The coin craze is all people talk about nowadays. You either hate them or love them. There’s no in-between. Today, we’re going to talk about how Cryptobots can make your life easier while trading these Shitcoins!
Although only 38% of crypto users trade with bots, we can easily call those the ‘top of the pyramid’! Basically, this percentage is in charge of most of the money moved in the industry, the so-called ‘Whales‘!
Not to mention that most institutional traders use bots in stock, forex, and other digital asset trading. Crypto trading using bots is fully LEGAL, don’t worry about it.
So, we can safely say that using a trading bot can indeed help you trade and make lucrative transactions efficiently!
Without further ado, let’s jump right in!
What are Cryptobots?
Essentially, Cryptobots automate the whole shitcoin trading process by using current indicators by buying and selling cryptocurrencies for you at a profit.
Basically, you can set the profit on whatever amount you want to make (2%, 3%, 5%, 7%…). After that, the Cryptobot will do the trades for you; it is DESIGNED for that sole purpose.
How Do They Work?
- Analyze market data.
- Generate signals predicting upcoming trends.
- Predict the risk in the market.
- Execute trades accordingly.
Types of Cryptobots To Trade Shitcoins With
Coin Lending Bots
We previously went over the best ways to make money the DeFi route, and lending coins was one of the best methods!
In a nutshell, coin-lending bots automate this process, allowing you to spend less time trying to find the best interest rate and capitalize on potential spikes in lending options.
They study the market and options and find a balance between loan supply and demand. As a result, you get the best interest rates for all currencies supported.
Market Maker Cryptobots To Trade Shitcoins
These Cryptobots sell to investors as frequently as possible at a price higher than the selling price. Is this market manipulation? Maybe.
The potential profit for market maker bots will increase as the trading activity on a specific asset increases.
In detail, they scan markets around the clock and at all times, giving the trader more advantage.
Technical Trading Bots
It uses predefined technical indicators to look at the metrics on the charts. Then, it takes action immediately.
Arbitrage Cryptobots
Arbitrage (Noun): The act of buying an asset in one market and simultaneously selling it in another market at a higher price.
These Cryptobots are designed to monitor the different prices between cryptocurrency coins, shitcoins, and tokens across multiple exchanges.
Why? They are automated to buy a coin in an exchange where the price is lower and sell where it is higher (at an advantage).
Best Cryptobots On The Market in 2023
There’s no shortage of online information on various options for Cryptobots, so I’ll just mention a few of the highly rated ones:
1) 3Commas
- Portfolio tracking and management
- Analytics of trading performance
2) Kryll
- Streamline Crypto Trading
- Crypto Builder (No coding knowledge needed)
- Marketplace
- Trading Terminal
3) Pionex
- Pionex provides 16 free trading bot
- Reasonable Trading Fee of 0.05% for the maker and taker.
4) eToro
- Follow traders and copy their strategies easily.
- Trade 20 + cryptos.
- Learn from millions of investors worldwide on one of the world’s largest social investing platforms
5) CryptoHopper
- Trading tools: bot backtesting tools, configurable and saveable templates, trailing stops, and customizable technical indicators.
- No mobile or desktop apps, just web.
6) Mizar
- No monthly subscription fee or upfront costs
- One-click bots copy trading with profit sharing
Can Cryptobot help you trade Shitcoins?
It is a known fact that skilled traders use crypto trading bots to generate huge profits. However, if you’re the type of trader who makes hasty decisions based on a lack of explicit knowledge of the market, you can surely lose money regardless of using crypto trading bots.
Always take note that bots aren’t fully automatic; they require the user to set parameters that guide how it acts. So, your Cryptobot won’t magically generate income trading Shitcoins if you have ZERO ideas about what you’re doing!
Is there a risk with Cryptobots? Absolutely. The cryptocurrency world comes with its own pitfalls. You can lose some of your money or even all of it. But, it’s just like any other investment. Stocks, real estate, and starting a business all come with RISKS!
All in all, this depends on your risk threshold and what you’re comfortable with! Always do your research and be responsible before you jump head-first into anything to mitigate the losses as much as possible.
Stay educated and stay tuned for more!