Cryptocurrencies

Coinhouse, one of the first crypto players in France! – Cryptocurrencies

The blockchain ecosystem is growing and more and more people are interested in cryptocurrencies. However, accessing this market is not always easy. Indeed, understanding the use of wallets is not instinctive. In order to support these new people, certain structures have been created with this intention. And today we have the chance to chat with Romain Saguy from Coinhouse. Here is the interview we have prepared for you.


What is Coinhouse?

Coinhouse is the first registered actor by the Autorité des Marchés Financiers (AMF). That is to say the first regulated player in France which allowsbuy, sell and hold cryptocurrency in accordance with the regulations of fight against money laundering and of fight against terrorist financing. Historically we were called the House of Bitcoin, as you may have mentioned, with a counter where you could welcome clients and support them in their procedures to buy and sell cryptocurrencies.

We therefore have from the start in our DNA a desire to democratize access to cryptocurrency. As time goes by, the need to do a more successful platform and addressing the European market has made itself felt: we have asked for investors to support the development of the company and we have Renamed Coinhouse for internationalization.

Today our mission stay focused on the democratization and use of cryptocurrencies and blockchain technologies from Europeans, allowing them to benefit from services around these assets. We are convinced that the only viable way when you enter these markets, this is the regulation. This is why we are an actor proactive in terms of French and European regulations. From the start we have modeled and applied the devices regulatory from traditional finance to the world of digital assets.

But what is the difference between Coinhouse and a classic exchange?

Coinhouse’s job has never been that of an exchange but that of a broker: we are a buy-sell intermediary which allows French actors to have support in French with a company regulated in France.

If you use an exchange like Bitfinex, Binance or Kraken, you are going to have a hard time having access to an interlocutor who speaks French and who is ready to answer your questions. Conversely, Coinhouse has a team of experts, who can youexplain what blockchain is, how different crypto projects work, and support you on your investments and management of your digital assets.

The second fundamental difference is that we are transforming ourselves into crypto-bank : Not only can you buy cryptocurrency and be accompanied, but we now have the desire to offer products similar to traditional financial products (which you can find in a classic bank) but with cryptocurrency underlying. The idea is to offer a “Crypto savings account” that allows you to manage your investments according to your risk profile.

For example, in October, we launched un management product dedicated to digital assets : we use an algorithmic trading system on Bitcoin that allows your capital to take advantage of periods of increase in this asset all in controlling risks in the event of a market decline.

Our vision today is therefore to position itself as an actor who will support people who want to invest in cryptocurrencies and offer them solutions that must be seen as diversification or alternatives to traditional financial products.

What target is Coinhouse targeting?

Our core target is not the cryptophile trader who will go on trading platforms to buy / sell several times a week (and beware of these platforms: they do not meet the requirements of French regulations and therefore do not ensure the same protection of customers and their cryptos)

We rather address to the traditional investor who wants to place his savings by relying on a regulated and recognized company. Some of them are interested in how cryptocurrencies work, but others want above all benefit from financial performance that they generate without having to know the difference between a PoW (Proof of Work) and a PoS (Proof of Stake).

They are therefore rather people looking for advice and support based on our expertise.

Finally it’s a bit like when you take out life insurance : you define your level of risk but you are not necessarily going to try to understand the exact composition of the portfolio with the particularities of the actions that compose it. This is your banker’s job. You, as an investor, you mainly evaluate risk versus performance hoped for.

When looking at the cryptocurrency ecosystem there are many interesting projects to position ourselves on, but it is extremely time-consuming to analyze projects one by one. Our Research team does this analytical work and we make it available to our clients. This allows investors to benefit from more easily of these assets, without having to make the effort to master all the complexity of the domain.

So what are the different types of audience?

There is 5 different audiences who we are talking to:

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Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.

  1. That of 18-24 years old which represent the largest number of cryptophiles. It is a particular audience, which often seeks to “Make a move”, the famous “to the moon”, the “x10 overnight” therefore still new to risk and investment management.
  2. The 25-45 years, rather young, rather cryptophiles and who have a heritage under construction. They will have a much more reasoned approach, with investment horizons short term or medium term, over 6 months, 12 months or 18 months. They know how to switch from one platform to another but understand the difference between exchanges and brokers.
  3. The 45+ who have more income or already have assets. They know well traditional finance. They come looking in the crypto sector diversification of their portfolio for performance. They control the risks very well and will not invest more than 10% of their assets. They represent the highest amounts in absolute value because their investment capacities are greater.
  4. Asset managers have a problem with market traction because traditional products offer low yields. They are aware that to attract new customers and retain their existing customers, they will have to offer new products with higher returns. They are therefore increasingly interested in cryptocurrencies. On the other hand, they are extremely careful: if your business is not regulated they will never come to discuss with you.
  5. Companies, and in particular SMEs, may have cash to invest or are looking for investment opportunities. However, they do not always have satisfactory investment solutions. They are therefore also interested in these new products.

For these last 3 categories, the 45+, wealth managers and companies, it is obviously essential to be a regulated actor and perfectly aligned with French regulations: this is our greatest strength today.

So you also manage taxes and declarations, if I understand correctly?

No we do in no case of tax advice, nor support in tax declarations. It’s a profession in its own right.

However, we are working on reporting models such as investment reports to our Premium customers to make their investments easier to read.

Maybe I should have started there, but can you introduce yourself?

My name is Romain Saguy. I arrived at Coinhouse in early September as a Chief Revenue Officer (in French in traditional organizations it looks like Marketing and Sales Director).

So I take care of brand awareness Coinhouse, from the acquisition new customers, but also the customer relationship which is ensured by our sales teams and customer support. In other words, my job is to explain who we are, to make sure that you find us, if you look for us on the web, and that you have the best experience and the best possible support when you want to use our services .

However, this is not a new dive into cryptocurrency. I “fell into the pot” in 2017, just a little too late, that is to say in the middle of summer 2017, after the x30-40 Ethereum. It was the era of ICOs, the incredible bull run of late 2017 and the downfall that followed. In retrospect, it was a very good period to fully understand the interest and the problems of the ecosystem … and also an opportunity for good measure the risks what these assets represent.

Besides that, my professional career was built in Consulting, then at Google and at LesFurets. My primary area of ​​expertise is therefore more digital and e-commerce in general.

But how did you end up at Coinhouse?

It’s part of the luck that you have to seize at the right time: I had resigned from my position at LesFurets, at the same time a friend had contact with a head hunter who was looking for someone for Coinhouse and he referred him to me. So I met the team and followed the recruitment process.

Most of all, I think, excellent timing: Coinhouse was registered by the AMF at the start of the year, So we have legitimacy which is growing and we can explain to everyone who we are and what our added value is for individuals, for companies, for wealth management companies, etc.

Finally, what role does Coinhouse play vis-à-vis the WPO ICO?

We serve as a trusted third party platform to sequester cryptocurrency investments BTC (Bitcoin) and ETH (Ethereum) as part of the ICO (Initial Coin Offering) WPO.

Today if you want to invest in WPO in cryptocurrency, so you can place your funds in escrow at Coinhouse.

If the project comes to an end, you will have the WPO tokens that come back to you and you will have financed the project. If the project does not come to an end we will reimburse the investors.

The value of this system is to protect investors as much as possible from scams and fraudulent systems when collecting the corners.

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Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.

You now know all about Coinhouse and its vision in the ecosystem, great news is still likely to fall so follow Cryptocurrencies to be the first to hear about the developments. Following the next number…

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