Shauli Zacks
Published on: March 12, 2024
Introducing Mat Preziotte, co-founder at Cryptocurrency Alerting, whose journey into the world of crypto began with a childhood passion for coding and web development. Inspired by Ethereum’s smart contract technology, Mat’s interest in finance merged with his fascination for cryptocurrencies, leading to the creation of an innovative alerting platform. In this exclusive interview with SafetyDetectives, Mat shares insights into the platform’s key features, the significance of crypto alerts in today’s market, and offers valuable advice for newcomers venturing into cryptocurrency investment.
Can you talk about your background and what led you to co-found Cryptocurrency Alerting?
Hi there, my name is Mat Preziotte. I grew up with a strong fascination for video games, which led me to teach myself coding to create a website dedicated to video games during my middle school years. This was a time before the prevalence of blogs and YouTube, and making fan sites was a common endeavor for enthusiasts like me. The process of designing websites captivated me, guiding me towards a career in web development.
Fast forward to 2017, I discovered Ethereum, a cryptocurrency that introduced the concept of smart contracts—pieces of code executed on the blockchain triggered by transactions. This concept intrigued me, not just for its technological novelty but also for its potential impact on the development and finance sectors. My interest in cryptocurrency deepened, coinciding with my growing curiosity about finance. Collaborating with a coworker seeking to explore side projects, we brainstormed ideas within the crypto realm. Our efforts culminated in the creation of an alerting platform, conceived from a lengthy list of potential projects. We aimed to offer a service that provided real value by keeping users informed without the constant need to consult various dashboards.
What are the key features of your platform?
Our platform’s mission is to provide comprehensive monitoring of the crypto space through a single application, a goal we have pursued for over six years. Cryptocurrency distinguishes itself from traditional finance by the diversity of its data sources, which encompasses not only market and price data but also on-chain metrics such as transaction fees and the movements of significant holders, known as whales.
Our platform’s standout features is the alert system, which includes standard price alerts, exchange listing notifications, and on-chain wallet monitoring. Exchange listing alerts are particularly notable because they signify market endorsement and liquidity enhancement for new tokens. Wallet monitoring alerts offer immediate notifications for transactions involving specified addresses, serving both as a transaction verification tool and a means to observe the activities of specific wallets.
Can you explain the importance of cryptocurrency alerts in today’s market environment?
The 24/7, global nature of the cryptocurrency market makes timely alerts critical. Unlike traditional markets, crypto trading doesn’t pause, with significant activity occurring across various time zones. Many of our users prefer alerts that can wake them, such as phone calls, to ensure they don’t miss crucial market movements. The sheer volume of information and events to monitor necessitates an alert system capable of notifying users of significant occurrences without the need for constant, direct observation.
Can users customize their alerts based on specific criteria, such as price thresholds, volume changes, or news events?
While we have chosen not to incorporate news alerts due to the complexity and reliability of sourcing accurate information, our platform allows for extensive customization across other metrics. Users can set alerts for price changes, volume fluctuations, and more, with a variety of parameters to suit their specific needs. We offer a wide range of alert types, including volatility alerts with customizable thresholds and real-time integration with numerous crypto exchanges, enabling users to monitor assets and exchanges of interest closely. Users can then select from nine different methods to receive notifications, including push notifications, slack messages and webhook events.
What challenges have you faced in building and scaling your platform, and how have you overcome them?
One of the primary challenges has been managing latency to ensure timely alerts, a crucial aspect of our service given the fast-paced nature of the crypto market. Our backend architecture is designed to handle traffic surges efficiently, minimizing delays. Another challenge is sustaining motivation and innovation during periods of low market activity. With a small team, we’ve focused on carefully selecting our development projects based on user feedback, ensuring our efforts align with user needs and market demand.
What advice would you give to someone new to cryptocurrency and looking to start investing?
I strongly advise newcomers to conduct thorough research and make informed decisions independently. Avoiding leverage trading and not investing more than you can afford to lose are prudent practices. It’s essential to approach investing with a critical mindset, acknowledging the inherent uncertainties and volatility of the cryptocurrency market. Effective risk management and a healthy dose of skepticism can safeguard against overconfidence and potential losses.
