investFeed, a social investment network for digital currency traders and enthusiasts, has released the first version of its new platform; a combination of “Facebook, cryptocurrency and the Bloomberg Terminal,” according to CEO Ronald Chernesky.
The New York-based startup, which launched in 2014, said the social network aims to integrate cryptocurrencies into the traditional financial world and “create an access point that is open, transparent, and rewards-based for all our users and content contributors.”
The release of the new platform comes nearly a month after the company pivoted from US equities to digital currencies amid strong demand from its 15,000+ user base.
Chernesky said that the company’s “strong belief in the future of cryptocurrencies prompted our decision to pivot from equities to decentralized digital assets.”
“We feel that investFeed’s future should fully embrace the greatest technological breakthrough since the Internet. We decided to refocus our offering in order to take advantage of the vast opportunities in crypto, including the exponentially-growing number of people globally interested in trading, finding accurate ticker prices, and seeking out peer ideas.”
Andrew Freedman, CTO of investFeed, added that the switch from equities to cryptocurrencies will attract a millennial user base that has shown disinterest in traditional investments. “Millennials are more excited by this new technology because they feel empowered by the ability to participate in markets without traditional third party interference,” he said.
The new investFeed platform combines social network features, such as private messaging and comment posting, information sharing, and digital asset trading analytics and insights.
Through a data partnership with Bravenewcoin.com, the platform also showcases a list of 235 high-performing cryptocurrencies and their associated price tickers, channels, pairings and weighted averages in USD.
The company said it will soon add more features, including buy and sell functionalities, instant notifications on user-assigned price alerts, as well as alerts on moves made by peers and high performing traders.
“One of our goals was to give mainstream users a simple, aesthetically pleasing UX and remove the technical barriers and complicated language associated with blockchain and cryptocurrency,” said Chernesky.
“Just like we linked every top online stock trading brokerage to our original platform, we will begin to form relationships with digital asset exchanges so that users can link their accounts on investFeed and make informed decisions, using the most accurate market data possible.
“The end-goal is to become the one-stop shop for everything cryptocurrency, and unite a growing community in one of the most nascent industries of our generation.”