The cryptocurrency market is open 24/7, unlike the stock market, which closes on weekends. Also, due to its volatility, traders should make sure not to miss important trades.
Therefore, it is essential that they figure out a strategy to monitor the market. Traders want assistance since they cannot respond fast enough to capitalize on price fluctuations that will enable them to execute an ideal transaction.
Crypto trading robots must be alert and available to trade at all times if they want to make the greatest transactions. Once again, some traders can lose out on successful transactions due to trading slowdowns and transaction delays. Traders are increasingly employing crypto trading robots as a solution to these issues.
Best Bitcoin Trading Bots
Following the most successful bots, here are the best Bitcoin trading bots to buy in 2022.
1. BitIQ – Overall the best Bitcoin trading bot,
2. Pionex – Offers 18 Trading pre-sets.
3. Coinrule – Trading Bot with 150 Trading Patterns,
4. WunderTrading – Mirror Trading And Portfolio Management Features Trading Bot,
5. Bitcoin Evolution - Completely Automated Bitcoin Trading Robot.
BitIQ is a trading bot that carries out cryptocurrency transactions on your behalf. You just need to open an account with this robot, then sit back and wait while the platform discovers and executes trades for you.
The platform's trading is predicated on its AI algorithm. When the market is favorable, the algorithm can trade with a success rate of up to 90%. BitIQ states that their daily ROI is typically 25%.
BitIQ is intended to be utilized by both experienced traders and newcomers to the cryptocurrency market, claim its developers. While more experienced users can set up specific tools to personalize the robot, beginners can adopt a hands-off approach.
BitIQ has a demo mode that you can use for free to get started. There is no price for creating an account on the site. However, there is a 2 percent profit fee. You will not be charged if your account is not profitable. To get started with BitIQ, you must invest $250.
However, be aware that there is a chance you might lose money if you invest it. Using a trading robot does not guarantee a victory every time.
Pionex is a cryptocurrency exchange with built-in trading robots, and you get free access to 18 different training robots. You can automate your trading approach with these trading robots, which eliminates the need for regular market monitoring.
For traders who trade often and on the go, this tool is an excellent choice. Although manual trading via crypto-to-crypto conversions is supported, Pionex's major offering is its range of trading robots. This bot executes buy and sell orders for traders without human intervention under predetermined market circumstances.
A maker-taker fee structure is used by pionex. This implies that you only have to pay when your placed trades "take" liquidity out of the market or "create" it. You must pay the manufacturer's charge if your transaction does not instantly correspond to an active order recorded in the books. You are required to pay the taker charge if your order is matched.
You can start making lucrative trades with ease and without breaking the bank with the help of 18 free trading bots and a 0.05 percent trading charge for the creator and receiver.
One of the most popular trading robots is Coinrule since it offers the most preset trading methods. With more than 150 trading patterns that are automatically performed when market circumstances match pre-set criteria, it enables customers to tailor their investment. Coinrule often adds new models to its platform, including accumulation, stop-loss settings, and long-term holding methods.
The number of templates you can access with the free and premium subscriptions varies based on the plan you choose. While the free plan only provides 7 free pattern methods, the subscription plan gives enhanced charting features, unrestricted pattern use, and even personalized trading tutorials and courses.
A cryptocurrency automation software combining mirror trading and portfolio management features is WunderTrading. With TradingView PineScript, users can create fully autonomous cryptocurrency trading robots, follow experienced traders to make passive cryptocurrency income or execute manual trades using the sophisticated trading interface.
WunderTrading distinguishes itself from its rivals with a broad variety of trading options. On the WunderTrading platform, you can employ Trailing-stop and even Swing-trade features. Additionally, you can improve trading methods by using sophisticated trading capabilities like Take-profit and Stop-loss. With TradingView integration, you can include a wide variety of trading algorithms and technical indicators in your bots. The development of DCA and Spread strategies can also be done using their own built-in terminals.
You can control several trading accounts with WunderTrading from a single dashboard. You can duplicate transactions to all of your exchange accounts with a single click after adding your exchange accounts using the API. Trading efficiency can be improved by using the platform's extensive data, which are generated and shown on the dashboard.
5. Bitcoin Evolution
A completely automated Bitcoin trading robot called Bitcoin Evolution can help you profit from the market's turbulence. You have an advantage over other traders because of the platform's unique algorithm, which is always 0.01 seconds ahead of the rest of the market. Incredibly, this speed also enables Bitcoin Evolution to claim a trading accuracy of 99.4%.
Bitcoin Evolution is also totally free and doesn't deduct any fees from your earnings. When the market is exceptionally tumultuous, the firm provides daily earnings of up to 60%. Since the platform will pair you with a Bitcoin broker for automatic trading, Bitcoin Evolution doesn’t need you to have your own brokerage account. Just bear in mind that in order to access active trading with the robot, you will need to make a $250 first deposit.
Risks associated with using Bitcoin robots for trading
Although there are risks involved, using trading robots is not always a terrible idea. Many of these folks are novice financial investors who lack knowledge and expertise. They lack a thorough understanding of how markets operate.
The hazards of trading the financial markets are always there, but those of trading cryptocurrencies are far greater than those of trading currencies or equities. Because of how quickly the cryptocurrency market is developing, cryptocurrencies have been known to increase by up to 500 percent in a single trading day. If your robot raced in the incorrect way, a loss of this size c be quite detrimental.
While the robots are exact, there is a chance that anything can go wrong with the process. After all, the majority of robots guarantee a 99.9% success rate. The likelihood that the transaction is incorrect is less than 1 percent.
Our top recommendation for selecting the ideal trading robot
Make a note of your investor profile. - To choose the best trading robot, you must first understand what kind of trader you are. To determine that make the most of a demo account.
Verify the standing and testimonials of affiliated brokers. - The reputation of the trading robot is inextricably linked to that of the partner forex broker. You can learn more about the trading bot you choose by reading the feedback left by its present or former users. You can read a number of reviews online and follow trader advice on forums. This broker should also be subject to strict regulation.
Consider the displayed success rate. - A very high success rate is typical. Use caution if a trading platform guarantees bigger profits than others. Make sure the data you get is clear and keep an eye on the agreements in question.
Understand automated and online trading. - Even if you are new to a trading bot, it is still essential to understand the fundamentals of online trading. The robot trader won't be able to provide you access to all of the market's knowledge and abilities.
Use trading tactics and methods. - It is advisable to think about the following methods and approaches before making a choice that will affect how you trade:
· Use the retroactive test, which provides the first profitability data.
· Think about live trading statements as opposed to demo accounts.
· Avoid robots that are less profitable.
We have come to the conclusion that BitIQ is the finest choice. Under the correct market circumstances, BitIQ claims it can win up to 90% of deals and can trade 14 different cryptocurrencies on your behalf.
As a way to avoid understanding how technical analysis works, more individuals are resorting to Bitcoin robots. The unfortunate truth is that the majority of bot suppliers are con artists. So be sure to do your own research before getting started.
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