Tag: Bot

Four Of The Best Crypto-Trading Bots

In our previous post we have learnt and understood what crypto-trading bots do and what you as a trader should be looking for while choosing a trading bot. If you haven’t read the blog, it is advised that you do so before you read about the various trading bots mentioned below:

Zignaly

This is a trading bot that is still in its development stages. However, you can still use the beta version of the app for free and make great profits from using the bot. Even though it is a new contestant to the trading bots industry, it has accomplished to win over the hearts of many crypto enthusiasts. The main reason for its prevalent fame is the transparency provided by this trading bot. Unlike other trading bots whose developers don’t share many details on how to contact them, Zignaly prides on the developer’s sincerity to the community. Users of the bot can easily connect with the developers of the bot in case of any issue that they face or even provide them with suggestions to add more features to the bot. Either way, being in touch with the developers offers a sense of trust. On top of all this, the bot also permits users to device their own modified trading strategies. Thus, giving litheness to the more practiced traders as well.

Cryptohopper

This might be a new bot in the crypto trading market. However, this novice has managed to turn heads due to the wide array of features that this bot offers. One of the downfalls of most trading bots is that they run on your local machine. This means that they run only when you have turned on your PC. With the rise in curiosity for cloud-based technologies, Cryptohopper uses cloud technology to keep the bot running 24/7. By running the bot on a cloud, users will be able to place trade orders even during the night. Thus, no chance is missed. Another key reason that led to the rise in renown of Cryptohopper is its ease of usage, particularly for the novice. The bot has unified with an external trading signaller. This means that anyone can start using this bot by running it on autopilot. This is a boon to the new traders, who need not fear afor setting trading signals for their bot. The bot also lets more skilled users mess around and set their own trading signals. Thus, satisfying the needs of both.

3Commas

Even though 3Commas bot is very new to the trading bot scene, it has been able to provide its users considerable gains, even during the crypto bear market. The unique feature that separates this bot from the other bots is its ability to trail any crypto market. This allows the bot to close the trade at the most profitable position even though the target gain set by the user had already been reached. This feature helps immensely during the crypto bull run.Additionally, the bot also allows users to trade multiple cryptocurrencies at the same time. Thus, not missing out on any good trading opportunity that comes along the way. The bot is set up on the cloud and is accessible through the website. This means that the bot runs 24X7. The bot can be configured with Binance and Bittrex right now and more reputable exchanges such as BitFinex, Poloniex, KuCoin, etc will be added soon.

Gekko

This is the most versatile cryptocurrency trading bot in existence right now. For anyone who wants to learn a thing or two about trading bots and not spend any money buying one, then Gekko is the bot for you. The Gekko trading bot is an open source bitcoin trading bot project that is accessible for anyone to use for free. The fact that it is free to use is the main reason for its wide popularity. Like any other open source projects, Gekko is free of almost all bugs and even the ones the pop are repaired up at lightning speeds. The Gekko bot can relate with several exchanges, including Bitfinex, Poloniex, and BitStamp. The bot uses a web interface to interact with the users and can run on a local machine with Windows, Linux or the Mac OS. The bot comes pre-configured with some trading stratagem. You can begin using the bot on autopilot as soon as you install and arrange it with an exchange. However, if you would like to use your own trading strategy, the bot also allows you to construct it to your liking.

Pick a crypto-trading bots that suits your needs the best and use it on one of the 14 exchange platforms that XcelToken Plus is listed on to make profits, with a touch of a button.

Features to Look for While Getting Yourself a Crypto-Trading Bot

To understand exactly what is needed in a Crypto-Trading Bot, it is essential to understand what they are, a trading bot is a software program that networks unswervingly with financial exchanges (often using API’s to obtain and interpret relevant information) and places where you can buy or sell orders on your behalf relying on the reading of the market data.

The bots make these conclusions by monitoring the market’s price program and responding according to a set of predefined and pre-programmed guidelines. Characteristically, a trading bot will analyse market activities, such as volume, orders, price, and time, though they can usually be programmed to suit your own tastes and partialities. Now that you’ve understood what they are and how they perform, here is a list of features that you ought to keep in mind to make sure that you make some profits:

1. Reliability

One of the most significant aspects to deliberate on is the reliability of a trading bots consistency. You would not want to lose on a golden chance just because your crypto bot went offline or at a standstill for some time. You might argue that there is no way to be sure about the reliability of a particular trading bot. However, you aren’t the only one using a bot. Hunt for what the other users who have used a specific crypto-trading bot has to say about its reliability or merely.

2. Security

When it comes to cryptocurrencies, you do not have anyone to blame but yourself in case of a hack. When you start using a trading bot, you are giving the bot admission to your funds. This can be very risky, particularly if the trading bot is very new in the field, there is no telling how safe a specific bot is. So, while selecting a trading bot, do a complete exploration and select a bot that has been widely commended for its safety.

3. Profitability

It all comes down to this vital component, is the bot that you are choosing lucrative or not? A question whose answer is pretty hard to find. The main reason you choose to go with a trading bot is to profit over its profit proficiency. There is no point in by means of a bot that is not lucrative. So, find out the productivity of a bot before you capitalize both your time and currency into it.

4. Transparency

The main reason why cryptocurrency rose to fame is that the whole network is entirely transparent. There is no place for any foul play. The same should be expected even from the trading bot that you decide to go with. Try to select a bot whose developers are extensively known for their work in the community. Transparency not only aids to build trust but also helps you to get in contact with the correct people in order to solve any issue.

5. Ease of use

The whole point of going with an automatic crypto-trading bot is to make the whole procedure of trading cryptocurrencies easy for everybody. A bot which comes with a simple to use interface is the one that is very popular. Being able to regulate the bots with just a limited click of the mouse is to some degree what you should look out for, in the bot that you resolve to use.

Considering all the factors we have compiled a list find yourself a crypto-trading bot that suits your needs and use them to make profits using your XcelToken Plus on any of the 14 trading platforms that it is listed on. This list will be updated in order to make sure that you receive updated information as basic necessities required from crypto-trading bots grow.