Crypto assets fall in the category of high-risk investments due to their volatile nature. Their prices are difficult to predict as they fluctuate within spans of minutes. The change could lead to a massive loss or a significant profit for the investor. Even though ‘an ideal’ trading strategy does not exist, having a plan and a couple of strategies in place impacts the outcome of the trade. One of these strategies would include investing in a trading bot. A bot or a robot is software that evaluates the market, identifies high-quality opportunities in terms of coins and tokes, and invests in the best of them in the place of the account owner. This article will analyze several trading bots one could invest in when trading cryptocurrency.
Pionex
Pionex is a cryptocurrency trading platform that has built-in bots. The site offers about 12 trading bots to all premium subscribers. This mitigates the risks of making losses while maximizing the chance to make profits. With the bots, you do not need to keep checking the market as they analyze it and invest in the best tokens and coins in place of the user. The trading fee is at 0.5%, which is quite reasonable.
Bitcoin Loophole
Bitcoin loophole is an automated trading software that allows users to trade in bitcoin and other cryptocurrencies. It is designed using advanced algorithms and technology, making it easy for the software to identify high-quality opportunities in the market and execute them as trades in place of the client.
The software comes with a strategy tester demo allowing users to evaluate their strategies before making investments. The Bitcoin Loophole bot is flexible and customizable, making it easy for beginners and advanced traders to use in business.
Botsfolio
Botsfolio is a company that provides its clients with cryptocurrency trading bots. These bots help clients in both long and short-term investments in cryptocurrency. The bots are already configured; thus, no knowledge is required before using them for professional services. The site offers security as the user’s crypto is held in their Binance account; Botsfolio does not have any access to the crypto.
The bots are designed using an advanced algorithm to help with risk management and ensure that the clients benefit from their investments. While trading, the bot diversifies the market depending on the client’s risk appetite and goals. However, the minimum requirement for investment is quite high as one has to have 1000 tethers and the bot only works on Binance.
Coinrule
Coinrule is an automated trading platform that avails bots for trade and often sends trading instructions to their clients and exchanges. The beginner-friendly site avails bots that evaluate over 1000 cryptocurrencies and tokens and selects the best before investing in a client’s place.
The trading bot is already customized, and thus one does not have to possess prior knowledge before using it. The back testing feature allows the user to use the trading view to try out several strategies before making investments. The trading view shows the maximum drawdown, profit factor, anticipated net profit, and profitability percentage.
Conclusion
Cryptocurrency is a volatile sector that requires one to have skills and a plan if they are to become successful. Learning how to trade could take up a lot of time and, to some people, might be too complicated. Bots make trading easy, effective, and secure. You do not have to be actively involved in the process as the bot studies the cryptocurrency market, selects the best cryptocurrencies, and invests. With these sites one would not struggle with trading, making decisions would be quite easy and risks would be managed easily.
