Have you heard of bitcoin? Do you know anything about Cryptocurrency? What is blockchain technology? Do you want to know more? If yes, then join Herts Review as we get an overview from an expert in the industry - Dan Da Rosa, the CEO of EZCAMG Ltd.
EZCAMG (EntryZone Crypto Asset Management Group) Ltd, is a leading blockchain and cryptocurrency investment and trading firm based in the UK with global aspirations. The company through its Estonia business, ECAM OU is registered and licenced by the Estonian Financial Intelligence Unit (FIU) as an activity virtual currency exchange service (Licence no. FVR001492) and activity virtual currency wallet service (Licence no. FVK001372). This allows the firm to exchange cryptocurrency for another cryptocurrency or cryptocurrency for FIAT (which is money such as Sterling, Euros or Dollars). Cryptocurrency use, trading and investment is currently not regulated in the UK. However, there are a handful of countries throughout the world that has established the regulatory framework for trading and investing in cryptocurrency such as Estonia.
The idea of setting up a cryptocurrency investment and trading firm was conceived over 3 years ago. Founded by 4 business partners – Dan Da Rosa (CEO), Jorge Pires (CFO), Mario Pires (CTO) and Antony Klein (COO), the firm utilises revolutionary technology and its technical expertise to offer unique and transparent investment opportunities to other cryptocurrency investors. EZCAMG officially opened for business in July 2018 running proof of concept models which it has perfected over time. It opened to the public in March 2019.
According to Dan, he had known of bitcoin 11 years ago when a family member persuaded him to invest. At that time, a unit of bitcoin was selling for $100. Today the value of a bitcoin unit is estimated at $10,000 despite the major crash in 2018. “I finally got really interested in cryptocurrency when my friend and business partner Mario, an experienced trader had made great returns consistently from trading cryptocurrency. I could see the opportunity of merging his technical expertise with our business experience to set up a company dedicated to investing and trading cryptocurrency”.
Before we continue, it is important we get up to speed with some of the concepts:
Cryptocurrency is a digital or virtual currency that is secured by cryptography to prevent counterfeiting. Some cryptocurrencies are a form of payment that can be exchanged online for goods or services. Cryptocurrencies work using blockchain technology. There are various types of cryptocurrency and holders of cryptocurrency are said to hold crypto assets.
Blockchain Technology is a distributed ledger technology that allows data to be stored globally on lots of servers while permitting anyone on the network to see everyone else’s entries in real time. This means no user can gain control over the network. One major appeal of the technology is its security.
Bitcoin is a type of cryptocurrency that was created in 2009. It is a virtual or digital currency. It is a medium of exchange that can be used to purchase products or services and does not require an intermediary (e.g. a bank).
EZCAMG has recorded consistent growth since its formal launch adding customers mainly through referrals. “We do not just take money from anyone. We protect our standards and the integrity of our firm. Anyone investing with us goes through KYC (Know-Your-Customer) and AML (Anti-Money Laundering) checks before they can open an account with us”. Most of EZCAMG’s investors are from the UK, Germany, and Portugal. “Unfortunately, US citizens are banned from investing or trading cryptocurrency and there are regulations against taking investments from them”.
EZCAMG has made great strides by becoming the first cryptocurrency investment firm offering monthly returns on investment and an accumulated pay out if the investor keeps their funds for 12 straight months. “All investments for each month are held in a pot and then traded. With our Gold Fund for instance, we have a target return of 2% per month which means an investor gets a return of 1.2% each month (paid out 6 weeks from investment date) and a cumulative return of 9.6% (0.8% for each month) if they keep their funds with us for 12 consecutive months. If they withdraw the funds before month 12 then they lose the cumulative return” This is a good way the firm de-risks investments for their clients based on the confidence in the firm’s expertise and past performance.
The minimum investment is £1,000 which is converted into cryptocurrency on behalf of the investor once they have passed all the required checks. There are 3 investment funds designed for different risk thresholds – lower risk (Silver Fund), moderate risk (Gold Fund), high risk (Platinum Fund). “We have a target monthly value that is invested. We do not exceed this value to keep our processes running seamlessly. Most of our processes are fully automated with advanced software and bot technology.
A major challenge operating in the UK is the lack of regulation around cryptocurrency. This has meant getting bank accounts or even HMRC status has been challenging. The firm has resolved to play a big role in developing the ecosystem through education and general best practice so that investors would see cryptocurrency as a viable and safe form of investment. “We are where the internet was in 1999. This is still the early stage of this technology and we are early adopters. I am extremely confident that in the next 10 years, we will see massive growth in this area. Anyone getting in now will still make some great returns in the mid to long term”.
Business has been good this year despite the covid-19 pandemic. “A lot of investors have been looking for other investment vehicles to diversify their holdings. So overall we have had a good year despite limited marketing”. The firm plans to grow steadily over the next 3 years and does not want the investment fund to grow faster than the company rather it intends to scale operations in line with investment fund growth.
And what is the outlook for the next 5 years? “We want to grow the business and go public in 5 years. We will keep a stake in the firm but get other parties running the business. Our focus is also on growing the ecosystem through education and doing more charitable work with local communities with themes based on blockchain technology and cryptocurrency”. This will also mean that Dan gets to spend more time with family, travels and pursues his other interests. “I think it would be good to retire at the age of 55”.
If you want to know more about cryptocurrency trading and investment or you are an aspiring investor, follow this link to their website.