xcapit, the startup with a bot to invest in cryptocurrencies
Contxto – Xcapit. No, it’s not a typo, mind you.
But rather, a startup from Argentina that’s combining artificial intelligence (AI) with the cryptotrade market.
This combination led to a digital broker named “Brainy”. And this algorithm oversees and advises users on how to invest in digital assets.
At the moment, trades operated with Xcapits’s AI is on Binance’s cryptocurrency exchange platform.
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Cryptocurrency trade bot
The startup’s broker crunches through real-time data and then provides recommendations afterwards.
According to the startup, a user need only indicate their aversion (or fondness) for risk, as well as the amount they want to invest, and the duration for which they want the investment to run (either for 30 or 60 days). The funds are drawn from the investor’s e-wallet, after which, the algorithm takes it away.
Likewise, the user can tell the program when to stop investing in case they’ve achieved a certain goal or hit their loss limit. Automation at its finest.
And like many brokers, Xcapit charges users a fee over their earnings.
This fintech was part of The Founder Institute’s incubation program in 2018.
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To invest or not to invest?
Making an investment always has its share of risks.
Factor in something that’s relatively new and unregulated in many parts of the globe like cryptocurrencies, and what do you get?
A double-edged sword. On the one hand, you are exploring uncharted territory prior to others catching on (including legislators). But on the other, there’s a lot of uncertainty as to their value.
Many Venezuelans use cryptocurrencies not to invest, but instead to protect their purchasing power.
Some investors, like Warren Buffet and Ray Dalio, choose to avoid them altogether. Suggesting they aren’t too keen on them.
Others, like Richard Branson and Elon Musk show an interest in digital assets, but are elusive in directly endorsing them.
Regardless of who weighs in, for the moment, the use of cryptocurrencies is rising in Latin America.
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-ML
