Automated Crypto Trading
Cryptocurrency trading has never been easy. With the excessive volatile market, Automated crypto trading one is never sure about its money plunging to zero or making him the next millionaire. Keeping track of market rates to perform trades is turning out to be an impossible task for traders who are not full time into trading. The cryptomarket is open 24/7 and one needs an automated bot’s help to keep their funds secure and bring in profits.
As of now in 2018 the crypto market is filled with plenty of Automated crypto trading bots for crypto investors that provides a way to free up time or work day jobs while generating passive income from crypto trading. Cointogeek will provide you the list of famous automated bots for trading and performing transactions.
It is a free open source trading bot on Github. Gekko can be used to execute basic cryptocurrency trading strategies. The bot aggregates live price data, calculates indicators, executes live orders, and can simulate live markets using historical price data for the backtesting of trading strategies. Its functionalities are limited as compared to its peers but its a good trading bot for those who are new to automated trading.
It is also an open-source cryptocurrency trading software on Github. ZenBot supports multiple digital assets and uses a technical analysis focused approach to executing trading strategies. It also performs high-frequency trade execution, extensive backtesting, and a paper trading function to test strategies in real-time.
It is a cloud-based service which allows traders to develop their own trading bots which are then hosted on the platforms. CryptoTrade software supports multiple currencies and exchanges and allows thorough backtesting of trading strategies.
One more innovative feature is that CryptoTrader provides a marketplace where users can see the trading strategies that they have developed. CryptoTrader platform carries subscription rates and it ranges from 0.0013 BTC to 0.016 BTC per month.
It is one of the most popular crypto trading bots that allows candlestick chart pattern recognition and allows users to combine that with several other trading signals to develop more advanced crypto trading strategies. The bot is supported with long lists of Exchanges and its service come at a subscription rate of 0.035 BTC to 0.084 BTC for three months. However, this bot requires some expertise and is recommended for advanced traders.
The risk involved in Automated crypto trading
It’s never safe to handle one’s money to a third party be it a fund manager or a trading software. Faulty software and crashes can result in huge losses additionally trading bots can also turn out to be a scam which can result in huge losses.
One simple plain rule is that we must consider trading bots as tools and not a source of passive income. It is up to us that how we use the software and formulate strategies which can yield us great returns.
Cointogeek would love to hear from you in our comments section about its latest piece on automated trading.