It is not uncommon for day traders and scalpers to become nervous wrecks who suffer from nightmares and trading blues. Many of them hope to find the perfect tool that can take the weight off their shoulders and do the job for
Meet Obi, your new trading bestie
OpenBlok, a cryptocurrency trading platform, has created such a tool and called it Obi. Obi is a Python based AI (artificial intelligence) trading bot who is programmed to recognize price fluctuation patterns and do the skimming for you 24 hours a day, 7 days a week.
Thanks to the comparatively high volatility of the crypto market which persists due to the still relatively modest trading volumes, Obi’s $20 million plus trading volume is expected to sway the market in the right direction.
Sort of like the high-frequency algorithmic stock trading supercomputers positioned as close to Wall Street as possible, skimming chump change non-stop and being responsible for 84% of all stock trades.
Except, this is the crypto market and everyone can take advantage of it.
Obi does it all
Obi executes up to 1200 trades per day, dozens of simultaneous trades at a time, and even does all the research for you while trading at the same time.
Using Obi is like having an entire team of traders at your disposal, doing everything from technical analysis to fundamentals, checking price history while analyzing the news, market trends, moving averages, volume, support, resistance, you name it.
Obi does it all, all the time, and all at the same time. How many people and hours would it take to get all this done?
Quick profits vs. research
In the world of crypto trading there are two types of traders:
– the ones who value research over quick profits
– the ones who value quick profits over research
The first group tends to spend an extraordinary amount of time researching a cryptocurrency before they invest and hold their position for a period of time, ranging from days to months or in some cases years. They don’t worry much about the ups and downs and instead wait to pocket double and triple digit percentage gains.
The second group tends to skip the research for the most part and opt to do a series of daily and weekly trades with the goal of skimming a bit on the way up, off the top and perhaps some more on the way down just past the top. As long as they sell for more then they bought, they’re in the green. The profits are thin and cumulative.
With Obi, you’ll be in the second group and Obi will be doing all the work for you.
Day trading percentages
For those unfamiliar with day trading, the percentage gains in a single trade can be anything from 0.5% to about 2.5%. So, let’s say, at 1200 trades/day, Obi manages to skim 1% on average, minus trading fees (0.25%-0.5%) and gives you 50%, you come out with a 0.3% daily profit x 30 = 9% gains for the month or 109.5% gains for the year if Obi produces a profit every single day.
A working product with a POS token
Obi has been fully tested and optimized for a couple of years now and is live and trading. OpenBlock is a working product ICO with a utility token, OBC, which is a POS (proof of stake) premined cryptocurrency.
The OBC token is expected to be available for trading on exchanges in Q3 2018. OBC staking and Obi trading apps will be available to the general public later this year and in 2019 OpenBlock will be issuing a debit card and expanding
Four ways to earn
There are 60 million OBC tokens. Unused/unclaimed tokens will be burned. The market price is expected to be at around $1.65 and you’re going to have to own a minimum of 5,000 OBC tokens in order to gain direct access to the Obi trading bot. So that’s an investment of $8,250 to be used for trading with Obi. According to the OpenBlock website, each day that Obi makes a profit, it pays out half of it to OBC holders. Your share obviously depends on how much you’re holding.
Not sure if those same tokens can be staked. Usually cryptocurrency used for staking is passively sitting in a wallet and accumulating a predetermined staking dividend percentage through nodes.
There is also an option to do mirror trading with Obi. That is to follow Obi and take the same positions, depending on how fast you can execute.
The third way to earn with OpenBlock is to buy OBC tokens, keep them in your OBC online wallet and collect dividends, i.e. stake OBC. The returns are as follows: 36% in the first year, followed by 20% in the second year, and 10% in the third year. The total OBC staking supply is set at 8 million OBC tokens. Once those tokens have been distributed, staking will no longer be available.
The fourth way to earn with OpenBlock is to spread the word about Obi and the ICO. OpenBlock offers a generous referral commission so that you can collect your OBC tokens by investing time rather than money and then make gains as described above.
Clearly, a tempting concept to anyone who has ever traded crypto.
The OBC staking node, by the way, is peer to peer, with encrypted data on a decentralized public blockchain with speedy transactions and an emphasis on privacy.
New to crypto?
Obi is great for people who are new to the cryptocurrency market and don’t have the time or the interest to learn how to trade but would like to participate nonetheless. Basically, you can trade like a pro even if you don’t have a clue what you’re doing because Obi does it all for you.
Citizens of Singapore and the United States cannot participate in the ICO.
The OpenBlock whitepaper isn’t your typical run of the mill PDF. It comes with a page turner which itself isn’t immediately visible. To turn pages you have to hover over the right side of the document. Here’s the link to the second page:
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