ABOUT GET A BOT
Have you ever been in a situation where you bought a virtual currency, but you missed the best time to sell it and lost a lot of money because of your inexperience? But now, with AI technology, Getabot can help you! The company was initially founded by Jannik Rendes and Luca M. Woitzik.
Their plan is to build a trading Robo-Advisor that allocates the cryptocurrency portfolio in a way that minimizes drawdowns. The trading algorithm logs into the cryptocurrency broker's account via an API key and does fully automated trading from there. This way, you have access to your funds at any time and can track the bot's work.
Some people may hear this and wonder: why use a bot? Wouldn't it be better to entrust an experienced fund manager? A bot is a fully automated algorithm that performs specific tasks. Robots are responsible for managing your cryptocurrency portfolio. Especially in the cryptocurrency space, it is difficult to keep track of current market events and your portfolio 24 hours a day, 7 days a week. When you accidentally miss certain optimal times, you can incur substantial financial losses.
How does the robot work? The robot takes data and makes trading decisions based on previously defined and scientifically validated strategies. For example, in their prototype, the daily closing prices of various cryptocurrencies are used to determine if they are technically in an uptrend. If so, the robot secures the investment or else sells the cryptocurrency holdings.
There are still some points, where they have to work on: The business model and a AI solution for predicting cryptocurrency prices from a vast order data set. To overcome this difficulty, they have launched a BETA version of their product. In addition to that, they are participating in the KI-Garage project to get more ideas and extend their team.