Automatic trading software for BTC
Automated trading platforms, powered by configurable cryptographic robots, are becoming more and more common. What are the advantages and disadvantages of these market-leading platforms – and should you use one? We review the best trading software for bitcoin and crypto currencies in general.
How does an automatic trading software work?
A crypto trading robot is actually a software program designed to analyze trading data from the crypto currency market. Once you have acquired one, you need to customize it according to your preferences. Then the software will analyze the market for you and automatically perform the transactions. In this article we review some of the best trading robots available. With the many crypto trading robots available, it can be difficult for a beginner to choose the best. It is therefore important that you are aware of some factors to consider when making your choice.
Here are the elements to take into account when choosing a trading software on crypto currencies:
- Reliability: Trust is a key element of success. The robot must be functional and reliable over time.
- Transparency: all the details of the software’s operation must be clearly stated.
- Profitability: care must be taken to do business with a company that has some of the best strategies and software.
- Ease and cost of use: the performance of your investments will largely depend on the cost of using the software in relation to its efficiency.
- Security: you must consider the security of the software before using it (piracy).
- Compatibility: it must be able to work and be compatible with the platforms you use.
- Options: you will obviously have to go to the product most adapted to your use (customization).
4 trading robots of bitcoin and crypto currencies
For a complete list of trading bots and more detailed reviews, check out bitcointradingbots.com.
1) Zenbot: it is a free robot that uses artificial intelligence and offers new functionalities such as the practice of arbitrage. It is also capable of making several transactions simultaneously. The main trading platforms are compatible with this robot. Bitcoin is a cryptocurrency particularly suitable for automatic trading.
2) Gunbot: Created in December 2016, this robot allows the use of more than 36 passive and customizable strategies. Its community counts several thousand active traders. It works with the largest platforms such as Binance or Kraken and is sold as a lifetime license with updates included.
3) Gekko: It is a robot for trading Bitcoin, it was developed by the Github community and its developers. It is fully customizable. It is supported by many platforms and remains free.
4) Haasbot: This robot offers a lot of possibilities and allows to fully automate trading using advanced trading models. Haasbot is compatible with the largest traders such as Gdax, Binance or Kraken and it is not free of charge. Find out more at haasonline.com.
Risks and innovative solution
When traders start, they can make a lot of mistakes. However, they learn from these mistakes and improve through experience. Beginning traders who use trading robots do not make mistakes and therefore do not learn anything new.
The only thing they know is how to configure their robots, which is inadequate because a robot cannot make good profits without a competent trader. Ideally, one could say that these robots can work all day long without any human intervention. However, this is not true. In reality, there is a possibility of mechanical failures, such as connectivity problems, power loss or computer crashes. These can be harmful because sometimes the internet connection is bad, which can lead to the loss of orders.
Trading robots operating on crypto currencies present many risks to be taken into account. Dealing with trading robots can sometimes become dangerous due to security issues. For example, robots can be hacked and they can copy important data from an account and send it to a third party. In addition, these robots are very expensive. Some of them make you pay very high prices for automatic order placement, whereas it is rather the upstream analysis work that needs to be particularly developed and efficient.
It will undoubtedly be more efficient to have an expert software in opportunity detection and then only place the orders rather than a complete robot that places the orders for you without being particularly precise in the analysis and detection of opportunities. This will generally prove to be much more cost effective for you.
EnBourse develops this type of solution: Autosignal, a powerful and innovative software that carries out for you all the work of searching and monitoring graphic opportunities on many products in parallel (efficiency and considerable time saving).
Autosignal is entirely configurable (targeted markets and securities, time units, types of patterns to spot…), it indicates you all the graphic opportunities as soon as the figures occur and details them on a graph with the key levels (opening, breakeven, protection).
All you have to do is monitor the software alerts and take the positions. This intuitive and exclusive software can help you prevent some of the risks that traditional trading robots pose to your investments. This is an excellent compromise. Indeed, given the presence of many exchange robots, it is imperative that you are very vigilant. Do your research and analyze all the features of the software to ensure that you are dealing with a reliable and trustworthy robot and company.