Bitcoin is a digital currency, and we are all living in the technological era. in this context, trading bots can easily help you achieve your goals. As the Bitcoin market has get bigger in popularity, so has the use of Bitcoin Trading Bots With so many day trading bitcoin trading bots available. it can be a difficult task for a newcomer in the industry to choose the best crypto trading bot out there. Similarly, it is important that you are aware of some of the factors that you should consider when choosing one.
What is Bitcoin Trading Bot?
Trading Bot is a part of software that uses an Application Programming Interface to communicate with a user’s exchange account and automatically perform trades based on the analysis of market data. This boot will trade when market conditions meet a set of default and programmed standards. Trading bots can figure out and combine traditional market signals such as volume, orders, price and time, with scientific analysis indicators such as Moving Average, and much more.
There are two main uses trading bots. First, investors can use bots to make the whole process much easier and smoother. Bots can take care of factors like portfolio adjustment, index building, portfolio balance, and so on. The second use case is much more complex and modern. In that case, the bot will try to beat the market and make a permanent profit.
Best Bitcoin Trading Bots
Most cryptocurrency bots are capable of doing what you set out to do. However, in a stable market such as the crypto market, one needs to be prepared to adapt to unexpected changes in market conditions. This is where anyone will need a 3Commas trading boot such as a smart trading bot. The give chase feature offered by 3Commas helps to achieve exactly the point. Bot will analyze market conditions and ensure that your coins are sold at the right time. That way, you get the most out of your investment. This feature that allows the market to adapt to changing conditions makes the bot special.
Bot can be added to 13 most popular crypto exchanges, including Binance, Kucoin, Bittrex, and more. This bot offers three various packages which cost you $22 per month and the most expensive package costs you 75 Dollars.
Cryptohopper is a newbie to the immediate trading scene but is growing in popularity for a number of reasons. On the one hand, they are the only cloud-based cryptocurrency bot on the market, meaning their bot trade continues when the computer shuts down. Their bot are also easy for new customers to pick up, due to the fact that they are the only trading bot to fasten external signals, allowing unskilled traders to trade their bot on automatically under the skills of these signals.
The initial cost of this bot each month is $19.99.
It is one of the most popular bitcoin trading bot among traders. It’s largely cloud-based, which means it doesn’t need to be installed on a physical computer, And can be amended by its user for sufficient and beneficial results. Digital trading modifications can be made to the bot in minutes. Amendments is easy, and with a little guidance someone newbie can hack the process.
It is worth noting that the crypto trader strategy comes with a market feature. This quality allows you to trade game plan with other traders. Another great feature is a back-testing tool that enables users to test trading strategies with backtested data as well as current market conditions.
Despite the fact that cryptocurrency trading bots are still in the initial stages of development, there is a free beta version of trading bots available for use. Although it is brand new in the market, people have easily chosen the zignaly bot. The full version will be available to users for a fee.
One of the amazing things about this Trading Bot is that it can be integrated with Trading View to some extent. Although the bot is in beta development, users have not encountered any problems with the above integration, which means that the developers have designed the software to facilitate access to the users.
It will offer a good range of free services to merchants. The best part about this bot is that it is very affordable. Shrimpy is a cloud-based crypto trading bot. The difference is the feature of rebalancing its portfolio. Balancing the portfolio is a common strategy in traditional markets. This bot allows users to create a crypto asset portfolio, specify a percentage weight of the value of each coin in the portfolio, and automatically balance over a period of time.
So, you will get a clear idea about the best bots that you can buy to increase your trading process from the above discussion. This can be annoying for newcomers at first. Given the sheer number of trading bots, it is important that you do your best.