Technological innovations have transformed the financial services industry and cryptocurrency is no expectation to this idea. AI is considered as an advanced technology which is now penetrating the crypto trading world to help investors make better-informed decisions.
Crypto trading world is quite popular but investing in virtual currency is still a bit tricky because of a volatile landscape and the sheer number of coins with rapidly changing valuations. However, the digital currency concept is not that old and hence optimistic investors think of it as a good bet for making a lot of money. Let’s watch an interesting video which will explain why people hesitate from investing in cryptocurrencies.
As per Lendedu, cryptocurrencies have become one of the most popular choices of investment among millennials. Along with Lendedu, we have analyzed a few other stats generated based on surveys performed by Finder, Survey Monkey, and Global Blockchain Business. Let’s have a look at the compiled image showcasing outcomes:
It can be concluded gradually millennials are getting interested in virtual currency trading. This is why customized investment tech tools are being built for letting crypto traders invest logically.
These tools have the potential to predict and study the market scenario of the crypto landscape. The entire crypto trading realm is getting transformed to let ambitious investors make sensible decisions even if they aren’t familiar with the basics of the finance world.
The internet has enough information on tech-driven trading platforms and tools. But what grabbed our interest is how the immense power of Artificial Intelligence (AI) can be used to revolutionize the crypto-investing setup. Let’s explore in detail.
How AI Is Integrated Into Crypto-Investing World To Reshape Its Future?
Being in digital form, cryptocurrency is backed by a safe network and can be bought, traded, or sold. Earlier, crypto holders have to struggle a lot in order to make clever investment decisions. They have to analyze huge amounts of data manually and spend hours in managing to cope up with their emotional side for taking a practical call.
Key players from digital industry such as Peter Thiel (Co-founder PayPal & Venture Capitalist) and Winklevoss twins (Internet Entrepreneurs & Rowers) have made serious investments into cryptocurrency. Also, they have made a fortune on the stock market. But as we discussed above crypto-investing is also becoming popular among generation Z.
The major driving force behind this evolution is the growth of advanced tech tools. Fortunately, with the emergence of AI-powered platforms now the crypto-investing world has become much more transparent and risk-free. As per Hackernoon, both AI and machine learning are newbies, but already penetrated the crypto trading world.
This changing set up encourage crypto investors to put their money in virtual currency with the motive of making huge profits. Let’s look at a few major benefits which AI has brought into the world of Crypto-investing:
1. Seamless Transparency With AI & Blockchain
Blockchain platforms are extensively used for trading virtual currencies. Along with being secure, these systems are extremely transparent and dependable. Integrating AI-powered solutions with these platforms can facilitate the development of a decentralized system. Also, it will be much easier for crypto investors to recognize common patterns and trends so that to formulate future policies accordingly.
Let’s look at how this advanced technology works with the help of an image depicted in go2web. The image shows how Blockchain is a safe platform to facilitate digital transactions.
The majority of AI and blockchain crypto trading platforms are safeguarded with smart contracts which makes them resistant to cyber attacks and data breaches. These contracts are safe and helps investors in making decisions and putting their money without any fear. Moreover, such solutions allow them to diversify their portfolios and earn a lot of money.
Matrix AI (MAN) is an innovative China-based blockchain system. It exploits AI technologies for security augmentation by means of automatic reviewing and self-optimization. This platform helps crypto investors to generate smart contracts in their native language. Such contracts are much more accessible for everyone and eradicate the need to learn coding or programming.
2. Automation Of Complex Processes Related To Crypto-Investing
AI-driven crypto investing tools also automate several mundane and repetitive tasks such as collecting data and analyzing it for identifying useful insights. These tasks were done manually by the investors earlier. But automation saves time so that they can pay attention to sensitive matters and focus on growing their wealth.
With the help of AI categorization of massive datasets can be done quickly and hence investors can take calls on the spot without any delay or fear of missing out on a good opportunity. Automated processes accelerate the speed with which crypto investors operate and make decisions.
3. Digital Investing Platforms To Make Crypto Traders’ Life Much More Convenient
There are quite a few AI-driven online trading platforms such as bitbose and trademindx that are popular among crypto investors as these are blessed with experienced programmers, financial wizards, and traders. The expert community helps crypto investors earn maximum money online with trading virtual currency.
4. Facilitate Fair Decision Making Without Any Partiality
AI-powered tools are built with great precision and they are trained to perform flawlessly. Also, they aren’t prejudiced towards a particular investor. This helps crypto traders in making reasonable and realistic investment calls. AI can assist crypto traders with seamless and fair decision making.
Moreover, AI crypto-investing helps in seamless execution of multiple investment projects so that to boost the cash flow in the financial system. Elpis Investments is a renowned giant in the investment landscape. The company is building an AI-driven trading company which will work on the principles of Machine Learning (ML) and Deep Learning.
It will influence the sphere of fund trading and work on removing human prejudice from investment activities and craft customized as well as transparent schemes for seamless investments in cryptocurrency and conventional assets that too at the lowest costs.
These are a few key aspects of crypto-investing which is under the influence of AI. But there is a lot more to come. The mass revolution which the World Wide Web (WWW) brought to the trading and investment sphere, AI and automation are believed to be the next game changers for the crypto-investing world.
Let’s take a look at how AI-driven tools are helping both amateur and knowledgeable traders make sense of the wild crypto market for making wise investment related calls.
How AI Is Helping Crypto Investors In Growing Their Virtual Wealth?
1. Smooth Market Forecasting & Interoperability
The crypto investing sphere is volatile and dynamic. It’s difficult for investors to do an efficient market evaluation and forecasting. AI-driven platforms which help crypto traders to study the instability of the marketplace and predict what could happen in the future so that to make better-informed decisions.
As per Hackernoon, AI can generate superior market predictions based on analysing the historical data. The same activity was performed by feeding an AI system with data of five years (1995 – 2000). The forecasting was near precise for 2001. Let’s see:
This analysis helps the investors to strategize in advance and come up with back up plans for avoiding pitfalls down the road. The thorough market study allows them to make intelligent decisions backed up with facts and stats.
II. Useful Insights To Device Robust Trading Policies
The crypto trading world is highly dependent on massive data sets that need to be analyzed in order to identify useful insights into investing landscape. AI solutions can solve this problem as manually the process of collecting and arranging huge data can be daunting. But these tools can perform this task efficiently.
AI empowers crypto investors to make data-driven decisions by making data consistent with cross-examining against multiple sources and recognizing and eliminating discrepancies. Moreover, this technology arranges the data sets properly so that they can be quickly analyzed. Also, traders can use these tools for getting insights and based on that they can formulate future investing strategies.
III. AI Robo Advisors & Asset Managers: An Angel In Disguise To Crypto Investors
There are AI-powered Robo advisors that analyze the specific qualities of crypto investor and build automated investment portfolios tailored to suit their needs. These robots are investment advisor to the traders who aren’t aware of the crypto market set-up. Or, don’t have time to get familiar with the stock sphere and make logical investment decisions.
NapoleonX is an AI-driven asset manager for crypto traders which help them in understanding the mood of the crypto community. It allows them to identify behavioral patterns and make decisions in accordance with them.
VI. Efficient Analysis & Valuation Of Virtual Assets
As per a survey performed by a Reddit user which was showcased on Investinblockchain, most of the cryptocurrency subreddit users verify the prices of their cryptocurrencies at least on a daily basis.
Predicting the value of owned virtual assets is very important for crypto investors. But it’s equally important to in order to determine the future value of several crypto assets to determine the worth of taking that risk. AI-powered tools such as Augur has made it much easier to evaluate crypto assets and come up with precise estimations by studying the contemporary crypto exchange rates.
This process of analysis was tedious and time-consuming in the past. But AI has streamlined the entire procedure and made it simpler. Crypto investors can easily leverage these advanced solutions for making accurate forecasts even if they are not well-versed with big data or data science principles.
IV. AI Bots & Intelligent Virtual Assistants To Facilitate Better Decision Making
Crypto-investing has come into the mainstream with the help of platforms such as Exodus wallet and Shapeshift. But still, there is a need for greater accessibility and prompt support. To fix this issue AI-trading bots and virtual assistants prove to be a boon for the crypto community.
TeleX AI has built an intelligent chatbot for digital traders and it’s named as “Siri for Crypto” by CoinTelegraph. Along with answering questions, this bot can help crypto investors with executing complex trading processes. Moreover, it can also give advice to the traders about how they can make the most out of their investments.
Autonio is an AI trading chatbot specifically built to cater to the crypto-investing sphere. It’s the first decentralized tool created with keeping in mind the dynamic style of crypto trading and awareness acquired from Wall Street.
Free virtual assistants and AI-powered bots let investors check market attitude and thoughts on Ethereum Bitcoin and which are the two major cryptocurrencies. This data can be used to forecast how the crypto market will behave in the future and traders can plan accordingly. Crypto Angel is an example of an AI-driven virtual assistant.
For example, Daneel Assistant is an AI-driven platform which can help crypto traders in assessing trustworthy information, handle and diversify their portfolios smoothly, and even educating themselves for becoming better as an investor.
V. Intuitive Apps Backed Up With AI To Streamline Crypto-Investing
AI has immense power that fintech entrepreneurs exploit to build custom applications which help traders to invest in multiple platforms and keep an eye on the volatility of the crypto landscape. Software development companies have plans to integrate AI with cryptocurrency marketplace and create reliable apps for investors.
These apps allow crypto traders to operate on the go and make investments from any location. Seamless connectivity and collaboration with peers allow investors to cope up with the latest industry happenings and trends.
As per VentureBeat, Cred is one such crypto investment app which is built to function both on iOS as well as Android platforms. Basically, this app solve issues associated with virtual currency transparency and access.
VI. AI Platforms To Give Life To Your Crypto Trading Ideas
Signals is an AI-driven one-stop-shop for crypto investors where they can give life to their innovative ideas and strategies. It’s a trading tool that helps investors in making crucial decisions based on insights gathered from analyzing hard data. Even investors who are not familiar with basic technical skills can leverage this platform efficiently.
Different crypto trading models are complied with the help of AI and showcased on such platforms so that investors can interpret and use them easily. Moreover, these platforms present market indicators in the form of visually appealing and simple media such as videos. For example, Coinscious is a crypto-trading platform to help investors strategize and streamline their trading processes.
With the help of media monitoring, sentiment analysis, and deep learning algorithms crypto investors can leverage these platforms to create, control, and test trading frameworks for the crypto market.
AI still has a lot of scope for delivering powerful tools to aid crypto investors. But this technology has already started renovating the realm of virtual currency investment by making it more streamlined.
AI-driven tools are like a boon to crypto traders as they can leverage them for growing their virtual wealth and enhancing their reach. Moreover, AI-powered platforms can make crypto traders cope up with the global ecosystem which is gradually becoming more digitized.