Mastering cryptocurrency trading requires a significant amount of knowledge, experience, access to data, and testing. In order to succeed on the cryptocurrency market, it’s necessary to invest a large amount of time into the perfection of your trading strategy.
A well-rounded cryptocurrency trading strategy incorporates both fundamental and technical analysis, and can be executed in a variety of different methods. Some traders prefer slower-paced medium and long term investments, while others prefer to operate in a high-frequency, high volume environment that necessitates the use of automated trading bots.
Creating effective, reliable crypto training bots is a complex task, and necessitates a massive amount of data analysis. There are currently a range of different forums online in which users share trading experiences and advice with each other, and even a number of different blockchain-based projects that allow users to purchase or rent bot trading strategies from one another.
A new blockchain based project, however, is aiming to create a comprehensive platform on which users are able to connect with one another, access a massive amount of information that can be used to refine their trading strategies, program highly intelligent and effective crypto trading bots, and more.
The Simdaq platform is about to launch an initial coin offering in order to generate the capital necessary to develop a range of different tools for crypto traders. In this article, we’ll take a look at the Simdaq platform and find out what it plans to offer. We’ll also examine the specifics of the Simdaq ICO to help you determine whether it’s worth investing in.
What is Simdaq?
Simdaq aims to create not only a set of cryptocurrency trading tools, but an entire ecosystem for individuals that are interested in cryptocurrency trade. The Simdaq platform is focused on providing users with a wide range of different functions, tools, and resources that can be used to optimize cryptocurrency trading strategies.
Just some of the key features of the Simdaq platform include opportunities for users to share experiences and ideas, both individual and group idea exchanges with mentors and peers, case analysis, paper trading tournaments, trading signals and robots, and even the live streaming of trading.
All of the content provided on the Simdaq platform will be community-created, and is intended to be presented on a wholly-decentralized marketplace. Evgeniy Dubovoy, one of the founders of the Simdaq platform, has commented on the target audience of the project:
“Retail traders and investors who use cryptocurrency exchanges are the main audience for the platform. According to various estimates, the number of active market participants is between 3 and 6 million. The system may prove valuable to funds that accumulate investors” capital for investments into crypto assets,”
The upcoming Simdaq ICO follows a lengthy development process that has already been undertaken by the creators of the platform. To date, Simdaq’s creators have already sunk more than $1 million in the development process. In addition to assisting traders in refining their cryptocurrency trading strategies, Dubovoy states that the platform will help the cryptocurrency industry itself mature:
“According to UBS Investment Bank, 70% of new market participants lose money. We want to help them by using our team”s experience in the stock and cryptocurrency markets to create a convenient and powerful product. Even if you don”t plan to become an active trader and only perform transactions from time to time, Simdaq will provide useful tools for optimising your activity. We create an ecosystem that allows each participant to develop himself/herself and gain a benefit from it. Currently, there is no similar comprehensive system that, with the help of efficient technologies, can lead a trader from initial to advanced stages,”
The Simdaq Platform
The Simdaq platform will consist of three primary elements:
- A Trading Simulator that incorporates historical market data that allows new traders to develop basic trading skills and develop a deeper understanding of the cryptocurrency market
- A decentralized Simdaq Marketplace that will facilitate the dissemination and sale of knowledge, experiences, trading bots, and more within the Simdaq community. Members of the Simdaq community will be able to share strategies and mentor each other as well as partake in trading tournaments.
- A visual environment that can be used to create trading bots or generate algorithms that dictate automated trading decisions, as well as the ability to test them against historical data.
The Simdaq ICO
The Simdaq platform will run on the SMQ token, which will be available during the token sale for a price of $0.50. Users will be able to use SMQ to pay for the annual Simdaq subscription fee of 25 SMQ, reward community members for contributions to the Simdaq marketplace, purchase trading robots and signals, contribute to tournaments, backtest trading robots, publish content on the Simdaq marketplace, promote their content, and more.
The Simdaq ICO will launch in December 2017 and run for four weeks, in which 25,000,000 SMQ will be generated. BTC, ETH, LTC, DASH, WAVES, BCH and fiat will be accepted as payment methods during the crowdsale. 70% of the total generated SMQ will be distributed to investors, with the remaining 30% spread between a stabilization fund, the Simdaq team, and a bounty fund.
Final Thoughts On Simdaq
Simdaq appears to be an extremely promising initial coin offering that could potentially spark a revolution in automated cryptocurrency trading and bot generation. As the Simdaq platform is backed up by a professional development team, a comprehensive white paper, and a detailed roadmap, it’s clear that it’s set to be a contender for one of the most successful ICOs in the first quarter of 2018.