The recent technology in the cryptocurrency market continues to attract potential investors. You no longer need to trader manually, which saves you a lot of resources and provides you higher opportunities to earn the rewards.
However, the question still lingers, Is automated trading reliable? If so, how profitable is it?
A Little Background About Trading Bots
Richard Donchian first introduced the concept of an automated trading system in 1949. John Henry, a popular trader, eventually adopted the concept of rule-based trading during the 1980s. This is where trading bots started to generate interest among investors and individuals alike.
Bots were designed for two important purposes:
a) Make the entire trading process smooth and a lot simpler. The trading bots are held accountable for portfolio rebalancing, portfolio variegation, and index structure, among others.
b) Beat the market and create income
A trading bot is a software that makes use of API to communicate with the exchange account of the users and automatically perform trades depending on its market data interpretation. It has a user-friendly interface, several customization options, and the capacity to keep some human supervision.
So, as you see, you don’t have to set your eyes or update the market every now and then just to trade. The bot will do all the complex job for you. It explicates and integrates the traditional market signals, like price, time, volume, and orders.
Why Should You Consider Using A Bitcoin Trading Platform?
Unlike before, modern crypto markets do not intend to sleep. Changes occur whenever chances arise. Perhaps you’ve been in a situation where you found your investment in a severely bad condition after waking up from a long night. This might be the ideal time to explore trading bot and its topnotch benefits.
* Save time
Most likely, the biggest advantage of crypto bots and automated trading. You can always expect for rules-driven and efficient trading without your actual presence. Busy individuals will mostly appreciate this benefit. It offers the means to create trading incomes without being laced to your screen.
* Find new opportunities
A bot is available 24/7. It never sleeps, just like the crypto market. The system can easily exploit any changes in the condition of a market. However, it will depend on the type of parameters you have set.
* Bitcoin trading bots give investors huge income options
The software could be an excellent help if you want to put your Bitcoin portfolio work for you. It enables you to leverage your holdings to create an income with trades. Risks are common, and that’s part of the process. This is why you must be careful when choosing an automated investment platform to trust with your coins.
Besides these fundamental benefits, several websites, such as bitiq, allows anyone (whether beginners or seasoned traders) to join an exchange and begin trading. Plus, the amount required to trade is only minimal.
Watch Out for Hidden Fees and Scams
The booming market of Bitcoin bot trading has also opened up opportunities for bad actors to attract investors and traders. They steal funds and personal data. You can prevent this emerging occurrence. Do your due diligence. Never afraid to ask some questions to the team about the platform’s credibility and contact support.
The best crypto trading bots should have a credible reliability, first-rate security, transparency, and good profitability. The latter is the essential component, so ensure the bot is lucrative enough before investing both your money and time into it.
Bitcoin trading bots can assist investors and traders in interacting with the market, even when they lack actual presence. They could help in eliminating the emotions and stress associated with financial trading markets. With the requisite ability and know-how, it’s not impossible to see yourself becoming the top earners in the next few years.
PS – There have been a lot of scams online on purported automated bitcoin trading that left many people with burnt fingers. Some of these platforms go as far as duping people into thinking big-time celebrities have backup the automated bitcoin platform. A good example, as illustrated by https://beargryllsbitcoin.com/ show how a famous British TV personality Bear Grylls has been used as the poster-child for fake automated bitcoin trading platforms.
As people bought the fake news and ended up losing their hard-earned cryptos, the TV personality’s reputation and rating began hurting as well. It is, therefore, prudent that you run a background check on any purported automated bitcoin trading platform, before you make the decision of engaging them.