A cryptocurrency trading bots are software programs built that connects to a cryptocurrency exchange platform and executes trades and transactions on your behalf. This software is built to utilize different strategies and techniques to act on market indicators on the exchange platform, perform better market analysis using complex calculations to execute trades better than humans.
This software makes the decision for the user, it analyses market trends and places buy or sell order on our behalf to bring in profit without involving us. Most cryptocurrency traders prefer using auto-trading bots on cryptocurrency markets to make it easy for them to relax and be free from emotional stress brought about by trading.
Cryptohopper is one of the best auto-trading bots preferred by most traders in the cryptocurrency market. The reason behind this trading bot being popular is that, it is cloud-based meaning it offers continuous trading even when the computers are offline ensuring traders continue making profits all day and all night.
This trading bot is easy to use among cryptocurrency beginner traders as it allows its signalers to trade for new amateur traders automatically. Cryptohopper can trade on multiple trading platforms and lets the user know when they are making profits. It stops trade when it senses the user might make losses based on the current market trends and sends alerts to the user.
3commas trading bot is considered a smart trading bot that advises traders on what trades to best invest in and execute. Cryptocurrency markets are very volatile and huge price swings occurs every time thus making it hard for a user to track all these changes by themselves. This bot provides a solution to users as it adapts to the changing market environment which could be difficult for a user to monitor and adapt to manually.
This trading bot offers certain features to clients that they cannot resist, it analyzes the market trends and places your sales at the right time on the market to ensure maximum profits. It does not close when it detects market deterioration, but closes temporarily and opens up when the markets are good to get you profit. Its user interface is very interactive and allows the user to select various trading practices on which this bot bases its decisions.
The third trading bot that people use to trade in the cryptocurrency market is the Kryll.Io, it bases most of its trading strategies on market volatility. This trading bot provides users with tools to build their strategies to deploy in the market to make profits. It is simple and easy to use and allows users to instruct it to execute multiple trades in various exchange sites.
Kryll.Io includes many parameters such as price triggers, market indicators, and logical operators so that it detects the best opportunities to place buy-sell orders to make a profit on the user’s behalf. It allows easy manipulation even after placing trade orders allowing the user to cancel on some trades that don’t seem profitable.
Picking a good trading bot, one has to conduct extensive research to come up with a list of the best suitable ones to guarantee them good returns.