Why Crypto Trading Bots Are On The Rise

Cryptobot

Why Crypto Trading Bots Are On The Rise

Automated crypto trading bots execute trades just as humans do. Their rise in popularity is evident as many traders look to transfer some of the workload associated with trading to robots. Furthermore, the removal of psychological aspect from the trading process is arguably the greatest advantage that trading bots offer.

Although there are hundreds of crypto trading bots available today, we briefly presented four interesting trading options, with each one of them being different.

DEXBot is the native open source BitShares crypto trading bot, designed, funded, and developed by the community. Its advanced features are great for market making trading strategies.

Cryptohopper is an interesting option for traders looking for more fun trading bots as it is very well integrated with the social aspect of trading. Additional advantage is that it operates as a cloud-based platform, although the pricing is not very competitive in today’s market.

Gekko is very much designed for beginners and traders looking for straightforwardness from the crypto trading bot, hence advanced options are quite limited.

Opposite to Gekko, Gunbot is one of the most advanced trading bots out there. Its wide range of options, availability through a one-time payment and user-friendly interface present its greatest advantages.

It is of the utmost importance to remember that trading bots are not humans, and therefore, the risk is quite high, especially in the very volatile cryptocurrency market. In the end, each trader should select options that best fit their trading style and is within their understanding of crypto trading.

This article first appeared on 👉 Bitspark.io

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