How You Can Become a Successful Trader with Automated Crypto Trading Bots.
Are You Still Doing Manual Trading? You Might Regret It, keep reading…
Cryptocurrency is still in great demand now, mainly because people suddenly pick up on its importance and see it shaping the online currency system.
This article was published first on: CryptoDROI.com
Trading, in general, has also become a significant trend that a lot of investors are partaking in because of the strong returns that many cryptocurrencies have been displaying.
Although they provide many potentials, almost all cryptocurrencies are considered volatile. They provide significant risk, hence why many investors depend on others as well when making decisions.
Since not everyone is sure of what to do next, many investors have turned their attention to crypto trading bots.
These robots are automated crypto trading programs that do all the trading jobs for an individual, an ideal setup for investors to rest or sleep.
Crypto Trading Bots monitor everything from the market movements to the prices of current cryptocurrencies worthy of investing.
Depending on the circumstances, bots also buy and order for the investor, making it a lot easier than asking other people’s advice.
Table of Contents
- Advantages of Using Crypto Trading Bots
- Crypto Trading bots offer you a Safer Trading Experience.
- Your Trading Preferences Are Easily Met when you use a Crypto Trading Bot.
- Crypto Trading bots use Complex Trade Algorithms.
- Crypto Trading Bots Don’t Need Breaks.
- Crypto Trading Bots are Fast and Efficient
- Crypto Trading Bots Provide You an Entryway to the Market
- Crypto Trading Bot Examples
- Crypto Trading Bots Conclusion
Advantages of Using Crypto Trading Bots
There are more benefits for you to consider adding a bot to your investment arsenal, so here are some that could help you make a decision.
Crypto Trading bots offer you a Safer Trading Experience.
As aforementioned, there is a very high risk in cryptocurrency trading. It is not easy to predict the market movements because of how quickly things can make some changes and turns.
This risk has long been acknowledged by many; that’s why bots are here to compensate for that and to make people better traders.
However, there’s still no certainty on their results when it comes to bots, and they only make decisions depending on what data is presented to them.
Still, it is undeniable how much safer it is to go with a crypto bot’s decision rather than to go for a pure hunch that is often wrong more than a success.
Crypto bots also give investors much more freedom and options, especially those who are just starting up a cryptocurrency investment career.
For instance, some crypto trading bots offer demo accounts that let anyone practice investment without natural resources involved.
While they don’t necessarily emulate real crypto trading experiences with all the risks being added, it is still a great platform to gain knowledge, which is quite hard to acquire without assistance.
Your Trading Preferences Are Easily Met when you use a Crypto Trading Bot.
Trading preferences are significant to consider as they can dictate an investor’s success in the market.
Nearly all well-made cryptocurrency bots can make anyone a better trader for their customizable trading options and settings that you can easily change to your will.
However, crypto bots like this are rare, and often, those existing in the market are still limited. Nevertheless, some are quite promising, which will be further discussed later on in this guide.
Trading signals are quite important data that most investors value. With a crypto bot, you can easily set the probabilities of getting this signal that will later feed the bot with data that can easily influence its decisions.
YOUR TRADING PREFERENCES AND SETTINGS ARE ALSO REVERTABLE, AND MOST CRYPTO TRADING BOTS PROVIDE A DEFAULT SETTING THAT YOU CAN EASILY EDIT.
Crypto Trading bots use Complex Trade Algorithms.
Cryptocurrency is a volatile market, and price fluctuations are also widespread in popular crypto trading assets like Bitcoin.
When these fluctuations come, traders can easily take advantage and gain a considerable profit margin; however, predicting when and how these fluctuations will come is almost impossible.
Even enthusiasts and cryptocurrency experts have a hard time when it comes to predicting events like this.
With advanced coding and usage of complex algorithms, a crypto trading bot can use the past fluctuations and apply them to the next ones.
ONE THING THAT SEPARATES CRYPTO TRADING BOTS FROM HUMANS IS THAT THEY DON’T HAVE EMOTIONS TO BE INFLUENCED BY IT IN ANY WAY.
Most traders are easily getting carried away by many circumstances, to which we see this as a considerable disadvantage.
Crypto Trading Bots Don’t Need Breaks.
Crypto trading bots are software, and they don’t require any maintenance, which means that they can be run 24/7, even without breaks.
The thing about the cryptocurrency market is that it is always open, and even when you sleep or even when you take a lunch break, mini changes are happening consistently, and there’s a very high chance that you’ll miss it.
A crypto trading bot can quickly solve this problem with just the fact that it can run all the time. The flexibility it offers is also phenomenal. For instance, you can assume the bot’s position on your active trading hours and have it retire in the meantime.
IF YOU NEED TO TAKE A BREAK OR HIT THE HAY, YOU CAN EASILY ACTIVATE THE CRYPTO TRADING BOT AND HAVE IT OPERATE EVERYTHING REQUIRED.
Most traders quickly lose momentum just because they’re not always on their screen, so they can easily miss many trading cues and price fluctuations that can be massive. With a crypto trading bot, this won’t be a problem anymore, and traders can take more control of their investments even while resting.
Crypto Trading Bots are Fast and Efficient
Trading in general, even if it is not about cryptocurrency, will always require speed because of how the market changes.
However, speed and efficiency both scale with expertise, and considering this concept, beginner traders will always have a hard time keeping up with those that are considered veterans already.
Cryptocurrency, in particular, is even more demanding than traditional trading since the market is volatile and can be easily manipulated by external changes.
That said, more speed is required to be better in this platform, and beginners would have a hard time catching up because of the skill ceiling it provides.
CRYPTO TRADING BOTS DIFFER FROM HUMANS, AND THEY ACT DEPENDING ON THEIR CODE AND THE ALGORITHM THEY ARE DELIVERED.
That said, they are much faster and more efficient than an average person, which means that they can offer more things.
Crypto Trading Bots Provide You an Entryway to the Market
Let’s be real; cryptocurrency is not for everyone. Many things can easily hinder a beginner’s entry and progress, requiring much more resources than expected.
It’s not an easy process, yet research and learning from many sources can speed up everything else.
Still, even with all the research and preparations, long-term success in cryptocurrency is not a guaranteed thing, and often, people are only getting lucky with their results.
A crypto trading bot provides an easy entryway to the market, with just a program and a little research. Although the learning curve for using a bot is not that easy to comprehend, it is still doable.
ANYONE WITH ENOUGH DETERMINATION CAN USE A TRADING BOT TO GAIN PROFITS AND SEIZE ADVANTAGES IN THE CRYPTOCURRENCY MARKET.
Bot technology isn’t new, but more significant strides are often coming, making the cryptocurrency industry bloom with a potential that has never been seen before.
Crypto Trading Bot Examples
To get started with automated crypto trading, you need to have software. There are many options in the market currently, and each offers different things from one another, which makes them unique in their own way.
Development teams worldwide are working hard to provide software that the masses can use; some are free, and most are paid.
Keep in mind that I’m a Gunbot user and reseller; the only crypto trading bot I personally use is Gunbot; nevertheless, I did my research. The bots I choose in this article are legit automated trading solutions.
The links are direct to their main websites (not an affiliate), so you can check for yourself if you choose to.
Here are some examples of crypto trading bots to get you started.
- Provides a Lifetime License.
- Flexible 17+ Built-In Trading Strategies.
- Free and Reliable Support.
- TradingView Integration.
- Unique and Supportive Community.
Created by GuntharDeNiro, Gunbot is an automated crypto trading bot that operates in many markets, including Poloniex, Bitmex, Bittrex CEX, Binance, Coinbase Pro (GDAX), Kraken, Kucoin, Huobi, Bitfinex, FTX, Beaxy, and more…
Aside from these markets, the developers are also still adding many more trading exchanges to the software, making it more accessible to many other crypto traders looking for specific needs that they can trade into.
Gunbot is suitable for margin, futures, and spot trading, and the software provides more than 17 pre-made strategies dedicated to buy or sell.
Gunbot can run 24/7 without breaks, and it highly considers the settings that the user inputs and its interface provides an easy way of tweaking things thoroughly.
It is also worth noting that Gunbot works well with TradingView, which makes trading a lot better, and easy to Backtest Trading strategies.
Gunbot is also unique by providing a licensing system that incentivizes users with utility tokens; these are Gunthy Tokens. By owning these tokens, users will be considered Gunbot license owners, providing more value for their license.
It is easy to understand how Gunbot is built for every type of trader, from beginner to expert; even the most novice trader can learn really fast.
With all the resources available on the Gunbot School Program and the Official Gunthy Telegram channels, a beginner can easily catch up with the pros in just a matter of time, as long as there’s a strong sense of determination and willingness to learn.
Gunbot can be up and running right away through an intuitive and painless installation procedure and can take care of your cryptocurrency market decisions without any hassle.
- Cheaper pricing options (recurring monthly payments).
- Built-in Smart Trade.
- Flexible trading bots.
- TradingView support.
- Portfolio tracking and copy trading.
Although not certainly recommended for newer users, 3Commas still needs to be added because of its popularity and excellent functionality.
To put it merely, 3Commas is catered towards professional traders. The development team behind it is continuously doing their best to make the UI and the processes more centered on this demographic.
An attractive feature that most professionals would also approve of is the ability to track your portfolio. Smart Trade is another feature worth your attention, which is borrowed from the forex trading platform.
This feature allows any trader to sell or buy pairs that can easily be manipulated using the software’s risk management tools.
Users will have all the control and freedom for setting up everything, and we think that this is very helpful when it comes to long-term success in the cryptocurrency platform.
- It comes with 50 technical indicators.
- Compatible with 20 exchanges.
- 15 pre-built bot types.
- Interactive and helpful customer support.
- Downloadable Software and Cloud Service.
HaasOnline is a multifaceted cryptocurrency platform that is comprehensive and straightforward with its intentions.
They are the proprietors of the HaasBot, a crypto trading bot popular for its many features and how successful it can be in the current trading climate.
HaasOnline is also a well-known platform for botting, mainly because of how it supports customization and full-customization of bots, to the point that the settings can be coded in C# language.
For those that aren’t that much well-versed when it comes to bot customization, HaasOnline has provided a wide range of pre-built bots, amounting to 15 types with different uses individually perfect for individual circumstances.
These exchanges are only some of the 20 exchanges available on the platform: Binance, Bitfinex, BitMEX, Coinbase Pro, Gemini, Huobi, Kraken, Kucoin, and Poloniex.
HaasOnline supports its traders as much as it can. They can show this through their variety of tools that amounts to more than 50 indicators used to provide a more desirable outcome for each trading session.
HaasOnline also provides testing tools in their platforms essential for users who want to do some backtesting to learn what they have done before.
HaasOnline isn’t risk-free in any way, but they provide insurance and tools that their clients can use to prevent bankruptcy from happening.
Overall, HaasOnline is a user-friendly interface that requires expertise to have its features fully utilized. It’s still useful for beginners, but we recommend studying the basics of crypto trading first to gain full control over HaasOnline’s reputable bot, the HaasBot.
- Using algorithmic and social trading.
- High-level analysis tools.
- Useful mobile application.
- Paper trading account.
- Copy-trading functionality.
Cryptohopper acts as an all-in-one platform in which it can be used by different types of traders, even those that are using it manually.
Manual investors don’t have to pay for the service; however, if they wish to gain access to automated crypto trading investing, they can easily do so with just a click of a button and some payment processing.
Cryptohopper also offers various ranges of indicators, 9 exchanges available to trade in, 24/7 customer support, and free from additional commission fees.
A fair warning first, Cryptohopper isn’t an exchange, but it is a trading terminal that holds many markets to which clients can easily access.
Many platforms similar to Cryptohopper boast their open-source capability, meaning that anyone can code and make a bot for themselves. However, Cryptohopper removes the requirement of coding to make high-level tools.
This is a massive deal for experts in trading but is completely clueless when it comes to coding. Learning how to code requires a ton of time, and no one can easily pull it off within just days or weeks by only using tutorials.
That said, Cryptohopper attracts different kinds of traders, making it a fantastic community that is open to everyone.
Cryptohopper promotes the use of cryptocurrency in trading; that’s why they are doing their best to attract many kinds of clients, even those that don’t have prior knowledge of cryptocurrency.
For instance, in this scenario, you can open a paper trading account and get a hold of the trading experience without having real risks and spending valuable resources.
Cryptohopper is overloaded with features but in a positive way. Although it is overloaded, it is not overwhelming, especially for beginners or those who don’t know about cryptocurrency.
- Crypto Trading Exchange and Trading Bot.
- Provides a wide array of bots.
- Provides a liquidity engine.
- Legal regulation.
- No monthly fees.
Pionex is a Singapore-based cryptocurrency platform home to many versatile bots that each has its specialties. In total, Pionex 12 bots are already pre-configured to suit the taste of many clients.
Although the company that created Pionex is located in Singapore, they could still apply for a U.S. license, a first for cryptocurrency bot platforms.
It just means that they aren’t only trusted in Asia, but even American clients can rest easy with their funds.
Unlike many automated crypto trading platforms, Pionext doesn’t charge recurring monthly fees and only depends on trading fees with a flat rate of 0.05%.
This is considered a healthy amount of charge that helps both parties utilize funds even better. It also means that Pionex thrives better the more clients they have, to which they see success considering how many people visit their platform every day.
Some of the famous and influential bots they host include; Grid, Spot-Futures Arbitrage, and Smart Trade.
The only criticism we have for Pionex is the absence of custom strategies, which is an essential feature for an automated crypto trading bot to have.
Either way, they already host many bots, so the need for custom strategies has been decreased.
Crypto Trading Bots Conclusion
The path to a flourishing cryptocurrency trading career is challenging, yet with the internet on our side and plenty of time nowadays, there are a ton of tools that you can easily use to snowball your advantage.
Automated Crypto Trading Bots are an excellent example of tools that you can utilize even when you’re asleep and can bring in tons of profits if used correctly.
The cryptocurrency trading market is a growing industry with plenty of choices, and trading bots do work.
As long as they’re not a scam, and you set it properly, you should be able to make money trading with all of them.
Do your Due Diligence, Read about all bots, and when you decide to Buy Gunbot come back here to Cryptodroi.com. I’ll be waiting! 🙂
Final Note and Disclaimer: This article is not financial advice, and it is not recommended to buy or sell any cryptocurrency, trading, or other activities. Acquiring, trading, and otherwise transacting with cryptocurrency involves significant risks.
I strongly recommend you do your due diligence before start trading or using crypto trading bots.