Interview with Tom Sosnoff, Founder of TastyTrade, on cryptocurrency and Bitcoin trading


In this quick Q&A, I had the chance to briefly chat with Tom Sosnoff, founder of TastyTrade, on his thoughts behind trading cryptocurrency and Bitcoin.

Tom Sosnoff, a former trader, became one of Chicago’s well-known serial entrepreneurs in financial technology by building a breakthrough options-trading platform, which was later sold for $750 million. He then launched tastytrade, the fastest growing online financial network which produces eight hours of educational and other video programming for traders of all experience levels.

Tom is a recognized online brokerage innovator and sought-after financial educator. Tom founded thinkorswim in 1999, and tastytrade in 2011. He is Co-CEO of tastytrade alongside Kristi Ross.

1. Thanks for doing this Q&A Tom. Could you briefly go over what TastyTrade and Tastyworks is about?

We’re about providing fast, stable and innovative technology along with home-grown quantitative content to individual investors. Tastytrade was founded in 2011 and currently produces eight hours of live, original programming each weekday to provide financial information, investment strategies, and entertainment related to options trading and the stock market.

Tastytrade gives you actionable information rooted in research and experience that can help you grow your investments. Basically, this ain’t yo momma’s financial network. But you can tell her to watch and learn.

2. You’re a super well known and respected leader in the investing space, what do you think about blockchain technology and cryptocurrency?

I think it’s an interesting but immature marketplace that has some marginal, complimentary potential.

3. A while back, you did a short interview talking about the “perfect time to trade crypto.” We’re in a bear market now for cryptocurrencies. Do you think it is a good time to trade now? How about buying the dip?

Sure, it’s the best time in two years. I don’t think they have bottomed yet but they’re close.

4. Are there any blockchain or crypto related projects that you believe heavily in right now?

No, not really, nothing stands out ATM.

5. Is it possible to trade cryptocurrencies on Tastyworks now? If so, which ones?

We support Bitcoin futures today. In Jan 2019 we are launching cash crypto (5 choices). Tastyworks gives you every edge possible with the technology, rates, and support that help you succeed more easily on your own. We think controlling your own money can be more rewarding than relying on money managers or robo-advisors who put your portfolio on autopilot.

6. What do you think is the one thing that’s stopping Bitcoin from achieving mass adoption?

It’s a one-dimensional product with no derivatives

7. The ultimate question! Do you hold any cryptocurrency yourself? If so, which ones?

I’m currently long some Bitcoin futures (small)

8. There’s been some news lately that Chicago might be the next hub for cryptocurrency trading over New York, what are your thoughts on that?

I would think that makes sense. Most of the market making for crypto is done in Chicago

9. Do you think that more experienced traders will eventually pivot to trading cryptos?

Maybe but not until there is a liquid options market for crypto.

10. Thanks for doing this Q&A! Could you tell everyone how they could contact you? 

tom@tastytrade.com


Like it? Share with your friends!

Wilson

Wilson is a 3x Startup Entrepreneur. He is passionate about the cryptocurrency space. You can catch him tweeting about cryptocurrency often @itswilson8 You can also email Wilson directly at wilson@cryptomenow.com

You may also like