Leverage crypto trading: Exclusive interview with Overbit CEO

6 min read

Read fresh thoughts of Overbit CEO, Chieh Liu and learn about hot topics he shares regarding crypto trading and markets.

Could you share with us why Overbit was founded?

Overbit was founded in 2018 and we have been serving the best trading experience for all types of traders as our goal since day one.

Overbit.com is a bitcoin margin trading platform launched in 2019 which allows users to perform cross-market leverage trading in crypto, forex and commodities. In 2022, we added two new portfolios to the platform – bot and copy trading due to the overwhelming interest from its traders. We offer a simple trading experience to the users who can use Bitcoin as the underlying asset to trade against crypto, forex and metals with leverage.

I was born in Taiwan and relocated to the United States. While studying computer science in college, I stumbled across Bitcoin and cryptocurrency around 2014. I started to invest and mine Bitcoin ever since. I realized that the emergence of blockchain and crypto had a high potential to revolutionize the digital finance market and gain mass adoption. Hence, I started to become heavily involved in crypto at the end of 2016.

Back in late 2018, almost all of the crypto margin trading platforms’ interfaces were too complex and they were designed for professional traders. However, over 50% of traders are less than 34 years old and over 80% have less than 3 years of trading experience hence we saw the need to design a platform for beginners.

With that mission in mind, Overbit only offers the most popular and straightforward contract, that is, perpetual swap, to the users. Nothing fancy, just easy trading for those who are interested in venturing into this space. Our goal is to provide the best trading experience while keeping the platform simple and easy to use. Users can also practice trading on our Demo Trader, which provides 8 virtual Bitcoin or 50,000 USDT for everyone who wants to practice a trade.

New retail traders’ typical problems a few years ago or even today are similar. The majority of traders are most likely not familiar with trading and risk management. We make sure traders in Overbit can eliminate all the uncertainties and give themselves the best chance to make profits through trading.

What challenge is your company/project trying to solve?

Currently, we have just released Copy Trading as a new feature. Copy Trading can be a double-edged sword, as we need to make sure the followers are aware of the risks behind it. Therefore it is important for us to ensure that the set-up and configuration for both Copy Trading providers and followers are well established before the launch.

Moving along, cryptocurrency and blockchain technologies are complex topics and Overbit is and always will be providing easy-to-use, secure, and flawless trading solutions. We want to make it so simple for everyone to be able to do leverage trading by simply clicking a few buttons with an ultra user-friendly UI. We want to let crypto lovers know that trading with margin isn’t difficult at all because it bogs down to the fundamentals of whether you have chosen the right platform or not.

Overbit is serious and focuses on helping novice traders to onboard marginal trading easily, and we have been doing this since day one of operations. We understand that when it comes to novice traders, the majority are not familiar with sending bitcoin, trading, and risk management. In Overbit we have in-depth help guides, 24-7 customer service support and free demo accounts to make sure that everyone understands all the functions, methods and risks.
Cryptocurrency is gaining a lot of attention right now with the institutions leading the way, there are always newcomers to the crypto space, and Overbit is making sure whoever in any time will always be well taken care of.

Overbit easy-to-use user interface

Overbit is positioned as a derivatives trading platform. Why have you chosen this way of trading instead of the traditional financial instruments?

Derivatives are the most popular trading instruments in either traditional or crypto markets; they could leverage your assets to maximize profits. Derivatives are the most popular instruments in the financial markets.

The same can be said about crypto markets, as they are effective hedges in correspondence with their respective underlying assets. At the same time, traders’ speculations are driven by the potential of high risk and rewards with various derivatives instruments. It was a natural decision to develop a margin trading platform. This is especially true in crypto which is always in a volatile market. Therefore it is always good to plan your strategies with derivatives.

There are a lot of crypto exchanges today so what makes Overbit unique?

There are so many exchanges out there, and instead of being unique, what is more important is for us to listen to our community and provide the instruments they are looking for.

In the past years, we have seen more professional traders coming into Overbit and want to share their methods of trading, that is why we have implemented Copy Trading and MetaTrader 5 into the Overbit platform.

I read in the news about Overbit’s latest launch on MetaTrader 5 (MT5). Why is Overbit introducing MT5 to its traders?

As our users increase and become mature, we have heard them asking for more professional and technical tools to allow them to dive deeper into their strategies and for them to share their algorithms.

Metaquotes have been providing excellent trading tools to everyone around the globe for decades, and it is perfectly suited for Overbit to extend our traders’ abilities with these tools.

What are your thoughts on Copy Trading and what are the advantages for traders who choose Copy Trading?

Copy-trading gives a great opportunity for both the follower and provider. Providers with great trading strategies who would also like to earn passive incomes while doing what they have been doing daily can’t unsee this great feature.
It doesn’t only allow them to earn extra money but to build strong trading communities for themselves.
As for followers, we like to follow the professionals and let them do the job. However, we can’t just go in blind and not know the risks behind them, hence it is important to choose providers who manage their risks wisely.

In your experience, who can qualify as Copy Traders and why should they become one?

Everyone is eligible to become a copy trader provider. However, in Overbit, we allow everyone to see the providers’ performance from the start to the end and obviously no one would like to follow someone who has lousy ROI.
Therefore, people who have years of trading experience and great strategies should become providers.

What are your biggest challenges when building Overbit?

Security. Not only do we need to be on top of our system and to make sure there are no hacking or bug penetrations, but we also need to be vigilant on risk management when hedging different currencies.

What do you think of the current bear market and do you think we will ever come out of this muted state?

Given that the crypto market is generally volatile and fluctuates on a daily basis, the bear market is not a first in crypto. A classic example is the famous crypto crash in December 2017, when investors saw Bitcoin fall from $20,000 to $3,200 over the course of a few days.

Everything that goes up will need to come down and this is the same for crypto. There’s no way of telling how long a bear market will last, especially if it’s driven by recession or similar circumstances but in the midst of a bear market.

Looking at BTC and ETH, the support levels should stay at $20,000 and $1,000 respectively. In fact, looking at the weekly RSI is actually lower than the bear market in Dec 2018, hence this is a great buying opportunity.

Investors and corporations are investing in the bear market. Even though it does involve more risk with low to zero confidence in crypto, but this risk also comes with the possibility of higher returns in the future especially when we exit from this bear market.

How transparent are costs and transaction fees in Overbit?

Overbit is very transparent when it comes to its fees. We introduced a switch that allows traders to choose between fees or spreads before opening a position.

If you are interested to read more about this, please visit our Help centre.

How are security issues taken into account compared to other trading platforms?

Security is paramount at Overbit and we offer military-grade security to traders. Every platform has its vulnerability and hackers love to take advantage of it. We have seen many crypto exchanges get hacked and some of them were able to cover the losses, some are unfortunate and have lost millions in funds. Our core developers are also white hackers, we do vulnerability tests periodically, to make sure the system, wallet, and connections are not penetrated.

Where Overbit is going to be after 5 years?

I think in crypto, 5 years is a long stretch of time. Our vision is to simply provide the best trading experience to everyone. Traders should not be worried about security, stability and practicality while using Overbit and that is what we want to achieve in the long term.

Why should a crypto investor consider becoming an affiliate for Overbit?

Who wouldn’t want to earn BTC every day as an Overbit affiliate because affiliates will earn a two-tier commission structure.

You will receive a percentage of commission paid by your referrals down to 2 tiers. When users click your link, they have 7 days to register and become affiliated with your campaign. The affiliate payments will continue indefinitely as long as you and your referred user(s) own and operate their Overbit account(s).

*T&C apply
For more info:

Social Media Channels:
Twitter: https://twitter.com/officialoverbit/
Facebook: https://www.facebook.com/Overbit1/
Telegram: https://t.me/OfficialOverbit
Reddit: https://www.reddit.com/r/Overbit/
LinkedIn: https://www.linkedin.com/company/overbit/
Instagram: https://www.instagram.com/officialoverbit/
Youtube: https://www.youtube.com/channel/UClt81V91NPD12ENliF9FOBQ/
Blog: https://blog.overbit.com/en/

About Chieh Liu – CEO
LinkedIn: https://www.linkedin.com/in/chieh-liu-07290b157/?originalSubdomain=hk
Twitter: @cl_overbit
Telegram: @chiehliu

Chieh Liu developed a strong interest in blockchain and cryptocurrency while he was studying computer science at California State Polytechnic University in 2011.

After graduating, he worked as an advisor for several financial investment firms across several Asian markets for almost a decade. As an avid forex and crypto trader, Chieh realized that there was a gap when it came to trading across the various financial markets.

Chieh founded Overbit in 2017 and launched it in 2019 to become the world’s first cross-market trading platform.



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