1. What is Niffler?
Niffler.co is a simulated crypto-trading platform designed to help people learn about crypto and cryptocurrencies without the risk. We do this by giving our user $100k in USD play money to trade with and once good enough, they can earn “real” money helping teach others.
We like to think of it as Coinbase meets Patreon…without the risk!
2. Why Niffler?
That’s a great question and one we get asked often… Simply put, a “Niffler” is a highly intelligent entity that has a predilection for treasure & anything glittery. It came from the movie “Fantastic Beasts And Where To Find Them” and we thought it was a pretty damn cool analogy for the community…especially the intelligent part!
3. How Niffler was born?
As traders ourselves and like everyone else who is playing in the space we saw a huge uptick in the last year or so of friends and the general public looking to get into cryptocurrencies and crypto trading. We like everyone else saw and continue to see there is major interest, but not knowing where to start and the fear of the unknown especially when it comes to understanding the basic fundamentals of trading is what’s kept so many people out. Most newbies are a little skittish to drop money into a real exchange right away without having a clue what they’re doing. It was sort of that light bulb moment for us that if we can help solve the fear, the interest would return.
On the flip side, we also wanted a place or home more than just what Patreon is in terms of hands on trading where experienced traders could earn money on a Patreon type pledge model helping newbies and others learn to hone their skills. With Niffler.co experienced traders with a “Proof of Experience” badge can easily grow their audience or followers, share their YouTube or BitTube videos, Trading View screenshots, links, images etc and interact with their followers while also making real time market priced trades and seeing those results in a far more hands on way that is risk free and safe as they are using play money to learn together with.
4. Why not simply paper trade?
We don’t have anything against paper trading as it works for some, and not for others, however, we wanted to approach cryptocurrency trading education from a tech perspective by giving our users a robust hands on experience through a real life and real time simulated crypto exchange. We believe there is simply no safer and easier way to learn than rewards based gamification thats hands on a real time.
5. Who is behind Niffler?
Our core founding team has a wealth of startup experience having launched several startups in the past as well as being both advisors and mentors to numerous startup founders over the years. Our overall team consists of 6 people, most of whom have had their own startups, or a tech business in their respective fields previously…ie Dev, marketing, content etc.
Crypto Training For Beginners Without The Risk; Niffler.co Interview
Interview with Niffler.co co-founders George & Aidas. I recently caught up with the team from Niffler about their…
6. How is Niffler funded?
Currently Niffler is being bootstrapped by the core founding team with the help of some friends (mostly those we have worked with in the past on previous successful projects) and some family. We have just begun talking to Angels & VC’s and look forward to seeing where those discussions leads us.
7. How important is to simulate trading before doing the real deal?
Speaking from experience even some of us on the team found ourselves getting REKT in the early days. Difference between us back then and Niffler.co is the fact we lost real money and in some cases large sums of money. With Niffler.co people get an opportunity to learn what they are getting themselves into, whether its learning more about a projects game changing potential that should see its worth or value skyrocket (or moon) or an opportunity to get a safe birds eye view of the crazy market volatility found in this space.
Not to sure about statistics out there in regards to learning first on a simulated exchange Vs diving right in, but a simple Google search on “Stories of people getting REKT in crypto” will probably turn up some pretty crazy real life results and stories. I believe there is even a REKT podcast out there of people sharing their horror stories of losing it all. It’s a pretty common thing for newbies and something we try to address. .
8. What is the biz model for Niffler, helping with the training wheels should eventually pay right?
The two things we wanted to avoid at all costs when we started out with Niffler.co were 1. Advertising — We are huge proponents of not having any ads on our site as they always tend to look scammy, fishy and clutter up the UX/UI. 2. We are huge on not charging our users anything and always remaining free. We do have the option for newbies and others to follow and become a monthly paying patron of top traders who have shown “Proof of Experience” and have a wealth of knowledge to share, but that is completely optional for all users as the platform is otherwise free to use. Even our competitions where we give away a ton of prizes are and will always be free.
Our business model revolves around partnerships. Those partnerships include various blockchain projects, exchanges, funds, experienced traders etc. We also have major partnerships with groups that are playing in the space, but also need education for their teams, employee’s, clients etc.
9. What does the roadmap of Niffler looks like?
We soft launched about 2 weeks ago now and the response has been truly amazing and truly humbling. We are super fortunate and thankful to so many people and users both within the platform community and outside of it for their feedback and thoughts. We have already learned a lot from those interactions and what people truly want to see Niffler.co become and we aim to take every one of those into consideration and in most cases we will be adding those suggested features and requests..ie DM’s, @’s Stop Orders etc. Naturally we also have some big plans within our internal roadmap as well, and for the most part those include building upon the relationships and partnerships we have been fortunate enough to already established so as to ensure our users get the best experience possible whether they are new to crypto and crypto trading or if they are experienced traders looking to grow their audience. What most people see now is what we would call our MVP, what we have in store in the coming weeks and months we think is really going to excite people.
10. What is Niffler Core team perception of current state of crypto, and what you guys think the future of crypto would look like?
We think we could all agree that there has never been a more exciting time to be involved in the blockchain, crypto and cryptocurrency space and to be able to do so as a fast growing startup with an ambitious team that aims to help with mass adoption through education is really compelling for us all. We are truly looking forward to joining so many other brilliant founders and projects as another contributing piece of the adoption puzzle in this globally game changing tech.
Back in 2011 when drones were not mainstream, were not easy to deploy or fly, and were especially not cheap (dropped +15KUSD in professional gear back then); I wanted to make sure I did not throw away my investment down the drain on the first fly, so I spent considerable hours on a R/C Training Simulator perfectioning my drone flying skills (for not saying my crash landing skills) previous to my maiden voyage, it saved me copious amount of money and migraines.
Knowing what it takes to fly and understanding how to do it most certainly DOES NOT make you a pilot material. Same goes for trading, buying cheap and selling low “knowing how-to” will not make you money, no doubt wil cause the opposite. Some of us where fortunate enough to enter crypto in the bull run of 2017, and learned the hard way that not every season is bull season as 2018 has shown us.
This being said, I write to you buy experience, that starting with training wheels specially if you are not willing to lose your initial investment, is the best approach, and the safest. Niffler just makes that process of initial leap of faith, from simulation to actual trading much simpler and positively less risky to embark.
If you are about to start crypto trading give Niffler a go, it will be time very well invested!
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