Automatic execution of exchange orders is carried out with the help of cryptobots, which are a set of parameters and indicators for determining the sell or buy signal. Orders are performed by changing trading settings at a specific time.
Automated cryptocurrency trading allows for successful orders that bring up to 145% profit, with an average profit per day of 1 - 2%. This is taking into account the impact of news and market volatility.
What kind of bots are there and how to earn bitcoins on a cryptocurrency exchange? About this in more detail in our review.
Types of bots
- Arbitrage. Trading is based on price differences on different exchanges. For example, one exchange offers a cryptocurrency, the other euro. Where the rate is lower, we make a purchase and at the same time sell on the exchange offering a high rate.
- Order Bots. Customizable bots that work under certain market conditions. Often combined to automate trading.
- Trading bots. They are based on indicators that are chosen by the user independently. Their advantage is a good setup, the possibility to use several indicators to form their own signals for trading.
Why should you use a trading bot?
- Allows you to hedge a part of your portfolio.
- It is possible to trade on several exchanges simultaneously and in several pairs, which cannot be done by one person. The bot will place orders and find a signal faster.
- There will be no need to sit in front of your computer all day and trading will be unemotional for the user. The bot will give the programmed rational behavioral patterns.
How long period of time can I earn good profit with the help of bots?
Several factors affect the profitability of using a cryptocurrency trading bot. It is possible to get rich using a program, but under certain conditions.
- Cryptobots have shown themselves well in background trading, i.e. some amount of money they will bring in.
- Many bots may require appropriate investments: purchasing software with a monthly subscription, putting money into circulation at a certain percentage.
Taking advantage of our offer, you can buy Gunbot - a program, for cryptocurrency trading, which uses an algorithm to perform transactions with assets that guarantee profits. The leading arbitrage bot - BitRage. Is an automatic trading bot without losses, scanning the market at great speed and identifying profitable deals.
It is worth noting that trading on the exchange can bring both the highest possible cryptocurrency earnings and unsuccessful trades. It depends on many factors (time frame, intensity of market volatility, etc.). The use of most cryptobots is designed to accumulate funds.
In some cases, a bot for automated cryptocurrency trading is used to reduce losses, not just gain income. If a cryptobot does not meet the user's expectations, it can always be reconfigured properly using backtesting analyis. Or stop the program and trade manually for a while, then start it up again.
It is difficult to unequivocally answer the question of which bot will work best. The trader must find his own algorithm that meets the expectations and needs - you test the cryptocurrency bot in practice and evaluate the result. For a novice trader, the bot will help get into trading by allowing you to analyze the situation on the market.