12th INNOtalks, that was hosted by ABC Accelerator, was topic-wise so demanding that the standard format of an interview was largely replaced by a lecture.
The class was hosted by Gregor Boltar from an innovative company called PalmaBot. In order to explain their services, it was necessary for the audience to get a grasp of crypto currencies: how they work and most importantly, how to gain as much profit with as little time wasted as possible using PalmaBot.
According to Boltar, throughout history when money has been exchanged, there has always been a force to cover it. In other words, each currency has been, and substantially still is, backed up by the current powers e.g. countries or institutions.
Crypto, on the other hand, possesses no such force behind it. In a broad sense, we could deem it a currency that is strictly consensual, new and ever-developing. This, however, has led to the current status of crypto: there are more crypto-believers than professionals. The reason for that is that until recently we simply didn’t know if and for how long crypto is going to last.
Now that crypto has established itself, many people wonder how to make a profit from it. According to Boltar “it is hard”.
The most conventional way to earn money with crypto currencies is to become a daily trader. A daily trader sells the possessions when they have high value, and buys them when they have lesser value.
When you have made the decision to start trading, you have to choose the coin. There is no universal suggestion for the best. Boltar does, however, suggest that you consider the ones with the best service and support.
“After that, prepare yourself to lose the invested money. Ask yourself how much money you are willing to lose” Boltar warned. The point is not to scare anyone away, but for traders to know their limits and to minimize the potential damage.
Yet, the biggest challenge with trading crypto currencies is not the money invested or the lack of knowledge, but rather the lack of time. You can make what seems to be an endless amount of transactions each day and turn profit rather quickly. Trading with crypto currencies is, on the other hand, happening with speed of light. If you do not make fast decisions constantly and have fast reaction rate, it is harder to make money.
To make things ever harder, the trader should be acquainted with the most recent news regarding crypto currencies. This way it is easier to speculate, for example, about the price of the coins which will continue to rise or reach low bottom. Unfortunately, however, there is no such thing as universal news source on crypto currencies. Every given moment there are roughly 50 new articles concerning crypto on Google, out of which maybe one has an impact on the market.
Nowadays, there is a solution called PalmaBot for solving all the listed difficulties. According to Boltar, it is a brokerage firm in your pocket. It enables you to become the manager of your funds. In order to do so, you can execute your trades whenever you desire – via mobile application. PalmaBot also includes an integrated news bot that is constantly checking for relevant news and how the market reacts to them.
This way the user is always knowledgeable of the current status via notifications centre on his or her phone. All this in order to preserve our most precious commodity, time, and to give the final users a powerful set of tools.
There’s always a risk when trading with currencies – there is no possible way to avoid it. You can only hope to manage the risks, in which PalmaBot helps.
If this article has aroused your curiosity, you can always contact the PalmaBot team on Telegram via: https://t.me/palma11bot?start=INNOarticle