CRYPTO TRADING BOTS
As the name implies, crypto trading bots are robots that make trades very quickly on your behalf. They work on the system of buy at low prices and selling at high prices at a very high frequency on your behalf. Crypto bots are very efficient because crypto asserts have very high volatility (rapid upward and downward movement in price).
This system of trading using bots in which they buy low and sell high is called
Grid trading.
Example of a trading bot is Bitscap.
In order to reduce the risk of scam, it is best to trade with bots that do not require you to deposit money directly to their bot trading platform. Instead, you can opt for bots that link to your trading account ,for example your binance account . An example of such trading bots are 3commasbot and Pionex bot. Some exchanges like Binance , Bybit and Kucoin also offer trading bot service as well .
Apart from grid trading method, bots can also trade with the dollar cost average method (DCA).
This bot will continuously do DCA at lower prices and take profit
at higher prices. To learn more on every thing crypto, how to trade coins, how to set up your trading bots to trade, TA AND FA, DEFI…….
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