave earlier: you bought 0.1 BTC at the price of $18k, so you paid $1,800.

If in 30 days time BTC is traded under $18000, say $16,000, you will be covered by our upside guarantee – we will pay out a difference in USD, so your wallet will be credited with $200.

It’s important to note that the price of the purchased asset (BTC in our example) will be sampled at the expiry date (so at the date stipulated at your purchase) at 8AM UTC – so that our global users will know that for some of them it might be way later or earlier in the day, including on the previous day for those of in Western hemisphere.

In the meantime, you’re free to dispose of your BTC in whichever way you choose. Trade it, stake at our yield products or send it to your friends – all using our Choise.com app and website.”

Is it live now? And on which platform is it / will it be?

“It’s live for our brave beta testers – and they are almost done with it.

We are getting ready to expand that offering to all of our users.

Stay tuned!”

Do you have any guide on how to use it now? Any video you can share?

“You bet!

We want to make sure you are well prepped in this coming product of ours.

Check out https://www.youtube.com/watch?v=GU-4y1ZLgiE&t=1s”

Do I need to have a cryptocurrency in my wallet at the expiry date for insurance to work?

“Remember, we are all about giving you a choice to earn_more_way_more ?!

Restricting your freedom to use those assets will be wrong.

After the purchase, you’re free to dispose of your BTC or ETH in whichever way you choose. Trade it, stake at our yield products or send it to your friends – all using our Choise.com app and website.”

You mentioned that you will expand this to more currencies. Any ideas which ones it could be?

“We are certainly focused on expanding the promise of this product to our own and favorite tokens, CHO and CRPT . We want to make sure our users are well-taken care of.

And of course, we are closely monitoring the market situation, so we will be adding popular and high-liquidity tokens. SOL is certainly one of the first ones that pop up in my mind.

But please be sure you send us your suggestions. What assets do you think should be added?”

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