Connect with us

Blockchain

DeepTradeBot Review 2020 – Why Should You Use AI Trading Tools?

Avatar

Published

on

Automated trading tools (bots, robots, solutions) become more and more popular nowadays. Today we’d like to review one of the most popular solutions of a kind – DeepTradeBot, a unique fusion of Blockchain technology, artificial intelligence and cloud computing. 

The most popular crypto trading platforms sometimes offer traders too many tools along with a complicated interface, and there are 2 problems: it’s too hard for a beginner to start trading successfully, and for the experienced traders that takes too much time to spend at the platform anyway. 

These facts are the reason why automated trading platforms enjoy significant(rising) interest in the todays reality (market). DeepTradeBot gives traders an opportunity to use artificial intelligence features that make crypto trading more efficient while one can afford spending less time trading. The entire platform was built to be simple to use. Let’s see how it works.

DeepTradeBot Operation Algorithm

The trading bots functionality is based on deep machine learning neural networks and multiplied by the power of cloud computing using BigData technology. 

The platform works with Bittrex, Exmo, Kraken, Binance, Bitfinex and Huobi, and gives an opportunity to rent one of 4 trading robots available:

deeptradebot-ai-trading-platform

DeepTradeBot AI robots have multiple trade modes.  Each of them becomes active at the right time, and allows to stay on top regardless of the current market situation. 

The most principal of them is described at their website:

– high frequency trading. 

Analyses price sensitivity on the platforms by their order books, that can not be tracked by eye.  To do this, the bot collects every change in the order book and evaluates the relative probability of price movement up or down; 

– arbitrage trading. 

The simplest model, always available, but making a yield of 5% to 15%.  It always provides additional insurance if other strategies yield less than average; 

– Algorithmic trading based on technical indicators; 

– Trading with the help of fundamental analysis. 

Taking into account news “stuffing” through social networks like Twitter, Facebook, etc. 

Thus using its artificial intelligence functions DeepTradeBot makes the most of the routine job for a trader: it analyses millions of official comments from trading platforms, regulators, founders and key persons of crypto projects like criticism or support, who create a positive or negative news background with their statements. 

These statements in turn have a direct impact on the prices and trading volumes.  Its automatic news keywords parsers allow to evaluate the potential news impulse from a specific source. 

It’s based on statistic data about the news impact on prices and trading volumes.

Top 3 main advantages of DeepTradeBot

High Winrate

Usually it takes at least 0.1 second to transmit a signal via the API which the other robots, or even a web-socket, use to work.  During this time, the Winrate is reduced by 40%. 

The secret to achieving a high Winrate score for deepTradeBot is to receive trading signals directly from the exchange server.

Improved interface

The only thing you need is to top up your balance, rent a bot, and enjoy savings on commissions, get a higher funds turnover, a larger Winrate and, accordingly, profitability.

Low commissions

A large trading volume on exchanges opens the opportunity to receive low trading commissions: the higher the trading volume is, the lower the commission on leading trading platforms, such as, for example, Binance; 

Thus, thanks to margin trading and lending on a larger volume, the bots generate profits even in cases where there is little volatility and insignificant arbitrage opportunities on the market.

DeepTradeBot Pricing and Options

DeepTradeBot has 4 bots to choose from, including a free one that allows new customers to try the platform out at zero cost. 

It offers the following bots to rent:

  • MiniBot 5 NFS / Free Bot
  • StandartBot 10 NFS / $10 USD
  • ProBot 15 NFS / $25 USD 
  • NetPremium 40 NFS / $45 USD
deeptradebot-cryptocurrency-ai-trading-platform

Each of them has its own rental terms, minimal and maximal daily profit range, trading pairs etc.  The cryptocurrencies available to use for now are BTC, ETH, LTC, and DOGE.

AI Trading Benefits

A bot has no emotions

It’s not a secret that the world is on the verge of global robotization. Self-driving cars, chatbots, smart homes are the today’s reality. And if now robots perform rather low-skilled work, tomorrow they will take over processes requiring complex logical circles. 

With the AI trading, we’re at the start of this epoch. One of the most difficult tasks in trading is to avoid being emotional and flexible enough.  And this is an ideal task for an AI bot. 

Non-adaptive trading systems are good because they will run a trading methodology whenever the conditions are correct. Instead of becoming emotional and making mistakes, trading bots will enter the market without a second thought.

A bot doesn’t get tired

It is impossible for a trader to work 24/7 without being tired. It’s too hard to keep abreast of dynamic the crypto world moves with, every day of the week. Trading bots are functioning automatically, and never need to take a break. 

It looks pretty smart to get a full-time automatic. AI assistant that will control the situation the whole day long.  The fact is a single winning trade can completely cover the cost of the bot rental and save your time and money.

A bot is always same accurate

You probably noticed that when the Bitcoin price rises, the price of a certain coin may immediately fall, as if there is a sort of regularity; while other coins prices, on the contrary, start to drop together with Bitcoin’s.  This is the simplest example, when the relationship can be seen with the naked eye.

Artificial Intelligence is also able to establish, monitor and predict the deeper and multi-level relationships that are absolutely unnoticeable “by eye”.

But the most important advantage of the robots is that it is not just programmed for these processes, but the more data it analyzes, the smarter it becomes.  Self-learning is the main feature of DeepTradeBot.

Is AI Trading for You?

If you are looking for a way to automate crypto trading, DeepTradeBot is worth to try. It is extremely simple to use and can be launched within several minutes by a very beginner.

The free account option will give you a perfect opportunity to try it without paying no additional costs. The crypto trading tools and activities are growing and enhancing day by day. DeepTradeBot will help you to enter this promising market with minimum loses. 

The DeepTradeBot strategies will surely help you to generate profits no matter which way the market is trending. But the biggest advantage is that DeepTradeBot is working 24/7 and gives you a maximum of free time during the day.


This is a sponsored article.(Read our sponsored article policy).

The post DeepTradeBot Review 2020 – Why Should You Use AI Trading Tools? appeared first on BlockNewsAfrica.

Source: https://blocknewsafrica.com/deeptradebot-review/

Blockchain

Secure Private Key Backups Promised By OKEx Exchange

Avatar

Published

on

Jay Hao stands as the CEO of OKEx, and has recently announced that the exchange is gearing towards increasing the security of its various fund storage methods. This statement was broadcasted first on Telegram, but was later posted on OKEx’s website, as well.

Five Weeks Without Withdrawals

On the 16th of October, 2020, OKEx had announced that all withdrawals of cryptocurrencies were to be frozen for its users. As one would imagine, it caused massive waves across the crypto industry at large. This freeze of withdrawals was thanks to one of the multi-signature wallets of the exchange having one of its private keys go missing. As a result of this, the exchange couldn’t process any withdrawal requests.

The result of this was around $2.3 billion worth of Bitcoin (about 200,000 BTC) being locked up within the OKEx exchange wallets thanks to this incident. This information comes by way of Glassnode, a notable blockchain analysis firm.

It took five long weeks before the funds were eventually unfrozen, allowing the exchange to continue facilitating various withdrawals.

Learning From your Mistakes

In a public statement, probably trying to save Face, this week’s announcement had Hao declare the entire event a hard lesson for the company itself and its management. He explained that the incident at large had highlighted a number of key facts to consider, showing weaknesses within the exchange’s internal process. Of course, Hao was quick to declare how eager his firm was in correcting these mistakes.

Trade Tensions with the US Are Fueling Demand for Crypto in China

The OKEx announcement detailed that the crypto exchange will still use the multi-signature wallets, but with some improvements. Most notably, the exchange will now hold backups of the various private keys in case they need to be retrieved in an emergency situation.

Some Impressive Measures

Another key fact about this, is the key backups will be spread across bank safes, which themselves will be spread across three respective countries. The exchange stated that employees that hold private keys are no longer allowed to travel together in the same vehicle, going as far as to bar the three private key holders from being in the same country at the same time.

Should any unforeseen event occur that renders one of these private keys unavailable, in case of a tragic accident or death, the exchange will now be able to retrieve the backup private key. According to the statement, it’ll only take around 48 hours.

Multi-sig wallets is the standard for most centralized crypto exchange, with OKEx being one of them. These new security measures, while extreme to some, will most likely ensure that the exchange’s wallets stay safe.

Source: https://insidebitcoins.com/news/secure-private-key-backups-promised-by-okex-exchange

Continue Reading

Blockchain

Valuing Open Source: Principles for Acquiring DeFi Projects

Avatar

Published

on

As decentralized finance sees its first mergers and acquisitions, we’re left with a big question: How do you value an open-source project in a very new field like DeFi? 

The whole thing is fascinating, almost a contradiction! An analysis of the issues can help us sharpen a toolkit for understanding value creation and power in a world of open source, programmable blockchains and their assets. It can help us understand why things like “number of blockchain patents” are nonsense, and therefore suggest to financial incumbents a better way to be.

Lex Sokolin, a CoinDesk columnist, is global fintech co-head at ConsenSys, a Brooklyn, N.Y.-based blockchain software company. The following is adapted from his Fintech Blueprint newsletter.

The last time we had a corporate development discussion about tokens was in 2018. Messari CEO Ryan Selkis noted that a number of low quality projects sold their ICO tokens and received ether. So let’s say you sold 10 million of X, and got $10 million of USD equivalent denominated in ETH. As the market realized your project was worthless, let’s say X falls 90% in value. But the treasury still holds $10 million denominated in ETH. So the vulture fund strategy, copying a page from the book of 1980s traders and leveraged buy-out professionals, would be to buy up all the worthless X and somehow get control of the treasury. You pay $1 million USD equivalent for $10 million in treasury assets and profit.

This didn’t work for a few reasons. First, initial coin offering tokens did not have meaningful governance rights, or any enforcement mechanisms. If you buy them all, the only thing you hold is a bunch of digital pets. Yes, you could argue “reliance” to a court and extract damages or file injunctions. But it is highly unlikely that you would find suitable jurisdiction, and by the time you get it done, the house will have burned down. And second, ETH fell from over $1,000 to nearly $100. So the value of the honeypots became irrelevant.

Today, we no longer have ICOs, but we do have decentralized finance. And in the last six months, governance tokens over decentralized autonomous organizations (DAO) have become the standard playbook. 

Let’s unpack that. If you buy a container that gives you economic rewards based on the efforts of others, you are very likely buying a security. If that security is sold to you in a way that is not pursuant to securities laws of your resident jurisdiction, there’s a large liability on the issuer.

There have been some signs from regulators, however, that a token changes nature over the course of its lifecycle. It may add securities-like features, while starting out as an empty container. It may be at first motivated by usage (i.e., like a reward) and then become a participant in cash flow. The biggest lifeline came in 2018, when the Securities and Exchange Commission’s William Hinman introduced a concept of “sufficient decentralization,” per below. While far from gospel, many crypto entrepreneurs now believe that turning a protocol/project into a DAO gets the project over the safe line from securities registration. Time will tell whether relying on an SEC speech is valid defense.

It also helps that issuing governance tokens for a DAO creates market capitalizations and enterprise value for token holders. The main DeFi players of 2020 each have $100+ million or more in the market cap of their instantiated tokens. This has accrued from various distribution mechanisms that embedded financial assets as rewards for financial use. As an example, if you deposit your tokens for others to borrow in one venue you get rewards at some interest rate from the borrower.

See also: Lex Sokolin – The Smart Money Economy

According to Messari data, Uniswap and Aave are at $900 million, Yearn at $800 million, Maker at $560 million, Synthetix at $530 million, Compound at $470 million, Balancer at $100 million and Curve at $95 million. These numbers may change or go to zero. But currently, there is about $3.5 billion of enterprise value associated with the governance tokens of decentralized finance projects. Certainly there are many other projects, like Chainlink or Hegic or Ren, that are key to this space. But the above are the main DeFi machines in operation.

Now, $4.5 billion is a chunk of change. Envestnet is trading at $4 billion, Jack Henry at $12 billion, Temenos at $8 billion, Broadridge at $12 billion. These are your fintech industry comparisons.

When a large corporate tech player decides to buy up a competitor, the process is clear and well established. Generally, shareholders elect the board of directors, which governs the company and appoints executive management. Shareholders also vote for large, existential transactions that impact their stock holdings. The board applies business judgment to the corporate development path of the company, from issuing debt to buying back shares to investing in acquisitions. Within the company, executives focused on corporate development will hunt down targets and propose various transactions. Everyone knows what it means to maximize shareholder value, which largely boils down to maximizing EBITDA at some multiple in the market, without creating onerous debt.

But what about open-source financial protocols?

Decentralized M&A

Yearn is likely the most sophisticated financial DAO in existence. Whereas Compound and Aave match margin lend/borrow demand at particular interest rates, and Uniswap, Balancer and Curve create automated market making for on-chain trading, Yearn is a blockchain-native, fixed-income, active asset manager. For 2020 at least, Yearn is the Bill Gross of crypto, playing across trading fees, interest maximization, dividend farming, governance rewards and various other technological innovations that lead to capital appreciation.

The “funds” are called “vaults” or “pools” or “jars” and so on. They are just the equivalent of SMAs or fund interests, synthetically structured through code. The interesting thing is that the whole thing is open source, so in principle somebody could just copy the code base. And somebody did! The fork is called Pickle Finance and has between $100 and $400 million in assets. During DeFi’s summer run-up, forks generated trading returns by simply existing. However, over the long term, it is much more difficult to retain a community and assets. It is hard to maintain a thing that works in the highly adversarial DeFi environment, where protocols are under constant attack. A recent $20 million exploit left Pickle … in a pickle.

The recent news is that Pickle is going to be merging with Yearn. Given that the technical architecture is quite similar, and the experience of the developers is comparable, the core part of the merger is on-boarding Pickle developers to work on Yearn. This implies the Pickle protocol converges its path and community back to Yearn, and that Pickle-specific features will be an addition to, rather than a differentiator against, Yearn. Deeper DAO-related features will also be implemented based on a design from the Curve DAO. Holders can tweak the tokenomics of the machine in real time to create incentives in different dimensions (e.g., more issuance of rewards here, less here).

In a world where financial instruments are manufactured by machines on open-source rails, it is not the rails that are valuable.

This merger is not about the technology. It’s about the people writing code to create the technology, and who pays them what. If the incentives from Yearn cash flows are much higher than the incentives from Pickle cash flows, a lagging protocol can’t last long in an adversarial environment. Attackers prefer to go after those who have the least defense, not those who are most capitalized.

There is a fixed cost to defense, which creates competitive barriers and winner-take-all outcomes. And in a world where capital can move without friction between investment venues, a merger will also pull that community to follow you to the new protocol.

Notably, the governance tokens for Yearn had limited input on this “transaction” – in part because governance is not clearly, legally articulated, and in part because the transaction did not involve the sale and purchase of assets. The assets are open sourced, and people have the freedom and ability to switch what they decide to work on. Not only is capital movement much less restricted, but so is the stickiness of “employees.”

Another announcement quickly followed. Yearn is merging with Cream, a fork of Compound and Balancer, making it a combination of lending markets and an automated market maker. In this case, however, it seems that Yearn is delegating to Cream several strategic product developments, like leverage and a pool-agnostic (i.e., collateral agnostic) stablecoin. In traditional finance, we would call this a cash sweep account. The developer teams, again, are merging together. We assume the benefit to Cream is in part driven the lower the costs of potential errors, in addition to higher cash flow.

And another: Yearn and Akropolis. The latter had a $2 million hack earlier in the month, and going forward will play the role of institutional distributor of Yearn products as well as be part of investment strategy formulation. The same compensatory mechanism of issuing tokens to Pickle holders (i.e., a piece of something that looks like debt) will be applied to Akropolis holders.

See also: Lex Sokolin – How DeFi Can Avoid the Irrelevance of P2P Lending and Crowdfunding

And let’s not forget SushiSwap and Cover.

So what do we observe? Yearn is extending not just its technology but its economics and reputation to “bail out” multiple projects that have great teams but have all suffered in the recent past.

Takeaways

In a world where financial instruments are manufactured by machines on open-source rails, it is not the rails that are valuable. Yes, over time the rails become more sophisticated and are stress-tested by capital and hacking. But what actually holds “value” are (1) the communities that commit assets to protocols, and choose to align economic activity with some particular brand and (2) the entrepreneurs that have the very rare skill-set of building and securing such protocols.

See also: Lex Sokolin – The Revolution You’ve Been Awaiting: Fintech + DeFi

The community is the business asset. It generates cash flow. It improves governance. It fixes hacks. Notably, communities align to brand narratives and the celebrities and influencers that spearhead the narrative. Andre Cronje will represent Yearn, despite decentralizing maximally his project, and is the face of the fund. Popular confidence in his goodwill and judgment is the measure of the project. Similarly, confidence in Vitalik Buterin is correlated with confidence in Ethereum. There is something deeply conservative in the realization that these futuristic finance networks rely on philosopher kings and have increasing returns to scale.

But this was always the case. Humans need torchbearers: Steve Jobs, Elon Musk and the rest. In the case of DeFi, the torch itself is of a different kind. But it burns with the same flame.

Disclosure

Source: https://www.coindesk.com/principles-for-acquiring-defi-projects

Continue Reading

Blockchain

Swiss Wholesale CBDC Trial Shows ‘Feasibility’ for Central Bank Money on Distributed Ledger, BIS Says

Avatar

Published

on

An under-the-wraps Swiss trial testing how central bank money can be linked to financial markets built on distributed ledger technology (DLT) yielded positive results, the Bank for International Settlements (BIS) announced Thursday. 

Launched by the Swiss National Bank (SNB) in collaboration with BIS’ Innovation Hub and Swiss stock exchange operator SIX, the project looked into the feasibility of using a wholesale central bank digital currency (CBDC) to settle digital assets as well as link DLT platforms to existing payment systems. 

According to the BIS report, the project has demonstrated feasibility for both approaches. Titled “Project Helvetia,” BIS said when using a CBDC limited to banks and financial institutions, a wholesale CBDC has potential advantages although it also raises some policy and governance challenges. 

On the flip side, while linking existing payment systems such as the SNB’s inter-bank payment network to digital asset platforms could avoid the hurdles raised by a CBDC, the findings noted it could also scale back the potential benefits of fully integrating distributed ledgers. 

“Overall, having tokenized cash and assets on a single DLT platform simplifies the settlement of transactions and supports a broad variety of use cases. However, issuing a w-CBDC is likely to require significant changes to the processes and operations of a central bank,” according to the BIS report.

The report added that while integrating DLT into existing payment systems would be a relatively simple approach and would resemble the current system, it would also cut back on efficiencies raised by integrated tokenized central bank money and securities because it would function more like a link than a common base. 

Noting that the experiment is no indication of the SNB’s intentions to issue a wholesale CBDC on SIX Digital Exchange’s (SDX) platform, the announcement said that different design choices to trade off some risks and benefits in issuing a CBDC would also need to be explored. 

SDX had said in a March report it plans to launch its blockchain-based stock exchange at the end of this year. Project Helvetia, said the report, was the first wholesale CBDC experiment by the Swiss central bank and complements the planned launch of of the blockchain-based SDX.

“If DLT can deliver significant improvements in securities trading and settlement, then the SNB will be prepared,” Andréa M Maechler, member of the SNB’s governing board, said in the announcement. 

Because the wholesale CBDC model used for this test functions more like swapping cash for tokenized money, it would likely have limited monetary policy implications. But the report also noted this model could potentially “lead to some segmentation of the money market, which could negatively affect [its] efficiency and liquidity.”

The report said the next step would be to better understand the policy and fiscal implications of integrating wholesale CBDCs into core banking systems and explore their functionality across borders.  

Source: https://www.coindesk.com/swiss-cbdc-trial-tokenized-central-bank-money

Continue Reading
Blockchain4 hours ago

Spotify Thinking of Accepting Bitcoin

Blockchain2 days ago

Greenheart Punt World Debut on DigiFinex

Blockchain4 days ago

Coinbase unwilling to participate in Spark’s airdrop

Blockchain5 days ago

Ripple Plans To Cash Out 33% Of Its MoneyGram Stake With A Significant Profit

Blockchain1 day ago

IlCOIN Launches Blockchain-Powered VR First on Steam

Blockchain4 days ago

EOS Finds Support above $2.80, Resumes Upside Momentum

Blockchain4 days ago

ECB Lays out ‘Reinvention of Money’ Strategy

Blockchain2 days ago

Mining City: A Blueprint for Success?

Blockchain5 days ago

Ripple price prediction: XRP to hit $0.67 next, analyst

Blockchain5 days ago

Bitcoin Price Prediction: BTC/USD Resumes Upside Momentum, Struggles to Break Above $18,000 Price Level

Blockchain4 days ago

Litecoin Price Prediction: LTC/USD Ready to Revisit $80; Further Upside is Limited

Blockchain5 days ago

Bitcoin: Temporary Correction or No ATH This Year? The Crypto Weekly Market Update

Blockchain5 days ago

South Korea To Postpone Previously Planned Crypto Income Tax

Blockchain5 days ago

South Korea To Postpone Previously Planned Crypto Income Tax

Blockchain5 days ago

Bitcoin and Crypto Worth $4 Billion Seized From PlusToken Ponzi Group

Blockchain5 days ago

Bitcoin: Temporary Correction or No ATH This Year? The Crypto Weekly Market Update

Blockchain5 days ago

Bitcoin: Temporary Correction or No ATH This Year? The Crypto Weekly Market Update

Blockchain5 days ago

Bitcoin and Crypto Worth $4 Billion Seized From PlusToken Ponzi Group

Blockchain5 days ago

Guggenheim opens door to bitcoin exposure for $5 billion macro fund via Grayscale GBTC product

Blockchain4 days ago

Ethereum Strengthens Polish City’s Emergency Services

Blockchain4 days ago

Trading 212, PayPal Crypto User Ban, BTC and ETH Tank: Editor’s Pick

Blockchain5 days ago

Bitcoin Price Prediction: BTC/USD Back Above $17,500 Level as the King Coin Recovers

Blockchain5 days ago

Guggenheim Fund Files to Be Able to Invest Up to Almost $500M in Bitcoin Through GBTC

Blockchain5 days ago

South Korea To Postpone Previously Planned Crypto Income Tax

Blockchain5 days ago

Bitcoin Climbs 5%, Why $18.2K Holds The Key For More Upsides

Blockchain5 days ago

South Korea To Postpone Previously Planned Crypto Income Tax

Blockchain5 days ago

Bitcoin: Temporary Correction or No ATH This Year? The Crypto Weekly Market Update

Blockchain4 days ago

Bitcoin: Temporary Correction or No ATH This Year? The Crypto Weekly Market Update

Blockchain4 days ago

Bitcoin Grows By 5%, $18K Level Holds The Key For More Upsides

Blockchain3 days ago

Yearn Finance Continues Growing with Latest DeFi Acquisitions

Blockchain5 days ago

Guggenheim Partners prepares to dip investment fund’s toes into Bitcoin

Blockchain4 days ago

South Korea To Postpone Previously Planned Crypto Income Tax

Blockchain4 days ago

Bitcoin (BTC) Surges 5% Above $18,000 As Guggenheim’s Entry Sparks Excitement

Blockchain4 days ago

Guggenheim Partners may be the next big player to bet on Bitcoin

Blockchain5 days ago

South Korea To Postpone Previously Planned Crypto Income Tax

Blockchain4 days ago

South Korea To Postpone Previously Planned Crypto Income Tax

Blockchain5 days ago

Ripple Plans To Cash Out 33% Of Its MoneyGram Stake With A Significant Profit

Blockchain4 days ago

Ripple Plans To Cash Out 33% Of Its MoneyGram Stake With A Significant Profit

Blockchain5 days ago

Bitcoin and Crypto Worth $4 Billion Seized From PlusToken Ponzi Group

Trending