The prices of cryptocurrencies are known to be extremely volatile, and significant price shifts can occur even within the span of a few minutes. The trading of cryptocurrencies can take place anywhere in the world and at any time of the day or night. This gives investors a lot of flexibility. The cumulative impact of these issues has a limited influence on the efficiency of human trading of cryptocurrencies in many different ways.
Investors are frequently unable to respond rapidly enough to price shifts to execute trades that are best for their portfolios. Investors are unable to commit the amount of time to the bitcoin markets that would be required to consistently make the best trades. The monitoring of cryptocurrency exchanges worldwide, at all hours of the day and night, would be necessary to accomplish this goal. This is where automated trading bots for cryptocurrencies come into play. They are only automated tools that trade on behalf of human investors and carry out transactions on their behalf.
How to Identify a Good Automated Crypto Trading Platform?
When looking to purchase a trading bot, it is imperative that you remember these three points at all times:
Several legitimate businesses provide services for trading cryptocurrencies using bots. Because these businesses are concerned about their reputations and customer feedback, you can be sure that they will not provide you with inaccurate information.
Some businesses also make use of seasoned traders with years of market experts who are also proficient in programming or who at the very least are
Those who have experience with bots will be able to tell you a great deal more about them. A review written by individuals who have already utilized the trading bot is important and is a good way to check out what previous and current users have to say about the product.
Request the trading history of a cryptocurrency trading bot before making your final decision. It is gambling to put your money on a bot that you have no knowledge about, which is why you should avoid doing so. The performance history of the trading bot over a period of time will give you an indication of what to anticipate going forward.
You should only base your decision on a crypto trading bot’s past, regardless of whether you go with a free or paid option. If you plan on developing your own trading bot, you should backtest it over a substantial amount of historical data or, at the very least, use it on a demo account for some time to ensure that it functions properly before putting any of your own money at risk.
When looking for a trading bot, you should always exercise patience. You need to examine everything, as a badly automated crypto trading bot might cause a solid approach to producing terrible returns, and this is why you need to check everything. Before putting any of your trading funds in danger, you should diligently conduct thorough research.
Best Automated Crypto Trading Platforms
Automated trading bots for cryptocurrencies are very smart, data-driven, and data-driven. They may produce better outcomes than manual trading. On your behalf, a bot will open or close positions in the market whenever it identifies a potential buying or selling opportunity.
Crypto bots are designed to work with particular markets and to implement particular trading strategies, such as a “Buy Low, Sell High” grid on the spot trading price of crypto coins or even on the futures markets. These bots are designed to work with particular markets and are designed to work with particular trading strategies. However, there are some bumps in the road ahead. The rules that you establish and the market conditions of whatever it is that you are trading both have an impact on the results that you see. Take a peek at some of the top crypto bots that are currently available.
RoboFi is a decentralized exchange (Defi) platform that intends to create a market for cutting-edge Dao crypto trading bots. Members of the community have the opportunity to increase their profits in a hassle-free, uncomplicated, and risk-free manner by utilizing its Initial Bot Offering (IBO) system. We assist developers in bringing crypto trading bot platforms to the market by generating an environment that is secure and open to the public, which is based on blockchain technologies. Additionally, individuals will have simple access to these bot applications, which will result in the creation of other options for making money. The VICS coin is what drives the RoboFi ecosystem forward.
Gabriele Mella, Oleg Giberstein, and Zdeněk Höfler established Coinrule in 2018. It lets cryptocurrency investors create and test automated trading strategies to capitalize on market opportunities. The bot offers over 150 template methods and reacts to market movements. The bot maximizes earnings by managing volatility without programming.
The free Starter package lets you set up two live rules, two demo rules, seven template strategies, and one connected exchange. It has a $3k monthly trading volume. The Hobbyist, Trader, and Pro packages cost $29.99, $59.99, and $499.99 per month, respectively.
After three months, Trustpilot users are delighted with Coinrule. Most crypto coins are supported. Coinrule partners with Binance, BitMEX, Bitstamp, Bittrex, Coinbase Pro, Kraken, and Poloniex.
Amsterdam-based brothers Ruud and Pim Feltkamp founded Cryptohopper in 2017. Automatic trading, crypto signals, risk-reducing features, trading bot templates, technical analysis, and backtesting are available.
Cryptohopper’s Pioneer Plan includes a 7-day free trial with 80 positions, a maximum of 15 selected cryptocurrencies, two triggers, and one simulated trading bot. The Explorer, Adventurer, and Hero/Pro Trader packages cost $19, $49, and $99 per month, respectively.
Cryptohopper has over 500,000 users and many online reviews. It supports most exchange-traded cryptocurrencies, including BTC, XRP, ZEC, XMR, LTC, and DASH. Binance, Binance US, Coinbase Pro, Bittrex, Poloniex, Kraken, Bitfinex, Huobi, OKX, KuCoin, Bitvavo are supported.
Established in 2017 in Tallinn, Estonia, 3Commas is a digital currency trading platform. In addition to being a marketplace, it also provides trading bots equipped with predefined methods for automated trading.
Although it is not called a “trial,” there is a free version of the bot that is available indefinitely. Accordingly, one SmartTrade, one DCA Bot, one Grid Bot, and one Options bot can all be operational on the same account. Prices range from $29 for the “Starter” plan to $49 for “Advanced” and $99 for “PRO.”
On Trustpilot, users have given 3Commas a rating of 4.2 out of 5, and the majority of the reviews are good. Each of the available brokerages supports the vast majority of the most popular cryptocurrency tokens. Coinbase Pro, Binance, BitMEX, Bitstamp, FTX, Bittrex, Kraken, and others are among the brokers that provide this feature.
To begin, Pionex is a Singaporean startup that opened in 2019. The grid trading bot, infinity grid bot, leveraged grid bot, and margin grid bot are just some of the trading bots that can be found there.
Not only is there no free trial, but there is also no ongoing cost either. In its place, it levies transaction fees of 0.05%. On Trustpilot, Pionex has a 3.3-star rating. Both the support staff and the withdrawal process pose significant problems, according to actual users.
Pionex supports more than 250 different tokens, including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Dogecoin (DOGE), Uniswap (UNI), and Tether (DT). Binance and Huobi provide liquidity for Pionex.
Bitsgap is a robotized trading platform that keeps tabs on Bitcoin and more than 1,800 other cryptocurrencies. Bitsgap is an Estonian startup that opened its doors in 2017.
There is a free trial of 7 days’ duration, in addition to a demo practice mode. Bitsgap has three different pricing tiers available. Prices range from $29 for the most basic plan to $149 for the most robust plan.
Bitsgap is rated 3.6 out of 5 stars by its customers on Trustpilot, with some users reporting issues with the company’s customer assistance and default settings. Binance, OKEX, KuCoin, Kraken, FTX, Coinbase Pro, and more than twenty-five additional exchanges and exchange platforms are all supported.
TradeSanta, a 2018 cloud cryptocurrency trading software, enables you to profit from crypto market volatility. The maximum plan includes limitless bots, pairs, TradingView signals, ctom signals, and Binance Futures.
Maximum package trial lasts 3 days. Three plans are available: the $14 basic plan, the $20 advanced plan, and the $30 maximum plan. Annual subscription pricing may vary month-to-month.
Trustpilot users give Tradesanta 3.8 stars out of 5 for its ease of use and maximum package utility. BTC, ETH, XRP, DOT, and others—including Altcoins—are supported. Binance, Upbit, OKEx, and Huobi support HitBTC.
Is automated cryptocurrency trading worthwhile?
It is contingent on a variety of aspects, including the length of time you have been trading, the size of your portfolio, and the amount of time you have available to trade manually. If you are just starting out as a trader, using a cryptocurrency trading bot may be an excellent way to get your feet wet and learn the ropes. They may assist you in making selections that are more educated and avoid you from making errors that are financially detrimental. On the other hand, if you are a trader with a lot of expertise and knowledge, you might not find the use of cryptocurrency trading bots all that helpful. This is due to the fact that you will already be aware of what conditions to search for and when the appropriate time is to execute a deal.
In the end, it all comes down to a question of personal preference and gratification. Go ahead and employ cryptocurrency trading bots if you are comfortable doing so. There is no harm in doing so. However, if you are unsure about them, it is in your best interest to avoid contact with them.
Trading cryptocurrencies involves risk, just like trading in any other market for assets. Cryptocurrency’s price volatility can be used in a number of ways, but investors must be careful not to put themselves in harm’s way. The development of crypto trading bots has greatly aided people who don’t want to be responsible for monitoring their holdings and trades.
How do you automate crypto purchases?
Most investment funds have never beaten the major market indices, a stark reality that has long been ignored. This occurs despite the fact that most funds are overseen by experts with years of expertise in the financial markets. The company’s success is due in large part to the contributions made by individual analysts, institutional traders, and investors.
The widespread usage of trading bots is a major contributor to the market’s inherent difficulty. Algorithmic trading software is used to take high-yielding trades. Because of the sheer volume of their trades, the market direction might be skewed in their favor if they have enough money.
A trading bot can increase a trader’s earnings in two primary ways:
It is common practice for traders to go with the initial choice when deciding whether or not to go through with a scheduled trade. This alerts the investor that the asset has reached the target price. Day traders in cryptocurrencies typically favor the first method since it provides intraday alerts without making a call for them.
Conversely, the second choice is preferred by traders who oversee multiple accounts and a large number of open positions. As a result, they can carry out transactions where they buy or sell at predetermined prices. For them, it can monitor a plethora of additional data points. It is capable of monitoring a wide range of market data, including trade volume, demand, moving averages, the relative strength of the trend based on buying or selling pressure, and price changes.
As an added bonus, a crypto trading bot can make a trade at the exact price you specify, even if you’re not paying attention to it. The command can be set with a single click utilizing a take-profit or stop-loss button.
Your stop-loss or take-profit price will be executed automatically by the trading bot the instant it is reached. Because of this, traders are less likely to be swayed by their feelings or second-guess themselves when making trading decisions.
The value of most cryptocurrencies fluctuates wildly. As of yet, it is unclear what underlying conditions and factors have the greatest impact on their respective pricing dynamics.
Another thing to keep in mind is that the bitcoin market never closes. Neither does it operate on weekends or holidays. It’s available all day, every day of the week. Traders need to keep their eyes peeled at all times because orders might come in from anywhere in the world, at any hour of the day.
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.
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.