Due to the development of the field of technology in recent years, Artificial Intelligence or AI has proven that it’s no longer a fantasy of the future but a reality that we are currently living in. AI involves making wise and human-like decisions by machines, and it is expected to assist in all major developments today and in the future. Currently, various industries utilise this type of technology for more efficient and quick processes, one of which is the field of cryptocurrency. Read on to know the newest AI tools in the crypto world!
Cryptocurrency: Artificial Intelligence
Over the last years, the cryptocurrency market has generated unexpected yet consistent returns; however, this year was not a great situation in the crypto market. Due to the market’s volatile nature, prices of cryptocurrencies rapidly go up and down, causing huge losses for investors and traders side. This is why crypto enthusiasts constantly look for ways to keep up with the ever-changing market and tools they can utilise to increase their chances of earning profits, such as the use of Artificial Intelligence.
Understanding the crypto market can be challenging, and investing takes a lot of time and requires skill and knowledge. With the birth of more tech-driven tools, some traders turn to various trading platforms for assistance. For example, Bitcoin Up connects crypto enthusiasts with brokers who are equipped with advanced tools and systems such as automation tools, robots, stop-loss indicators, and technical highlights that help overcome market volatility.
Cryptocurrencies are backed by blockchain technology, and incorporating Artificial Intelligence alongside this technology can help address many challenges. AI can be used in the different fields of crypto investing to come up with accurate predictions, sentiment analysis on crypto platforms, automated crypto trading, and improved investment monetisation.
Newest AI Tools
AI tools or bots are automated computer programs that are designed to perform specific tasks with menial to no human intervention. In crypto trading, these bots can come in handy when it comes to trading or investing in the field. Check out these newest Artificial Intelligence tools that you should keep an eye on this 2022.
Pionex is a hit among crypto traders because of its free 16 built-in trading bots and its low trading fee compared to most platforms. This AI bot helps traders earn profits by trading in the crypto market on your behalf – not to mention it comes with a Grid Trading Bot, which helps traders follow the sell high buy low strategy. Pionex also comes with services such as spotting future arbitrage to help you earn 15-50% APR with low risk and a Dollar-Cost Averaging Bot that sets repeated purchasing at regular intervals to avoid the effects of crypto’s volatility.
Botsfolio allows crypto enthusiasts to invest their money in crypto by linking their crypto platform accounts and defining investment strategies – without the need for trading skills or experience. Newbie traders prefer this AI tool as it does not need any programming skills for drafting and device trading bots that will do the trading for you and monitor the trading progress and profits or losses on the dashboard.
TradeSanta is a crypto trading software that helps its users manage the unstable crypto market by taking advantage of its volatile nature through the values of various coins. Its main purpose is to allow trading 24/7 without turning day trading into a full-time position and instead embracing automation. All you need is to create an account, connect it to the supported platform, choose trading pairs, and set up this trading bot in just a couple of minutes.
Cryptohopper is an AI-driven bot that aims to make crypto trading fun and accessible for everyone. Founded in 2017 by two brothers, Ruud and Pim Feltkamp, this tool is designed to be an easy way to trade crypto 24/7. With its trading tools such as trailing stops, bot backtesting tools, customisable technical indicators, and a free trial for its features, it’s no wonder why Cryptohopper is the leading automated trading bot out there.
Shrimpy is both a trading tool and portfolio management which allow users to trade and track portfolios across multiple platforms from a single platform. With this tool, you can manage and trade assets across 16 exchanges and can perform trade automation on the platform through multiple indicators and strategies. Furthermore, it also allows you to trade by following trades of other traders and checking their portfolio allocations.
For traders and investors who are into cryptocurrency – both beginners and advanced – the incorporation of Artificial Intelligence has become a necessity. This is because the developments and innovations made in the AI industry have shown and proven to be helpful and efficient and also allow non-technical users to access and enjoy the crypto industry without the need to have extensive knowledge or great skills.