InvestorBrandNetwork Announces CryptoCurrencyWire Audio Production Featuring Andy Flury, Founder and CEO of AlgoTrader

InvestorBrandNetwork, a multifaceted communications organization engaged in connecting public companies to the investment community, is pleased to announce the release of the latest CryptoCurrencyWire Audio Production as part of its sustained effort to provide specialized content distribution via widespread syndication channels.

CryptoCurrencyWire’s latest audio production features Andy Flury, founder and CEO of AlgoTrader.

Flury is a former Swiss Air Force pilot. He led projects at the Swiss intelligence Agency and various major banks. In 2010, Flury became partner and Head of Algorithmic Trading at Linard Capital AG, a Switzerland-based quantitative hedge fund. In 2014, Andy started AlgoTrader, a comprehensive algorithmic trading platform that enables buy side and sell side trading firms to rapidly develop, simulate, backtest and deploy automated quantitative trading strategies. Initially designed for global equities, futures, forex and options, AlgoTrader has fully supported automated trading of cryptocurrencies since 2017.

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Flury began the podcast by identifying challenges for traders who use exchanges to trade cryptocurrencies.

“When you come from a traditional trading background, one of the big differences is that you have to deposit your assets at the crypto exchange before you can trade,” he said. “That’s not the case in the traditional trading space. There, you typically work with a broker. You have your assets with the broker, and you can trade many exchanges around the globe with one account. But in the crypto space you have to manage and move your assets between the exchanges you trade. For retail traders, it’s still a cumbersome process. It’s time-consuming to trade cryptos.”

Flury then told the audience what they should know about trading crypto derivatives.

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“What you need to understand about trading crypto derivatives is that those are leveraged products, which means that you can actually lose your money much quicker than with any spot crypto trade,” he continued. “The other aspect I think is really important, is that if you open a crypto futures position on one exchange, your position is locked into that exchange. You cannot take it out, so there is a big counterparty risk. You’re trusting the exchange, because, as long as you have an open position, you’re bound to the exchange where you opened that position.”

Flury finished the podcast by discussing the role of traditional banks regarding digital assets, including cryptocurrencies.

“In Europe, digital assets have gained a lot of popularity among banks. In Switzerland, we have the first two pure crypto banks. Quite a few other banks have launched some type of crypto-related offering. I think this makes a lot of sense. Banks for hundreds of years have always provided safekeeping for clients’ assets. A lot of young people already own cryptos on some exchange or stored on a USB stick, and that’s not safe. There have been so many hacks of exchanges. I think it’s natural for banks to offer safekeeping of those assets for people who already own them.”

Watch InvestorBrandNetwork’s Jonathan Keim and AlgoTrader founder and CEO Andy Flury as they discuss alternatives to using crypto trading exchanges, the difficulties in accessing relevant information about less popular crypto tokens and the growing interest in cryptos from large banks, hedge funds and other traditional financial institutions.

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