Jan Andersen on how CPH Crypto competes with Binance and Coinbase

0:01i'm ashton addison from event chain for investment pitch media and fintech news network and today on blockchain interviews we have jan anderson the ceo of cph crypto jan welcome to the show and thanks so much for taking the time to be here thank you for having me you're very welcome i'd love to kick off our time with getting a little bit of background on what cph crypto is and

0:23does as a crypto brokerage firm uh cph crypto is a new scandinavian crypto broker our focus is offering uh the most popular crypto pass first of all locally and here in the nordic countries but also at a later stage more on a global pitch for sure we think there is uh is a growing market also here

0:50maybe not the same as you've seen in this in the in the asic industry or u.s based markets but what we see here is is also a very growing community of uh traders and investors into the crypto market so uh as we've been a part of the let's say the classical broker industry we've had a lot of requests and and interests

1:19in that area and it's been our roadmap for for some years now and we thought it's it's a quite good timing right now uh entering that market with the uh as we think a very strong offering for that community definitely and it's great to hear that you have uh already built uh you know a name in the traditional legacy markets and you also have that relationship with

1:45the nasdaq company uh can you talk about you know the relationship that you have with the nasdaq company and if that plays an advantage for cph crypto yeah for sure we've been in the market for more than 20 years within uh financial services financial i.t and more or less into the fintech industry and uh since 2008 uh we've had our mother company which is

2:13the the holding company which is listed on nasdaq omx and this is an entity which owns cph so 100 and we also have a number of sister companies within the financial industry one of them is a regulated broker with more classical and services where the crypto industry is not in the same way

2:43handle but i'm sure that will arrive and we're pretty much into that industry and how that is working already uh cpa scriptures actually already registered with the danish fsa and i think the mld5 directive and what is happening on that stage is just a thing which is going on already now and we are very prepared for that as well so uh being a part of a group i think is

3:10important and that's the stepstone for cph crypto offering uh very strong services within let's say the more core uh uh parts of it which is a strong price uh and insured coins which we think is the basics and we think a part of that is is to actually enter the industry helping for more competit competition

3:38because as we see it right now it's more like a very growing industry but in all directions which is very exciting and very a lot of new things is coming on but we think it's important to go a little bit back and just offer the very core essence of actually trading so so our target group as you can see is not just uh uh investors or or people who would like to

4:05hold bitcoins of course they are very welcome because the the price structure makes it very interesting for those guys as well but especially if you are into more trading if you actually care about the costs of trading you will soon learn that it's uh it can be quite expensive to to choose the wrong broker and so on i think the competition is is growing which is very good for for

4:33the clients and investors all over the world actually so uh so coming from the the classical industry i think that will give us a good background but and offering call services so so we're part of a group and hopefully we will be able to to find let's say a niche and a step stone here in the scandinavian countries where we have

5:00our own approach to to working in financial industry yeah that's a great background yen and you touched there on the competitiveness in the market right now and also on the fees and cph crypto on your site is branded as a you know a discount crypto brokerage can you talk about the importance of the fees uh and the way that you've laid out the fees and also the fact that you have

5:24this subscription monthly subscription you know versus just trading fees per trade can you talk about your strategy behind the pricing yeah yeah of course um we've been looking at that market for a number of years actually and um compared it to what we see in the fx industry or the uh the stock industry and what you've seen over the last 20 25 years since it's it really broke

5:53through with the online industry where you had your discount brokers and so on prices has gone down as the market has matured i think it's a perfectly normal way of an industry growing and developing and we think right now both you can see the market is growing in numbers and in trading volume which is very positive and it's it's been established in a

6:18completely different way the last couple of years and and what we saw is that for both our own observations but talking to a lot of traders from the classical industry is that they are a bit confused let's say so about a lot of different products all exciting products but also quite complicated products and as well it has been quite difficult to look through the price

6:48structure with a lot of exchanges and industry and that's probably how it is as the the industry is developing within the crypto space and the blockchain industry but what i think is important if you want to see the huge number of traders who wants perhaps also to join into this industry is a more simple way of handling the trading part at least

7:15the investors they need simple tool they need a transparent price structure and easy to use tools and stuff like that actually pretty simple way of handling that and i think we will be uh um a broker who will be able to to deliver that uh already our offering is is very narrow as it should be because the price structure is important just to have

7:43our footprint there and i think that's uh the basic is to make a change there and jump into to to the industry now where we uh hopefully can can make an effort to to offer uh a little bit new services uh uh on the trading uh industry or the traders uh more to be specific if you are a trader it's not like you just want to hold bitcoins uh

8:11you probably want to have some other important investing strategies trading strategies and if you look into what you are paying today a lot of places it will become very important for you to actually do your strategy or if it's a scalping strategy or your swing trader day trader whatever and that's important for or at least those clients and those investors that we are

8:36reaching out for they will care about those costs they will definitely have an issue with a lot of the brokers today they will be able to buy their bitcoin so a lot of other small coins for sure but when you add it up it's important and that's why we also thought about offering a a one-time fee you can jump on to uh for a month or you can have it for

9:03a year so it's very cheap if you just buy that and then you can trade unlimited actually so it's not about just a number of trades it's you can have the the the frequency you like and the actually also the the volume of the numbers you like and that's important so you can concentrate on your strategy on your trades and not exactly on uh how much do i actually pay because often

9:28with brokers it's it's the hidden fees and it's it's especially let's say the spreads between a a bit and sell price and uh um if you you sit there you don't sit and calculate everything you need the uh the ability just to to focus on what's important but for sure uh uh other kinds of investors and traders are also welcome because i think honestly the price structure is very

9:57strong and and i think it's important to mention that also um one thing is surprises but we have very deep liquidity the order book execution is very fast we have at least comparable with the some of the big names in the industry very strong spreads actually even though that prices is low and and actually free commission for for the one-time uh training of uh you can

10:25buy for a month so you can buy for a year so i think that's that's uh the thoughts behind it and just offering a very simple product to to to traders so they are able to to handle their strategy without any concerns of being well not ripped off but if if you look at our comparison which we have on our website if you say you you you trade within let's say

10:511 000 u.s dollar or 10 000 us dollar or 100 000 us dollars which is pretty common after all also in this industry and that will grow for sure in the coming years then it's a lot of money you can save and that's important if you want to get your profit without within your strategy you need to concern about the cost because if you're not you will lose that's for sure so so

11:13that's that's the basic and of course uh we also know there's a lot of other important uh parts of choosing a broker and where you want to be but but one thing is definitely price parameter which which is important for us uh but there are also other important uh parameters which we can talk about which i think we have in our offering which is attractive for

11:37for our new clients for sure that's great jan and you touched on a lot of great points there i think a lot of traders don't really uh look at the trading fees that they're paying because it's per transaction and they never really add it up to see if they're doing a lot of trading high frequency trading then it can add up a lot and certain crypto exchanges have pretty

11:59high fees and it's great to hear that you have the liquidity and low spreads to allow for low fees or just using the monthly subscription so that that is really interesting and you talked about other attractive offerings for cph crypto i think one very important aspect is the security and integrity of the exchange the user's information and the funds

12:21that are on the exchange to know that all those funds are secure so maybe you could touch on the security practices that cph crypto is using yeah for sure there's no doubt that looking out also out in the market one thing is all these a lot of the new traders coming on these days i think they have a important request is actually how secure is the broker

12:48i'm dealing with how are they handling the the whole process and what we decided is to to make an insurance for all coins deposits and we have a a third-party custodian which has all coins his deposit with some big insurance companies and uh that was very important for us and it's actually included in the price so there's no additional fees or

13:15anything like that it's just a part of it as being a client with the cph crypto so uh it's a basic offering i think the industry will go that way in general because that will be looking at the history and there will still be some cases incidents uh in the future for sure uh normally when you've seen incidents it's it's coins which has been hacked and and

13:43money's gone afterwards and stuff like that and this is a very important initiative for us to to to make coins in short and i think that will be important for a lot of uh potential clients and also the existing industry yeah definitely that's that's assuring yeah cool thank you yen um and we're running out of time soon but i want to talk a little bit about

14:08your user base and your user base and your current growth your team is based in denmark but the platform looks like it's a global operation can you talk about where are you seeing growth right now and are there any restrictions where you cannot grow um yeah for sure there's there will be and are restrictions in a number of countries for different reasons for sure

14:32obviously there are countries around the world which is a no-go but we will not accept the u.s or canadian clients as well due to other uh reasons and so on as a lot of investors probably know but in general we invite a global community and we are from denmark in scandinavia and for sure we will invite locals at the beginning here and that's where we see also attractions

14:59we've just opened right now so it's very brand new and of course we're looking forward to to developing the business so our base here is in scandinavia and we will reach out to europe already now but we can see there's some interests from asia and other parts of the world for sure and they are absolutely welcome for sure but but our focus and and and

15:23activities at the beginning will be locally and regionally but we will grow as soon as possible for sure and we think our offering is is not a local based thing it's a it's a global initiative because it's about uh how traders are having the best uh features and having the best offering so i think we will attract a lot of uh clients around the world so uh that's uh

15:49that part of it and and the other questions you had yeah well you touched on the restrictions half as well at the beginning there and the growth so those are both great points uh so if there are viewers or traders that are looking to learn more about cph crypto and to start trading what's the best way for them to get involved yeah please visit our website

16:10uh both on the web and mobile on cphcrypto.com uh you'll be able to find all the most important uh information of course we've just launched and there will come a lot of new things ongoing the next couple of weeks and months for sure and we will be out there trying to uh to inform and and and tell all what we know about of course our own business but what the uh

16:37benefits is uh for for new clients to come and use us we know there's a lot of out there who's been in the industry for many years and have other brokers and exchanges but as we can see a lot of uh clients actually have civil brokers and i'd say it's it's very easy just to test us off and see if it's it's it's a possibility to also use us for for trading uh already

17:05uh now because uh basically it's the same products you buy and you get the same services just for uh cheap uh than you're used to and you're insured so uh i think we have a great offering and i hope we can invite a lot of new clients in this industry so just looking forward looking forward great jan well i will leave the link to cph crypto in the description box below

17:31thank you so much for taking the time to come on the interview it's been been a pleasure learning about cph crypto and all the best on your continued growth moving forward thank you a lot thank you for having me you