The world of cryptocurrency moves fast. If you want to join the ranks of successful traders, you need to stay on top of all the news. Here is an update on the most relevant information regarding the best trading bots.
Ideally, bots should generate profit, But just a note, not all trading bots are profitable. Trading cryptocurrencies isn’t easy. This is because unlike stock markets, cryptocurrency markets don’t close, and this presents a very stressful scenario for both casual investors and seasoned traders in the industry.
The cryptocurrency market is also very volatile. If you’re a crypto investor, you’re probably familiar with the (sinking or pleasant) feeling of waking up to massive losses or large gains in your portfolio.
To retain control of trading even in your sleep and to counter the volatility of the cryptocurrency market, traders are increasingly relying on trading bots
What’s a crypto trading bot?
A trading bot is a piece of software that’s designed to analyze cryptocurrency trading data and to place sell or buy orders on a trader’s behalf.
Cryptocurrency trading bots act based on pre-programmed and predefined rules. Their decision making is hinged on the price movements in the market — they typically analyze market actions like price, volume, time, and orders. Once you’ve acquired a bot, you can customize it to suit your trading preferences…..