September 19, 2018
Student Spotlight: Sophomore Jumps into Cryptocurrency Market
Cryptocurrency is one of the biggest up and coming assets in the tech world. It is no surprise that many Tepper School students have been quick to jump into work with blockchain technology. Using cryptography to secure financial transactions, cryptocurrency has changed a lot about personal finances in recent years.
Eric Jiang, a sophomore business administration student with a finance concentration in the Tepper School, has spent his summer working for KryptaPurchase, a company originally founded by two Syracuse University students. The group is currently breaking the entry barrier to the novel world of cryptocurrency.
KryptaPurchase started as a small idea to improve the current functionalities of cryptocurrency applications. The company’s vision is to make cryptocurrency investments easy and accessible for the everyday person. It has since expanded to employ students from various other colleges like Carnegie Mellon, and also Rensselaer Polytechnic Institute.
“KryptaPurchase is a new startup, so it offers me a strong growth opportunity, a versatile experience, and a motivating environment,” Jiang said. “I benefit from experiencing a wide variety of fields within business.”
KryptaPurchase features an online website where people can purchase various packages of cryptocurrency. Specifically, KryptaPurchase offers three distinct packages. Package 1 features equal quantities of the most popular coins: Bitcoin, Ethereum, Litecoin, and Bitcoin Cash. Package 2 offers more alternate and upcoming coins: Monero, Ripple, Dashcoin, and NXT. Package 3 utilizes a randomized algorithm to select four coins from a portfolio of assorted cryptocurrencies that carry a positive outlook in market trends.
“Cryptocurrency is a really new field that’s pushing the boundaries of technology,” Jiang said. “I am particularly interested in the financial aspect of cryptocurrencies and have enjoyed following the daily news and how the prices of the major coins are affected.”
Each package can be purchased from the online site at a specific level ranging from Silver to Krypton. The Silver package offers $50 worth of cryptocurrency while the Krypton package offers $1,750 worth of cryptocurrency. The process of choosing which kind, and how much cryptocurrency to buy simplifies the process for customers not as familiar with cryptocurrency.
The digital technology behind cryptocurrencies is complex and still evolving so as a result, KryptaPurchase does the work so that anyone can choose to get involved by investing in the future.
“It has concrete results. So far I have committed to a financial pricing model and industry analysis to improve KryptaPurchase’s margins and competitive edge over other companies,” Jiang said. “I have also worked on marketing projects and have contributed to KryptaPurchase being featured in multiple New Jersey newspaper articles.”
In addition to all of the new developments within the company, KryptaPurchase is creating a mobile application set to release this fall. This application will be featured on Apple’s IOS store and the Google Play store. It holds personalized accounts that can track buyers’ coins and offers real time updates on how each performs. This new technology allows for increased convenience and ease when following investments and planning future trades.
Jiang feels that during his first year at the Tepper School, he had a much better chance to learn the ins and outs of the business world, specifically finance.
“My freshman year at Tepper gave me a strong introduction to business as a whole,” Jiang said. “My clubs, Tartan Student Fund and Investment Banking Academy, helped specialize me in fields such as finance. These gave me a strong background while working at KryptaPurchase.”
The KryptaPurchase team is excited to continue on their progress and bring their innovations to the local community of Hillsborough, NJ, as well as to America as a whole.