PredictionVC Launches Its First Trading Competition with $500 Worth of XRP as Reward

Cryptocurrency investment platform PredictionVC has announced the start of a crypto trading competition that will measure user-submitted trading strategies against each other. The first competition will run from Wednesday, May 30 to Tuesday, June 5, 2018.

Competitions will be conducted on a weekly basis, with the weekly leader receiving $500 worth of Ripple token XRP. Other tokens will also be up for grabs in these competitions, including Bitcoin, Ripple, Monero and more.

Those interested can participate in the trading competition by creating an account on PredictionVC and joining the project’s Telegram channel.

They will then automatically be registered for the trading competition, following which they can synchronise their primary exchange account. At this point, their trades will automatically be tracked – or users can use a virtual portfolio to test trading strategies instead.

Participants can check their position on the traders leaderboard throughout the week, and the winner will be announced at the end of the week.

There is no catch to participating in this competition. The platform does not manage or execute trades on behalf of users. It merely analyzes the user-contributed data to infer token price changes, which is shared with the rest of the community.

The gamified nature of the leaderboard incentivizes more users to join the platform, and a greater number of users corresponds to a more accurate prediction model, as there is more data for the price prediction deep learning AI model to work with. As a result, as more users contribute data and perform activity on the platform, trading becomes less like guesswork and more data-driven.

While a key feature of the PredictionVC platform is to make trading more accessible, it also wants to serve as an educational tool for investors. By opting to use virtual currency, investors can practice crypto trading strategies. This is especially helpful for new investors who have limited funds to work with.  

To make trading on its platform more convenient, PredictionVC is also available on mobile.

Click here for all the details of the trading competition and to sign up for free.

PredictionVC: Leveraging Human Insights and Computer Learning to Make Crypto Investing Smarter

PredictionVC is a crypto investment management platform that lets traders track their portfolio, connect to exchanges, and receive market moving signals and price forecasts.

The PredictionVC team has stated that their primary market is traders, both retail and institutional, and both passive and active investors.With their great range of services, the platform could potentially change the way investors approach investing.

PredictionVC aims to bring together researchers, traders, data scientists and bot developers with the goal of creating a platform that offers two major benefits: helping amateur investors by providing readily prepared investment strategies, and introducing seasoned investors to unique algorithm-driven strategies that will stretch financial performance.

With the advent of data science and machine learning algorithms, market prediction is increasingly veering towards AI-focused decision making. PredictionVC leverages the intuition of human users against the accurate prediction models of deep learning to aid investors in making smart investments.

To a large extent, prediction in the cryptocurrency market remains a shot in the dark; but even veterans like Vitalik Buterin have claimed that they are the better alternative to human pundits.

The necessary ingredients for such a platform include large volumes of data, and the availability of effective trading strategies and bot agents to execute those strategies. PredictionVC will hold all of these in ample quantity, as stakeholders can perform a series of actions to feed the platform’s AI with data.

Researchers can add and edit data on projects, for which they are rewarded. Currently, PredictionVC has information on 4,000 tokens and their portal has 10,000 blockchain team members. Top researchers will be listed on the Researchers leaderboard.

Traders are rewarded for sharing their trading data with the community. The platform also gains insight on how to weight transaction signals – buys or sells – from the community’s trading history.

Bot developers can use the PredictionVC’s API to access hundreds of data points and indicators to build trading bots. Submitted bots will undergo internal testing to evaluate financial performance. Developers of the best performing bots will receive monthly token payouts. A trading bot leaderboard will soon be launched.

Another feature that will soon be launched is a leaderboard listing the most accurate prediction models, These models will be constructed by data scientists who utilize over 50 data signals and indicators to improve the accuracy of the predictions.

The primary stakeholders in the PredictionVC ecosystem are researchers, traders, bot developers and data science experts. Albert, the project’s resident Artificial Intelligence application, will score contributions from these stakeholders and work alongside them to improve prediction accuracy.

Conclusion

Prediction markets are one of the most interesting applications of decentralized economies. PredictionVC is seizing on the potential of data science, and the marriage of AI and human intuition to make investment smarter and easier.

The fact that they hope to make to make the platform an educational tool for new investors is very welcome – newbies will have access to tried and tested strategies of experienced investors and the accuracy of machine learning algorithms. It will make trading an activity accessible to everyone and not just a select group of individuals — keeping in spirit with the democratic principle of blockchain technology.

Check out the PredictionVC platform for yourself by visiting the project’s website.

Related: Investment Risk Management: How To Approach Cryptocurrency Investing