I find the entire field of crypto assets incredibly fascinating as it really is one deep rabbit hole. One of the aspects that have captured the imagination of millions worldwide is crypto trading. We’ve all seen stories of young people who found incredible riches through trading cryptocurrencies, although there undoubtedly are many (less publicized) failures too.
Trading can be a brutal job though, requiring long hours of looking at screens and usually inflicting a significant emotional toll. I was looking into how things can be simplified and structured when I came across Coinrule. I eventually interviewed the founders on the Mastermind.fm podcast.
I ended up going down the crypto trading bot rabbit hole and became fascinated by how they work.
Here are the best trading bot services available today:
In today’s world, more than half of cryptocurrency trading volume is driven by complex trading bots. Yet, 75% of all hobbyist traders cannot write a single line of code. Coinrule empowers regular traders to compete with professional algorithmic traders and Hedge funds: a smart assistant to build automated rules for crypto exchanges without having to code.
Clearly, bots can be of great help with crypto trading.
Bots use technical indicators and tools to study market prices, charts, trends and other factors to derive optimum conditions for entry or exit in a trade. The algorithm passes the order for a trade to a cryptocurrency exchange platform through application processing interface (API), which acts as a link between the exchange and algorithm. Additionally, bots facilitate automated trading in 24/7 operational cryptocurrency markets at a much faster scale than humanly possible.
Furthermore, bots can be leveraged in multiple ways to facilitate trading in crypto markets. The functionalities of cryptocurrency robots extend far beyond automated cryptocurrency trading. Novice traders, as well as experts, can access crypto bots for multiple purposes that can facilitate a seamless, effective and smooth trading experience.