Signals Network ICO Review | Is It Worth Investing?
Trading bots are computer programs that use various indicators to recognize trends and automatically execute trades. While algorithmic trading software has been used by hedge funds in the equity, commodity and currency markets, trading bots for private investors first appeared in the foreign exchange trading space. They quickly made their way into the crypto asset market. Signals Network (SGN) aims to build a decentralized blockchain based platform and marketplace to help traders to discover, create and monetize cryptocurrency trading strategies driven by data science. It sounds bold and will it work? Is Signals Network ICO worth investing? Stay on and read our unbiased Signals Network ICO review.
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Signals Network ICO Review
You may have heard about cryptocurrency and people earn their living through cryptocurrency trading at home. Cryptocurrency trading is the Forex (Foreign Exchange) of cryptocurrencies of all the 900 (or more) coins in the market. This means you are able to trade different Bitcoin and altcoin normally for USD and BTC.
Cryptocurrency trading can be extremely profitable if you know what you are doing, but it can also lead to disaster. A trader without such experience cannot fully monetize the potential of his knowledge of the market. As a result of that cryptos remained a privilege of a restricted group of people.
Signals Network is a project that aims to bring all these privileges back to everyone who is into crypto trading. Signals is a blockchain based decentralized platform that focuses to introduce traders oriented network through which traders are allowed to trade crypto assets following exceptional trading algorithms. That also means traders can use trading bots to buy or sell different trading strategies.
The platform intends to equip traders with data science and computational power so they can make quick trading decisions to have maximum profits. It also provides a learning mechanism and in-depth trading analysis accompanied by the state of the art trading algorithms that help even novice traders to trade effectively.
How Does Signals Work?
If a retail investor were educated on the crypto topic and wished to create their own algorithmic strategy, they face several hurdles such as the lack of high-fidelity historical market data and low-latency access to successfully execute their strategy in real-time.
Signals allows users create algo-trading models without having a knowledge of programming. Users can select from a range of indicators such as technical analysis and deep learning based on media-oriented monitoring and link them together.
Signals integrates several key and useful features on the platform to aid traders to maximize their profits such as:-
- Programming-free model building: People using Signals will be able to create models without needing to program. They will offer a GUI containing common technical indicators, so users can easily and quickly translate their trading logic into algorithms without the hassle of programming pipelines to obtain such data.
- Free access to backtesting data: Signals will automatically provide an environment to test out strategies. People will not have to pay for this data, so they will be able to easily determine which of their strategies work and under which circumstances.
- Model hosting: The Signals platform will host and run your models, using an off-chain computation platform like iExec. You do not need to pay for a server to host your trading bot, and you will not need to worry about latency issues.
- Model sharing: Once users have created models, they can share these with others and monetize their sharing. Users not interested in developing their own trading strategies can choose to copy-trade other users’ successful models. This facilitates knowledge-sharing in the platform and allows people to share their success with others in exchange for compensation.
Signals is designed to connect communities of data scientists and developers with crypto traders. Developers and data scientists will be able to encapsulate their code into visual components – indicators – which then could be monetized in “Indicator marketplace” and used by crypto traders to assemble their own strategies in a special visual editor – Signals Strategy builder.
The piecing together of data and indicators to create a strategy takes place on the Strategy Builder. The two main components of each plan are the indicators and signals. Indicators are blocks of code that you get from the Marketplace.
On the builder, all you have to do is drag and drop indicators that you purchase from the Signal Indicator Marketplace and after that define the conditions, the indicators ought to be in for a signal to be triggered.
Is Signals Network Worth Investing?
Signals can be a potentially huge platform stems from the technology it has developed because machine learning algorithms will be available to anyone, which enables them to create trading strategies from a broad range of specific trading indicators such as crowd wisdom insights, historical data and generate revenue through offering the algorithm generated by the user for copy trading.
Secondly, the ‘marketplace for data or information’ carries with it an extremely rewarding potential for monetization if data sets that correspond to external vendors and users.
Not only that, the ‘marketplace for strategy’ is the exciting icing on the cake, it allows the use of copy-trading which a highly useful for most efficient of traders.
Behind Signals Network, there is a team of 20+ machine learning, blockchain, and trading experts along with developers and growth hackers experienced with enterprise solutions.
Overall, it has a sound workable objective with a well-planned fundraising schedule. It can potentially be the market leader in the cryptocurrency world.
Signals Network ICO
Supply: There will be a total token supply of $18,000,000 worth of SGNs. The ICO plans to observe a hard capping $18,000,000 with a minimum fundraising target as $2,000,000.
Token Name: SGN
Usage: SGN tokens empower its holders to assemble their own crypto-trading models based on premium indicators developed by data science community, perform complex machine learning experiments using supercomputer on historical data, or rent and copy-trade other successful strategies in Signals marketplace.
ICO Launch: 12th of March 2018
ICO Finish: 9th of April 2018
Platform: Ethereum (ERC20 Token)
- 50% tokens are planned to be distributed to the public to subscribe
- 20% tokens are planned to be reserved for the ICO community to offer rewards to data scientists and developers
- 18% tokens are planned to set aside as company reserve
- 10% tokens are planned to be distributed to partners and advisors of the Company
- 2% tokens are planned to be distributed to offer rewards and bounty programs