If you are a crypto trader, you need to know about NIO Suite. Not only for its efficiency but also for the precision of its AI-powered tools.
Most cryptocurrency traders will understand that there are three primary tools they can utilize to enhance trading; a technical and fundamental market analyzer tool, a reliable exchange platform, and a market sentiment analyzer.
NIO Suite brings you all three bundled on one platform so not only does this make trading more efficient, it makes it easier!
NIO Suite: A Multi-Functional Platform For The Efficient Crypto Trader
So in other words, NIO suite is a multifunctional tool offering its users efficiency by providing the three most important components for effective crypto trading, all on one integrated platform. But it is also free to use for anyone with an internet connection, so not only efficient, it’s also affordable.
Broken-down, the three products available in the NIO suite are:
- AutoNIO; an automated-trading tool
- NIOnet; a market sentiment analysis tool (also powered by AI) to help you achieve the most effective trades
- NIOdex; the suites own decentralized exchange
Let’s look at the three components a little closer.
The Autonio platform has been active since 2017 and boasts a current user-base of 3,052 — a number which is constantly growing. It can be downloaded (for free) from the Autonio website, which describes it as the “first decentralized AI trading application for cryptocurrencies”.
So, in essence, Autonio is an AI-powered trading robot.
To get up and running users pay a low $50 monthly subscription and are issued NIO tokens. With these, they can run the “live trading system” on their computer and build and optimize personal trading algorithms. Further, high-performing algorithms can then be bought and sold at the integrated Autonio marketplace, giving users another avenue for making revenue.
The interface is easy-to-use, houses a variety of features and at the time of writing, can be used with five major exchanges: BitFinex, Kraken, Bittrex, BitStamp, and QuadragaCX.
The link below will give a more detailed explanation on how to use Autonio:
But AutoNIO is growing, and an integration with NIOnet is on the way. NIOnet will bring sentiment analysis directly to the Autonio tool. But what is sentiment analysis? and why should you as a cryptocurrency trader consider it important?
Well, sentiment analysis is considered a valuable arsenal in a traders belt. Effectively, it involves the study of emotions and reactions happening across the market. Emotions can arguably be one of the strongest forces behind buying and selling decisions in any market. Making decisions based on the emotions of other traders, or the market as a whole isn’t always the right trading choice. Herd mentality plays a massive part in cryptomarkets, and the actions of other marketers can bring on the ‘fear of missing out’ or ‘FOMO’ as it is otherwise called.
NIOnet is the NIO Suite’s AI trading insight tool which allows users to create important sentiment analysis on supported trading pairs (of which there are dozens). This is done with the simple click of a button. These data-driven studies remove the emotion out of crypto trading, meaning users make a correct and informed decision based off of “quantifiable metrics” and not, FOMO!
The tool gives its users proven AI models, such as the popular Hidden Markov Model to analyze the latest market trading patterns and sentiment. NIOnet manifests these models in two specific offerings: Social Media Sentiment AI and Google Search Volume AI.
Along with Autonio, both segments in tandem will allow NIO Suite users to make strategic and holistically-informed trading decisions on one central platform.
This brings us onto the last piece of the puzzle, where users will be able to move their orders onto the suites own decentralized exchange; the NIOdex. Upon launch, both NIOnet and AutoNIO will be directly integrated with NIOdex completing the NIO Suite.
The NIOdex is an efficient exchange where users can securely trade and earn cryptocurrency. It is a secure and clever, peer-to-peer system built on the 0x protocol.
Decentralized exchanges can come with issues. Most notably: high latency, low volume, high network costs, and low liquidity. NIOdex was created to solve these problems. But how?
Well, the exchange uses a “hybridized design” approach. This means it centralizes superfluous exchange elements such as order matching but keeps the decentralization where it really matters; through the wallet-to-wallet exchange.
The NIO Suite has been carefully designed to put control back into the hands of its traders.
The current active component — the trading platform Autonio — aims to empower the community by providing the tools for financial independence, health, responsibility, and security. Its team wants to give the average trader everything they might need to compete effectively against the pros. But the pros are welcome too! This is a platform built “by the people, for the people and of the people” and stays very true to those values, so it offers a service where novices can feel comfortable trading assets as much as experts can.
In other words, the NIO Suite democratizes access to cryptocurrency trading. Its decentralized nature embodies the sentiment of the blockchain model; a platform that is governed by its users and not ever controlled by one singular, self-interested party. NIO Suite users will have a say in the future development of its infrastructure, ensuring the platform remains fair and equal for all.
In the words of the team behind the NIO Suite:
“The promise of decentralization and blockchain technology is a fairer and more just future. We want to give average crypto traders the ability to compete with wall street.”
Featured Image: Google Images/Steemit