The Cryptonomist

An interview to the CEO of SWAG

Cryptocurrencies are going through a transition phase. Some speak of a ‘crypto winter’, others of the beginning of a consolidation phase at more stable levels. Some international majors, well known also in Italy such as Celsius and Binance, have intervened on Bitcoin conversion, while others have imposed limits. Making predictions on the future of Bitcoin and other cryptocurrencies today is a useless gamble, but talking about it with those who work daily in this field, can help the average user better understand the market and more carefully evaluate the choices to be made in the short and medium-term. This is why we interviewed Giovanni Lionetti, CEO of SWAG.

Let’s start with a question, perhaps obvious but a must. You are an entrepreneur in a multinational company…

Will you have any predictions regarding the future of cryptocurrencies?

“Let’s say that perhaps today we can see some things more clearly. There are realities that have probably grown too fast, but we have also seen the creation of perhaps too many cryptocurrencies. The ‘Future of Value’ tool integrated into the Swaggy wallet, has among its functions precisely that of analyzing the most important cryptos. Well, even among these, the analyses of their soundness were often unsatisfactory. Now, however, we see the growth of NFTs, launched recently and with satisfaction also by SWAG, which can also be purchased through major international circuits, or of stablecoins linked to traditional currencies. Tomorrow we may experience this phase as a time of rearrangement of the sector. And only those who, like SWAG, will know how to keep up by anticipating the market, will be able to continue their growth”. 

SWAG, unlike many other companies active in this sector, offers its users the possibility of renting mining machines, thus not just buying crypto but also mining Bitcoin. And to this service, it then adds its own wallet for the simultaneous management of crypto and traditional currency. 

A winning formula? 

“If I have to answer by looking at the numbers,” Lionetti explains, “then I have to say yes. Today Swaggy is a wallet with over 30,000 active users, that is, users who move their accounts day by day with both crypto and traditional currencies, purchase our additional products, make online purchases, receive payments, and obviously then understand the convenience of the project by adding BTC mining to the wallet. One of our strengths is precisely this. We start with a simple and very useful tool and then make the user understand the advantages of mining”.

As mentioned, SWAG is a growing reality, you have passed 30,000 users, you are constantly increasing the tools available in the Swaggy wallet, and you are aiming for growth in different markets. 

Where do you see yourself in a couple of years?  

“Let’s take a step back. In March 2020 we launched the first release of Swaggy, but a year later we already had 1000 mining machines under management. In December 2021 there were 5,000 machines for hire, in March there were 30,000 Swaggy customers. At the beginning of 2022, we started one of the largest transfers of mining machines, guaranteeing users the same conditions without losing a single day of production. 

Every day we work to improve, every week we discuss new products to be carefully evaluated, and every month we understand the impact. Here SWAG is taking one step at a time, growing one step at a time on solid foundations. Our customers, as Trustpilot also reports, are absolutely satisfied, the indicators are all positive. It is difficult to say where we will be, but we can say that we will be there, and we will be there with growing ambitions”.

Objectively, however, there are international difficulties that have stopped the crypto race. We are not only referring to a question of the value of Bitcoin or Ethereum, but probably the rise of these currencies as a real alternative on the market. 

So what should the average user do today? 

“Nobody has a crystal ball. Six months ago, Bitcoin was at highs and was unapproachable for many. Today it is worth less, but we have to say that it is precisely in downtrends that people generally return to the markets to buy. To mine Bitcoin today is to secure an asset that could soon be experiencing a bullish phase again, and in this sense, the rental of industrial machines is a decidedly convenient possibility. For those in doubt, we provide a fixed mining simulator on our website swag-shopping.com. The user can judge for himself how many BTC he would have by buying them and how many he would have by extracting them”.

At the beginning of the interview, you said that we could remember this phase as a time of rearrangement of the sector, of consolidation and selection. But every revolution brings with it, often important changes.

In the crypto sector, what could happen?

“The future of this sector inevitably passes through complete integration with the traditional financial sector, both in terms of authorization, transparency, and legality and in terms of innovative services aimed at real customer satisfaction. Blockchain, and related technologies, will enable the most virtuous companies to provide new versions of the financial services we know. I am thinking, for example, of loans and insurance in the first instance, where customers themselves will be able to be both users and providers at the same time. It will therefore be essential to put the customer not only at the center of attention, as is already the case, but truly at the center of the business, considering him an integral part of it and not just an element to be exploited, albeit properly served. Those who do so will not only chart a new course but, over time, become a dominant player.”

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