Unlike the stock exchange, the cryptocurrency market never ever closes and never sleeps, which can be an extremely demanding scenario for traders and even casual investors in the industry.
Users acquainted with crypto investment will also be familiar with the (joyful or sinking) sensation of awakening in the early morning to be welcomed by an enjoyable or undesirable surprise when they inspect their portfolio and see large gains or losses.
As a result of the volatility of the market, trading bots have ended up being progressively popular among traders by allowing them to stay in control of their trading at all times, with the bot not sleeping even while the trader is.
In addition, a correctly specified bot permits trades to be executed faster and more efficiently than the trader would have the ability to do manually.
Bitcoin Trading Bots Recent Popularity
The surge of popularity in cryptocurrency has also resulted in a huge boost in the number of crypto trading bots offered, either for free from open-source platforms or accredited to users in exchange for flat costs.
Nevertheless, it is difficult to ascertain which of them work as planned and which of them are an outright wild-goose chase.
This post will consider the background to what precisely trading bots are and whether they work for Bitcoin trading (and more importantly, for your Bitcoin trading).
It will then consider some of the best trading bots in the market today.
What are Trading Bots?
In essence, a trading bot is a software program that engages directly with financial exchanges (frequently using API’s to get and interpret pertinent information) and locations buy or sell orders in your place depending upon the interpretation of the marketplace data.
The bots make these choices by keeping track of the market’s cost movement and reacting according to a set of predefined and pre-programmed guidelines.
Typically, a trading bot will evaluate market actions, such as volume, orders, rate, and time, although they can normally be set to suit your own tastes and choices.
3 Commas Trading Bot (The best automated cryptocurrency trading platform)
3Commas is a popular trading bot which deals with a number of exchanges consisting of Bittrex, BitFinex, Binance, Bitstamp, KuCoin, Poloniex, GDAX, Cryptopia, Huobi and YOBIT.
The bot works 24// 7 with any device as it is a web-based service so you can monitor your trading dashboard on mobile as well as desktop and laptop.
It enables you to set stop-loss and take-profit targets and likewise has a social trading aspect which permits you to copy the actions of it’s most effective traders.
Try 3commas bot and you will love it: https://cryptutorials.com/recommends/3commas/
Full Article on comparisson of bitcoin bots: https://cryptutorials.com/2019/02/20/automatic-bitcoin-trading-crypto-bot-comparison/