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– TIMESTAMPS –
2:06 What Are Trading Bots?
6:22 The Truth About Bots
10:51 Why Use A Crypto Bot?
23:11 Final Thoughts
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❓ What Are Trading Bots? ❓
They are merely automated buying and selling algorithms and software program that assist purchase and promote varied cryptocurrencies in an automatic manner.
However, there are three major sorts of crypto bots on the market that you must learn about:
► Signal generator bots: These make buying and selling selections primarily based on ideas by so-called ‘specialists’ or a pc program that’s fed information and churns out purchase or promote alerts.
► Arbitrage bots: These primarily purchase a selected crypto on an trade with a low worth and promote it on one other trade which has the next quoted worth to generate revenue.
► Finally, you might have bots that commerce in your behalf with a set of directions you might have given it.
Many of these kind of bots provide options like backtesting to assist optimize your buying and selling technique.
💡 The Truth About Bots 💡
Many persons are drawn to crypto bots as a result of they love the concept of being profitable of their sleep. I don’t blame you.
However, the reality is that they’re something however cash printers!
Many signal-driven bots are only a strategy to fleece you for cash. Think about it; if the alerts had been so good, wouldn’t the sign creator preserve them for themselves?
Then you might have rip-off bots which promise you assured returns. That ought to set off alarm bells. Then you might have others that ask you to ship cash to a dealer or unusual place.
The level is there are lots of wolves promoting crypto bots. So, watch out.
Even in case you do use a legit bot and also you devise a successful technique, you’ll nonetheless have to speculate time in refining it to account for various market circumstances. You gained’t sit there on a seaside for many years laughing all the best way to the financial institution.
🤖 Why Use A Crypto Bot? 🤖
Watch my vid. Here I clarify all of the the reason why I personally use a crypto buying and selling bot.
4️⃣ Shrimpy 4️⃣
This social portfolio administration instrument was established in 2018. Yes, it doesn’t provide any alerts. But it does provide spot buying and selling, portfolio monitoring, technique automation, backtesting and sensible terminal buying and selling.
The two options that basically stand out to me are longer-term portfolio administration instruments which automates issues like portfolio rebalancing, dollar-cost averaging and cease losses. Then you might have the social buying and selling characteristic which lets you copy the trades of the highest merchants on the platform.
3️⃣ Kucoin 3️⃣
Yes, most of you’ll know Kucoin as a prime trade for unique altcoins. However, what many individuals don’t know is that additionally they provide a plethora of free buying and selling instruments too.
That consists of issues like preset buying and selling methods, greenback price averaging, basic grid (that can assist you promote excessive and purchase low), dynamic portfolio rebalancing (so you’re by no means too uncovered to a single place) and rather more.
Over 2.5 million bots have been created on Kucoin worldwide – so yep, there’s a literal buffet of choices right here. Even higher, these instruments are completely FREE!
2️⃣ CryptoHopper 2️⃣
CryptoHopper supplies help for a whopping 100+ cryptos on actually each trade value having an account at.
It supplies professional buying and selling instruments with out the necessity for coding expertise. That even consists of superior buying and selling stuff like market-making and trade arbitrage. Yes, additionally they provide options like backtesting and trialing options that can assist you purchase and promote extra effectively than earlier than + paper buying and selling to check these new methods you’ve developed with no danger in any respect.
1️⃣ 3Commas 1️⃣
This is among the hottest buying and selling bots on the market. There are a ton of actually helpful options, paired help for 23 totally different crypto exchanges. Just watch my vid to search out out why I personally use 3Commas as my buying and selling bot of selection.
📜 Disclaimer 📜
The info contained herein is for informational functions solely. Nothing herein shall be construed to be monetary, authorized or tax recommendation. The content material of this video is solely the opinions of the speaker who shouldn’t be a licensed monetary advisor or registered funding advisor. Trading cryptocurrencies poses appreciable danger of loss. The speaker doesn’t assure any explicit final result.
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