Top 5 Questions of Pionex AMA on Reddit
On August 26th, we held an AMA in the biggest crypto community on Reddit. It was a blast answered all the questions from our users and people interested in trading bot.
Below is the top 5 questions and answers. You can also read the full article here and leave your comment on Reddit.
Answer 1 from Pionex
I’d say there are two different kinds of bots overall in the market.
1/ Bot that follows signals to buy and sell for you.
2/ Bot that makes repetitive tasks/trades
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For the first kind of bots, or I’ll say it’s a strategy, people won’t disclose the strategy to the public cause they prefer to keep it themselves and create a managing fund. So they raise funds from VCs, and that’s their business model.
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The second one, it’s more like a tool for executing repetitive, time-consuming tasks. And this is the type of bot we built at Pionex.
Let me take an example of dollar-cost averaging. You can definitely do it manually, like every day or week. But, with a bot that helps you recurring make the trade, and even with a premium feature like double the amount of DCA when RSI is lower than 40.
Due to the 24/7 nature of the crypto market, we believe these automatic trading tools/bots can make it easier for crypto investment. That’s why we built Pionex and the trading bot.
Answer 2 from Pionex
For the existing bot on Pionex, it won’t predict the trend for you. You still need to do that by yourself.
But what we might do next is to implement trading signals to the platform. But still, it doesn’t mean it can 100% helps you to spot the trend. It all depends on the quality of the signals/strategies. The plan is to invite trading experts in the space and help them to launch their strategy with a subscription system for their fans.
Answer 3 from Pionex
RIP Mr. Goxx 🙏. No bot will ever outperform the legend but we believe our bots come in at a close second 😉.
But in all seriousness, our grid bot specifically helps you automatically trade within a set range. For example, from April 21 – April 22, our ETH bot returned 50%, and ETH prices stayed flat. If you were holding, you would’ve made 0%
Answer 4 from Pionex
Imagine everyone just placing a buy order for Bitcoin at $15,000. Then the market will be a flat line without any fluctuations.
But the reality is that there are plenty of speculators aping in and out the market, so we profit from those emotional trader.
Answer 5 from Pionex
1/ How do you see your company evolving in the coming years?
We see an increase in the need for a smarter way to invest. Crypto is volatile, people need solutions to protect their assets and get rid of their FOMO emotions.
The funny thing is all the giant companies in the space all focus on building hype. Provides higher leverage for gamblers, shilling coins and projects, you name it! From a long-term perspective, these are just hurting the investors and the early adopter like you and me.
So Pionex only focuses on building tools that help people have a better life with their crypto investment, not anxiously watching the chart every day.
2/ What areas of growth are you focusing on?
Definitely for the US market in the coming two years. We have been dominant in the Asia market as a trading bot exchange.
3/ What are the biggest sector needs and challenges you see to widen crypto adoption and how is your company and its services meeting those needs and challenges?
I would not say we’re helping directly with blockchain adoption from what we’re doing. (cause we didn’t do much on building the blockchain and ecosystem.) But from an investment perspective, we’re helping more retail investors have a better experience with their crypto investment.
Read all the 300+ comments and discuss with 5.3 million crypto investors directly on Reddit: https://www.reddit.com/r/CryptoCurrency/comments/wyadum/hey_rcryptocurrency_we_are_pionex_we_made_trading/
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