With volatility a defining feature of the crypto market, making the right moves at the right time is the only way to ensure maximum profit. However, with so much information and so little time to process it, this isn’t easy.
Fortunately, we have Bitcoin robots – and we’ve reviewed and found the best options out there. Read our complete guide on how to make trading bot Bitcoin purchases to find out how to benefit from trading bots today.
A Deeper Look into the Crypto Trading Bot
A crypto trading bot is a piece of software that’s programmed to execute trades without human intervention.
In simple terms, you can select one of our recommended Bitcoin trading robots, set it up and watch as it makes trades for you. Of course, if you want to dig a little deeper and adjust certain variables, you can. The main thing to note is that crypto robots do most of the hard work for you.
If you‘ve made online investments before, you might already be familiar with trading robots. What makes a Bitcoin trading bot slightly different is that it’s more affordable.
Blockchains are designed to be “open” networks, developers can get direct access to the technical bits powering an exchange. In contrast, only the largest trading firms have full access to what goes in the forex world, for example.
How Does It Work?
How can a crypto robot make trades for you?
Put simply, the software will interact with an exchange and process various sets of information to make a decision.
Because top-rated trading platforms like eToro allow third-party developers to plug into an application programming interface (API), crypto bots can react as the market changes. Although we won’t get into the technical side of things, the basic outline of the interaction between bots and exchanges is this:
How To Choose the Best Bitcoin Trading Bot
As you must already know, the whole bitcoin system (including the blockchain and order records, etc.) is pretty transparent to the public. Thus, it would be bad if you end up employing a bot that is shady and wastes your hard-earned money all for nothing. So, all the bot services that we have listed here are very transparent with their customers.
All of these services will provide you with an in-depth analysis of the current market status and even help you skip the learning curve of the process by straight-up taking you to the trading techniques and give you tutorials about using the bot.
Some of these services even provide you a free trial of their services so that they can get the hang of their bot without spending a single cent of your hard-earned money.
This is another important factor that will help you decide the bot service because it will define the trust between you and the company. You should have the service from a company that can be trusted.
The bots mentioned below are provided by companies who have been in the game for years and have acquired expertise in this field through years of experience. They have a long trail of satisfied customers behind them who have benefited from their services.
This piece of software won’t be used by IT professionals only. The general public who are interested in trading Bitcoin but don’t have the skill or market analysis yet would also want to invest through this service.
Thus, the bot should have a user-friendly interface and must be easy to use. The companies that are mentioned below offer a user interface that is very convenient to use. A beginner can get a grasp of the functionalities as quickly as a veteran user of the software.
None of the above factors will be of any good if you don’t get profits from your trading. You should analyze the profitability of the company before investing in their bot. Because there is no point in having a reliable company which won’t earn you any profits.
Granted that the bitcoin market is volatile, and the value may change anytime, but that doesn’t mean that you invest in a company that doesn’t invest in opportunities. So, you should choose a company that has clear strategies to maximize your profit margin.
It is crucial that your overall user experience with the service is excellent. For this, the platform must provide you with supplemental features that enhance your trading experience with the service. Most of the bots in this list are customizable and also provide you with strategies that are complementary to their respective platforms.
Cryptocurrency (especially Bitcoin) are generally very secure. But, there are very creative and patient hackers out there who will grab every opportunity they get to steal your hard-earned money.
With that in mind, you should choose the bot that has a security system that can withstand such attacks and protect money.
The bots do work to give you profits every chance it gets. It does this by analyzing the market for the cryptocurrency value and also monitors the fluctuations.
It will help you make half of the decision, but the other half is very volatile as it depends on various uncontrollable factors like social media. The values of the markets can fluctuate drastically based on various Twitter posts or rumors that can drive investors to take sudden decisions that in turn impact the market.