Hello, Satoshi clubbers Another AMA took place in Satoshi Club and we would like to introduce to you the AMA session with our friends from BitStore and our guest was . The AMA took place on the 26th of January<\/p>\n\n\n\n
The AMA session was divided into 3 parts with a total crypto reward pool of $500<\/p>\n\n\n\n
In this AMA Recap, we will try to summarise the most interesting points for you.<\/p>\n\n\n\n
Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Hello Satoshi Club!\nWe are happy to announce our AMA session with BitStore! Welcome to Satoshi Club<\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n Hello again, dear Satoshi Club community!<\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n Today our guest is @CarlMoss09<\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n Hello and welcome to Satoshi Club @CarlMoss09<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Hello Satoshi Club!\nWe are happy to announce our AMA session with BitStore! Welcome to Satoshi Club<\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n Hello again, dear Satoshi Club community!<\/p>\n\n\n\n Today our guest is @CarlMoss09<\/p>\n\n\n\n Hello and welcome to Satoshi Club @CarlMoss09 .Finally you\nare with us<\/p>\n\n\n\n Carl Moss<\/strong><\/p>\n\n\n\n Hello everyone! It’s a real pleasure to be here and interact\nwith everybody!<\/p>\n\n\n\n Apologies for the delay; met up with some technical issues\nand was not able to message.<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Np, we are happy to see you here <\/p>\n\n\n\n Carl Moss<\/strong><\/p>\n\n\n\n Very excited for all the questions you guys have for me. i\nhope to be able to share more with you what we do here at Bit.Store<\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n We are very excited about the upcoming AMA with you<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Let’s start it. sure it will be fantastic!<\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n Will make a short intro of yourself and the project please<\/p>\n\n\n\n Carl Moss<\/strong><\/p>\n\n\n\n Sure!<\/p>\n\n\n\n My name is Carl and I’m a Co-founder of Bit.Store ($STORE).<\/p>\n\n\n\n Bit.Store is an investment platform built for traders new to\nthe complex crypto market. Bit.Store further integrates SocialFi elements into\nour platform, allowing experienced traders to guide junior investors along\ntheir investment journey as well as allowing STORE holders to vote for overall\nkey directions of the platform.<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Why did you take a decision to found investment platform?\nDid you have previous experience in investments?<\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n You help beginners become whales <\/p>\n\n\n\n Carl Moss<\/strong><\/p>\n\n\n\n The Bit.Store team and myself come from the traditional\nfinance space with decades of experience in the capital markets. Crypto was a\nnatural direction for me to pivot to as I wholeheartedly believe\ndecentralization will bring financial services to greater heights.<\/p>\n\n\n\n However, when I first entered the crypto market and begun\nusing crypto exchanges, i was shocked at its complexities, from private\/public\nkeys, to stablecoin and numerous trading pairs. My team and i knew that we had\nto lower the barrier of entry to crypto investment to help everyone, no matter\nnovice or experienced investors, get into this space as easily as possible.<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n You’re right! I am happy that you are trying to make our\nlifes easier! And i think it’s time to introduce your team,\ntell us please how big is it? Is it international or located in one place?<\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n By the way tell us about your team, who is the core of the\nproject?<\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n Oops<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Same thoughts <\/p>\n\n\n\n Carl Moss<\/strong><\/p>\n\n\n\n Great minds think alike!<\/p>\n\n\n\n Carl Moss<\/strong><\/p>\n\n\n\n Our core team members sits across the world to cover the key\nregions – each of us bringing over 10-20 years of experience in finance,\nproducts and business development. Our core team members sit across Europe,\nCanada and Columbia – myself, i come from the UK <\/p>\n\n\n\n My co-founder David, has over 10 years in project management\nand holds a PHD in management. While Catalina, our marketing guru comes from\nthe investment banking and finance sectors.<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Excellent team! <\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n Thanks for great introduction, we will have several\nquestions selected for the Part 1. Ready to start?<\/p>\n\n\n\n Carl Moss<\/strong><\/p>\n\n\n\n Fire away – let’s roll!<\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n Q1 from Telegram user\u00a0\u00a0 @Asela1112<\/em><\/p>\n\n\n\n I learnt that BitStore App is suitable for new & Junior investors. But, Since the current market is at unpredictable situation due to huge market crash. So How will you encourage the newbie investors to invest their money on BTC & make them profit? We all know that the world best exchange is Binance exchange currently. So what kind of unique features do you have rather than Binance? Do you have buying options like P2P, Credit\/Debit card, Bank transferring etc..?<\/em><\/p>\n\n\n\n Carl Moss<\/strong><\/p>\n\n\n\n Thank you @asela1112 for your question to kick off the AMA!<\/p>\n\n\n\n This is a great question which i believe plenty of\ninvestors, especially those newer in our market, has a lot of doubts on. As you\nsaid, the crypto market is unpredictable and its practically impossible to time\nthe market even if you are a saavy technical analyst. Bit.Store is designed to\nmake it easy for junior investors by incorporating features such as recurring\nbuys option so that users can automatically DCA (dollar cost average) into the\nmarket; all while having access to timely curated market news and getting\naccess to tips and advice from senior traders with solid track record. <\/p>\n\n\n\n With regards to other exchanges such as Binance, we are not\ncompetitors. In fact, we are peers! We secure our crypto assets liquidity from\ntop exchanges such as Binance to provide to our users. We are here to serve the\nunderserved investors who want to begin buying crypto but are unable to due to\nthe complexities of crypto exchanges as i mentioned earlier. Exchanges are\nmostly targeting experienced traders as well as institutions that we\nwell-versed with trading features such as margin or futures trading.<\/p>\n\n\n\n In terms of payments, we certainly excel over most, if not\nall, exchanges. We offer a whole suite of options ranging from card payments,\npaypal, mobile wallets and bank transfers. Of course, the payment channels\navailable ranges from markets to markets. <\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n Thank you very much for the detailed answer<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n So many methods! That’s awesome! It will be really easy to\nstart with BitStore<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Is KYC verification compulsory to start using your platform?<\/p>\n\n\n\n Carl Moss<\/strong><\/p>\n\n\n\n We have different levels of KYC, ranging from as simple as\nan email to begin trading to identification verification for larger trade sums.\nWe do KYC in order to combat money laundering as well as preventing illicit\nfunds movement on our platform.<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Gotcha <\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n Are you ready for the next question?<\/p>\n\n\n\n Carl Moss<\/strong><\/p>\n\n\n\n Yes!<\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n Q2 from Telegram user\u00a0\u00a0 @V1ct0r_26<\/em><\/p>\n\n\n\n Hello, BitStore\u2019s Team!<\/em><\/p>\n\n\n\n While reading your whitepaper, I saw that users on the platform will be classifed into two types of users: Beginner Investors and Signal Traders. I was wondering if you could tell us more about this last type of users? What exactly means to be a Signal Trader and how does a user become one? Do you ask for any kind of information to BitStore users before trusting in them as professional investors? If so, what kind of information is required and how do you verify it\u2019s truthfulness? Are there any kind of rewards for those professional investors on BitStore that act as Signal Traders and share with others their portfolios? Thanks.<\/em><\/p>\n\n\n\n Carl Moss<\/strong><\/p>\n\n\n\n Anyone can become signal traders as we aim to be a truly\nopen platform where anyone can participate. However, there will be key metrics\nof these investors that novice investors can use to discern if these signal\ninvestors are worth following. Some examples of these metrics include,\nportfolio performance, market projections posted by them as well as verified\npublic profiles. These information are recorded by our system and cannot be\nedited. Furthermore, the system will encrypt these data regularly to be\nuploaded onto the blockchain.<\/p>\n\n\n\n To incentivise signal traders, firstly, they will receive\nincentives from the platform for posting projections and advices especially if\nthey pan out to be accurate. Secondly, they will also receive a commission from\nthe trades of investors who frollow their signal.<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n I like this system! Hope our members will join Signal\nTraders<\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n Well, that’s logical enough.<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Thank you for your answers! Ready to go to the next\nquestion?<\/p>\n\n\n\n Carl Moss<\/strong><\/p>\n\n\n\n yup!<\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n Q3 from Telegram User\u00a0\u00a0 @Arisabela<\/em><\/p>\n\n\n\n It has recently been in the news that Bit.Store has received investors like the Blockchain Infrastructure Alliance\u2019s with a lot of crypto projects, including Algorand, Near and Polygon, could you tell us if these investors will have a part in the technological growth of your platform? How would Bit.Store benefit from these funds? And above all, what benefits will there be for the community?<\/em><\/p>\n\n\n\n Carl Moss<\/strong><\/p>\n\n\n\n Bit.Store benefits from a huge variety of benefits by having\na strategic investors such as Blockchain Infrastructure Alliance!<\/p>\n\n\n\n In addition to having additional capital that will\naccelerate our growth, both in-markets and global expansion, having BIA as a\nstrategic investor mean that their members – which are top crypto projects as\nyou mentioned – will be supporting us on three fronts:<\/p>\n\n\n\n 1) Business Expansion – these partners hail from all across\nthe globe and are able to advise us or provide us with networking opportunities\nthat help us significantly on our expansion plans. An example would be\nconnecting us to partners that would like to use our investment APIs to build\ncrypto investment services onto their own solutions. Another good examples\nwould be guiding us on how to navigate the ever evolving regulatory landscape! <\/p>\n\n\n\n 2) Payment Channels – In order for us to make crypto\ninvestment more easily accessible, we need to make sure that our users can use\nthe payment channels that they have and are familiar with. One of our key\npartner, Alchemy Pay – a leading payment crypto project, provides us with\nnumerous fiat payment channels to help us connect with our users, no matter\nwhere they are at. <\/p>\n\n\n\n 3) Marketing – These partners are well-versed and\nexperienced in marketing tactics in the cryptoverse. Not only do they guide us\non how to market ourselves better in this sector, they also help to promote\nBit.Store amongst their communities which brings plenty of users onto our\nplatform!<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Where we can find the full list of your investors and\npartners?<\/p>\n\n\n\n Carl Moss<\/strong><\/p>\n\n\n\n We are about to update our website with this information!\nKeep a look out on www.bit.store for this <\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n Thanks for your great answers<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Thank you! We will follow your updates <\/p>\n\n\n\n Ready to jump to the next question?<\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n Ready to proceed to the next question?<\/p>\n\n\n\n Carl Moss<\/strong><\/p>\n\n\n\n Yup\uff01<\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n Q4 from Telegram User @Z0ryan<\/em><\/p>\n\n\n\n I downloaded \u0410pp for online cryptocurrency investment from your site. It looks quite usable. I noticed that there is a referral program. I\u2019d like to know more about it.And also explain how I can buy cryptocurrency using VISA and MasterCard in this app? I also noticed that there is no support for my language. Do you plan to expand spheres of influence in Europe? If yes, when will it happen?<\/em><\/p>\n\n\n\n Carl Moss<\/strong><\/p>\n\n\n\n Ah.. I’m glad you like it! We place a lot of focus on\nenhancing our app to provide great user experience – both aesthetics and\nfunctionalities.<\/p>\n\n\n\n We have a strong referral program whereby there varied\nbonuses – such as invitation bonus and commission bonus. A referrer will get\nthe invitation bonus upon a new sign-up and continue to receive commission\nbonus for all assets purchased by the invited friend!<\/p>\n\n\n\n In the future, users can further stake $STORE to unlock even\ngreater rewards! For instance, after staking STORE and inviting 50 friends, the\nuser can buy their next Bitcoin or Ethereum at a massive discount from\nprevailing market price!<\/p>\n\n\n\n The purchase of crypto with cards is very straight forward,\nsimply key in the amount you would like to purchase, provide your card details\nas you would while shopping online and voila – you are now a proud owner of\ncrypto-assets!<\/p>\n\n\n\n We are going to expand rapidly in 2022, especially with the support of BIA and its amazing members. Do keep a lookout for our Twitter as we will release more information on our expansion plans <\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n We definitely will keep an eye on your social media <\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Thank you for detailed answer! Ready for the next question? <\/p>\n\n\n\n Carl Moss<\/strong><\/p>\n\n\n\n Absolutely!<\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n My friend’s girlfriend once wanted to order sushi and bought\ncryptocurrency in a similar app <\/p>\n\n\n\n @ciupidos<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Lol ,now she is holder<\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n Q5 from Telegram User @ghostofcharmeleon<\/em><\/p>\n\n\n\n Hello, the Bit.store team.<\/em><\/p>\n\n\n\n After studying your tokenomics, I saw quite standard crypto cases, but an interesting point can also be highlighted. For example, rewarding crypto professionals for their information products is cool. But sometimes projects also use such a tool as buyback and token burning to reduce the total amount of supply and increase the value of the remaining tokens. Do you plan to use them in the future? If there are no such plans at the moment, can the DAO make such a proposal and how will it be met by the team?<\/em><\/p>\n\n\n\n Carl Moss<\/strong><\/p>\n\n\n\n That’s the kind of experience we want to provide! Our\naforementioned investment APIs allows other service providers to enable crypto\ninvestment easily<\/p>\n\n\n\n Carl Moss<\/strong><\/p>\n\n\n\n Certainly! Bit.Store currently allows STORE holders to vote\non key decisions. We intend to progress towards DAO – we built Bit.Store for\nthe community and want it to become a platform with this motto “made by\ncommunity, for the community”.<\/p>\n\n\n\n In terms of reducing the supply of STORE there could be a\nnumber of ways which will work absolutely great such as burning fee income,\nintroducing lottery system where a portion of the prize pool is automatically\nburnt. However, we will leave this to our community to decide!<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Do you have any active proposals in this direction?<\/p>\n\n\n\n Carl Moss<\/strong><\/p>\n\n\n\n We do but have to proceed very carefully as our lawyers have\nadvised token burning (especially of revenue\/income streams) can cause the\ntoken to be perceived as security. We will continue to find ways, through legal\nconsultation or seeking advice from BIA, to ensure that we can continue to\nbring value to our users and investors.<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Sure, everything should be legal <\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Thank you for your answers! Ready for the 6th and last\nquestion from this part?<\/p>\n\n\n\n Carl Moss<\/strong><\/p>\n\n\n\n Lets go!<\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n Thanks for your great answers <\/p>\n\n\n\n Gold Rocket | Satoshi Club<\/strong><\/p>\n\n\n\n Q6 from Telegram User @Meta_MateX<\/em><\/p>\n\n\n\n Personally, I strongly support your mission on helping the world diversify and grow their portfolio with cryptocurrencies. And the main advantage here will be a simplicity to buy crypto in just a few seconds in any corner of the world. However, there\u2019re many countries (and their list is increasing) where it is not possible to buy crypto with bank cards or, moreover, the use of crypto is banned. What solutions can you suggest your potential users who is not able to join Bit.store? Are you planning to work with officials to promote your project and crypto in general? Thank you!<\/em><\/p>\n\n\n\n Carl Moss<\/strong><\/p>\n\n\n\n This is a fantastic question!<\/p>\n\n\n\n This is the reason why Bit.Store places a great deal of\nemphasis on regulations. We have a team of lawyers and compliance officers as\nwell as external advisors to help us on this end.<\/p>\n\n\n\n It certainly helps that the founding members of Bit.Store\nholds decades of experience in the highly regulated financial sectors which\nhelps us navigate regulations as well as seek out for legitimate payment\nchannels that are willing to support crypto investing. <\/p>\n\n\n\n We have held conversations with government officials to\nfigure out as well as provide guidance in terms of how regulations should shape\nup in a way that we can combat money laundering or crypto used for illicit\ntransactions without obstructing the value that crypto brings to their citizens\nand corporations.<\/p>\n\n\n\n Mary | Satoshi Club<\/strong><\/p>\n\n\n\n Thank you for your answers! Before we will go to the most\nexciting part of our AMA – live part we would like you to share your social\nmedia links with our community , so we will always stay updated\nabout your latest news <\/p>\n\n\n\n Carl Moss<\/strong><\/p>\n\n\n\n Twitter: https:\/\/twitter.com\/www_bit_store<\/a><\/p>\n\n\n\n Telegram Official: https:\/\/t.me\/Bitstore_official<\/a><\/p>\n\n\n\n