SOME BOT TRADING PLATFORMS ALLOW MORE EXPERIENCED TRADERS TO CREATE COMPLEX AUTOMATED STRATEGIES WHICH CAN BE BACK-TESTED AGAINST HISTORICAL DATA.
To make the most out of crypto traders’ trades, they must be awake at all hours. Trades that are profitable may be missed by traders due to delays in certain trading platforms or transaction times. These traders can now use crypto trading bots.
What is a crypto trading bot trading platform?
A crypto bot trading platform is software that connects to an exchange account and executes trades when market conditions meet specified criteria. The crypto trading bots can interpret market signals such as volume, orders, and price. They can also combine these signals with technical analysis signals such as Bollinger Bands, Ichimoku Clouds, moving averages, and, more recently, social media sentiment.
These platforms are for beginners who want to maximize their return on their crypto assets. These platforms permit copy trading, social trading, and automated crypto trading that’s based on algorithmic strategy.
MANY PLATFORMS CATER TO DIFFERENT NEEDS WITHIN THE CRYPTO TRADING COMMUNITY.
Crypto-holders have the chance to make a profit by putting the growing interest in DeFi or yield farming to their advantage. You have many options, no matter if you are an active trader or passive investor. Each choice has its risks. This article will focus on the most popular crypto trading platforms.
Bot Trading: Bitsgap
Bitsgap is a cloud-based platform for crypto trading that allows users to manage multiple trading accounts through one interface. It was launched in February 2018 and integrates with more than 30 crypto exchanges via API. Instead of having to log in to each exchange individually, users can now view all their exchange holdings and trade over 10,000 currencies from one dashboard.
Bitsgap provides many easy-to-understand trading tools. These include automated bots trading that can create buying and selling strategies to profit from any price movement. An arbitrage service. Total portfolio management – monitoring holdings and order statuses. Tracking open positions on connected exchanges. Smart trades to place take–profit and stop-loss orders simultaneously. On-chart order management allows for quick changes to orders. Alerts are available to track market anomalies.
Bitsgap says this is because account holders have easy access to arbitrage opportunities on a wide range of connected exchanges. For example, the arbitrage page displays a list of potential arbitrage opportunities in one format. This page displays the transaction price, selling prices and net profit. Bitsgap claims users can make money from price variations if they have API-connected accounts that connect to these trading balances and exchanges.
Many Bitsgap tools can be automated and accessed from both desktop and mobile devices. Bitsgap provides a demo mode to help beginners learn the basics of trading, without having to risk any funds. Advanced strategies can be tested by more experienced traders. You can have 2FA or email confirmation for unknown device logins. Bitsgap lets users define their API key permissions. Bitsgap only requires access to trading history, balance view, and trading permission. This allows users to keep their funds on the exchange account.
Bot Trading: Gunbot
Gunbot, which was launched in December 2016, is one of the oldest and most popular crypto trading bots. Gunbot’s active trading community has over 7000 members, and it is growing quickly. The bot trading platforms are available to both novice and expert traders. Gunbot comes with 14 precoded trading strategies that are simple to use for beginners. This allows them to pick the best pairs to trade with and then the bot does all the work.
Gunbot’s flexibility makes it an excellent tool for experienced traders. You can either modify existing strategies or create custom strategies. Gunbot’s interface has been updated to make it easier to view portfolio values, chart all pairs and create custom strategies from scratch.
Bot Trading: Coinrule
It’s easy to use, and it uses If-This Logic so that users can create automated trades. The bot trading will not miss a rally, and users won’t be caught in a dip. No coding is required as the bot trading platform is fully customizable and flexible. Trading is completely in the hands of the users.
Coinrule is a cloud-based cryptocurrency trading platform that allows traders to compete with professional algorithmic traders and hedge funds. It was founded in London by Gabriele Musella and Oleg Giberstein who realized that trading cryptocurrency wasn’t complicated.
You can choose from hundreds of templates on Coinrule. These templates are available for testing on the demo exchange. When you’re ready to connect to the real exchange, withdrawal rights are not required. Coinrule cannot access your funds maliciously. Coinrule provides two-factor authentication and military-grade encryption for all API keys.
Coinrule is a popular platform for investors and traders due to its powerful features, security, and capabilities. These traders will be able to access customized features like ultra-low latency servers, advanced technical indicators, and leverage trading.
Bot Trading: Pionex
Pionex, a cryptocurrency trading platform, has built-in robots. 16 trading bots are available for free. These bots will automate your investment strategy so that you don’t need to keep an eye on the market. The platform is approved by U.S. FinCEN and has the MSB (Money Services Business License).
Pionex, a prominent Binance broker, aggregates the liquidity from Huobi Global simultaneously. Pionex is one of the most used platforms for trading crypto bots.
Pionex permits manual trading and crypto-to-crypto exchanges. Pionex’s primary product is its trading bot selection. A cryptocurrency trading bot is an automated program that executes buy and sell orders without the need for manual input. It’s designed to conform to predefined market conditions.
Retail investors can get 16 free Pionex cryptocurrency trading bots. Pionex has the lowest trading fees of all major exchanges with a 0.05% per maker and taker. A subscription is not required for the bot trading platform. Grid Trading Bot trading platform allows users to buy low and sell high within certain price ranges. Leveraged Grid Bot trading platform provides up to 5x leverage.
Bot Trading: Shrimpy
Shrimpy is a cryptocurrency trading platform that features an automated portfolio management system and dollar-cost averaging strategies. It also offers periodic portfolio rebalancing. You can also get instant swaps via smart or routing.
Since its inception in 2018, the platform has been integrated to more than 16 cryptocurrency exchanges. Instead of accessing individual trading accounts for each trade, users can use Shrimpy’s intuitive dashboard to trade across multiple exchanges in a safe, simple way.
Shrimpy allows crypto traders to manage their portfolios and automate them, which can help improve efficiency and reduce time. Backtest results can be accessed, custom indexes are possible, and digital assets can be traded almost immediately. Smart order routing allows you to execute the perfect trade. Shrimpy compares all liquidity options to determine the best price.
You can also create specific indexes for certain asset types. You can create an Index using a DeFi tag to exclude digital assets from a specific market segment. Tags have many advantages.
The tag can be used by a crypto investment company or VC company in order to create an index including cryptocurrencies taken from giants such as Pantera Capital, Alameda Research and Three Arrows Capital. It is easier for traders to use bots to enhance their trading strategies, due to the increased attention given to crypto markets.
WHILE BOTS CAN EXECUTE TRADES AND MAKE A PROFIT FROM PRICE DIFFERENCES BETWEEN DIFFERENT EXCHANGES, TRADERS STILL REQUIRE A SOLID TRADING STRATEGY TO SUCCEED.
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