• Mon. May 20th, 2024

Crypto Trading Bots: What is it?

Trading Bots

Trading Bots

Well, you decided to become a crypto trader, got an account on some crypto exchange, and started to make your first deals. But suddenly you noticed something strange — all other traders can complete thousands of deals per day while you can just set about ten orders and feel exhausted already. The secret is that traders use special trading programs or trading bots that can do all the boring and routine work instead of users. Programs, unlike humans, work around the clock and are able to analyze a much bigger amount of information. 

You can create your own bot or find the most successful algorithms and strategies at specialized platforms. Better to use official partners of exchanges. You can try the copy trading crypto services of Binance’s broker Jet-Bot which is the easiest and safest place for beginners. If your bot works well enough you can allow other people to use it for sharing their profits. 


AI Trading Robot

In this piece, we will tell you how to start gaining up to 600% APY with trading bots if you are a beginner.

What are these crypto trading bots?

A trading robot is a program with a built-in algorithm. There are thousands of fancy trading bots types with an impressive variety of strategies but you can consider these two as the most basic: arbitrage bots and market-making bots. There are also programs that do not trade but just monitor the market situation and send you signals. 

Here we are talking only about the algorithms that can make deals with your crypto on the exchange. It can be connected to the trading platform account if the site provides an API. The program collects the necessary information, analyzes it, and creates orders offline.

A robot is based on an algorithm that is custom set for some strategy. Profitability depends on the author of the strategy. When developing the bot, you need to take into account different situations in the market. The software can only make decisions based on statistics. Therefore, their work is based on charts, Depth of Market, indicators, and so on. So as a trader, you have to learn how to predict the market in order to apply the best strategy for the moment.


AI Trading Robot

Each type of trading bot has its benefits and unique features. Trending bots are using moving averages and when the lines cross, the bot sends you a buy or sell signal. Scalping bots allow earning on small price volatility while using simple indicators, for example, Bollinger Bands. Flat bots are given a certain price range at which they will buy and sell cryptocurrency. This can be done both with the help of indicators and manually. Anyway, you can use different bots or just one, but remember that any crypto investments are risky and it’s best to invest such an amount of money that is not painful to lose.  

Where to find a trading bot and how to trade with it?

The truth is that you can quickly become a crypto trader and use bots just in a few minutes with the Jet-Bot copy trading platform. Jet-Bot has great tools for beginners and as Binance’s official broker it is safe and trusted. 

This platform is easy to use and just in a few clicks you can create your own bot manually or choose a ready-made one developed by top traders. The platform helps to select a bot that suits your level of trading. Some bots support multiple strategies and combine automated and manual trading and monitoring.

Pro traders at the Jet-Bot platform achieve from 200% up to 600% APY profitability with bots. And you can do the same just by using their trading bots. You can ask any additional questions in the official Jet-Bot community. 

 


AI Trading Robot

Kevin Moore - E-Crypto News Editor

Kevin Moore - E-Crypto News Editor

Kevin Moore is the main author and editor for E-Crypto News.