When cryptocurrency trading began, people were forced to learn different strategies and ways of managing risks and always be online making the trades. However, like any other trend, there are always improvements and innovations to help improve efficiency and profit margins. For cryptocurrency trading, it was the introduction of bots. Bots are automated systems designed using different algorithms; they evaluate the market and all cryptocurrencies and tokens available, select the one with the highest chance of making a profit and invest in a trader place. You should invest in a bot as a cryptocurrency trader for several reasons. Some of these reasons include;
Bots are quite efficient and reliable.
The cryptocurrency market is very volatile; implementing one wrong strategy could result in a trader’s losses. Bots use complex algorithms to analyze the market and evaluate all the available cryptocurrency assets and tokens available in the market. This would be a lot of work for a human and would take time. The bot selects the asset with high chances of making profits and invests in it. Generally, risks involved in crypto trading are mitigated when a bot is used. Human errors are also eradicated, and trades are conducted within a short time. The bots work anytime, which means the trade is still taking place even when the trader is working or sleeping.
Bots can handle bulk amounts of data.
There are dozens of cryptocurrencies in the market, and new ones are launched daily. If a trader is to analyze each of these assets before deciding on which to invest in, they will take forever. Time is quite important in cryptocurrency trading as the market changes in seconds. A human can only process a small amount of data within a specific time, which is not the case for a bot. The algorithm analyzes the entire market within seconds and settles on the assets to invest in. it also carries out several trades. It monitors them concurrently, which is not possible for human beings.
Bots are emotionless
Human beings are driven by grief for the loss, greed for more profit or excitement due to the performance of their invested assets. On the other hand, bots analyze available data and make logical decisions, thus mitigating the chances of making losses or even investing in the wrong assets.
Bitiq cryptocurrency trading bot
Several platforms offer trading bots, such as Bitiq, Binance and Immediate Edge. Bitiq offers a free demo account low minimum deposit, and the bot is free. As explained below, one should follow several steps when setting up a Bitiq account.
Step one: Sign Up
Getting started with Bitiq takes a few minutes. You just need to fill in the registration form after clicking the sign-up button. The information required in this stage includes; full name, date of birth, email address, phone number, country of residence and identification. Once all the information is submitted, the account is activated using an activation link sent to the availed email.
Step two: Add Funds
For you to trade cryptocurrencies, you need capital. Once the account is activated, adding funds becomes quite easy. The minimum deposit is $250 – this is the minimum amount required for you to start trading using Bitiq. However, it is important to separate personal assets from business funds as the cryptocurrency market is quite volatile, and you could either make profits all end up losing capital.
Step three: Start Trading
Once you add funds, you can start trading cryptocurrencies using Bitiq. Using the demo account before making actual trades; reduces the risks of making losses.
