Crypto Bot Trading
Crypto bot trading exploded in the past couple of years with a massive influx of new and experienced traders. Staggering cryptocurrency price rallies, along with million-dollar price predictions, are adding to the interest in crypto trading bots.
Another factor that drove investors towards automated trading is the fact that crypto markets move faster and are less systematic than stock and forex markets, making it harder for traders to predict price movements using traditional tools, price valuation methods, and financial ratios.
A few microseconds slower or faster can make a big difference in the profit-making potential. A high-speed crypto bot trading platform that is equipped with high-quality tools and features and backed by artificial intelligence and complex algorithms is more likely to generate greater profits for investors than human traders. But, are these autotrading bots trustworthy?
It’s quite difficult for traders, particularly new and young traders, who often fall into the trap of unrealistic promises and testimonials, to determine which crypto trading bots are a scam, and which bitcoin robot is actually worth using.
In order to save your time and hard-earned money, TrustPedia offers unbiased, accurate, and realistic reviews of crypto trading robots to help you find the one that’s right for you.
TrustPedia, which is a leading financial review portal-based research agency and independent financial services comparison firm, perfectly segregates its reviews into two sections: best or recommended bitcoin bots and scam or not recommended.
Contents
Best crypto trading bot for 2022
Crypto investors have made whopping returns from the crypto market through automated crypto bot trading in the past couple of years. However, earnings potential is purely dependent on the trading platform and its features. Therefore, choosing the right platform is the most crucial task when it comes to crypto bot trading.
The leading portal-based research agency TrustPedia is working on the goal of figuring out the best and most legitimate crypto trading bot for 2022. A legit bitcoin robot will have several exciting features that allow it to find and execute trades quickly. One such feature is algorithms along with the bots ability to perform multiple tasks such as gathering unbiased information, classification of that data, and pattern recognition.
Scammers are taking advantage of the increasing demand for automated trading systems. TrustPedia data shows that almost 50% of crypto bot trading is scam and it is critical for traders to choose a legit platform by performing due diligence.
TrustPedia is also on the mission of spotting scam crypto bot trading and recommends investors avoid them. The platform tests every product, feature and service against several metrics. Also, it takes into account how old a particular service is, expert reviews, and customer feedback – their personal experiences with the product.
Scammers have been using various ways to trap people who don’t understand how markets work. Most of the young and new traders, who have no knowledge of crypto markets and are very ambitious to make massive returns in a short time, often fall into a trap of unrealistic claims and promises. These scammers often use fake testimonials and other material to attract new investors. It is important to note that it is impossible to recover money from online scammers.
Below is the list of scam crypto robots that TrustPedia recommends investors avoid.
It is true that traders can make big profits by focusing exclusively on bitcoin, which trades more in a systematic way and is considered less volatile than altcoins. Despite that, choosing the best bitcoin robot is crucial to generate returns and minimize risks. Traders can find a large number of btc robot trading options just by browning Google but only a few of them are user-friendly and equipped with modern-day technologies to accurately predict market trends.
TrustPedia has made extensive research and tested several bitcoin automated trading systems to pick the best for traders. These btc bots have a higher accuracy rate, advanced tools with user-friendly features.
Furthermore, these bots seem like a strong option for bitcoin arbitrage trading, which is a great option for investors looking for high-frequency trades with low-risk returns. Bitcoin arbitrage bot should be backed by modern-day technologies to find and execute transactions in less than a microsecond to take advantage of price discrepancies. The concept of crypto arbitrage is a trading strategy that exploits small price discrepancies among multiple markets and exchanges.
Below is the list of bots that TrustPedia recommends for bitcoin robot and bitcoin arbitrage trading:
Best UK Bitcoin Robot for 2022
Sometimes it becomes quite difficult to make cross-border payments and comply with tax and anti-money lauding policies when trading online. Choosing a crypto bot that offers the best services in your region is the best way to avoid any obstacles. To make your trading easier and safer, TrustPedia examined a large number of UK bitcoin robots to find out the best crypto trading platform in the UK.
Below is the list of best UK bitcoin robots for 2022:
Best Australian Bitcoin Robot for 2022
As Australians are moving faster towards bitcoin, it is really important to choose the best Australian bitcoin bot to improve returns and reduce the risk of losses. There are a number of the best crypto trading platform in Australia and Trustpedia has identified a few among them after performing extensive research and closely comparing automated crypto trading Australian options.
Below is the list of top Australian bitcoin robots for 2022:
Binance trading bot
One of the biggest advantages of bot trading directly with exchange is speed, which means there is no lag time. Low cost, higher liquidity, enhanced visibility, and increased legitimacy are among the benefits.
Below is the list of Binance trading bots that TrustPedia recommends:
Trading bots features
Trading bots monitor markets 24 hours a day to ensure that they do not miss any opportunities that are within the user’s predefined criteria. Combined with speed, bots have the potential to detect risks and make a shift in strategy to avoid losses. Bots are also useful for detecting trading opportunities on multiple cryptocurrencies at lightning speed.
Below are the common features that make bots trading successful:
Backtesting
This is one of the best features of crypto trading bots because backtesting helps investors to test their strategy before using it in live trading. This helps in fixing errors to avoid losses. Investors are suggested to always test their strategies before trading with real money.
Execution
Once you are confident that your strategy has the ability to generate strong results, you can now implement it in the real-time market. This means you will convert the formula that you hardcoded into the bot into an API request that can be understood by the exchange.
Repetitive Tasks
Bots are one of the choices when traders want to repeat a similar strategy and transactions again and again. For instance, you want to buy a bitcoin every time when the moving average increases above the 200-day average and sell when it falls below 150 day average. You just need to set the parameter and the bot will keep trading all day according to instructions.
Day trading can be a full-time job
Day traders always have to monitor the market all over the day to pick trading opportunities, which is quite a difficult and time consuming task. In addition, picking opportunities manually could expose investors to various risks and time delays. With the emergence of bots, day traders’ work load declined significantly as bots can monitor the market in a better way according to users’ input.
Strategy Implementation
Bots work according to the user’s input. At this stage, the user needs to set criteria and provide instructions for buying and selling decisions. You can also test the strategy once you set the criteria. If strategy works perfectly, you can move on to the next step.
Job Scheduler
Automating the process through the job scheduler is the next step after execution. Using Job Scheduler, unattended background programs can be executed.
Timing
The biggest and most crucial factor in trading is timing. You could miss the profit making opportunity if you missed to perfectly time the trade. Even a microsecond delay in execution could negatively impact your trade and strategy. Trading bots are designed to instantly analyze, make timely decisions, and execute trades. Due to the fact that bots constantly monitor market trends and other activities based on set parameters, they don’t miss any opportunities.
The market never sleeps
As crypto markets work 24/7, it is quite impossible for a trader to monitor the market. Meanwhile, crypto trading robots never sleep and monitor even a small volatility in the market and act based on predefined instructions. Higher accuracy level, speed and data analysis make trading bots a perfect option for the market that never sleeps.