This is an interview with Edwin, who’s the founder of Altpocket, a cryptocurrency product that allows you to engage with a community and track your bitcoin portfolio.
1. Hey Edwin, Thanks for doing this Q&A! Can you tell us about yourself and what you’re working on?
My name is Edwin, I’m 21 years old and I am also the Founder and Developer of Altpocket.io.
Developing has always been my hobby since I was like 10 years old, I have developed in many languages and tried different types of development but developing Web Applications is what has really caught my eye.
In the past I have developed and managed multiple different sites and applications but Altpocket is for sure my ”breakthrough”.
2. How did you get into the crypto space?
I have known about the crypto space for many years but I really got into it in early 2017.
As I mentioned earlier I have been developing different types of web applications and I offered my services on a forum where I got to help a website with doing some fixes and improvements.
Once completed I recieved about $400 in Bitcoins and I was about to cash them out, but I thought to myself if I really should cash them out and use them for fastfood or if I should try and learn how to invest into different cryptos.
So I signed up on Bittrex & Poloniex, deposited $200 to both of the exchanges and bought my first ”Altcoins”.
After this I was hooked, I really loved the community around it and the excitement when you login to your exchange to see how the price has either gone up or down.
3. What’s the story and goal behind Altpocket?
As I mentioned in the previous question, I kind of stumbled upon cryptocurrencies, if it wasn’t for the BTC payment I recieved I would have never purchased different Altcoins.
So when I first started investing I was using Bittrex and Poloniex as my main exchanges, however I found the exchanges very limited as I couldn’t really see my profits/losses and it really bothered me.
Especially since I was using two exchanges, I would have to login to both of them and get a calculator to really see how well my individual transactions or orders did.
So I started looking for portfolios where I could track my investments better than on the exchanges.
The portfolios I tried wasn’t really living up to my expectations in a UI and UX experience, they were buggy, limited and not really user friendly at all.
At the same time as this was all going on, me and my Co-Founder on Altpocket (Jonathan Svensson) was running a E-Learning platform, we had been developing it for about 7 Months, launched it and the launch went really bad so we had just decided to close it down and go on with our lives, we were also located at a local Incubator which told us that we would have to leave as we were taking someone elses spot and wasting time.
So what I did was that I started building what today is Altpocket, since our E-Learning platform was about to be closed I had time over to do other stuff.
Altpocket in the beginning was mainly a fun project for myself that I would work on just to use myself, I had no plan on releasing it to letting other people try it, I maybe developed it for about a week until multiple people told me that I should make it public on a few forums and so I did.
Once I posted it, people loved it and the amount of registrations exceeded my expectations, in 3 days, Altpocket got the amount of users our previous E-Learning platform got in 7 months.
As this was going on, our Incubator gave us a very kind offer to let us stay with the new idea and we are still here today.
Altpockets main goal back then was to give users who use multiple exchanges one platform where they can track it all with a beautiful UI and very user friendly system.
Today we still strive for that aswell but also giving users a social experience where they can discuss different cryptos and have crypto related discussions, follow users and their portfolios and share their portfolios with the community, friends and family.
4. What’s one of the biggest obstacle that you came across when building Altpocket?
The biggest obstacle for sure is scalability, as I mentioned earlier I had built numerous different web applications but nothing at this scale.
I never expected Altpocket to get as big as it is today so I really had to sit down and learn how to scale an application with its userbase, it is something we are still working on today and luckily we have hired experts within this area to help us out.
5. How does Altpocket make money right now?
Altpocket wasn’t profitable until recently when we launched our Pre-sale of our Premium Membership.
We launched it in December and until then me and Jonathan used our own pocket money to run the website and pay for its hosting.
We recently got an offer from our incubator where if we managed to raise $12,000 they would double it and give us that, so in total we would receive $12,000 (Raised) + $24,000 (From our Incubator).
So we came up with the idea to pre-sell our premium membership and give the opportunity to our community to help us.
In 5 hours we broke the goal and we have since then raised around $60,000, which is being used towards hiring developers for our website and mobile application aswell as our web hosting.
6. What are some of the biggest growth hacks that you’ve been using to grow Altpocket?
The growth of Altpocket is really amazing, in total we have spent $40 on advertisement and we have around 85000 users today.
To achieve this we have used multiple growth hacks.
1. On altpocket you can either have a public or private profile, the idea behind this is so you can send your portfolio to a friend or anyone else and let them see your portfolio and how it has performed, I believe this is our biggest growth hack, people in the crypto space loves to brag to others so they share their profile with others, which is free marketing for us!
2. We have an badge system where you can earn badges from doing different tasks around the website, for example we have one you receive when you have 200 unique visitors on your profile, this encourges the people who want the badge to share their profile with others.
3. We also have a discord bot which is serving hundreds of thousands of users and thousands of discord servers.
The functionality of the discord bot is that it can be used to retreive prices of different tokens but it can also get your Altpocket portfolio and output how it is performing right in discord.
The bot is ofcourse branded to Altpocket, so whenever someone uses a command, it shows that it was handled by Altpocket.
7. Do you invest in cryptocurrencies yourself? What are your most favorite coins?
Altpocket all started due to me investing in different Altcoins, however nowadays I don’t invest anymore.
It is mainly because I don’t have time to keep up with news and what not, I work around the clock to keep Altpocket as good as possible for our community and new potential users.
But it is also because I don’t have the funds for it, even though we raised a lot of money through our community, both me and Jonathan have decided to not take out any salary until the platform is complete and we have a 100% working income model, all the money we received go towards new developers and outsourced help to improve the platform.
However, I am a big fan of NEM/XEM, it is by far my favorite token.
8. If someone wanted to get into crypto investing now, what would be your ultimate advice for them?
My ultimate advice would be to first learn about how the blockchain works and everything around cryptocurrencies such as ICOs, dApps etc..
Then look into what tokens you are interested in and you believe in, I would not recommend following a hype and invest in something because someone else is doing it unless they are doing really well.
9. Are you guys hiring now?
Yes we are, we are currently hiring developers for our backend which is currently written in PHP (Laravel Framework).
We have a few applicants already and are deciding soon who will join the team.
10. How can people reach or contact you?
The best way to reach me is through email or telegram.
Thanks Edwin for doing this awesome interview!
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