During cryptocurrency meltdown, San Diego tech startup Altcoin.io raises $1M to build be…

At the height of the crypto craze last year — when the virtual currency market was barreling towards a trillion-dollar valuation — a well-known tech entrepreneur in San Diego launched Altcoin.io to exploit a weakness in the market. The plan was to make a new tool for digital currency traders that would eliminate some of the biggest hurdles to buying and selling on the crypto markets.

Now, with the value of bitcoin and its crypto brethren sliding south, Altcoin is holding tight to its mission, raising $1 million earlier this week to expand its team and charge on.

Altcoin is entering a space that’s seen dramatic shrinkage over the past eight months, with the combined market for digital currencies shedding over $500 billion in value since it topped $800 billion in January. But Altcoin’s founder Andrew Gazdecki, the guy who started and sold Bizness Apps last year, says he doesn’t see the value crash as a reason to back away from his plans.

“Why did I…