by Nuno Menezes
Cryptocurrency markets are today one of the ways of making some good profits with medium to small investments. The volatility associated with digital currency markets has become attractive to traders. But not only can you make a lot of money but same is true when it comes to losing a lot of money. The key to success in the world of trading is information and the way this information can be used to predict a certain event. And for that prediction markets have long proven to be incredibly valuable tools.
KoCurrency, a cryptocurrency trading and signals platform is now aiming to offer “the future of currency investment decision making”. This new platform was developed to provide the best information set to investors and help them to take the right decisions. Information is produced by gathering trading information from the expert trading community members, allowing for more accurate bitcoin price prediction. This is made by using the trading behaviour of some of the thousands of bitcoin and altcoin traders. The KoCurrency platform brings the functionality and accuracy of a prediction market to investors within the cryptocurrency niche. The goal is to create a platform designed to help crypto-investors make less risky and more profitable investment decisions. Every time a user pledges intelligence on a prediction contract within the platform, their selection is loaded with information, education, work experience, due diligence, data, insights and much more.
KoCurrency is designed around smart crowd technology and the team developed an algorithm which allows the platform to find super predictors within the community. They also designed it to separate signal from noise giving everyone a voice but always filtering out average or below average investors and zero’s in on the people with strong investment track records.
Benefits of Prediction Markets
In the crypto niche, investment opinions run wild, but investor track record is kept secret. There is no shortage of people who want to share their commentary or predictions regarding popular cryptocurrencies, however, this gives an opening for the spread of fake news. People who publish their opinions and predictions about these cryptocurrencies are not forced to publish their investment track record making it impossible to prove their own advice. There is currently no way to know which information is valid or not. It is difficult for investors to separate signal from noise since the current system is powered using author claims. This is the main reason the KoCurrency developers opted to set out to build a sort of Darwinian platform that is powered by proof.
How does KoCurrency Work?
KoCurrency was mainly inspired by the accuracy of prediction markets and other niches such as the copy trading stock market niche, where investment decision making patterns were not kept private. The goal was to design a platform that would help cryptocurrency investors maximise investment returns. Some of the copy trading platforms made decision making public. These markets technology was developed to help newer investors piggyback off the success of historically successful investors. And that’s why the KoCurrency team devised a platform that is able to use both these approaches. KoCurrency aimed to the development of a platform that made use of a more educational aspect of trading. The platform is currently limited to the exploration of cryptocurrencies; however, the team plans on branching out into fiat currencies in the future.
The KoCurrency platform will also introduce its own tokens to streamline the whole interaction process. The platform will be using an Intelligence coin and KoCoin tokens. The Initial Token Injection is ongoing, allowing you to purchase KoCoin’s, which are currently $0.60 each and have a maximum supply of 18 million. These tokens will be used to create an entire crypto-ecosystem that will be able to collect the crowd knowledge to predict digital currency price. The community will be able to wager the Intelligence coins and predict the price trend of bitcoin. The ones who are able to present the right forecast will be eligible to receive small portions of these Intelligence coins that were thrown in by the members who gave wrong predictions. The distribution will be proportional to the number of tokens wagered by the members giving the right information. As for the KoCoins, they will be used to transfer values from the platform. Users will be able to convert the Intelligence coin to KoCoin by going to the platform’s exchange.
The development team aimed to design a hybrid platform that mashed up the features of a prediction market, copy trading platform, educational platform as well as a social trading platform. By building a platform with all of these platforms features the team believes they can not only help provide clear and simple data driven investment insight but also help teach new crypto-investors about their particular topics of interest.
KoCurrency is still a new platform that is currently in its beta phase. The KoCurrency cryptocurrency price prediction platform will soon make it possible for everyone to access the right signals to help traders achieve positive results. With all these options KoCurrency will certainly become a one-stop-shop for all crypto-investor educational needs and insights into learning cryptocurrency trading.