Make more money trading crypto with KoCurrency market insights platform
- Your Guide to the Tax Rules Around Day Trading Crypto - March 23, 2020
- MyFX Markets Crypto Margin Trading - February 28, 2020
- Estonian Company ITEZ Enables BTC Trading Via Visa/MasterCard Credit Cards - January 24, 2020
KoCurrency is a crypto investment and insights platform that lets anyone benefit from the combined wisdom of top performing traders, while at the same time increasing their own knowledge and skills.
New and inexperienced traders can use the platform to access simple to use buy and sell signals to inform their own trading, as well as to access various educational content.
More experienced and skilled traders can earn money by sharing their own wisdom in the form of market predictions or in-depth articles.
Both groups can benefit from access to focused trading discussions and the wisdom of the crowd.
The platform also has its own crypto token called KoCoin, which can be held as an investment in the success of the platform.
KoCoin can be mined, purchased in a crowdsale / ICO called the ‘Initial Token Injection’, or (in the future) traded with other users.
There is a hard cap of 18 million KoCoins which can ever exist, meaning that increased demand due to use of the platform would be expected to drive up the price due to this limited supply.
The main use of KoCoin is as an access token within the KoCurrency platform to gain admittance to trading channels (more on this below) and to get access to premium content.
The current price of KoCoins in the crowdsale is $0.60, and you can also get some for free just by registering on their website. You also get some free ‘intelligence tokens’ which you can use to make your own predictions and profit from your skills if you are correct.
Insight Channels & Intelligence Contracts
Within the platform itself most of the activity takes place within dedicated channels focusing on a particular cryptocurrency. Currently there are channels available for Bitcoin, Ethereum, Ripple, Litecoin, Dash, NEM and Stratis.
There is a small cost in KoCoin for each channel you want to join, but if you want to take a look around then the free coins given out when you register are enough to get you started.
At the top of each channel are the ‘intelligence contracts’ which provide simple market signals while at the same time giving users the opportunity to test their skill and earn money by making predictions.
Each contract is a simple binary question with a yes or no answer. For example, “will the price of Bitcoin be above $2500 on July 7th?”.
Anybody can answer this question and pledge a certain amount of their intelligence tokens as a bet on their prediction being right. The more confident you are, the more intelligence tokens you should pledge when answering one of these contract questions. Unlike KoCoin, these intelligence tokens cannot be mined or purchased, meaning that the best market analysts will increase their stack and end up with more to pledge, while the worst performers will soon run out of tokens.
Machine learning algorithms take users’ past performance along with their answers and the number of intelligence tokens they are willing to pledge in order to assign a probability score to each contract. This score can be used as a trading signal by anybody who has access to the appropriate channel. For example, if there was hypothetically a 90% chance that Bitcoin would go above its current value within less than a week, you might decide that now is a good time to buy.
Winning bets are paid by taking the intelligence tokens from losing bets. These can then be cashed out, if you choose to do so, by exchanging them for KoCoin.
In addition to the binary buy and sell signals provided by these contracts, each channel also has a discussion section to talk with other traders about that market and an education centre so that traders can improve their own skills and read more about the analysis behind other traders’ predictions. Currently the content in these sections is rather limited, but should grow over time. Also, if you have your own insights to share then you can earn KoCoins by submitting your own articles.
The KoCurrency platform is obviously still at a relatively early stage in its development and currently does not have a large users base to draw on for predictions. In fact, they are only just on-boarding the first Beta release users right now.
But by providing a mixture of simple, actionable trading signals along with more in-depth analysis and educational resources the platform could become a great tool for investors and traders looking to piggy-back on the success of top performers.
At the same time, the potential for anybody with insight into these market to earn money in multiple different ways should attract a growing base of skilled traders looking to supplement their income over time.
Whichever group you fit into, I think its worth taking a look at and following as it grows. To learn more and give it a try visit: https://www.kocurrency.com/