AI agents trading cryptos: Beware of common mistakes by rookies

Welcome, crypto enthusiasts! Have you heard about AI agents that are now trading in the crypto world? It’s a hot topic, with AI agents like Terminal of Truths promoting Goateus Maximus and the Luna bot tipping users for engagement.

Exciting, right? But before you dive in headfirst, there are some things you need to know.

Coinbase has introduced Based Agents, allowing users to create AI agents with crypto wallets in just under three minutes. These agents can conduct transactions like trading and transfers autonomously. It’s a game-changer, especially for meme coins, but the real potential lies in DAOs and DeFi projects.

Nick Havryliak, CEO of Assisterr AI, sees this technology bringing us closer to fully autonomous economic entities. But be cautious—many “AI” memecoin projects might just be humans pretending to be robots, and there are legal and security concerns to think about.

While the AI agent craze is attracting a lot of attention, it’s not just a fad—it’s part of a larger trend towards automation across industries. Crypto could be the key to giving AI agents financial independence. Since AI can’t access traditional money systems, cryptocurrencies provide a workaround.

For example, Luna, the top AI agent at Virtuals Protocol, rewards her fans with tokens to drive engagement. But not all experiences with AI agents have been positive, with reports of users losing money due to bots.

Remember, it’s still early days for AI agents in the crypto world. So, proceed with caution and keep an eye on developments to avoid any pitfalls. It’s a fascinating new frontier, but it’s essential to stay informed and be mindful of potential risks.