Cryptocurrencies are notorious for being extremely volatile, with prices shifting substantially even within minutes. Investors can also participate in bitcoin trading from anywhere in the world and at any time of day. These characteristics, when combined, limit the effectiveness of human cryptocurrency trading in various ways.
Fortunately, there are answers to these problems for many investors. Bots, or automated systems that conduct trades and execute transactions on behalf of human investors, are one of the key solutions. There are numerous types of cryptocurrency bots. The arbitrage bot is one of the most common. Arbitrage bots are software that compares prices across exchanges and executes trades to capitalize on price differences. Because the price of a cryptocurrency like Bitcoin varies slightly from exchange to exchange, bots that can move quickly enough can outperform exchanges that are slow to update their values.
Other bots use previous price data to test trading techniques, perhaps giving investors an advantage. Other bots, on the other hand, are programmed to make trades based on certain signals such as price or trading volume.
Here are a few bots you may employ with their supported exchanges to automate your transactions and become more efficient.
Pionex is included on this list because of the 16 free in-built trading bots it provides. Pionex's bots enable you to generate money by trading in bitcoin on your behalf for a tiny trading charge of 0.05 percent.
The Grid Trading Bot, which helps you sell high and purchase low, is one of its most popular bots. The arbitrage bot, on the other hand, uses the future market powered by the broker system Binance to provide you with a dividend every 8 hours.
CryptoHopper is a cloud-based crypto trading bot that uses an algorithmic programmed trading method and allows users to execute intelligent trades using external signals. It is compatible with 9 different cryptocurrency exchanges, including Coinbase, OKEX, KuCoin, Binance, Kraken, Huobi, and many more. It allows you to use both free and commercial signals from various sources. It is owned and operated out of Amsterdam, Netherlands, and employs over 30 trading indicators and over 90 candle patterns. It operates around the clock and trades several cryptocurrencies (75 in particular) in addition to Bitcoin.
Cryptohero is a one-of-a-kind platform with a website, mobile app, and a stunning user interface. The Cryptohero software is simple to install, does not overheat your phone, does not consume excessive memory, and loads quickly. They offer both a free (basic) and a paid platform to their users. In their mobile app, they feature a short tutorial that enables traders to create their own bot and start trading. You can monitor your dashboard for active orders, win/loss ratio, realized profits, and a total number of trades, as well as a transactions tab divided into In progress and Completed.
As the cryptocurrency market grows in popularity, traders are finding it easier to use bots to improve their trading technique. Even though bots can assist traders in executing deals and taking advantage of price variations between exchanges, you, the crypto trader, still require a good trading strategy to have successful trades.
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