Top 5 Benefits of Using Crypto Trading Bots and Bitcoin Robots
Cryptocurrencies and Bitcoin BTC trading can seem complicated, but after you start trading using a crypto trading bot, you will realize how simple it is.
Trading BTC and cryptocurrencies has become attractive over the years and is attracting more and more traders and individuals.
The Coronavirus/covid19 crisis and the lockdown have also led many people to seek a new source of income in crypto trading with the help of trading trading bots.
Some have made huge profits and many of them have literally become millionaires thanks to Bitcoin and other altcoins like Ethereum, Ripple, …
There are basically two methods of trading cryptocurrencies: manually or using trading robots.
A trading bot is an automated trading software that automatically trades for you and earns you profits. (Be careful, trading is also a risky activity, with the possibility of losses of course)
It is basically a computer program that creates, buys and sells orders, then automatically submits them to a crypto exchange like Binance or Kraken.
Highly skilled traders prefer to have things under their control, so they tend to trade manually but more and more are seeing the performance of new bitcoin bots in creating very sophisticated trading strategies.
Editors of automated trading strategies now offer the necessary tools and essential indicators for the trader such as smart trading, SuperTrend, Commodity Channel Index (CCI), On Balance Volume (OBV), stop loss, take profit, Ichimoku, automatic trade, Bollinger, Macd, RSI, CandleStick blocks and Candlestick Patterns, grid trading, …
Novice traders will thus find that trading robots are very convenient for them, they will give them a boost towards their success in their trading journey, by learning to trade through these crypto bots.
By using a bitcoin bot in test mode, it is thus possible to simulate trading in real market conditions, without committing capital.
Once ready, all you have to do is switch to real mode on the markets to start trading.
For example, Kryll automated trading software is one of the best crypto trading bots on the market.
It uses the latest auto trading technology and has helped many people and traders make money.
Nice and easy to use graphical interface in drag n drop mode, everything is hosted in the cloud like most crypto bots on the market, so there is no software or application to install on your computer.
Although there are many, in this article we will highlight the top five benefits of using a cryptocurrency trading bot.
1. Trading 24 hours a day, 7 days a week
BTC and cryptocurrency trading operates 24/7 around the world.
A human can be experienced and highly skilled in cryptocurrency trading thus successfully trading but a person cannot work nonstop like a bitcoin trading bot does.
Trading bots operate every day, 24 hours a day.
They even work at night or on weekends so you can grab the best trading opportunities while you spend time with your family or while you sleep.
The Bitcoin price can move at any time, whether in Europe, Asia or the United States.
At any time, day or night, the crypto trading bot never sleeps and watches for you to take action if necessary.
It relieves you of a lot of stress and leaves you free time.
2. No emotion involved
Most of the time, emotions are the cause of many mistakes that we as humans make not only in trading, but in our daily lives in general.
Traders often make their decisions based on their emotions, which results in losses.
Many newbie traders make trading mistakes under the effects of emotion and stress.
An automatic trading bot eliminates these problems because it has no emotions. As easy as that!
It executes the trading orders that are programmed, no emotion or stress intervenes to disrupt the mission for which it is programmed.
3. It is easier to start trading
The term “investing in Bitcoin” is appealing, but the start is difficult, so entering the cryptocurrency industry can be difficult for many people.
A trading bot can make the start a lot more comfortable because it helps beginners with the basics of trading.
You can learn just by watching the crypto trading bot do its job and taking advantage of the market history (backtest) and price movements of Bitcoin and other cryptocurrencies.
Copy trading and social trading are indeed booming at the moment, the technologies developed for bitcoin robots and crypto trading bots make it now very easy to copy and follow a professional trader in a few clicks on a marketplace specialized in copy trading.
This allows you to learn or offload trading if you don’t have the time or skills to do so and generate passive income.
4. Efficiency and speed
Trading robots are efficient and execute trades much faster than a human could.
You might be the best and the fastest trader in the world, you could never beat a trading bot.
The way the robot is coded is also important, because if done the right way, the trading bot will execute your trades faster and more competently than you could ever do manually.
The price of Bitcoin or other cryptocurrency can be extremely rapid and occur at a time when the trader will not be available.
The reaction of the trading bot is immediate because the crypto bot is constantly watching, computer intelligence is therefore very fast and efficient.
5. They will save you time
Trading requires a lot of time in front of a computer or smartphone screen.
A very demanding and above all very stressful job!
It takes a lot of patience and energy to be successful in cryptocurrency trading.
Time is the most precious asset, and we all try to save time.
When it comes to Bitcoin trading, the best way to save time is to use a cryptocurrency trading robot that will do the work for you because it is automated.
You will have more energy to do your other personal activities, spend time with family or friends, less stress on a daily basis, and above all you will sleep better at night without having to worry about a movement in the Bitcoin price or another altcoin that you are monitoring.
The crypto trading bot will work full time for you and free up your time, a definite plus especially if you already have a full time job!
As you read above, these are the five benefits of using a cryptocurrency trading bot, and there are even more.
There are two main factors that Bitcoin bots and crypto trading bots are important for: they help beginners get into trading and they help traders save a lot of time.
Cryptocurrency trading may seem complicated, but after you start trading with a trading bot you will find that it is easier than it looks.
This is a crucial factor in the trading journey to success, as many are demotivated and give up right away.
A crypto trading bot can therefore be a springboard for getting started in trading, an assistant of choice that makes it easier to get started in trading Bitcoin and cryptocurrencies.
See our review of the best crypto trading bots and Bitcoin robots: click here.