How Blockchain Technology can help build a Community for Serious Crypto Traders

In recent months, cryptocurrency trading has really blown up. There’s been a massive increase in the value of coins like Bitcoin and Ether over the last year, and huge numbers of newcomers to the cryptocurrency market.

Despite this influx of new traders, there isn’t much in the way of communities for them. Most are left without any good way of sharing their experiences, learning from others, and seeking advice. The communities that do exist are generally devoid of statistical analysis and discussions about data.

That’s a problem for lots of reasons. It leads to crypto traders being confused, lacking direction, and losing money. It’s also hard to find real, data-backed guidance that isn’t pure hype or speculation, which makes things even more complicated.

Why are there so few spaces for crypto traders to come together and talk about the factual, evidence-based side of trading in this market?

The current situation

The cryptocurrency community is fragmented right now. It’s spread out across a range of forums, message boards, and social media sites. In these environments, the focus tends to be on hype and promotion.

Users talk about their own experiences and general trends, and discussions focused on actual data and analysis are few and far between. In fact, a lot of the discussion is driven by people with vested interests trying to promote their own side of the story.

It’s hard for most crypto investors to find clear, unbiased information that isn’t influenced by traders’ emotions or their agendas.

As a result, many investors are forced to rely on their own gut instinct, or the opinions of high-profile voices in the crypto sphere. Compared to data-based predictions, these are primitive ways to make an investment decision to say the least.

The frustrating thing is that there is a whole lot of highly useful data out there, but unfortunately it means very little to the average person. Data scientists are capable of understanding and interpreting it, but currently they don’t really play a big role in the crypto community.

That’s quite surprising, considering how important data analysis is in the wider financial sector. Large trading firms have been using algorithms and machine learning processes built by data scientists for many years — something that is only on the increase.

The pieces are all there. Could it be possible to build a crypto trading community where data scientists can use their expertise to help investors? A platform for trading cryptocurrencies that’s based on facts and data instead of hype and gut instinct?

Blockchain as a solution

Blockchain, the technology underlying cryptocurrency, could make this a reality. It allows us to build decentralized platforms — perfect for creating a democratic and fair environment for scientists and traders to share information and collaborate.

This is what Signals has been working on. They’re aiming to create a space where data scientists can use algorithms and machine learning to provide real help with cryptocurrency trading. Their expertise can be a valuable tool for traders who lack the skills to properly analyze the wealth of information out there.

By automating the trading process and shifting the focus onto hard evidence and data, Signals will help the crypto market move away from making decisions based on feelings and guesswork.

It’ll be a place for serious crypto traders to come together and work with real experts to separate gut instinct from data-informed trading models. To fuel this network, participants will be rewarded with SGN tokens which can be traded for other services within the platform.

While data-driven trading models and algorithms are a big part of what the platform will offer, Signals is more than just a toolkit for savvy investors. It will be a place for cryptocurrency enthusiasts to gather and discuss the market from a data-focused perspective.

It’ll also help shift the narrative in cryptocurrency away from gut-based decisions and hype to evidence-based models of trading. Many newcomers to cryptocurrency are yearning for a more empirical way of predicting trades and making decisions, but until now there have been very few platforms willing to do this.

It’ll help cryptocurrency as an industry become more credible and bring it closer to traditional methods of trading. It’ll also allow traders to make better decisions, avoid misleading hype, and make more money in the long run.

In a market that has become overrun with inaccurate claims and emotionally influenced decision making, this kind of platform could be really transformational.