Crypto Trading Bots: It does not matter what time of day or night it is; the Bitcoin market is always open. Trades between asset pairs are constantly in high demand since they are available to everyone.
On the other hand, nature warrants that you have some time for yourself to rest and sleep. Furthermore, you will be unable to take advantage of the current unpredictable market. Why not use The Bitcoin System App to transact Bitcoin and other cryptocurrencies 24 hours a day?
You do not have to give up on some of your daily routines because you want to monitor the market. Not having adequate rest can cause you to operate at an average level. As such, a clear head is preferable to a fog of hypnosis for crypto trading.
Even though software now reigns supreme, finding the top Bitcoin robots for Bitcoin and other cryptocurrencies requires investing your time and efforts.
This guide has already fulfilled these requirements for you. But if you had carried out research, you would find 1K Daily Profit as the leading Bitcoin Bot. And this review on 1K Daily Profit system will elaborate more on it.
What is it, and why use a trading robot for cryptocurrencies
What is a trading robot, you ask? Well, it is your hard-working replacement for a more efficient and dispassionate analysis when it comes to investing. Specifically, it is software. They are programs that buy and sell cryptocurrencies at the most lucrative moment, as they monitor the market and react according to specific predetermined rules.
There are two primary applications for a trading robot for Bitcoin and other cryptocurrencies. First and foremost, the investment process gets simplified and automated. One of the responsibilities of the robot may be to diversify your portfolio, develop indexes, and rebalance your investments, among other things. Second, the trading bot can compete in the market to maximize profits.
When and how to use a Bitcoin trading robot
Sounds lovely, huh? It can be, but there are nuances. The robot works automatically do not mean that you can choose anyone and ignore the work.
Most Bitcoin and cryptocurrency trading robots function by connecting their software to an exchange. Then, it is necessary to carry out a proper investigation on the robot that you will use since it will have access to our funds. Do not forget that there are plenty of hackers and scammers on the Internet.
One of the most effective methods to use a trading robot is to handle repetitive duties that take your time and effort. For example, you can have your bot rebalance your portfolio every hour.
It can analyze the market and, according to pre-established parameters, automate operations opening with a particular risk and potential profit. It can also monitor the price variations between exchange houses to make arbitration and simplify routing strategies between various trading pairs.
How to choose a cryptocurrency trading robot
There are different trading robots for cryptocurrencies depending on the purpose you want to give them. There are robots specialized in arbitration; market-making robots that place several orders to buy low and sell the same asset; those that automate portfolio management; mirror robots that mimic other traders’ investment strategies, and more.
Regardless of the type of robot that best suits your goals, there are specific general criteria that you should note when choosing a particular software:
1. Team credibility
Who are behind the software development? How long have they been operating? Is the company registered in any country, and protected by any law? Has the software demonstrated efficient operation without errors?
These are some of the questions you can ask before choosing a robot, for which it is crucial to do thorough research. Seek automated trading systems that have a transparent operation. However, remember that many people are jealous of their privacy in the cryptocurrency ecosystem, so sometimes, it will be challenging to get information.
2. Robot performance
Many robots offer a trial period before live crypto trading. Take advantage of this time to test the robot’s behavior based on the market’s historical data. Consider its latency, trading fees, and other aspects.
You can also take advantage of testing how the robot would behave with your current trading strategy. Some robots allow you to simulate your intending trading strategy in real-time with test money so as not to risk your investment.
3. Robot cost
The price range of a cryptocurrency trading robot can go from zero to a thousand dollars per month. Keep in mind that sometimes inexpensive things may be expensive because the owners may artificially inflate their costs. You should consider your options thoroughly before making a decision.
4. Technical support
It is helpful to know if the team behind the project offers efficient support to solve doubts or problems. Add extra points that there is a community of robot users on social networks with whom you can discuss your concerns and thus also evaluate the support provided by the team in its communication channels.
It is also essential to know how effective the team is at fixing bugs in the robot’s code and its history of software bugs.
5. Easy to use
Although a lot of knowledge tends to coexist in the cryptocurrency market, not every trader knows about software. When it comes to setting up a robot, things can get tricky for someone just starting.
Hence, choosing a robot that aligns with your experience level is best. For beginners, it’s best to start simple, so you don’t get bogged down with a bunch of tools you won’t know how to use.
The Complete List of Bitcoin Robots and Crypto Trading Bots
Let us see some of the best Bitcoin robots available in the market. Note that we only listed widely used and recognized ones.
1. 1K Daily Profit
2. Immediate Profit
3. Immediate Edge
4. Profit Revolution
5. Bitcoin Revolution
6. Bitcoin Pro
10. Anon System
11. Bitcoin Evolution
12. Bitcoin Era
13. Crypto Revolt
Summarily, if you want to trade cryptocurrencies, a cryptocurrency trading robot is a good option. Because the technology that powers them bases its operations on algorithms, it is almost sure that they will make better decisions than humans nine times out of 10.
The use of automated trading robots has demonstrated that you do not need to be an expert to get a side income.