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Crystal Token – Virtual Staking Program for Smart Investments

Sanchit Ameria

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Crystal Token - Transforming the world with AI
Source: CrystalToken

Crystal Token, a revolutionary virtual staking program aims at providing its customers with a stable consistent income. Crystal Token plans on creating a gateway that can achieve its goal with the help of rich features available on its platform.

The company believes that the major problems that eventually led to the close down of lending platforms are long-term capital release, hidden business models, vertical management, single trading bot strategy, lack of constant customer rewards and limited ability to spend the token. To overcome these problems they are taking some revolutionary steps and are offering transparency, reliability and sustainability.

The platform has its very own dedicated bot which carries out the trading of cryptocurrencies automatically. Once the performance of the trading bot is evaluated, the platform will be offering automatic multi-currency trading to all customers by investing Crystal Token on their own platform.

The trading bot will be enabled to implement the automated Trailing Stop technique. This technique is well-known in the traditional financial markets, it follows the price action of a specific asset, keeps it when the price value increases and sells when it decreases more than a specific percentage and thereby minimizing the loss.

The platform will eventually have an innovative internal exchange which is based on the time window platform. Users will be able to buy and sell CYL [Crystal Token] and ETH within a time window and it eradicates the need of specifying the desired price. The platform assures that the price of the token will continuously oscillate until the end of the time window set purely on the basis of demand and offer.

Crystal Token will be taking one step ahead by involving artificial intelligence and machine learning techniques. With the help of time series data and textual news, the artificial neural network models, tree-based models and time-series forecasting models are created which in turn will be used to predict the market oscillations of cryptocurrencies.

With a combination of machine learning techniques and pure trading techniques, suggestions will be presented to all the users on which coin to invest in and the right time to invest in it and prevent the users from taking the wrong decision.

The token has laid down an illustrious plan of creating a marketplace where the users can make use of the token’s debit card and splurge their money in local or offline shops which will be present to all its customers in due time.

Crystal Token will also be offering its users ‘Trading as a Service’ feature which allows users to trade multi-currencies on various exchange platforms with the help of the trading bot and the token. In addition, users can also monitor trading transactions in real time on various exchange platforms after setting up their API keys for the various platforms. Users will be exempted from any fees related to the ‘Trading as a Service’ feature if they reinvest their profits in their program.

The Virtual Staking Program is designed for customers who are looking for a constant passive income source. Customers are provided with 3 different range of investments and each plan has an increasing benefit. The percentage of interest can even go up to 2% daily which depends solely on the market volatility and the trading operations.

The Virtual Staking Program is based on two different tokens: CYL token [Crystal token], the main token backed by ERC20, will be sold during the ICO, exchangeable for ETH and can be used to open a virtual staking contract; VCYL token, a virtual token which will be used to pay daily interests and referral bonuses, it can be converted to CYL at the current market price.

The AMBCrypto team reached out to the team to ask them some key questions about their token.

Question: How is Crystal Token planning on building and maintaining trust while remaining anonymous?

Answer: We are devoted to the community and we will put our best effort to succeed, building up a reputation with facts rather than names and faces, which absolutely do not guarantee the good outcome of the project. Although every ICO is risky, we believe that our whitepaper is rather detailed and unique, and we also detail our proposed trading algorithms in the dedicated Trading leaflet on our website.

Our platform has been built from scratch and it is already functional. From this point of view, we have worked for months before approaching the market, differently than many other ICOs that collected funds and put people on hold.

These facts should guarantee that our team truly has the expertise mentioned in the whitepaper and that the realization of what is mentioned in our roadmap is feasible. Our anonymity will be maintained until we have valid reasons to believe that revealing our identity will not constitute a risk for the continuity of the service.

Question: Why do you think it is the right time to start including AI and machine learning in your platform and how exactly do you believe that it will change the way of trading?

Answer: We had the opportunity to experiment the algorithms mentioned in our “Trading” leaflet in the context of research projects involving real-time data of different nature, and we obtained outstanding results. We believe that, given the high volatility of cryptocurrencies, using exclusively indicators as buy and sell signals or simple forecasting models, is seriously limiting in terms of profitability.

We have reasons to believe that coupling trading signals with volume analysis, sentiment analysis and ensemble learning techniques, will have the potential to allow for a much more accurate analysis and perform trades which consider many aspects at once, thus being more robust to the highly dynamic behavior of cryptocurrency time series.

Question: In the white paper, it’s mentioned that lack of constant customer reward is one of the biggest hindrances for a platform, how are you planning on tackling the same?

Answer: We totally believe in rewarding customers, especially those who support the project since the beginning. We are working daily to guarantee a number of rewards to early investors in our ICO. For instance:

  1. Random prizes at each ICO rounds, worth thousands of free CYL tokens
  2. Early access to our trading-as-a-service feature
  3. Lower fees in the exchange
  4. Exclusive promotional rates in our Virtual Staking program
  5. Access to a lower token price: Our exchange bot will work to protect our ICO investors and to sustain the price
  6. Early access to the marketplace
  7. Early access to debit cards

Question: What is the unique feature Crystal Token is offering its customers that haven’t been put forth in the market yet?

Answer: We believe that our platform offers different key features which makes it a valuable product in the market. In particular:

  1. Virtual Staking platform: The first platform proposing a staking program with a meta-currency tied to Ethereum
  2. AI-Driven Multi-Currency Trading Bot: it will be designed to guarantee the necessary income to guarantee the sustainability of the platform;
  3. Trading-as-a-service feature: It will allow us to become a utility token for smart investments exploiting advanced trading techniques;
  4. Time Window Based Exchange: A novel exchange model with automated strategies to sustain the price without compromising users freedom in trading;
  5. Community-driven platform: We will continuously add new features and every initiative will be tailored to the community. We continuously propose polls when any decision concerning the platform is required.

To know more about Crystal Token: Click Here!

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A part-time contributor at AMBCrypto, Sanchit is a IIM, Indore graduate with interests in the blockchain and cryptocurrency technology. His work has been published by Indian Commerce Magazine and a couple of other local publications. Sanchit currently does not hold any value in any cryptocurrencies or projects.

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Technology

China wants it fast and now – Orders to speed up Blockchain development

Sarah Rodrigues

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China wants it fast and now- Orders to speed Blockchain development.
Image Source: Pxhere

The largest country in the world has a positive outlook towards Blockchain technology.

The State Council of China has demanded that authorities need to speed up the development of Blockchain technology. The country’s central administrative branch of government first issued this order on 4th May 2018. It addressed various strategies that required continued reformation of the Guangdong Pilot Free Trade Zone.

The Guangdong Pilot Free Trade Zone is a free-trade zone is in the province of Guangdong, China sandwiched between Hong Kong and Macau to build a vast international free-trading market. It was authorized by the State Council in 2014 and officially launched on April 2015.

An official document stated:

“To build a regional equity market in Guangdong, according to the opening up of the capital market, timely introduction of Hong Kong, Macao and international investment institutions to participate in transactions. We will vigorously develop financial technology and accelerate the research and application of blockchain and big data technologies under the premise of legal compliance.”

However, the document does not reveal or contain any details on the extent of blockchain technology that will be used in the Free-Trade zone.

According to China’s Ministry of Information and Technology, the Guangdong division has 71 blockchain startups. In 2016, the concept of cryptocurrency and blockchain technology was introduced as a part of their 13th five-year economic development plan from 2016 -2020.

The Bank of China [BoC] recently announced the initiative to irradiate poverty through Blockchain technology in the region of Tibet, an autonomous region in China.

supreme-n00b, a Reddit user commented:

“China has done this many times before. It’s not that they’re scared of new technology. It’s that they have the population to turn their own copy technology into the status quo. Why open yourself to Twitter when you can create a billion-dollar brand by forcing everyone to use Weibo. Crypto is no different. The Chinese are going to choose and run with a coin and put it on WeChat – instant use by hundreds of millions of people. Yet another billion – perhaps trillion in this case -dollar tech. The biggest mistake the Russians and Indians ever made was allowing western internet access to their people.”

colivingclub said:

“This seems pretty familiar. China bans Google service and creates their own search engine Baidu. China bans Facebook and creates their own social network Qzone. Next step – own internal cryptocurrency? And this won’t even cause any surprise”

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Altcoins

‘The U.S SEC must regulate the cryptocurrency market to eliminate the bad actors’ – says Ran Neu Ner

Laira Rebecca

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‘The U.S SEC must regulate the cryptocurrency market to eliminate the bad actors’ - says Ran Neu Ner, the CNBC host
Source: Max Pixel

CNBC Fast Money, hosted by Melissa Lee, had Ran Neu Ner as the guest this time. Ran Neu Ner is a famous host of CNBC Africa’s Crypto Trader show and is the Founder of OnChain Capital.

The main topic of discussion was about “Is cryptocurrency market being manipulated?”

According to Ran, in the past, it was easier to manipulate the cryptocurrency market because there were a very few exchanges, a few on-ramps, and off-ramps. However, today with an overall market cap of $330 billion, it is a bit more difficult, because there are many exchanges and the volume of the digital currencies are much higher.

He also mentioned about the recent tweets that exposed a group, who is manipulating small penny tokens and how they got exposed for manipulating small e-liquid tokens.

Melissa further raised a doubt about how the market manipulation is occurring in deepest markets like London Interbank Offered Rate [LIBOR] and compared it with the U.S cryptocurrency market.

Ran mentioned that he is not sure about it, because the U.S. Securities and Exchange Commission [SEC] has not regulated Bitcoin and other cryptocurrencies.

Therefore, there are no regulated acts, under which the illegal terms can be questioned.

He says:

“what is the problem of driving the prices up? It is illegal in terms of what act? We are not a currency, not a commodity, we don’t know what we are.”

Further, they discussed, due to the uncertain market values of BTC and other coins, should the traders be cautious about what the SEC, U.S. Commodity Futures Trading Commission [CFTC] or the U.S Department of Justice [DOJ] is going to look at.

Ran says, when the SEC and other organizations come up with regulations, it is going to open the floodgates for new money to come in. He thinks that regulations are eminent and he expects SEC to quote new regulations for cryptocurrency and hopes that everyone will follow it.

Also, he mentioned that he would encourage crackdowns because they can catch the bad actors who create a lack of trust. To obtain a real asset class with real people, eliminating bad actors is very important.

Ran believes that people across the U.S are waiting for the guidance of SEC and they have a huge part to play in regulating cryptocurrencies, while other countries are already looking into various aspects of cryptocurrency and have started accepting them.

A cryptocurrency enthusiast says:

Always an interesting conversation when it comes to manipulation. The #Silver market has had a conspiracy theory about being manipulated for more than 10 years.”

Anthony Matthew, a business analyst says:

“BTCUSD barely broke lower than 7500 all day, despite well-known news of cryptotrade manipulation and DOJ + CFTC investigation.  I feel like I am trading in the stock market again, so I am buying Bitcoin at 7500.”

A cryptocurrency miner named Chad commented:

“Maybe the DOJ and @CFTC will crack down on manipulative paid Roger Ver shilling appearances too”

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