Unlike stocks, the cryptocurrency market never sleeps, or to be more precise, cryptocurrency trading has no daily opening and closing hours. Therefore, traders and investors are always under great pressure to enter this emerging industry. Anyone who has been involved in the market for a long time will probably be used to seeing their portfolio change a large amount (maybe profit or loss) every morning when they wake up, without themselves being able to. expected.
Because of the high volatility of this market, trading bots have become more and more popular among traders because of the conveniences it brings. With a trading bot, you can completely control your trading anytime, anywhere, even when you are sleeping, there is already a bot "waking up" and trading for you. In addition, a bot that is programmed to work correctly and make timely decisions can even surpass manual trading many times over in terms of efficiency.
The explosion of cryptocurrencies has set the stage for the dramatic growth of automated bot trading. Many open platforms today even offer trading bots for free, while others are sold to users at various prices. However, it's really not easy to judge which bots to use and which ones don't, which bots work, and which bots just waste traders time and money. This article will tell you exactly what trading bots are and how they help you in your trading, and cover some of the most popular trading bots available today.
What is a trading bot?
To put it simply, a Trading bot is a trading operation processed by algorithmic software, where the computer will make an analysis of the time, price as well as other indicators to decide when. and automatic entry positions for investors.
Many investors may find it strange and apprehensive about issues such as the cost or effectiveness of Bot trading services, but the benefits it can bring are extremely remarkable.
First, Bot trading is an extremely effective form of trading. The fact that we are entering a digital era with the transformation of AI, Bot trading is the way to help investors participate in the market in the most timely manner. Transactions will be executed 100% automatically. No longer will investors have to constantly follow the quotes every hour, every minute, or every second on the phone.
Secondly, Bot traders are a form of trading that is considered extremely safe. In addition to the platform of highly secure algorithms, some existing Bot trader platforms such as SnapBots also allow users to actively manage their capital, investors can withdraw capital from the Binance exchange. anytime. Thus, the Bot trader form not only maximizes profit potential up to 5% a month but also has a very high liquidity feature for users' investment portfolios.
As mentioned above, with its automatic characteristics, Bot traders not only bring efficiency in terms of time but also bring efficiency in terms of profits. Bot trading will actively make rational analyses and decisions. There will be no more hasty decisions, Bot traders with artificial intelligence can make "cold" decisions about order placement, stop loss, or reasonable capital allocation to maximize profits. The profit figure as mentioned can be from 5 to 30% monthly.
Using free trading bot: https://www.snapbots.io/