Daniele Izzo, CEO and co-founder of intelligent crypto services company Amon Tech, believes investors should be able to keep their cryptocurrency and earn money from their investment.
Izzo co-founded Amon in 2018 to solve two common problems with cryptocurrency spending: real-time conversion and market volatility.
That’s why Amon Tech has created a product that lets users earn interest and rewards on their crypto holdings – without cashing them in.
Investors can buy all major cryptocurrencies, including Bitcoin and Ethereum, using Amon Wallet.
This can be linked with Amon Earn, which through trusted partnerships provides weekly interest on the world’s most popular cryptocurrencies and stablecoins.
The company also plans to launch a crypto debit card that comes with cashback rewards, along with a free monthly meal from Uber Eats.
Izzo believes that Amon’s unique approach makes it feasible to make Bitcoin a “retirement plan for millennials” and for investors to use cryptocurrencies as a hedge against rising inflation.
In this Q&A, Izzo explains more about founding the company, its growth strategy and his thoughts on the future of cryptocurrency.
What’s the elevator pitch for Amon Tech?
Daniele Izzo: At Amon Tech, we’re a group of like-minded individuals who believe in a world where cryptocurrencies and traditional currencies can co-exist. We strive to create world-class, easy-to-use crypto products to help individuals achieve financial freedom.
Crypto is the future of economies, but most banks today do not share our vision, in the freedom that crypto can provide.
What inspired you to start the company?
DI: Crypto users have faced and are still facing many challenges in usability and adoption. Amon comes into play by helping users make their crypto journey easier in their everyday lives
What have been the greatest challenges in getting to market?
DI: Unifying the crypto and fiat world is a complex task and requires many strategic partnerships, licences and IT development. It has been and still is a journey to adapt to new regulations while at the same time provide great customer service and usability.
The crypto sector is a notably fast-changing environment and also one of the fastest-growing markets.
How has Amon funded its growth?
DI: We are backed by a VC, a bank and several angel investors. Developing great products involves having excellent investors and we are proud to say that we have been able to onboard a robust team and solid, renowned investors.
Do you view cryptocurrency as a medium of exchange, a store of value or something else entirely?
DI: Crypto in general can be either medium of exchange or store of value. If we talk about Bitcoin then we can definitely define it as a store of value. However, if we talk about stablecoins we can also consider them as medium of exchange.
Crypto is also a space of speculation so it can also be considered as something else. Altcoins are generally more speculative, especially smaller coin projects which clearly don’t have a good base and are often just hyped.
We all need to learn to differentiate the different cryptos and not put them into one bucket.
What aspect of cryptocurrency do you find most exciting?
DI: The potential of cryptocurrency and blockchain in all sectors is exciting. Today, more and more industries are looking to the technology to improve their services.
Where do you see areas for improvement in the crypto world?
DI: Mainstream adoption and fair cryptocurrency regulation will only benefit both the traditional, fiat world and that of crypto.
Web3 – the future or the latest tech buzzword?
DI: Web3 is for now something to watch – it’s too soon to say whether it is the future, but the implications are definitely exciting.