The world of trading has always been an exclusive place; The domain of the rich and well-connected, it’s been traditionally tough to break into the stock market as a newcomer.
Today, there’s a whole new market beginning to emerge. Cryptocurrency, since its inception just under a decade ago, has been a source of fascination for people in the financial universe.
Bitcoin’s value has skyrocketed over the last few years, increasing by ten times in just a year and a half. That kind of thing never fails to capture the imagination of people who want to make money fast.
But there’s more to cryptocurrency than just an opportunity to get rich overnight.
An equal way to trade
Bitcoin and its fellows like Ethereum, Ripple, and Litecoin represent a new kind of trading, one that isn’t as strictly controlled and elitist as the traditional Wall Street kind. You don’t need an uncle high up in finance to get started with Bitcoin trading. You don’t need an Ivy League education or a fat start-up fund. All you need is a computer and some spare cash to make enormous gains.
This kind of accessibility is part of the reason why crypto is so popular, so beloved, and also so widely condemned by established financial institutions. It tears down the walls that separate the trading community from everyone else and makes it possible for pretty much anyone to take part in an activity that used to be confined to a select few.
In this sense, cryptocurrency is democratizing trading, and giving birth to a new generation of finance enthusiasts from all walks of life. But it isn’t perfect. In spite of everything, cryptocurrency trading is still difficult for the average person to get into, and the rich and powerful still have the edge.
Crypto is still exclusive
There are a few reasons why crypto is hard for the average Joe to break into. While just about anyone can buy and sell Bitcoin, Ether, and Ripple, it’s very difficult to manage more complex trades without specialist knowledge.
Executing a complex trade requires a fair amount of coding skill. You’re essentially automating the trade, so it will know when to sell, when to hold, how to monitor the market value of your chosen coin, and so on. This is a crucial part of trading crypto, because unlike Wall Street these markets never sleep. Crypto is 24/7, and anyone familiar with Bitcoin will be well aware of how rapidly and significantly things can change.
You don’t want to wake up one morning to find that you’ve lost everything you invested. So it’s important to have reliable trade algorithms to keep your money safe. What’s more, solid trading algorithms help guard against human error. People can be greedy, impulsive, and irrational — things machine rarely are.
The issue is, this is very difficult to do without extensive programming knowledge. Unless you’re a fairly advanced coder, or close friends with someone who is, your only option is to pay big bucks for one. Which means the wealthy have the edge, and ordinary people are excluded. Sound familiar?
In order for crypto to realize its potential as a more equal and fair way to trade, we need to iron out these issues and make it possible for normal people to get involved.
Democratizing automation
Gone are the days that trading automation and working algorithms are a privilege reserved for the rich and tech savvy. Projects like Capitalise believe in democratizing the crypto trading market by making it easier for non-coders to build trading algorithms and manage their finances more easily and effectively.
But what does that really mean? Well, instead of having to personally code a complex algorithm, Capitalise’s platform does it for you. Users type in their instructions in plain English and the software builds an algorithm to follow them.
This way, users can automate and fine-tune their trades, giving them control over what happens when they’re away from the computer and providing a more reliable and safe way to manage their crypto portfolio.
Best of all, it removes the need to spend big money on programmers and other experts. Anyone can use this kind of platform, so it isn’t restricted to a wealthy or technically gifted elite.
Blockchain and cryptocurrency as an industry is showing itself time and again to be a great way of leveling the playing field and making systems more democratic and decentralized.
In the spirit of this decentralization, it makes sense to build systems where even more people can get involved in a movement that is quickly redefining the way the world views finance.
Do they even have a usable platform or are they just selling mock up screen shots of vaporware?
The whole idea is based around a siri-like interaction where you have no idea of how your trade strategy is being executed, which is disguised under “making it easy to become a trader”. How does that make you a better trader when you still can’t read, understand basic indicators, know how to create a trade strategy, or even identify what is going on in the market.
I feel like a broken record, but I’ll stick with my current HaasBot trade bot setup, where I know exactly what is going to happen.
Fernando Martínez Gómez-Tejedor denounced a scammer in Europe who tried to make him invest money in a fraudulent business.