Contrary to popular opinion, trading crypto with bots is actually massively underrated, if you know how to use them right.
What’s up with crypto trading bots, you say? You may or may not know but in the last 10 years, 90% of human traders have left large trading centers. They’ve been replaced by boxes with wires that are so intelligently constructed that they can place thousands of orders simultaneously in seconds.
The motive is undebatable: at certain things robots are much better than humans. Multiplying two or three 6-digit characters will likely take you a while but a bot can do it faster than you can blink. Therefore in this line of business, they’re so much better than us at making decisions that there’s no point in competing
Do Bitcoin Trading Bots Work?
Just like with Terminators, machines are taking over the world. The only question is: will you join them or perish?
What Are Crypto Trading Bots?
Bots are essentially code that can execute commands according to how you want your trades placed. You create the code yourself (which is difficult) or buy custom programs somewhere, implement them, and they place trades for you. Some of them are successful, others aren’t. It’ possible for bots to suck, by the way. Some bots out there will only lose money for you.
Crypto Trading Bots: Warnings
One thing you have to watch out for is people selling you custom bots on unregulated forums or shady darknets. Usually for tens of thousands. Thanks a lot, pineapplefox135654! Sounds like a cakewalk.
Obviously, when you find out the software is not to your satisfaction, you find “the user has limited the number of people that can contact them”.
Nominex knows, with exponentially rising numbers of security breaches, hacks (hi, Binance!) and misdemeanors related to virtual security on all fronts, that scam artists and hackers aren’t asleep behind the wheel.
If you’re buying a bot from someone you don’t know it’s easy to get a virus or code that doesn’t work. Also, getting your money back isn’t exactly viable, so you need to make sure you do your research first. How?
Nominex knows reputation is everything in this line of work. If we were you, looking for a good bot we would do the same as what’s usually done when you’re looking for a good exchange: check out the reviews, ask around, see what you can dig up on Reddit. The community remembers. The Internet never forgets. Trade responsibly and don’t rush into anything you don’t know about.
Crypto Trading Bot Algorithms
Achtung! Crypto trading bot best work with plenty of customization, so make sure you study them and find out exactly how they work and how to set them up.
There are many different types of bot algorithms.
For example, for arbitrage trading, it’s important to make quick decisions almost instantaneously with small profit margins. That’s something humans are very limited at, and bots are ideally suited for this purpose.
Scalping is another niche where machines are just perfect. A lion’s share of trades done at the very top is executed by machines. And so using a bot of your own to make steady profits scalping is probably the most intelligent use of your time.
Important! Nominex does not endorse or encourage the use of certain brands or names. Usage of custom bots is entirely your responsibility. Do due diligence checks and keep in control of the process at all times. A comparison of reviews is key.
How Do Crypto Trading Bots Work?
A robot essentially places different types of orders for you, taking advantage of the fact that they’re insanely fast (and their human counterparts are furious). There are always risks, of course, but if chosen and customized right these can be tremendously helpful, generating you thousands, if not more, every week. Sky is the limit. Especially with Bitcoin, which will likely rise in price in a couple of years, multiplying your profits even more.
Crypto Trading Bots: Machine Learning
No doubt you know the AI (bots, machines, whatever) is learning amazingly fast. Artificial intelligence is used to train surgeons using Augmented Reality, create deepfake videos, pilot planes — and that’s by no means even 1% of the list machines are capable of. If they can operate an 18-wheeler truck, there’s no reason why they can’t do something as simple as placing orders and generating profits for you.
AI is learning all the time, and mark our works — in a couple of years traders who don’t use bots will be laughed at, like those who pay for coffee with dollars, not Bitcoin, in 10.
Best Crypto Trading Bots 2020
As we said, we don’t do endorsements, and finding the right bot will probably be up to you because you have to accept the responsibility that comes with it. However!
Youtubing this H3 and checking comments and using bots with small sums will eventually get you making profits without getting actively involved. Science is amazing, huh?
Check out Nominex’s awesome functionality such as safe demo trading, a bountiful array of indicators, and plenty of winning strategies in the blog section. We’ re here to help!
Alternatively, you can learn more about the bots at https://nominex.io/blog/2020/07/02/crypto-trading-bots/