Vital Interactions: GPT & Crypto Collaboration

Cryptocurrency is slowly changing the financial landscape, bringing complex concepts and opportunities that need understanding. To keep up with the industry, whether by understanding new terminologies, exploring crypto projects, or even conducting advanced trading, you’ll need to use tools that give you power.

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ChatGPT is one tool to pay attention to. If used properly, it can help you gain powerful and actionable insights. But you must know how to ask questions the right way. Here are examples of clear and specific crypto prompts you can start with.

1. Analyze a Token

• Prompt: I’m a crypto investor. I came across a new token that’s gaining traction. It’s 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 set it apart from other tokens in the market. Additionally, discuss its performance trends over the past six months, considering factors such as market capitalization, trading volume, and community engagement. Provide insights into the token’s potential for growth and any challenges it may face in the ever-evolving cryptocurrency landscape. Break down the analysis into sections for easy reading.
• Result:
  

There are thousands of crypto tokens listed on CoinMarketCap. Analyzing these tokens 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

• Prompt: I’ve been trading cryptocurrencies for a year and saved $10,000. I want to start doing advanced trading to grow my portfolio to $100,000 within the next year. Help me develop a strategy for the top 10 cryptocurrencies focusing on risk management and maximizing profit potential. Please provide a clear plan that outlines:
  • 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:
  

Whenever you want to upgrade your skills, you easily get overwhelmed with every detail you must consider. In this case, the prompt will help you narrow down these details, so you can focus on the most important aspects.

3. Summarize a Whitepaper

• Prompt: Assume I am an 18-year-old with basic computer knowledge. I want to understand Bitcoin’s whitepaper. Summarize the key concepts and innovations presented in the paper in an easy-to-read manner. Provide a concise overview of the objectives, technology, and problems it aims to solve. Describe how Bitcoin is intended to be used and how different it is from government currencies and other cryptocurrencies. Ensure 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 whitepapers. Use this prompt to summarize any crypto whitepaper and get a quick, firm grasp 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.

• Prompt: I have a Solidity source code copied from an Ethereum smart contract. Please review the code and inform me of any security vulnerabilities you may find. Also, highlight the potential results of using the smart contract.
  • * Source Code *
• Result:
  

This is perhaps one of the most ingenious ways to use ChatGPT in crypto. Considering the many scams in the industry, it’s wise to complete a technical analysis of every 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 Explanations

• Prompt: Help me understand Zk Rollups. Tell me what they are, how they work, and their benefits and concerns, and list a few examples. Also, how will they impact the blockchain industry in general? Ensure your explanation is simple, clear, and well-structured.
• Result:
  

The cryptocurrency industry is fast evolving. 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’ll come across many such crypto terms that need some explaining, and this prompt helps you to understand them better.

6. Make Investment Strategies

• Prompt: I’m interested in earning passive income, and I’ve opted to invest in crypto staking. Currently, which cryptocurrencies are most secure and offer the most attractive returns? In addition, could you provide a detailed analysis of these cryptocurrencies mentioning their historical annual percentage yield, potential risks, token lockup periods, and security measures in place to safeguard my investment? I would also like to know the minimum requirements to participate in these programs and any associated fees. Break down the analysis 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 great companion. This prompt, for instance, can help you get started with crypto staking the safest way.

7. Create a “Getting Started” Plan

• Prompt: 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 in 6 months. Include essential resources, recommended online courses, best practices, and practical coding exercises to build a strong foundation in developing smart contracts on the Ethereum blockchain. Additionally, include 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 prompt (or similar) can get ChatGPT to design a great plan specifically for you.

8. Brainstorm Token Project Ideas

• Prompt: I want to create a new cryptocurrency token project to solve a real problem. I need some brainstorming assistance for innovative and practical ideas. My primary interests are in sustainability, financial inclusion, and education. Can you propose three unique token project concepts, each tied to one of these areas? Briefly explain the problem each project addresses, the potential benefits and impact, and how the token would function within each system.
• Result:
  

Sometimes, we fall into a creativity rut. Don’t let it stop you. You can use this type of prompt 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

• Prompt: I want to launch a new cryptocurrency project. Please provide a step-by-step guide for launching a successful crypto project. Include all stages I must go through and highlight potential challenges and how to overcome them at each step. Lastly, include best practices for maintaining transparency and building trust with potential investors and participants.
• Result:
  

If you’ve got a crypto project idea to solve whatever world problems you can conjure up, this prompt lets ChatGPT break down the process of successfully launching your project.

10. Role-Play Anyone for Their Crypto Opinion

• Prompt: Assume you’re Vitalik Buterin. I will ask you a few questions about decentralized finance. Tell me what you think.
  1. What is the main advantage of DeFi over traditional finance? Conversely, what’s the main risk?
  2. While cryptocurrencies were developed to decentralize finance, 63% of Ethereum’s computing power is controlled by two mining pools. What’s your opinion on that?
  3. How do you see DeFi evolving in the next five years?
• Result:
  

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Yes, you can have fun with ChatGPT too. This prompt exemplifies 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 Prompts Are Like Cheat Codes

ChatGPT crypto prompts can be likened to cheat codes. They significantly reduce the time and effort you need to become informed. In this age, promptly getting the most important information is crucial. Hence, using the power of ChatGPT to make your crypto journey more enjoyable is a wise move.

But please note that using ChatGPT for crypto analysis is just one part of the puzzle. You shouldn’t rely on ChatGPT for analysis because of its limited dataset and its well-documented issues with hallucination. Furthermore, nothing replaces the research you should do before investing any money in crypto!

​The information on this website does not constitute financial advice, investment advice, or trading advice, and should not be considered as such. MakeUseOf does not advise on any trading or investing matters and does not advise that any particular cryptocurrency should be bought or sold. Always conduct your own due diligence and consult a licensed financial adviser for investment advice.

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ChatGPT is one tool to pay attention to. If used properly, it can help you gain powerful and actionable insights. But you must know how to ask questions the right way. Here are examples of clear and specific crypto prompts you can start with.