The world of cryptocurrency has certainly gotten a lot of attention lately, and we have spilled a great deal of ink covering the price gyrations of Bitcoin and other popular online payment systems. But lost among all that reporting has been the experience of real users, many of whom are still confused about how to do well in the crypto-trading game.
Many long-time cryptocurrency traders do not fully grasp the high barriers to entry that others are facing. Cryptocurrency fans are, by their very definition, technologically astute, but not all would-be traders share their technical acumen.
Now a new startup aims to remove some of those barriers to entry, smoothing the playing field and making it easier for would-be traders to get in the game. That new startup is called Signals, and CTO Pavel Volek put its mission this way:
“Signals aims to disrupt the cryptotrading industry by lowering the barrier to creating algorithmic trading models. Signals is a playground for cryptotraders that enables anybody to experiment with different trading models and machine learning techniques in a special visual editor – Signals Strategy Builder. When you create your strategy you can then sell it to others for copy-trading. A unique concept of Indicator Marketplace enables data scientists and developers community to collaborate with cryptotraders by creating building blocks for their automated strategies. Signals enables them to code their own indicators in a Python-like language, wrap them into graphical components, and share them with traders in the marketplace. Weeks ago, we released an Alpha version of the Signals Strategies Marketplace, which has already more than 18,000 registered users.”
Anyone who is familiar with the traditional world of trading is sure to recognize this approach. Just as a stock market trader considers things like tolerance for risk and time horizon, cryptocurrency traders can use the Signals Strategies Marketplace to design the approach that makes the most sense for themselves.
Of course, it would not be a cryptocurrency startup without some level of technical jargon, and Signals is indeed no exception. The CTO of Signals is quick to point out the sound programming technology that underlies his company, and how that technological underpinning gives the firm a leg up on the competition. Volek put it this way:
“The idea behind Signals is based on modular framework written in C# which we have been developing over a year ago for monitoring cryptocurrencies movements by using various combinations of indicators. Last year we were extending this framework and at the beginning of 2018 we have released an alpha version of the Signals Strategies Marketplace, with multiple strategies composed in the framework and providing real-time trading signals based on data obtained from Poloniex.”
The recent runup in cryptocurrency prices has brought a flood of new investors and traders to the market, and the more recent decline in value has done little to chase those newbies away. No matter how the market for cryptocurrency ultimately plays out, one thing is obvious – there is still a great deal of confusion, and downright misinformation, about cryptocurrency and how to trade. There are already reports of scams targeting these confused would-be traders, and the problems experienced by some major exchanges just add to the confusion. By sorting through some of that confusion and creating a more user-friendly format for cryptocurrency traders, Signals hopes to change all that, making this new form of investment easier than ever before.
CTO Pavel Volek also points out the positive mission behind the creation of Signals. The goal of the organization is to provide access to the best of the cryptotrading industry. By integrating other successful blockchain solutions into the Signals platform, the company hopes to create a new and better platform for the trading of cryptocurrencies, one that until now has remained elusive.
Signals also hopes to speed the processing of cryptocurrency transactions, solving a problem that became all too apparent during the recent run-up in prices. When prices reached record highs last year, many traders and investors found themselves locked out of their accounts, unable to complete transactions or even purchase virtual coins.
In order to provide a faster and efficient crypto trading marketplace, Signals has partnered with industry leader Foxconn, and the firm plans to use the firm’s state-of-the-art data center, SafeDX. This partnership will provide Signals with a robust infrastructure, one that will allow it to build the best, and fastest, crypto trading toolset in the marketplace.
While the market for crypto trading is strong and Signals is well positioned, CTO Pavel Volek recognizes that the firm is not alone, and that there are plenty of competitors to contend with.
The Signals CTO explained:
“There are multiple other projects offering bots which send trading signals, but Signals is offering much more than that. Signals is playground where you can develop and monetize skills creating your own trading strategies, whether you are a data scientist or a regular cryptotrader without any coding knowledge.”
Volek went on to say he believes that this combination of offerings will provide a huge increase in value for those in the crypto trading world. By opening up the world of cryptocurrency and crypto trading to everyone, even those without technical skills, Signals hopes to create a whole new playground, one that is open to all.