We talked to Michael Kuchar of TradingBeasts about cryptocurrencies and here is what he said about it.
First of all, how are you and your family doing in these COVID-19 times?
Michael Kuchar: We are all staying safe, and luckily no one from my close family has any job issues. So I would say we are staying on the good side of things.
Tell us about you, your career, how you founded TradingBeasts.
Michael Kuchar: I have founded TradingBeasts.com, a popular trading educational portal, back in 2016. Before that, I founded a couple of other trading-oriented websites in my native language – Czech. The decision to create TradingBeasts became an obvious choice for me when I realized how much limited I am if my content is understood only by Czech-speaking visitors. First, TradingBeasts focused only on content related to binary options and forex; today, we also cover cryptocurrencies, stocks as well as spread betting, all that in 5 languages.
How does TradingBeasts innovate?
Michael Kuchar: We focus on content that is very current, and people want to hear about. That means when the first big crypto boom started, we already provided to our visitors live cryptocurrency prices as well as crypto predictions and crypto oriented trading guides. If you have content before people even search for it, there is a great chance Google will place you at first positions once the interest of people booms.
Now, with Elon Musk and other big figures promoting Bitcoin and other coins, our traffic is again reaching never-hit numbers before again.
How the coronavirus pandemic affects your business, and how are you coping?
Michael Kuchar: There were only about 2 months during the coronavirus pandemic when traders were really afraid to invest, and we, therefore, made low profits. With that being said, we now have better results with our site than ever. Traders are no longer afraid and want to take advantage of the whole situation that has been going on in the market.
Did you have to make difficult choices, and what are the lessons learned?
Michael Kuchar: Every business has to make difficult choices to make it on the market tho ours are not anyhow related to the Covid-19 pandemic. Our biggest choice was regarding the expansion of our site to other languages and GEOs. The fact that we are popular in English did not mean by any means that we will also be popular in other countries where we have to face local competitors. What I have noticed during the expansion of our site is that an English portal has a better chance in languages like Dutch or German and, for instance, a website in Czech has a better chance in Hungarian or Polish language (and of course, a Spanish-based website has the edge in Portuguese).
Who are your competitors? And how do you plan to stay in the game?
Michael Kuchar: Our main competitors are atm sites that provide broker reviews, trading guides, and crypto price predictions. In English, there are too many to count them, so while we do monitor them, we primarily focus on our site and the expansion of our business. We want to stay current as much as possible so we could serve our readers content that no one even knew everyone would be searching for today.
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