BlockBank launches DeFi application with Robo Advisor
BlockBank, a large mobile banking platform, has announced the launch of its DeFi application which will combine decentralized finance with AI-powered technology to help traders and investors make better trading decisions in the crypto market.
The mobile app is expected to be unveiled by the end of the year and would look to combine the traditional finance with DeFi in an innovative manner along with a Robo advisor that would be driven by artificial intelligence and tiered rewards system that would generate up to 20% APY. The Robo advisor is expected to reduce the time that the traders and investors need to spend in market research and is also expected to make trading decisions easier and more reliable across a range of crypto markets including Bitcoin and many ERC20 tokens. The bank also has its native token, which is called BBANK which can be used for transactions on the platform and would also be used across platforms as well.
Robo advisors are gaining a lot of traction in the trading market over the last few years, along with social trading, as the amount of data and the number of instruments has increased manifold during this period. It has become very difficult for traders to be able to digest and analyze all the data that is being thrown at them and this has made the traders look towards Robo advisors to help them analyze the data, do the market research and make trading decisions that can be relied upon.
As far as the crypto market is concerned, the growth of Robo advisors is still an ongoing phenomenon and there is still a long way to go. Most of the current ones are adaptations of what works in the other markets and are rarely tailored towards the crypto markets and their volatility. So, the traders and the investors need to be careful when picking and choosing the right Robo advisors to ensure that they don’t risk too much of their funds and also take into consideration the volatility in the markets that are not generally seen in the other markets. If this is done, then it would be easy for the investors to get good returns from the market as the crypto markets grow and matures.