Home Crypto News Overbit CEO interview April 2021

Overbit CEO interview April 2021

20 min read

In a latest interview, Chieh Liu gave Coinjournal some unique insights into the latest Overbit survey, in addition to the internal workings and mentality of a thriving cryptocurrency trade

We spoke with Overbit’s CEO and founder, Chieh Liu, to debate Overbit’s future plans, a day within the life for a tech CEO and picked his brains on the state of the market and the place we is likely to be heading subsequent, in addition to a glance again at what Overbit achieved with its merchants’ survey in 2020.

Liu has an attention-grabbing background and has established himself as one of many youngest noteworthy tech CEOs to emerge from the cryptocurrency sector. Graduating from California State Polytechnic University in 2011, Liu went on to realize expertise at a variety of funding companies in Asia earlier than founding Overbit in 2017 to carry collectively foreign exchange and cryptocurrency buying and selling.

What is Overbit?

Please inform us extra about your self, your entrepreneurial journey, and Overbit?

I’m Chieh Liu, the founder and CEO of Overbit. My first journey into crypto was round 2013 with Bitcoin mining.

Since then, I’ve been watching and monitoring this trade intently particularly in buying and selling. Overbit formally launched in late 2018, and we developed a simple-to-use platform with an especially straightforward onboarding course of to fulfil the calls for of novice merchants.

Share with us your typical day at Overbit?

I begin my day with H2O whereas studying the information/markets adopted by a fast stroll with my rescued combine breed canine, within the park.

As an early riser, I often begin my day early in interviews – as I’m the important thing spokesperson for Overbit. I share my ideas on Overbit’s plans to completely different media shops throughout multi-languages, identical to you might be interviewing me now.

My day continues with a collection of day-to-day conferences throughout the completely different enterprise models akin to with advertising and marketing, assist, and growth groups to ensure every part is heading in the right direction.

I attempt my greatest to maintain a work-life stability and often by 6.30pm, I’m strolling the canine once more as I wind down for the day.

What do you contemplate your largest accomplishments with Overbit thus far?

To have the ability to preserve offering our customers with one of the best buying and selling expertise and I’ve performed so with the launch of a demo account.

All customers are given apply funds, with 8 BTC and USDT $50,000 to familiarise themselves on the platform and to construct confidence in buying and selling.

Overbit demo account: www.overbit.com

Surfing for a survey

You launched a crypto merchants survey from 17th of March to 31st of March 2021. How did the concept for this survey first floor and why conduct a survey?
An annual dealer survey is de facto useful for us to get a greater understanding on how merchants behave in another way from yr to yr. Everyone within the trade desires the crypto trade to continue to grow, so any contribution to the general public discourse is significant and helps to attain this aim.

What have been a few of the key highlights from that survey?
From a pattern of greater than 2,500 crypto merchants from 90 international locations throughout 5 continents, listed below are some attention-grabbing conclusions.

a) Trader background and preferences
Overbit discovered that the majority merchants fall throughout the age group of 35 to 44. 73% of merchants have at the least one yr’s expertise of buying and selling in cryptos.

53% of crypto merchants solely have interaction in spot buying and selling, whereas 47% additionally commerce in crypto derivatives together with futures, choices, swaps, forwards and contracts for distinction (CFD).

b) Trader behavioural patterns
The final part of the survey tried to gauge when merchants are most energetic and the belongings they like to commerce. Overbit discovered that novice and professional merchants commerce the least, whereas mid-tier and superior are probably the most energetic.

41% of crypto merchants surveyed had additionally traded Forex. Of observe, this quantity was increased amongst novice merchants at 63%, maybe indicating an curiosity in diversifying into crypto buying and selling.

Please discover hooked up a abstract of key highlights within the subsequent photos.

If you have an interest in studying 2020’s full survey, you will discover it right here. Stay tuned for 2021’s outcomes later this month!

What is the largest drawback that Overbit is making an attempt to unravel by this 2021 crypto merchants’ survey and why is that this drawback so essential to unravel?
Overbit is dedicated to educating merchants each from the crypto and conventional house to know digital currencies higher and to advertise a pathway into crypto.

We wish to perceive and share our findings with customers on what is occurring within the crypto asset house because the sector continued to increase. We belief that quantitative analysis akin to it will have the ability to assist establish the next key areas:

  • Cryptocurrency and conventional markets mindsets
  • The significance of exchanges onboarding customers
  • Deep dive into merchants’ behaviour and buying and selling preferences
  • We will analysis into the completely different instruments chosen by merchants and communities
  • Why is safety so paramount to Traders’ funds
  • We will look into the completely different buying and selling platforms and exchanges
  • Lastly, we are going to share the demographics of merchants who’ve launched into this survey

What are a few of the traits and predictions that merchants can stay up for on this 2021 crypto merchants survey?
Traders can stay up for seeing traits associated to progress in rising world markets, growing institutional adoption, booming DeFi actions and a highlight on Non Fungible tokens (NFT), that are all changing into the centre of consideration.

The way forward for Overbit and the market

What are your ideas on the crypto market, short-term and long-term for the next?
1. Bitcoin
2. Ethereum
3. DeFi
4. NFTs
5. Cryptocurrency usually

Bitcoin and Ethereum are the OGs in crypto, and I don’t have a look at them for the short-term. I’m extremely anticipating them to have vital progress over the following two years.

DeFis are getting extra mature now, and we’re additionally contemplating itemizing a few of them on Overbit.

NFTs are sizzling and are the brand new child on the blockchain proper now. Money flows with hype for my part, however it’s but to be seen if there might be extra functions for NFTs down the road.

So in abstract, individuals must be excited for all the good things that’s in retailer for the cryptocurrency house.

Can you inform me what you’re trying ahead to undertaking probably the most with Overbit in 2021?
A shocking cell utility is coming in Q2-Q3, and we’re additionally rebuilding the buying and selling web page to optimise its effectiveness. Watch this house intently!

What is the one factor that you’d change about cryptocurrency that would carry a optimistic end result for all?
Getting rid of “proof-of-work”, aka mining as that might significantly assist the atmosphere.

Mining with pc processing is vitality intensive and hurtful to the atmosphere. In a latest article by mic.com, it was mentioned that Bitcoin is accountable for almost 37 million metric tons of carbon emissions annually. This is corresponding to the annual carbon footprint for the whole nation of New Zealand!

Do you’re feeling cryptocurrency is slowly shifting into the mainstream to the purpose it may substitute fiat forex at some point?
I can see at some point once we begin utilizing CBDCs; probably backed by Bitcoin if it have been to at some point grow to be a world reserve forex.

How may blockchain expertise be utilized to vary trendy society and enterprise/retail and even Government infrastructure for good?
Blockchain has the potential assist create a extra environment friendly world the place completely different firms, industries and folks could be linked with one another with out intermediaries in a way more clear and environment friendly means.

What misconceptions do you’re feeling cease lots of people from investing in cryptocurrency?
Let’s speak about Bitcoin, the place the naysayers are considering that Bitcoin is digital and might’t be bodily owned as a result of it’s only a hype bubble.

Yes digital currencies are “virtual” certainly, nevertheless the shortage and performance that Bitcoin affords is way more clear than bodily gold. We have seen Bitcoin leap to 700 per cent up to now yr and within the first two months of this yr, it had already risen by 70 per cent, hitting a report US$61,742 on March 13.

With all of the assist from the establishments akin to MicroStrategy, PayPal, Tesla and the checklist goes on, Bitcoin has surpassed the worth of gold.

Do you suppose any altcoins may knock Bitcoin of it’s place as high canine?
No, I’m a Bitcoin believer.

Do you suppose cryptocurrency will ever be broadly adopted by huge retail companies like Amazon for funds?
Yes, and it has already occurred fuelled by institutional buyers and investments funds viewing Bitcoin in its place portfolio diversifier and an asset to retailer worth.

I truthfully consider this development shouldn’t be going to cease anytime quickly.

How was 2020 for you and Overbit? What are a few of your key takeaways from final yr?

2020 was an unprecedented yr with COVID-19. Thank goodness, the crypto market and buying and selling trade solely obtained minimal disruption compared to different industries. We noticed a rise of just about 40% in buying and selling exercise through the pandemic as extra individuals stayed at dwelling to work and had extra time and suppleness to commerce.

In the midst of doom and gloom, I wished to inject enjoyable and cheer to merchants, so I invested a five-digit finances to launch Overbit Sketches – a collection of instructional buying and selling commercials with a humorous spin on it.

Here is our newest Sketches business on safety, test it out and have amusing!

I additionally wished to offer again to my merchants who have been loyal to Overbit. So with that in thoughts, I launched Overbit Rewards Hub. This is one other long-term funding that is ready to carry day by day pleasure to our merchants.

Being a gamer myself, I  perceive the precept of gamification and know the potential in gamifying buying and selling. A buying and selling ecosystem akin to this may help construct belief between Overbit and merchants because it has been confirmed by the success of many blockchain-based gaming platforms.

With the rewards hub, merchants can now have enjoyable taking part in several types of video games to earn crypto perks and even BTC or USDT with out having to bodily commerce on our platform.

Overbit Rewards Hub Dashboard

Overbit Social Media Channels:

Twitter: https://twitter.com/officialoverbit/
Facebook: https://www.facebook.com/Overbit1/
Telegram: https://t.me/OfficialOverbit
Reddit: https://www.reddit.com/r/Overbit/
LinkedIn: https://www.linkedin.com/company/overbit/
Instagram: https://www.instagram.com/officialoverbit/
Youtube: https://www.youtube.com/channel/UClt81V91NPD12ENliF9FOBQ/
Blog: https://blog.overbit.com/en/

About Chieh Liu – CEO
LinkedIn: https://www.linkedin.com/in/chieh-liu-07290b157/?originalSubdomain=hk
Twitter: @cl_overbit
Telegram: @chiehliu
Hackernoon Account: https://hackernoon.com/u/cl-overbit

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