How ChatGPT benefit crypto investors? Experts say 'can maximize profits'

livemint.com:

In a very short span of time, the artificial intelligence chatbot ChatGPT has evolved in countless ways making humans work smarter and quicker. The impact of ChatGPT can be already felt across almost all industries and that also includes crypto and blockchain industries. Punit Agarwal, Founder KoinX said, while cryptocurrency, a blockchain technology, is open-source (like Bitcoin), there’s a lot that ChatGPT could do with it.

According to KoinX founder, even though ChatGPT can’t really forecast any market trends or predict the growth of any virtual digital asset, it can still help you understand data and analyse cryptos and related technologies for you, at least until 2021.

The crypto market can have a huge transformation because of ChatGPT. Kumar Gaurav, Founder & CEO of Cashaa believes that ChatGPT’s effective analysis and automation capabilities can help transform the crypto market.

Kumar added, "Chatgbt is using real time analysis of the market trends and can guide investors in making strategic decisions that can maximize profits and opportunities. However is it important to admit that ChatGPT has limited understanding and the responses given are not an understanding of the text that it is processing."

1. Understanding cryptocurrency - Even though there are abundant guides across the internet to understand blockchain technology better, ChatGPT makes it fairly easy to understand, even for new entrants. Personalised prompts could generate personalised responses. Users that are new to the space can now easily understand complex terms like mining, hashing, or smart contracts.

2. A better technology - As ChatGPT is evolving, its use cases have spread to improve trading bots and even assist with smart contracts. It can