The growing prevalence of artificial intelligence (AI) in the trading world presents investors with many new opportunities for trade automation. The cryptocurrency exchange, Coinbase, has decided to capitalize on this by collaborating with Coinrule, offering over a million retail customers tools that facilitate daily trading.
Coinbase Joins Forces with Coinrule in Implementing AI
Coinrule is a platform that offers automated strategies for the digital asset market,working with the most prominent exchanges worldwide. With the advancement of artificial intelligence capabilities, it has expanded its range of tools, which will benefit Coinbase Advanced customers.
Coinbase Advanced was formerly known as Coinbase Pro, which underwent a name change in 2022. Experienced traders can use its features, benefiting from a broader range of available instruments and more advanced charts. According to current Coinbase statistics, over one million retail customers are now using the Advanced features.
"We are immensely proud to be among the first trading strategies platforms to start working together with Coinbase Advanced. Helping retail investors access powerful AI tools is our mission," said Gabriele Musella, the CEO of Coinrule.
From now on, investors can utilize tools provided by Coinrule, which encompass three basic types of services. These include bots, a live market scanner, and pre-built AI strategies. Within Coinbase Advanced, investors can create up to 100,000 different automated bots or choose from a range of previously designed trading systems. The real-time market scanner monitors price changes for 2,000 different tokens and determines specific entry rules for potential positions.
"We want to give retail investors the tools to be able to compete with professional traders. Our integration with Coinbase is a major step forward on this journey," added Musella.
Coinbase's Significant Moves in North America
Thecryptocurrency exchange which Brian Armstrong led recently announced that brighter days are ahead after a series of regulatory challenges in the US. The platformhas received regulatory approval from the National Futures Association (NFA) to offer crypto futures to its US institutional customers.
This decision will undoubtedly help Coinbase regain some of its lost market share in the US cryptocurrency sector. Both Coinbase and Binance suffered significant losses after the SEC lawsuits in June, with the latter's market share in the local market dropping below 1%.
Meanwhile, the company has broadened its services to Canada in collaboration with Peoples Trust Company. According to Coinbase's statement, this partnership enables more users in Canada to access digital assets by simplifying transfers. However, a few days later, they had to suspend trading of prominent stablecoins, namely Tether (USDT), Dai (DAI), and RAI Reflex Index (RAI). This major move was reportedly in response to regulatory changes in the country.
This article was written by Damian Chmiel at www.financemagnates.com.
You can get bonuses upto $100 FREE BONUS when you:
💰 Install these recommended apps:
💲 SocialGood - 100% Crypto Back on Everyday Shopping
💲 xPortal - The DeFi For The Next Billion
💲 CryptoTab Browser - Lightweight, fast, and ready to mine!
💰 Register on these recommended exchanges:
🟡 Binance🟡 Bitfinex🟡 Bitmart🟡 Bittrex🟡 Bitget
🟡 CoinEx🟡 Crypto.com🟡 Gate.io🟡 Huobi🟡 Kucoin.
Comments