If you are wondering how to make and how to sell a crypto trading bot, then RoboFi is the right place to look for answers. In this guide, we will cover everything there is to know about crypto trading bots.
In the last couple of years, the use of cryptocurrencies has been authorized by several nations. Instead of fading out, crypto is being gradually accepted as an alternative form of currency. The features offered by blockchain technology make cryptocurrencies secure.
This, paired with their volatility, has resulted in people trading crypto daily. Before we learn how to build a crypto bot, let us discuss why crypto trading is getting so popular.
Cryptocurrencies are volatile. In a matter of minutes, cryptocurrencies can jump double digits. Their dynamic nature has garnered the interest of both short- and long-term investors from all over the world.
People who are involved in daily trading are sometimes able to profit enormously. Since cryptocurrencies sometimes change within a fraction of seconds, we humans have started using crypto trading bots to automate the process.
1. Crypto bots can help with portfolio management.
2. Crypto bots can set profit and loss margins automatically.
3. Crypto bots can help to analyze and interpret market statistics.
4. Crypto bots can calculate potential market risk.
5. Crypto bots can buy and sell cryptocurrency assets automatically…How To Built Crypto Trading Bot
Follow the steps below to build a crypto trading bot that suits your needs. You can develop a customized crypto bot by downloading and building an open source bot such as zenbot.
1. Decide the language you are going to use
2. List all the exchanges you want your bot to work with
This is one of the most essential things when deciding how to code a trading bot. List down all possible exchanges you want your bot to work with. Doing this will make it clear to the developers on what services you will use.
3. Create accounts on the listed exchanges
The next logical step is creating accounts on all of the crypto exchanges your trading bot will access. Sign up with all exchanges you will use and make use of their APIs. Some common crypto exchanges include Binance, Kraken, Coinbase, Bittrex, Poloniex, and etc.
4. Pick the type of crypto trading bot you want to make use of
Before you develop a crypto bot, choose the type of bot trading strategy you will use. Just remember that a complex algorithm will require more time.
5. Determine the architecture of the crypto trading bot
The architecture will determine the success of your crypto bot. Make sure that the algorithm you are using for your bot has a solid foundation. Otherwise, you might lose money. The process involves deciding what type of data you want your bot to work on. Some examples include historical trends, market analysis, and determining market inefficiencies.
Coding is undoubtedly the most crucial part of the process. Communicate your expectations with the development team and discuss what technology you want to use. An experienced team of developers will help you with everything, right from the algorithmic complications to UI creation.
Once you are done with coding, make sure to test your bot before deploying it. The process involves two functions: make sure that your bot works as intended and does not falter or encounter any bugs. Test if your trading bot can handle complex data. The first stage involves evaluating overfitting and “risk vs. reward” functions.
Fine-tune the performance of your cryptocurrency bot. Optimize your bot by adjusting the parameters according to your preferences.
8. Deployment process
The final stage of making a crypto bot is deployment. An excellent mobile app development company provides support for some time, even after the app is released. This allows the business to migrate smoothly. Sometimes, enterprises encounter an error or a bug after the app is launched.
The deployment process helps fix any errors or bugs that might have crept in during the testing phases. It also helps the company understand the product better so they won’t encounter issues when taking charge of the maintenance process.
Please join the Robofi community and follow RoboFi’s social media channels to get the next tutorial “How to Sell Crypto Trading Bots.”
RoboFi (www.robofi.io) 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.
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