Traditional stocks trading and cryptocurrency have always been somewhat similar industries, and maybe that’s the reason why they’ve spent so much time at loggerheads with one another.
The feud between traditional finance and crypto has hardly been kept secret, with regular media stories about high-profile bankers and traders denouncing cryptocurrency and vice versa.
Part of the reason for this animosity is that crypto has, since day one, been undermining the exclusive world of finance. Crypto offers a way for people who aren’t particularly finance-savvy, wealthy, or well-connected to trade and make money.
And they have made lots of money. Nobody is sure exactly how many ‘Bitcoin millionaires’ – people who made their fortune from trading the cryptocurrency – exist, but there are believed to be quite a few.
Despite all this, crypto trading isn’t perfect. There are still some significant barriers to people trying to get into the space, especially those without any prior experience or backing.
In order to restore crypto’s spot as an accessible market for everyone, it’s important to focus on those barriers and work to remove them.
What are the current issues?
First, it’s important to note that crypto trading is way easier to get into than traditional stock markets. There are a number of reasons for this, one of which is that you don’t need a huge amount of financial experience to start trading cryptocurrencies.
Perhaps even more importantly, you don’t need a great deal of money to get started either. Anyone with internet access and a little tech and finance knowledge should be able to buy and sell Bitcoin, Ether, or any other coin without much difficulty.
However, buying and selling is one thing but to actually trade successfully is quite another. For this, you really need reliable, automated trading algorithms.
These are used widely in all types of trading, and big financial firms tend to rely pretty heavily on automation to stay at the top of their game.
But for crypto it’s arguably even more important. That’s because, unlike fiat trading, cryptocurrency is a 24/7 market — it never sleeps. And thanks to its notorious volatility, it’s impossible to know for sure when a big market shift is going to happen.
It could happen at 3:50am. And not even the most dedicated trader is likely to be alert and watching at that time. So, it’s crucial to automate the process with algorithms.
The trouble here is that algorithms are tricky to put together. It requires a decent coding background, or the ability to pay someone with a decent coding background to work for you.
That brings us back to square one — where the rich and well-connected dominate the markets. That’s not what cryptocurrency has ever stood for, and it feels like a step in the wrong direction.
But what’s the solution?
Democratizing crypto trading automation.
The key to overcoming these issues is making algorithms and bots accessible to all. Until this is done, ordinary people will always be at a disadvantage to those who can access the means to build effective algorithms.
Capitalise is one platform that’s aiming to give non-coders the ability to build and design their own automated strategy easily. All that’s needed is to enter instructions in plain English, and the SaaS program will put together an automated trading strategy that can be connected to any exchange and ready to roll.
The instructions can be simple or complex, and will allow people without much of a tech background to produce algorithms that were in the past restricted to the more experienced. It helps level the playing field, and gives a much-needed boost to those who need it.
Even better, in the future the platform will allow users with successful algorithms to sell them on to other members of the network. This creates a kind of trading community where people can make money from their success and help others. The current Capitalise beta is running and is available for everyone.
This sort of community represents a return to crypto’s original values. The space started life as a challenge to the structures of traditional finance, a place where ordinary people could make fortunes from their laptops.
Now, it’s in danger of going the way of old-school trading, the sole domain of the rich and influential. Platforms like Capitalise are helping to stop that, and ensure this market remains open to everyone in the future.
It’s a lofty goal, but an important one if crypto is to remain distinct from its financial rivals and stay true to its principles.
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