Crypto trading is profitable due to the high volatility of digital assets. Prices may change even many times a day, so traders take advantage of rate fluctuations using different trading methods. Some imply long-term investment, and others are designed for intensive intraday trading.
Since trading can be very dynamic, traders must keep track of the market changes and not overlook a chance to place an order. It takes a lot of time, and even 24/7 monitoring is insufficient because of the human factor. We are not robots, we need rest, time with family, etc.
Here comes automated crypto trading – programmed bots that work instead of humans. The operations and transactions occur according to the parameters you set for the bot 24/7. Bots can’t miss out on any trade that a human could do. Let’s see how automated buying and selling of cryptocurrency works.
Types of bots.
Programs for trading can be of the following types:
- Arbitrage bots. The asset rates vary from platform to platform. Traders can make a profit from this price difference. This bot monitors the rate difference and allows you to earn from it. The bot tracks several platforms at the same time.
- Advanced bots. Traders can adjust the bot from scratch.
- Trading bots track tech analysis figures and conduct automated buying and selling of cryptocurrency within one exchange.
- Signal bots gather data and recommendations on trading to repeat in your trading plan.
- Script bot. You buy a crypto bot and configure it manually.
- A market-making bot is able to place positions in the order book and increase liquidity.
Consider the Revenuebot. It does not require your intervention or configuration. So you don’t have to know all the details of tech analysis or scripts. All you have to do is to make initial settings. The bot is available on the WhiteBIT exchange. Revenuebot operates with only credible and legal crypto platforms.