Cryptorobotics – Best Crypto Trading Bot
By Space Coast Daily // November 17, 2022
The cryptocurrency market is very dynamic and it is challenging for traders to cope with cryptocurrency trading on their own. Therefore, algorithmic trading tools can come to the rescue here.
One of the most popular such tools is the crypto trading bot. It is intended for purchasing and selling different cryptocurrencies at the right time to make a good profit. Its function enters trades automatically and is based on certain parameters.
Crypto trading bots help traders not to miss the possibility of opening orders that can potentially bring a high profit.
How does the bitcoin trading bot operate?
Crypto bots are special software created to work on your behalf under algorithms based on technical analysis. Their policy is to analyze historical data, the number of possible losses of a trader’s funds, and his profits.
It means the trading bot purchases crypto when the price falls in the market. Otherwise, it sells digital money when the cost grows.
The best crypto trading bot
One of the most popular and effective cryptocurrency trading robots is Cryptorobotics trading bots. Each trader can choose robots according to their functionality and market situation since these crypto trading bots can open orders in certain market trends.
Let’s start with Optimus. It opens orders at positive cost fluctuations and closes them by definite oscillators and markers configured by the algorithm. It is designed to enter the trade on low price volatility.
Supporting crypto exchanges: OKEX, Binance, Binance.US, CEX, Bitfinex, EXMO, P2PB2B, Huobi, Kraken, Gate.io, Poloniex, Bittrex.
The next one is CyberBot. This crypto trading bot trades in the bull market and it never starts trading against the trend. This increases the chances to receive returns and decreases the risks of losing money.
Supporting crypto exchanges: Bittrex, Binance, Binance.US, CEX, Bitfinex, EXMO, Kraken, OKEX, Gate.io, Poloniex, Huobi.
A crypto trading bot that buys and sells in rising and falling markets is called Crypto Future. It is also known for its ability to make effective and quick trades. There are three types of Crypto Future trading bots – Conservative, Moderate and Risky. These bitcoin trading bots have different levels of risk management in the market and the number of crypto trading pairs.
Supporting crypto exchanges: Binance Futures
This crypto trading bot uses a passive investment strategy that involves the use of one or another exchange’s index. The Swing Swan enters trades in both falling and rising markets. It also makes independent decisions according to whether to sell or buy cryptocurrencies and uses an appropriate order of risk management.
Supporting crypto exchanges: Binance and Kraken.
Channeler AI is a cryptocurrency bot that is based on machine learning. It places orders only in case it is safe for traders not to lose their money due to its ability to define the shift of the cryptocurrency pair. Also, it is important to note that this crypto bot uses long and short strategies in the market.
Supporting exchanges: Binance Futures.
This bitcoin bot uses a long-term investment strategy. It buys the 9 most promising coins for any positive fluctuation in the crypto market. The bot holds and monitors the rate of digital assets to fix profits.
Supporting exchanges: Binance, Bitfinex, Bittrex, Gateio, Kraken, OKX, Poloniex.
Pros and Cons of using crypto trading bot
■ Ability to make decisions fast. Bots analyze the market and make decisions faster than people. That is why a lot of traders decide to use bots.
■ Analysis of many crypto trading pairs. To compare a bot with a human in this parameter, the bot also gains.
■ Lack of errors in the algorithm. When people are bound to make mistakes in market analysis, bots operate according to the framework of the algorithm.
■ The opportunity of entering trades around the clock. People need rest when the bot trades without a break.
■ User’s free time. The usage of bots gives people more free time.
■ The absence of emotions. The bitcoin trading bot does not have any emotions, unlike people. It works only according to the algorithm.
■ Discipline. The crypto trading bot will work in accordance with the pre-set algorithm in it.
Bots are not able to analyze the crypto market independently. So they don’t know when the market trend is changing. It means that this can carry a complete loss of your funds.
■ The lack of emotions. If people can decide when they should close the order, the crypto trading bot will open orders until the money runs out.
■ The need to control crypto bots. A bitcoin trading bot should be monitored because unexpected errors may occur in the system. So it is not recommended for traders to give access to a crypto bot for all your funds.
■ The possibility of software malfunctions. Pay attention that not all crypto bots are created by professional developers. Errors can occur during the development process, causing the bot to become inefficient at certain points in time.
Crypto trading bot is a great opportunity for traders to improve and automate the trading process. After all, cryptocurrency trading requires traders to constantly monitor the market. For a human, this is almost impossible, but the robot is able to analyze the market and enter into transactions around the clock.
However, do not forget about the possible risks associated with automated trading, since cryptocurrency bots are software that can have errors, which can lead to the loss of your funds.
Therefore, traders need to study the bot, before trading and to understand during which market trend it can trade. Thus, you can minimize all risks and get high income with the help of a cryptocurrency bot.