As many top cryptocurrencies appear to be temporarily stabilizing near all-time highs, users looking to bet on coins that are a bit more volatile are scouring exchanges to find deals.
Amsterdam based startup tab trader Cashing in on this discovery with a platform that aggregates prices and token availability across dozens of exchanges. While other platforms allow users to view token prices across exchanges, most are desktop-optimized while TabTrader has made a substantial presence for its mobile apps on iOS and Android.
As different exchanges take different approaches to onboarding new tokens, crypto traders are increasingly signing up for accounts on multiple exchanges and prices across multiple apps with multiple notification types for each. are watching. Many users rely on TabTrader for its cross-exchange price alert feature, notifying users when a particular token has moved above or below a certain price. While a lot of exchanges offer this functionality inside their native apps, the reliability and customizability of these push notifications has often been inconsistent.
CEO Kirill Suslov told Nerdshala that the TabTrader app has over 400,000 active users, with a particularly strong presence in Europe and Asia.
The startup has adopted a Kayak-like model, which aggregates prices for tokens and charges exchanges discounted fees when users make purchases through the app. While users plug their wallet information into the app to easily make purchases via connected exchanges, Suslov says TabTrader never has access to user funds.
Along with these discounts, TabTrader also makes money through a paid version as well as a $12 monthly subscription to advertising. Suslov says that his 20-member team has grown to reach his current audience without paying for marketing.
While hundreds of millions of users have created accounts on centralized exchanges such as Coinbase and Binance, Suslov says TabTrader’s biggest opportunity may be to embrace so-called decentralized exchanges like Uniswap that allow users to rapidly exchange tokens with other users. allows to do.
Suslov says that while exchanges have great technology built into the back-end, the front-end interface is not as easy for users to navigate, leaving room for aggregators like TabTrader to streamline the user experience while allowing users to explore decentralized. Exchange for the first time. The startup says they are starting out with a number of Solana-based exchanges, including Serum, Radium and Orca.
,[Decentralized exchanges] The hottest topic of 2021, ”says Suslov. ,We got up to board this rocket ship. ,
Suslov told Nerdshala that HtabTrader has banked $5.8 million in Series A funding from 100X Ventures, Hashkey Capital, Spartan Capital, SGH Capital, SOSV and Artesian Venture Partners.