London, United Kingdom, February 21, 2019. – Doubly, an online Artificial Intelligence-aided cryptocurrency trading platform based in London has announced a partnership with an insurance company. The deal between Financial Global Insurance Solution Limited (FGI) and the crypto trading platform will help secure the funds that users deposit on Doubly.
The deal seeks to provide the Doubly platform’s users with enhanced security and peace of mind as they trade in crypto. The Doubly platform that was established in 2016 is a crypto trading system that incorporates Artificial Intelligence (AI) to provides its users with a safe mode of trading in and doubling their cryptocurrency stash. The new deal now means that users will reap even more for trading on the platform since the insurance deal introduces a money-back guarantee.
Doubly and FGI Partnership
FGI provides insurance solutions that protect companies in the finance sector. The FGI products protect the funds that clients put in their various companies that FGI’s products cover. Moreover, FGI offers cover for the activities of its client firms.
Before doing any form of partnership or offering any cover of whatever sort, FGI engages in elaborate research. Such an investigation seeks to find out if its (FGI) products are appropriate for the finance company in question. The case with Doubly is not any different. FGI studied Doubly’s finance and essential aspects such as success rate, turnover, expenses as well as liquidity. At the end of FGI’s study, the two partners crafted a product that makes Doubly’s products and services safer. It is expected they will become more popular as well.
Details of the Insurance Deal
In a nutshell, FGI is an insurance entity that works with financial services providers. Primarily, it protects the funds that clients of its partner institutions invest. Besides, it also covers the activities of its partners ensuring that such partners do not suffer illiquidity.
The deal signed between FGI and Doubly provides Double users with a money back guarantee. The product allows Doubly customers to liquidate their investment, to pay back based on the agreed terms and conditions and still earn on the invested amount. Overall, this deal implies that the money that investors put into the Doubly system is always available. Primarily, the agreement does indicate that users can withdraw the cash they have invested in Doubly whenever they want and even cancel their investment.
FGI will then take over such investments so that the Doubly system does not experience loss of money. The deal gives the control of funds back to the owners, so they do not have to wait for extended durations stipulated in their contracts to get their hands on their money. The convenience of the arrangement shall cost the investors anywhere between 20 and 30% depending on the kind of package they buy from Doubly.
The pact covers Doubly’s release packages to the tune of US$ 39 million monthly. The necessary system adjustments that make these transactions possible is already integrated on the Doubly platform. Investors can now request for cash release directly from the Doubly website.
Further, Doubly has opted for further security by contracting FGI to cover its daily trades. The platform understands that even though its margins are impressive, it is essential to take into account the severe effects of the markets. The management understands that the surprises of the markets can sometimes leave devastating effects. Through the said deal, FGI will provide up to US$ 15 million to cover each trading session.
The cover will ensure that Doubly eliminates chances of loss while also making sure the platform’s liquidity remains constant. In return, the platform shall hand over to the insurer, an agreed-upon share of every successful trade the Doubly bot makes.
The Uniqueness of Doubly
Doubly has a better analysis that after adjustments, still leaves it with gains of between 6 and 10%. All these rewards are a result of Doubly’s smart and sophisticated, self-learning AI bot. The machine allows Doubly to execute enormous trading possibilities that are both precise and safe. Moreover, the nature of the trading engine enables it to undertake these trades faster than is possible manually.
The Doubly system incorporates an internal ranking system that which evaluates the effectiveness of every trade it undertakes. The ranking system, as such, helps the bot to improve its future decisions based on the outcomes of its past trades. Primarily, the nature of the bot and the trades it undertakes makes it better and more responsive to positive signals.
The bot relies on the result of that data that the ranking system processes to undertake a trade. Whenever there is adequate data about a specific cryptocurrency, the Doubly bot decides to buy or sell the said crypto.
More information about Doubly is available on the website.
Richard Greene – CEO, Doubly