How To Automate Your Crypto Purchases
Recently, many have begun to think about profitable entry points, and this guide will help you figure out how to automate your cryptocurrency purchases using various methods.
An experienced trader will probably find this article boring, as there will be nothing new for them, but young crypto enthusiasts should find a lot of useful information in it.
What is the best way to automate cryptocurrency purchases?
Of course, the best way to automate your purchase of cryptocurrency is to use exchanges. Right now, CEX and DEX aren’t much different. They all now have a trading order book for placing buy/sell orders.
The trading depth is a tool on exchanges that reflects a list of all orders that have been placed in advance, that is, you do not need to wait for the asset to reach a certain price for you – you can independently place an order to automatically buy or sell cryptocurrency.
There is also another tool called buying by trigger, in this case your order will not be in the trading order book, but will be created only when the asset will have a price determined by you in advance.
Steps to Automate Your Crypto Purchases
- Create your account on the exchange
- Make a deposit
- Identify the best entry points by placing buy orders at strong support levels
- After your buy order is executed, place the sell order just below the resistance level.
Do you think it will be beneficial for investors to automate their crypto purchases?
Automation of the purchase of cryptocurrency is the only reliable tool of the investor. There are many strategies related to buying cryptocurrency when predicting such a scenario in the market. These strategies include DCA or buying by ladder, when you place buy orders several price levels below the previous one. Such work should be carried out with full concentration and without emotions or entrust it to a specialized program – trading bots.
Trading bots can work in several modes and, depending on the situation on the market, will automatically place orders to buy and purchase cryptocurrency completely autonomously.
Do you think you will ever automate your crypto purchases?
If you are already asking yourself this question, then this is a good sign – a real investor has woken up in you. You want to be in full control of your purchases and can do it yourself or with the help of trading bots.
Disclaimer: This article is not a financial recommendation, and it is based on the opinion of the author. The author may or may not have holdings in any of the cryptocurrencies mentioned here. Any investment decisions made by readers should be based on the reader’s personal investment objectives and financial situation, and should not be taken as financial advice from the author.
About RoboFi
Robofi is a Defi platform that envisions a marketplace for revolutionary Dao crypto trading bots. Through its IBO (Initial Bot Offering) system, community members can maximize their earnings in an easy, simple, and secure way. We create a safe and transparent environment based on blockchain technologies that help developers bring crypto trading bot platforms to the market. In addition, individuals will have easy access to these bot applications, thereby generating more earning opportunities. RoboFi ecosystem is fueled by the VICS token.
About VICS
VICS token has a distinctive and enticing concept. VICS is the BEP-20 token, built on the Binance smart chain. It is a core utility token in the RoboFi ecosystem, the reliable crypto trading bot marketplace. One important utility is to own the governance token of DABots and participate in an IBO (Initial Bot Offering) to receive additional incentives. VICS is available on major exchanges for trading.
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I'm Carina, a passionate crypto trader, analyst, and enthusiast. With years of experience in the thrilling world of cryptocurrency, I have dedicated my time to understanding the complexities and trends of this ever-evolving industry.
Through my expertise, I strive to empower individuals with the knowledge and tools they need to navigate the exciting realm of digital assets. Whether you're a seasoned investor or a curious beginner, I'm here to share valuable insights, practical tips, and comprehensive analyses to help you make informed decisions in the crypto space.
