Arena: The AI and Smart Contract-Based Cryptocurrency Trading Bot

[PRESS RELEASE]

The cryptocurrency market is known for the opportunities that it brings. These include the following. Unlike traditional Stock and Financial markets, crypto offers 24-hour and worldwide trading opportunities. It is still in its infancy and it has a long way to progress. Since Bitcoin was created in 2009, the market has definitely made a lot of people wealthy. Bitcoin, being the first cryptocurrency, has already seen a few bull runs. 

Despite many new riches which derived from the crypto market, quite a lot of people have lost money trading and investing in it. This is because they mostly bought digital assets when the prices were high or when the timing was hard when it came to trading and investing in the market. 

Being a market which operates for 24 hours per day and 7 days of the week, there are also a lot of risks. Satoshi Nakamoto, the pseudonymous creator of Bitcoin initially designed it as “Sound and Programmable money.”

And this is supposedly aligned with the vision of Arenabot – a program created to produce profits from the Cryptocurrency market, regardless of whether the sentiment is bullish or bearish. 

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Technology-Based On AI

According to the Future of Life Institute, most AI today is ‘weak AI’, or narrow AI where it can only perform narrow tasks (for instance, only internet searches or driving a car, or recognizing a face). The long-term goal, however, is to create general AI or strong AI, which would outperform humans in every cognitive task. 

Arena Trading bots represent systems that have integrated AI technology and they collect data such as matching the price, buying price, selling price, transaction volume, account balance data, transaction history and send it to the system in order to identify low buying and high selling price.

The main idea is that people have emotions and they could cloud their judgment and decision-making process. 

Being able to rely on AI-based technology to help you with trading is something that could, in theory, improve your odds. The bot supposedly ensures that you enter at a low buying price and exit at a high selling price. Upon identifying the right time to trade, the bot will also automatically send the orders to the exchange, hence reducing the need for intervention in general. 

Arbitrage Trading and Security

By building on a blockchain network, the system guarantees that the accounts and capital of users are safe. Profit distribution is implemented with a smart contract and registered on the blockchain. 

The arbitrage strategy takes advantage of the price difference between cryptocurrency exchanges. It’s to buy BTC listed on one exchange at a lower price and sell it immediately on another at a higher price to create profit. 

It’s known for high-frequency trading and in perfect markets. By using thousands of small differences every day, investors are capable of getting profits at low risk.

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Source: Crypto Potato