The Korea Herald

피터빈트

BlockSquare Seoul helps crypto investors reduce risks

By Im Eun-byel

Published : Dec. 12, 2023 - 17:13

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Users of the company's charting tool service based in Japan are to hold a meeting in Tokyo on Dec. 17. (Im Se-jun / The Korea Herald) Users of the company's charting tool service based in Japan are to hold a meeting in Tokyo on Dec. 17. (Im Se-jun / The Korea Herald)

BlockSquare Seoul is working to strengthen its service lineup to support investors in mitigating risks and increasing profit in cryptocurrency trading.

The company provides charts which show the price fluctuation of major cryptocurrencies and assess risks, bid prices and liquidation attempts. The charting service, like the cryptocurrency market, operates on a 24-hour basis.

The charts further speculate future price movements by using data generated from real-time market monitoring. The charting tool, powered by an artificial intelligence algorithm, gives signals for buying and selling, optimizing the timing for transactions.

The platform's AI algorithm was trained by deep-learning on years of data, the company said.

Users make trading decisions based on the “long position” and “short position” signals. For more detailed future guidance, investors can refer to “L2” and “S2” signals, which show the projected level of price fluctuations.

BlockSquare Seoul plans to launch an automated trading bot service for crypto investing next year. While the previous model only offered automated buying for cryptocurrency, the upcoming model covers both buying and selling, maximizing profit while maintaining stability. The autobot service will transact both spot and futures trading for cryptocurrency.

The company’s tech team, consisting of about 20 experts, is divided into three parts: backend, front and data management. Its CTO Won Hyuk oversees the whole team while participating in backend development himself, as he sees backend development as the backbone of the crypto trading assistant service.

Like most other crypto-related companies, BlockSquare Seoul is heavily reliant on data storage, as it processes and generates large amounts of data. It uses Amazon Web Services, a cloud computing service offered by the US tech giant. According to Won, the company's data is stored at a data center in Virginia.

Won hopes that BlockSquare Seoul can later build its own data center for more thorough data protection, though the establishment of a data center may be costly.

BlockSquare Seoul also holds briefings on the latest cryptocurrency market trends through its YouTube channel to help investors navigate crypto trading.