From a chemist to cryptoinvest fund directors: interview with Bitsonar CEO Marius Ziubka

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Marius Ziubka is the CEO of the investment cryptocurrency fund Bitsonar.Marius joined the fund as a consultant, then bought out a stake and became CEO.

In an interview with ForkLog, Marius Ziubka told how he turned a family fund into an international company and how Bitsonar makes money.

Disclaimer:ForkLog is not responsible for the investment decisions of readers.

ForkLog: How did you learn to manage a business?

Marius:I received my bachelor's degree in chemistry fromKaunas University of Technology, but then I realized that chemistry is not my thing. Therefore, I decided to retrain and received a master's degree in international business management.

FL: Did studying help you build a career?

Marius:Studying at the university provided a theoretical basis, butthis turned out to be not enough. I worked in different companies for 15 years and realized that business is highly dependent on external circumstances. The owner may lose business due to amendments to the law, a new government decision, or problems in the economy. I wanted to do something independent and stable.

FL: And why are you interested in cryptocurrency?

Marius:Yes.A few years ago, I heard about cryptocurrency and noticed how businesses were paying attention to blockchain technology and tokens. I became interested and started attending crypto conferences and events. There I met the founders of Bitsonar.

FL: Can you talk about the founding of Bitsonar?

Marius:In mid-2018 I was on one ofevents at the Estonian Embassy. There, the lawyer with whom I collaborated approached me and introduced me to four programmers. I remember him saying, “They have an incredible product, you should see it.” This was Bitsonar: a family foundation with a capital of $200 thousand and four employees.

We discussed the potential of the fund, they talked aboutprogramming keys, I asked about the competitive advantages and the market for their product. It was clear that they needed a manager to organize activities. I was offered to become a managing consultant and I agreed.

FL: How did it happen that you became a CEO?

Marius:I worked as a managing consultantand did not yet know how ready the product was and whether it was possible to enter the market. I was looking for someone who would understand trading algorithms and help improve the product. I was lucky: at one of the crypto conferences, the marketing manager of the EXMO exchange introduced me to Pavel Lerner. I invited him to look at our product and tell me what he thought.

Pavel became interested in the foundation and soon becameConsultant Analyst Bitsonar. He made some improvements and we launched the product. When the fund began to make a profit, I bought out a stake in the company and became CEO.

FL: And how did the Bitsonar end up?

Marius:Bitsonar is a trust funddigital assets. The fund is engaged in algorithmic trading: analysts monitor the situation and write trading bots, the bots trade, and investors make profits.

Since 2018, the fund has grown. Bitsonar started with $ 200 thousand, and now the investment pool is $ 15.5 million. We have 108 full-time employees from 48 countries, we also work with contractors and freelancers.

We improve trade, hold promotions and contests. On January 17, at the request of investors, they updated their personal account, simplified the design. This year we plan to launch a mobile application.

FL: But it is generally accepted that cryptocurrency volatility only increases risks.

Marius:Let me remind you that trading is carried out by bots.They don't panic during volatility spikes, which helps reduce risks. Trading is monitored by analysts who change trading strategies depending on the situation.

It happens that strong movement occurs only onone exchange. Therefore, we distribute investor funds between ten trading floors and in each transaction we risk only a small part of the deposit.

FL: How do trading bots work?

Marius:Analysts study large amounts of data:prices, volumes, number of mentions about cryptocurrency on Twitter and much more. Based on this data, analysts build trading models and write bots for them. We have bots for different market situations.

We also use artificial intelligence: bots automatically analyze losing trades and learn from the mistakes of others. Therefore, the effectiveness of trading increases over time.

FL: How does Bitsonar make money?

Marius:We take 25% commission on profits.We use part of the money for competitions and promotions. For example, on Black Friday 2019 we gave away a Mercedes or 20 BTC to investors, and on March 17 we will give away an Audemar Piguet watch or 10 BTC.

FL: What are Bitsonar's goals this year?

Marius:Bitsonar's main goal is to enter new markets.We plan to attract investors from China and South America and open representative offices in London, Paris, Moscow, Hong Kong, Singapore, Dubai and Guangzhou. We want to build local communities around our representative offices.

The financial goal is to increase the investment pool to $ 25 million. For December 2019, we received a $ 3 million investment. If the pace of investment continues to grow, then by 2021 we will be able to increase the pool to $ 50 million.

ForkLog previously published an interview with Pavel Lerner and Otokar Kasinets.