March 2020
Vol 7 | Issue 288

Q&A with Justin Tabb of Amplify Exchange

Founder & CEO

Principle Series:

Amplify is a trading platform to buy, sell, and hold digital assets. Launched December 3rd, 2019 as the world’s first commission free cryptocurrency brokerage, the Amplify suite combines industry-leading portfolio management tools, an intuitive user experience, and seamless on-boarding that is redefining how we interact with the money in our digital lives. By utilizing a blend of best in breed technologies, including blockchain, Amplify creates the trading advantage that is raising the standard for cryptocurrency brokerages.

 


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How does Amplify differ from other cryptocurrency exchanges?

Cryptocurrency exchanges today generate revenue through transaction fees taken on every trade a user makes. These are applied after the customer has placed an order at spot pricing and reduces the amount a customer profits from each order. This leads to customers churning their accounts and actually losing on trades where they believed they would be profitable. This lack of transparency causes frustration and creates a barrier to entry for greater worldwide adoption. Additionally without detailed profit and loss and market research tools new customers have no idea what they are investing in nor do they know when their investments are paying off at a higher level.

At Amplify we launched our first product, our cryptocurrency brokerage, with Zero Trading Fees on 3 December 2019 and are the first and only exchange to offer no trading fees globally. From launch we have been able to consistently deliver 1.4% more Bitcoin on each trade versus an industry leader like Coinbase. With the long-term goal of removing all customer fees even on our soon to be released premium products our strategy is to generate revenue through Assets Under Management. Later this year we will be introducing our proprietary Money Market Sweep Vehicle which will bring the ability to passively earn interest on customer accounts while providing the ability to freely trade between assets while earning. This is not available anywhere at this time.

Our proprietary industry leading Profit & Loss system helps customers understand how their portfolios are performing in near real-time and our Market research tool allows each customer to educate themselves on what they are investing in before they make the investment.

By providing industry leading tools with zero commission trading fees through our brokerage we have positioned ourselves to redefine the entire cryptocurrency exchange model through the removal of barriers to entry for mainstream investors and institutions.

How does Amplify generate revenue?

Customers today are more sophisticated and have come to expect a robust feature set without being charged fees. They expect providers to be able to generate revenue without charging them for each and every function they perform within the system. Whereas current leaders like Coinbase have raised their fees in the past year and most others are comfortably resting on their current success; Amplify offers a paradigm shift to a proven model that removes barriers to entry for mainstream customers yet generates more long-term stability in our revenue growth model.

Presently, Amplify customers are never charged fees above spot pricing on our cryptocurrency brokerage but through careful negotiation with our market makers we have arranged for the market makers to cover the fees normally charged to the customer. Customers can always rest assured that their spot price is accurate and will not be marked up with a hidden fee. For more information on how this works you can view how we compare against an industry leader like Coinbase at https://youtu.be/ZjBiEx5zQIs.

With the implementation of our proprietary Money Market Sweep Vehicle later this year customers can opt-in to lend out their assets through our proprietary system and earn passive interest with daily payouts. As part of this process Amplify will also earn revenue from these interest bearing accounts and will achieve our long-term goal of completely removing all fees even on premium products.

How can you help Amplify scale?

Amplify is seeking support through growth cycles. We have refined our marketing funnels and are experiencing strong results. We also have reduced our Cost Per Acquisition and require capital to rapidly scale our user base. Additionally, we are looking for partners who can assist us in scaling our executive management team as well as connecting with better partners, vendors, and institutional clients.


Justin Tabb of Amplify Exchange

Justin Tabb, CEO and Founder, is an experienced technologist and entrepreneur. Over Justin’s 20+ year career in software development, he’s built solutions for companies like Apple, HP, Disney, the NBA, Oculus, OpenStack, and many more. In 2017, Justin conceptualized Substratum, an open sourced project which aimed to provide a decentralized internet. Today, it is one of less than 20 solutions that can provide censor free content behind the Great Firewall of China. Contact Justin  invest@amplifyexchange.com