Trading bitcoin has proved to be profitable throughout its short history of existence. Unlike stock trading, cryptocurrencies are active 24 hours a day and seven days a week.
Automated trading means using automated trading software known as trading bots to get the job done for you. Trading manually was the first option, and that’s how it all started, but as the crypto world expanded, the automated trading option became to be seen as a good option.
Why bitcoin automated trading became so popular?
There are many factors why this happened. As mentioned earlier, cryptocurrencies operate non-stop, and they are highly volatile. These are the 2 critical factors as to why automatic trading became a great option, turning investments in big profits.
Because of the volatility of the market, automatic trading has become way more popular among traders. It allows them to control their trading all the time, with the trading bot not sleeping. Furthermore, a precisely specified bot will enable trades to be executed faster. Also, trading bots get done everything more efficiently than the trader would be able to do manually.
Moreover, there are many other benefits when using trading bots: versatility, no fear, greed, or ego involved, which happens so often when trading manually, their speed, multitasking, etc.
What are some of the best trading bots?
There are many bitcoin trading bots out there, but you must pick a safe and reliable one, to get the best out of it.
Here are the top 3 trading bots:
1The Bitcoin Trader
The Bitcoin Trader is one of the best trading bots out there. Trading is done automatically, so there is no experience or a specific skill needed to operate. BitcoinTrader.site was founded in 2015, and it got popular in 2017 during the crypto boom. According to their site, Bitcoin Trader allows you to earn a daily profit of up to $1000 by investing $250. Such a level of return translates to ROI of up to 400%.
Cryptohopper is one of the game changers when it comes to trading automatically. They run entirely on the cloud, and it takes only 5 minutes to set up your account and start trading. What makes them unique is that they have the option for new traders to subscribe to a list of professional analysts from all over the globe. Their dashboard is super modern, and it allows you to profit from bull markets with a trailing stop loss, and it possesses technical analysis features.
The CryptoTrader bot is a cloud-based trading bot that gives users fully automated trading solutions. It allows users to buy their preferred trading strategy or to sell strategies developed by themselves. Furthermore, Cryptotrader supports most of the major exchanges for live trading and back testing also, with the back testing tool enabling users to review how their strategies would operate under varying market conditions.
Automated trading is an excellent option to pick if you want to spend less time trading. Trading bitcoin manually requires a lot of screen time and focus, so here comes automated trading to help. Most people who get into trading have daily jobs, so they cannot find the time to focus 100% in trading unless they quit their jobs and go full time, so trading bots are a great option, especially for beginners.