What are crypto bots? For beginners in crypto trading, you need to know certain tools you can use to help you in your crypto trading activity. First, to trade cryptocurrency, you just need to use a certain trading platform you trust, and then deposit your money to buy the crypto assets you want to have.
The usual strategy is that you will need to find the crypto assets that come down in value, buy them when the value is still low, and then you will sell the crypto assets when they rise in value.
Many traders do all these trading activities, including buying and selling various crypto assets using the manual method. It means you need to keep monitoring the trading graphs for the crypto assets you want to buy and then perform your trading activity with manual steps.
Crypto bots are the software that can help you automate the buying and selling of your crypto assets.
So, you can save time and don’t need to spend too much time monitoring the graphs by yourself, as the AI will do it for you.
The Reasons to Use Crypto Bots for Beginners
For beginners, the term crypto bots might sound negative, and they might think that it is a scam in the crypto trading scene. Don’t worry. Crypto bots are legal software, and they are not a scam software.
The term “bot” here means that you can automate the crypto trading process using this software.
Of course, you need to find the trusted and legitimate crypto bots you can use in your crypto investment.
Here are the reasons to use crypto bots for beginners:
- Market monitoring. With crypto bots, you can monitor the crypto trading market all the time, as it uses advanced AI technology to do that. The bots might even help you spot some wonderful investments, which you might miss before.
- Planned investment options. You can plan the investment you want to have in the cryptocurrency market. There are various settings to command your bots to invest at the value you put into it.
- Automatic process. With crypto trading bots, you will get the automatic process in your buying and selling of crypto assets. No need to use the manual method anymore. But of course, you can still use the manual method from time to time.
- Fast searching for new opportunities. Crypto bots like bitcoin circuit etc can help you find new investment opportunities fast. Instead of monitoring the market by yourself, which can take a lot of time, you can cut down the monitoring time to just a few minutes to find new investment opportunities for you.
- Time-saving. It saves a lot of your time, as you don’t need to sit down and monitor the cryptocurrency market all day. You just give such a task to the crypto bot software.
Also Read: How to Mine Chia Coin?
Are There any Risks of Using Crypto Bots?
Crypto bots are not the magic tool you can use, which you can expect to give you profits after profits all the time. It is just a tool you can use to help you in your cryptocurrency trading.
You need to give yourself some time to learn how to use the software and then master the use of it from time to time. You need to take advantage of the software to the best of your ability.
Here are some risks of using crypto bots:
- Losses during high volatility in the market. Sometimes, the crypto market can rise and fall in sudden movements, and this is the time crypto bots are often unable to give you profits. You might suffer losses during this time.
- Needs constant changes. Crypto bot is software that needs constant evaluations and changes from you as the user. You need to set the software to work as you want it to be, so you need to keep it in tune all the time.
- Learning the hard way. You might learn the hard way by experiencing losses after losses when you use the crypto bots until you understand how the software works.
Best Crypto Bot #1 – Trality
Trality is a perfect software for beginner crypto trader to create their own crypto bot. It has various tools you can use to automate your trading activity without having to leave your day job.
Among the tools provided by Trality are code editor, rule builder, advanced security platform, cloud-based trading, and end-to-end encryption.
Trality is compatible with some of the best exchanges in the world, including Binance, BitPanda, Kraken, and CoinBase Pro.
It also includes various useful guides beginners can follow to create their own crypto bots that will help them profit more in their crypto trading journey.
Official Website: Trality
Best Crypto Bot #2 – Botsfolio
Botsfolio is the crypto bot software you can use to manage your crypto investment just like a professional hedge fund manager. It features an intelligence system to keep your investment secure and profitable for the foreseeable future.
With this crypto bot software, you can diversify your crypto investment to various short-term and long-term investments, which can include fixed income, value investing, futures trading, and hedging trading.
You can make your own investment strategy, and it is very easy to set up, even for beginners.
Official Website: Botsfolio
Best Crypto Bot #3 – Quadency
Quadency gives you the chance to manage your crypto trading activity in a smarter way, allowing you to get the best insights for your investment and automate your trading with low risks.
It also has integration with various popular crypto exchange platforms, so you can manage all your crypto assets in one dashboard.
This software allows you to create crypto bots that you can set according to your preferred strategy, which you can customize anytime you need.
You can also release the bot live in minutes after you create it. It’s perfect for beginner crypto traders.
Official Website: Quadency
Also Read: How to Mine Ethereum with NiceHash?
Conclusion
Crypto bots can help automate your cryptocurrency trading activity and keep your investment secure at the same time.
When you do it right, you can also increase your profit from time to time just by adjusting the preferences and investment strategy of your crypto bots.
Most cryptocurrency bot software will require you to pay some fees to use it, but some of them also offer a free trial period to let you try the software before you subscribe to its services.
Pick the one that you can trust and automate your cryptocurrency trading today!