Cryptocurrency is slowly changing the financial landscape, bringing complex concepts and opportunities that require understanding. To keep up with the industry, whether by understanding new terminologies, exploring crypto projects, or even doing advanced trading, you will need to use tools that empower you.
ChatGPT is one tool to pay attention to. Used correctly, it can help you gain powerful and actionable insights. But you need to know how to ask questions in the right way. Here are examples of clear and specific crypto assignments to get you started.
1. Analyze a sign
Questions: I am a crypto investor. I came across a new sign in progress. It is called “Theta Token”. Can you help me analyze the utility and value proposition of the token and its underlying blockchain? Describe its key features, use cases, and any unique characteristics that differentiate it from other tokens in the market. Also discuss its performance trends over the past six months, taking into account factors such as market capitalization, trading volume and community involvement. Provides insights into the token’s potential for growth and any challenges it faces in the ever-evolving cryptocurrency landscape. Break the analysis down into sections for easy reading. Result:
There are thousands of crypto tokens listed on CoinMarketCap. Analyzing these signs can be challenging. But you can simplify research with ChatGPT Plus, which allows you to use ChatGPT crypto plugins to access the latest real-time data.
2. Learn to do advanced trading
Questions: I traded cryptocurrencies for a year and saved $10,000. I want to start advanced trading to grow my portfolio to $100,000 within the next year. Help me develop a strategy for the top 10 cryptocurrencies that focuses on risk management and maximizing profit potential. Please provide a clear plan outlining the following: Key technical indicators and chart patterns for identifying entry and exit points Best strategies for risk management and diversification How to execute trades and adjust the strategy in response to market conditions A list of Common Crypto Trading Mistakes I Should Avoid . Result:
When you want to upgrade your skills, it’s easy to get overwhelmed with every detail to consider. In this case, the message will help you to narrow down these details, so that you can focus on the most important aspects.
3. Summarize a white paper
Questions: Assume I am an 18 year old with basic computer knowledge. I want to understand Bitcoin’s white paper. Summarize the key concepts and innovations presented in the paper in an easy-to-read manner. Give a concise overview of the goals, technology and problems it aims to solve. Describe how Bitcoin is intended to be used and how it differs from government currencies and other cryptocurrencies. Make sure the summary is accurate and avoids any ambiguity. Result:
With many crypto projects in the market, you don’t want to spend thousands of hours going through endless white papers. Use this message to summarize any crypto white paper and get a quick, firm understanding of what the project entails.
4. Review smart contracts
Note that for the following we tested the source code of a smart contract listed on Etherscan.
Questions: I have a Solidity source code copied from an Ethereum smart contract. Please review the code and notify me of any security vulnerabilities you may find. Also highlight the potential results of using the smart contract. Result:
This is perhaps one of the most ingenious ways to use ChatGPT in crypto. Considering the many scams in the industry, it is wise to complete a technical analysis of each smart contract you wish to use or participate in. Paste the smart contract into ChatGPT and let it tell you if it’s malicious.
5. Get Crypto Terms Explained
Questions: Help me understand Zk Rollups. Tell me what they are, how they work, and their benefits and concerns, and give some examples. Also, how will they affect the blockchain industry in general? Make sure your explanation is simple, clear and well structured. Result:
The cryptocurrency industry is developing rapidly. A few years back we thought Bitcoin’s only use was as a store of value and currency. Today courtesy of Bitcoin ordinals, Bitcoin can now support NFTs. Often you will come across many such crypto terms that need to be explained, and this post will help you understand them better.
6. Make investment strategies
Quick: I’m interested in earning passive income, and I’ve chosen to invest in crypto. Currently, which cryptocurrencies are the safest and offer the most attractive returns? Also, can you provide a detailed analysis of these cryptocurrencies stating their historical annual percentage return, potential risks, token lock-up periods and security measures in place to protect my investment? I would also like to know the minimum requirements to participate in these programs and any associated fees. Break the analysis down for easy reading. Result:
If you want to take control of your financial future and have chosen cryptocurrency as the tool for growth, ChatGPT can be a good companion. For example, this command can help you get started with crypto staking in the safest way.
7. Create a “Getting Started” plan
Questions: I want to learn how to code in Solidity. I have a coding background in HTML, CSS, and JavaScript languages. However, it’s been three years since I last coded. I need a personalized step-by-step plan to help me get started with Solidity and master it within 6 months. Includes essential resources, recommended online courses, best practices, and hands-on coding exercises to build a strong foundation in developing smart contracts on the Ethereum blockchain. Also includes tips on debugging and common pitfalls to help me navigate the learning process smoothly. Result:
The crypto industry is growing, and more professionals will be needed to help develop solutions. So, if you need a guide on how to get started with anything in crypto, this message (or similar) can get ChatGPT to design a great plan specifically for you.
8. Brainstorm Token Project Ideas
Questions: I want to create a new cryptocurrency token project to solve a real problem. I need a brainstorming assistance for innovative and practical ideas. My primary interests are in sustainability, financial inclusion and education. Can you suggest three unique drawing project concepts, each linked to one of these areas? Briefly explain the problem each project addresses, the potential benefits and impact, and how the token will function within each system. Result:
Sometimes we fall into a creativity rut. Don’t let that stop you. You can use this type of incentive to brainstorm ideas that run the gamut from crypto projects to meme crypto coins. ChatGPT is your oyster.
9. Get guidelines for launching a project
Questions: I want to start a new cryptocurrency project. Please provide a step by step guide for launching a successful crypto project. Include all stages I have to go through and highlight potential challenges and how to overcome them at each step. Finally, include best practices for maintaining transparency and building trust with potential investors and participants. Result:
If you have a crypto project idea to solve whatever world problems you can, this command lets ChatGPT break down the process of successfully launching your project.
10. Role play anyone for their crypto opinion
Ask: Assume you are Vitalik Buterin. I will ask you a few questions about decentralized finance. Tell me what you think. What is the biggest advantage of DeFi over traditional finance? Conversely, what is the greatest risk? While cryptocurrencies were developed to decentralize finance, 63% of Ethereum’s computing power is controlled by two mining pools. What is your opinion about it? How do you see DeFi evolving in the next five years? Result:
Yes, you can have fun with ChatGPT too. This prompt is an example of how you can turn ChatGPT into a crypto thought leader and get their opinion without DMing them on social media. You can even go further and generate a conversation with two personalities.
ChatGPT Crypto commands are like cheat codes
ChatGPT crypto prompts can be compared to cheat codes. They greatly reduce the time and effort you need to get informed. In this age, it is essential to get the most important information immediately. Therefore, it is a wise move to use the power of ChatGPT to make your crypto journey more enjoyable.
But please note that using ChatGPT for cryptanalysis is only one part of the puzzle. You should not rely on ChatGPT for analysis due to its limited data set and its well-documented problems with hallucination. Furthermore, nothing replaces the research you should do before investing any money in crypto!
The information on this website is not, and should not be construed as, financial advice, investment advice or trading advice. MakeUseOf does not provide advice on any trading or investment matters and does not recommend buying or selling any particular cryptocurrency. Always do your own due diligence and consult a licensed financial advisor for investment advice.
Disclaimer for Uncirculars, with a Touch of Personality:
While we love diving into the exciting world of crypto here at Uncirculars, remember that this post, and all our content, is purely for your information and exploration. Think of it as your crypto compass, pointing you in the right direction to do your own research and make informed decisions.
No legal, tax, investment, or financial advice should be inferred from these pixels. We’re not fortune tellers or stockbrokers, just passionate crypto enthusiasts sharing our knowledge.
And just like that rollercoaster ride in your favorite DeFi protocol, past performance isn’t a guarantee of future thrills. The value of crypto assets can be as unpredictable as a moon landing, so buckle up and do your due diligence before taking the plunge.
Ultimately, any crypto adventure you embark on is yours alone. We’re just happy to be your crypto companion, cheering you on from the sidelines (and maybe sharing some snacks along the way). So research, explore, and remember, with a little knowledge and a lot of curiosity, you can navigate the crypto cosmos like a pro!
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