Crypto Trading Tools: RoninAi VS TradingView
In response to an article written on Bitcoinist, which you can read for yourself here, we have gotten many questions about how RoninAi stacks up against TradingView. We firmly believe that RoninAi is the best crypto tool for crypto investors, especially those who would describe themselves as being beginners or having intermediate skill level when it comes to navigating the crypto space.
“So my view’s quite clear. I believe cryptocurrencies, Bitcoin is the first example, I believe they’re going to change the world.”
– Richard Brown
Recently, TradingView, a social networking and analytical tools developer for financial industries received $37 million in funds in order to make TradingView into an essential crypto tool. This news was undoubtedly received well by those who trade traditional stocks with the aid of TradingView. However, there are strong indications that this move by TradingView is not what is best for crypto investors, especially those without years of experience in the market.
RoninAi, quite to the contrary, is built specifically for cryptocurrency trading, and was founded by a team made up of quant traders, PhD’s in topics such as Computer Science, Applied Statistics, and Machine Learning, and others with a massive amount of cryptocurrency experience between them. That know-how in the field cannot be replicated easily, and sets RoninAi up beautifully for the growing crypto space with its advanced cryptocurrency trading strategies and analytics.
Regarding RoninAi and similar valuable cryptocurrency tools, Bitcoinist concludes that “…those that take notice, both investors and tool developers alike, will reap the benefits that cryptocurrency as a unique asset class has to offer.”
First and foremost, TradingView is not, in its current form, a good tool for investment beginners or even some more advanced traders. Simply put, it’s not how TradingView is set up, and there have been very few, if any, signs that that will change.
“…Very few crypto investors, even the intermediates and those who consider themselves advanced, really understand how to interpret hard data. While TradingView is doing well to provide support and resources to the crypto community, it is not yet effective for the majority of crypto investors.”
– TradingView is Booming But Crypto Offering is Still Lacking, Bitcoinist
For example, RSI (Relative Strength Index) is a fantastic tool, particularly for traditional stocks, but it turns rather useless if the person analyzing it cannot understand and extrapolate from the raw data. One major way that the crytocurrency market deviates from the traditional stock market is in how social sentiment directly impacts the price of cryptocurrencies. A recent study done by Stevens Institute of Technology and three other academic institutions revealed that social sentiment is an important driver of crypto prices.
“Stevens Institute of Technology researcher analyzed 3.3 million tweets and 344,000 posts, verifies for the first time social media’s effect on cryptocurrency.”
A study of this size proved what RoninAi had already believed: that social sentiment is, if examined properly, a very important indicator of future price spikes or dips. Few tools, especially not TradingView, are even taking social sentiment into account, even after it has been proven that it is a crucial part of dictating crypto prices. What TradingView does offer is frequently not useful for users.
Again the Bitcoinist article raises a point that many in the crypto trading community have raised:
“Few tools give a complete picture of the market in a way that’s conducive to both beginners and more advanced traders.”
This is where RoninAi’s value-add is truly seen. RoninAi is specifically set up in a way that is easy to use and conducive to success for clients with any level of experience and know-how. RoninAi is able to achieve 3.0x return on investment when compared to the strategies, or lack thereof, that beginners are usually employing. Additionally, RoninAi is friendly, easy to use, and is specifically built to be accessible for trading beginners. The multitude of features of RoninAi all work towards making crypto trading easy and profitable for anyone. Null TX, one of experts’ go-to sources for cryptocurrency news, believes that RoninAi has the cutting edge technology and flexbility to be the best trading tool for every type of investor:
“The AI and ML elements of RoninAi appear to be closing in on the finished state and are likely to be more advanced and more powerful than any other AI crypto trading tool on the market currently. Unlike static algorithmic trading, this tool seems capable of adjusting to any market type.”
– Null TX
Secondly, TradingView is simply not built for the crypto world. As a company that has, until very recently, focused solely on traditional means of trading, TradingView is currently not equipped to make that large of a transition, as much of the value-add that TradingView offers cannot be carried over to crypto. Assuming that because TradingView has had success in the stock market that it will have success in the crypto market is certainly premature. Much of what TradingView brings to the table is based on the community at large, which as we have seen in the cryptocurrency space can be quite the inconsistent indicator of which cryptocurrencies are smart buys and which ones aren’t worth the hype.
TradingView moving into cryptocurrency is an excellent indicator that the crypto world is growing well. However, much of how TradingView is looking to attack the crypto world indicates that they are not the best option for those looking to invest in cryptocurrencies. Instead, RoninAi makes trading easy, intuitive, and lucrative for investors of all experiences and skill levels.