Topic: KRIP.TO a new automated trading platform for arbitrage between exchanges (Read 8034 times)

Sorry for super late reply: - but this can be avoided or atleast mostly mitigated by using special strategy where you never keep more than 50% funds on exchanges plus it has to be spread out evenly - in such case you only loose small part of funds.

Also you don't pick exchanges that are not controlled properly or licensed etc.. or are not trustworthy - most bigger exchanges bitstamp,kraken, gdax, etc are capable to undo the damage if it happens for example.

So minimize exposure, don't keep big sums on one exchange, pick good exchanges, make sure you're accounts are safe, make sure investors are aware of the risks and they accept them.

for example: You say to clients that max loss could be 25%. And either they accept this or they don't participate.

Cheers

Hi Everyone - it's been a while since I asked you guys regarding arbitrage fund ICO - since then a lot has happened and this exact idea brought us in to a much larger project with arbitrage at its base of course. I would like to invite you all to check out this post: https://bitcointalksearch.org/topic/annicomrp-money-rebel-platform-links-fiat-crypto-in-one-rebellious-app-2212650 . The ICO is powered by KRIPTO's arbitrage technology so it's a big deal We will make sure that investors - will have a money making product from the start of this huge project - which will provide a base for the value of token in early months until we put more products online.

As you will see project aims quite high - we put together experienced team of experts each from their own fields. KRIPTO covers the crypto world part - Let me know what you think.

have another question:
What if an exchange where you have majority of your funds is hacked?

So let's say half of all investements are gone.
What do you do? Will you pay it from you own money?
What if you do not have enough money to cover losses?

This is a great idea!

Regarding the legal issue of trading with investors' money - I think the best way would be to issue a token and then pay some sorts of "dividends" from doing arbitrage with the whole fund, based on number of tokens each investor holds. How to actually pay out these "dividends" is the next issue to solve... Nevetheless, that way I think you would avoid getting brokerage house licence.

Hi - Definetly you addressed some very good points thansk for feedback.

Well yes but then again you're able to expose less funds that you would normally by providing api key access to minimize risk. Also results are way better with having one big account. So it's a gamble you take if you want.


That is true - you need license to be able to trade in the name of others - so there are three options here - either get a partner on board who already has such license or open a limited liability company and allowing the initial purchases of the ICO to become and investment in to the company in this case such funds can be used for trading - there are conditions that are agreed upon both parties obviously.
You get the license yourself - but here can get tricky as obviously the whole point is to be cost effective.

How can you do eg. USD/BTC arbitrage, if someone invested ETH or anything? You have to convert the funds, otherwise you can't trade with it.
This looks like scam.

You're wrong sir. Well you can't trade usd/btc with eth naturally - but you can trade USD/ETH with no problem with no conversion . This is what we meant when saying limited investment you raise exactly the funds you want to use for trading rather than converting them. Keep it clear,simple and transparent.

Definitely there is a credibility and trust card that will convince people that you will not just run away with money - you can resolve this by inviting credible members from crypto community in to advisory board.

Regards,

edit: forgot to answer questions regarding guarantees. Well obviously crypto world usually does not provide a lot of guarantees but we adjusted the strategy to be as clear and as predictable we can. And in the end you still get a token that comparing to other projects brings some predictability and safety. Atleast you know what youre getting yourself in to as it stands on a working well tested alghorythm.

Ofcourse there is always a chance that something happens to the exchange over night  (worst case scenario) - like bitfinex hack we've been through that and basicly having multiple exchanges in use actually prooved to be good as we diversified funds - so only profit was touched. There are also other strategies that minimize such risks by only having funds that are needed for the next 1 hour to be on exchanges other are stored in private wallet etc...

Hope i answered your questions.

Isn't this new strategy more risky for investors? Since now you have full control over the money (not only trading control via API key)

And what about legal things?
I mean in most countries it is prohibitted to trade with money from other people while you don't have a money transmitter licene.
What if you have to close down because someone sues you because of that? That might be expensive too. So is there a gurantee that all investors will get their money back in this case?

How can you do eg. USD/BTC arbitrage, if someone invested ETH or anything? You have to convert the funds, otherwise you can't trade with it.
This looks like scam.

Hi everyone it's been a while since we said hello here To explain the absence -  during 2016 we've tested various approaches how to address the market with best results. While our initial intent was  for more open approach where anyone can just link up api keys and trade. It showed that such approach still requires a lot of knowledge and manual interaction from the user to conduct the arbitrage with consistent results. We've also found out that for many users linking api keys was too risky.

So there was a lot of friction for our users and their profit so we decided this was not the best way to move forward. Currently we're following a different approach that produced better results with less friction. You can read more about this here: https://medium.com/@miha_20113/hello-everyone-fa1c1787a39b

You can see the results we're making with the new approach here https://medium.com/@miha_20113/arbitrage-results-85da86c35392

We're currently exploring options of issuing a digital token on ethereum blockchain that would guarantee monthly profit based on how much of this token  you own  - this way we would be able to gather the trade volume and make the best results with one central account.

What you guys think? Would you invest in a Arbitrage fund knowing you will be able to withdraw half of invested funds after a year plus based on how many tokens you own you would get monthly profit paid out regularly. The second half would be used for development of additional trading strategies that would boost profit from 1-3% monthly arbitrage to up to 5% and more. We would only speculate with  profit that comes from arbitrage so we keep the control and safety arbitrage provides.

Also The Arbitrage fund would only accept certain amount of investment so we keep the arbitrage opportunities going without overloading the market.

Any feedback on this would be very welcome

p.s.

If anyone wants to use the platform oldschool style - we can provide access but there is a minimum balance limit. You need to have atleast 20 000  usd in fiat and crypto.

Brilliante!

Hey, anybody has more information or feedback on why krip.to closed the doors?

Hi! I am sorry is the project alive? no posts here..
I have deposited BTC to the exchanges and connected the API
But today I cant log in or even open the projects web page..
please help
thank you

Yes, nothing in the spam folder. In fact, says my username doesn't even exists ?

The data that was entered was correct , along with correct permissions.  It was re-entered multiple times w/ new data. I'm not going to re-create api keys a dozens of times to figure this out. Something is wrong on your end.

Thanks.

Hi,

Emails should work as we see them being sent out and arriving in the mailboxes and we're using google for important emails. Please check your spam folder just in case if it ended up in there. Our domain krip.to could be unconventional to some filters i guess.

If the api doesn't work it is because either the wrong data has benn entered in or the permissions are not set correctly when creating the api key. We are working on a better error response system that will point out the issue and will be deployed shortly

Please try to create a fresh api key and follow our guides which offer step by step tutorials at https://kripto.zendesk.com/.

If you still have issue please send us an email or open a support ticket we'll be happy to help you resolve this.

Best regards,

Website doesn't work for me   

The password reset ( temp password ) never works plus the api keys that are put in always fail.

Thanks for addressing this concern.


Well for one we do not request any withdrawal rights so we cannot take your money. Second it is arbitrage trading so there is no speculation.

While you need to give us a certain level of trust we do have to put some level of trust in to you aswell because we don't profit if you don't and we cannot take any of your money why would we want to miss-use the buy and sell rights - it would be a loss for all parties included

I can also add that we've put lots of effort in to api key security so they cannot be retrieved ever from the website itself, they're only used in the backend when trading happens and the backend is isolated from any publicly available servers.

If you need any further info please don't hesitate to ask.

Best regards,

Well, that's a huge problem for many people including me. How do I know that my keys are safe and not being misused?

Yes. balance info and buy and sell permissions are needed for each api key.

Regards,

Does this mean you have access to the users exchange accounts and you can execute trades in their behalf?

Just a nice screenshot of our platform in action today. Lots of dynamics and volatility exactly where  http://krip.to feels the best!

Do you can give info about your browser on android, because i used android too. And everything is fine. Usually the problem on the browser but let me see.

Hey, great work on this, I happen to run a niche dedicated server hosting operation and I have some underutilized servers in the US, I'll shoot you an email and see if you want to get a couple of free months and maybe use it at cost or something. I'm focused towards Asia so a lot of my servers not on the coast are feeling a bit abandoned as they ping pretty badly to Asia, but are perfectly fine otherwise.