There are many things we do not understand in this world. Luckily we live in an age of knowledge where it’s available on every corner. The introduction of the internet smashed so many borders. Thanks to it, today we have terms such as cryptocurrencies. Furthermore, technology has developed so far that we are constantly, for years, working on creating artificial intelligence. To some extent humanity did it. Of course, conspiracy theorists fear the Terminator scenario, but fear not, James Cameron has that covered.
By, now you must be wondering what are we talking about here. But, we have already laid down the first two points for you – crypto and AI. How do these two terms bode together? Pretty well to be honest. We are talking about the two products that were made possible by the rapid development of technology and science. For one we have digital currencies that are based on blockchain technology. The first of them was introduced to the world by one Satoshi Nakamoto back in 2009. AI was in development for some time too. We can’t be precise when the first signs of it were detected or created, but today, many companies all over the globe are focused on bringing artificial intelligence to the big stage.
Of course, we don’t have the big talking robots that plan to take over the world. None of that is real. So far. What we do have are products such as Alexa or Siri, and you heard of them. They’re a form of AI. But, plenty of hardware and software we sued today are also based on artificial intelligence. Considering how crypto is tech savvy, it’s no wonder AI found its way to get tied to digital currencies. This is what we’re going to cover in this article today. Have you been wondering how is AI used in cryptocurrency trading?
If you’re planning into becoming a trader, or are already one, but want t up your game, AI can help. But, you need to know how to use it the right way. If you want to learn even more than what we’re about to share with you, you can check out this review about a trading software named Bitcoin 360 AI. In the text below we are going to talk about a few ways how amazing artificial intelligence is being used by crypto traders every day.
Market Predictions
Do you know what makes crypto so hard to work with? It is the volatility of course. Digital currencies are highly volatile. This is what makes market predilections in this domain so hard. Research and analysis are the keys to achieving success in crypto trading. But, doing it manually is sometimes an impossible task. Everyone who tried to be a serious crypto trader knows this already. But, if you bring Ai into play, everything becomes much easier. Artificial intelligence, or in this case, software that will work as a crawler and search through the blockchain can bring forth data you didn’t know even existed tied to the markets you want to conquer. It is one of the best ways AI found its way to become a tool every cryptocurrency trader or investor needs to have by his side.
Data Filtration
The Crypto market is not only volatile it is also massive. Each day you have more cryptocurrencies available and more players wanting to play the game. This makes things complicated. The amount of data available is vast, and that’s great. But as an individual, it is hard to impossible to collect and analyze all of the available data on your own. Many have tried. The results won’t come this way. By using AI assistance in this domain, the data that gets to your table can be the one you need, after terabytes of it have been analyzed by a third party. The best part is that you’ll improve your results, but save time in the process.
Learning Ability
This is the scary part. But, don’t be frightened. It’s not like Will Smith will come running around like in AI, Robot, or slapping people like at the Oscars. We’re talking about learning you will undergo after data is chewed for you as we explained above. This will make you better at what you do, and you’ll be able to assess the market in more ways and with more precision. At the same time, the AI will learn too. They’ll store data and remember patterns. This brings us to the first point we made. Their ability to investigate the market and make predictions based on previous experience will vastly outperform yours. This is nothing to be ashamed of. It is one of the primary reasons AI found its way not only to crypto markets but to all other spheres of investment.
Automated Trades
As we said, AI can learn, and you can teach it too. There are trades you’d do in a blink of an eye if you were there all the time. You aren’t. but, if you give the data to an AI software and allow it to do the bidding in your name, you are a winner. Automated trades are the future of trading. All you need is an ideal virtual assistant. AI will grow more and more every day. You might not trust it today, but having it make the moves you’d make based on your shared experience is a win-win situation. People will tell you there aren’t situations like these when it comes to crypto markets, but we claim otherwise.
Finding Right Partners
Yes, the crypto market is not Tinder. But, hear us out. When you enter this world associating with the right people is beneficial, for everyone involved. But as we mentioned the market is vast. You won’t meet these people on the street, and you won’t be able to recognize suitable partners among the millions of investors. A good virtual helper can do this. AI is the best at recognizing moves and patterns and seeing similar people to yourself. Your style is not unique. It’s hard to achieve that in today’s financial markets. So, finding people who think the same, and improving with them is a great way to boost your financial situation. Let the AI do the work for you and pair you with a winning team.
