More than ten years have passed since the digital assets appeared. Every year, their popularity grew, and the number of new coins grew rapidly. Today, digital money is a full-fledged substitute for the usual payment systems, with which you can buy almost anything.
Of course, such a notable industry could not stay out of the attention of the world’s financial markets. Crypto exchanges quickly found people wanting to make money on it, and global leaders like Binance started making vast amounts of money trading digital assets.
No wonder the crypto trade is extremely popular. Because of its high volatility, the gap between buying and selling can be significant. For this reason, the ability to automate trading crypto has become a matter of time.
What is trading automation?
Imagine that you are a boss, and you delegate some of your tasks to your employees. Check your mail, answer your phone, see the latest news, and so on. You can call it automating your business process.
Cryptocurrency automated trading represents almost the same processes, but in this case, you delegate most actions related to buying and selling digital assets to a special software called a crypto robot.
Such software can perform many actions:
- analyzes the price changes of your chosen asset;
- auto buy and sell crypto;
- uses a variety of trading strategies.
We will explain by example how cryptocurrency robots work. Let’s say you want to auto Bitcoin trading, and you have some amount of Bitcoins that you want to sell for as high a price as possible. You need to choose an exchange where the trades will be executed and connect your robot to that exchange. In the next step, you determine at what price you would like to sell your Bitcoins. Let us assume it is $25000. You set this parameter in the settings of the trading robot and press the “start trading” button.
The robot will analyze Bitcoin price changes, and as soon as it reaches $25000, it will sell your coins. You don’t need to track the exchange rate or wait for a successful time to open a trade – the robot will do it for you. It won’t have to worry when the price reaches $23900 and won’t ask itself if it’s time to sell. It will sell exactly when the value of Bitcoin reaches the required price.
The described example of Bitcoin automated trading is quite primitive. There are a huge number of scenarios that crypto trading robots can use. The most advanced ones can analyze hundreds of currency pairs and decide for the trader based only on the news or social media feeds.
Where can you get a crypto robot?
The choice of crypto robots is huge, so to decide which one you need for crypto automation, first, understand the range of tasks you want to implement.
If you are still a beginner and just want to understand how it works, you can use free versions of such software. Programs that you do not have to pay for are widely available on the web and are quite popular, but you should keep in mind that they are good for learning the principles of automated trading. Do not trust them with serious money. Also, many scammers can give you viruses with this software that can steal all your money. That’s why you should be very careful with this option and always check reviews about free robots on cryptocurrency forums.
Professional traders, for whom trading on the crypto exchange is the major way to earn money, choose paid versions of robots. Most often, these are powerful software that can perform hundreds of transactions per second and track the price of many currency pairs. The cost of such programs will always be quite high.
For those who have extensive knowledge of programming and trading, it is best to develop a trading robot yourself. You will customize it according to your needs only, increasing the chance of earnings. But this variant will be suitable only for those who really know how to automate crypto trading.
There is one more variant of auto trading cryptocurrency that will be suitable for all the categories mentioned above: using robots integrated into trading platforms.
A trading platform is special software that eases the trading process. The best trading platforms, such as WunderTrading, have a user-friendly trading panel and many tools to facilitate opening and closing deals. Each of these platforms has built-in crypto robots.
WunderTrading trading robots are provided even on free platform plans, do not require specific knowledge to configure them, and easily allow you to automate many trading strategies. Therefore, they will suit both beginners who are not yet ready to invest a lot of money in trading and professionals.
