FX.co ★ Five reasons to use bots in cryptocurrency trading

Most market participants prefer trading in the cryptocurrency sphere using trading robots. Experts analyzed the reason for such a necessity for AI assistants. They identified five causes of this phenomenon.

Ease of use for beginners

Since December 2017, when the price of Bitcoin surged to high levels, many new users have come to cryptocurrency trading. For beginners of the cryptocurrency market, trading bots have become irreplaceable assistants and guides in the digital asset market. According to experts, it is very easy to use trading bots. They are user-friendly, reliable, and are considered an excellent option to start.

High efficiency

According to experts, the efficiency of a trading bot far exceeds human capabilities. Specialized robots perform the most complicated calculations in a fraction of a second. Their role in trading cannot be overestimated: according to analysts, robots make 99% of all transactions on Wall Street. For an AI assistant, you can purchase a special package of settings developed by an expert and enabling you to trade under any market conditions.

Time saving

In the course of independent cryptocurrency trading, a trader has to constantly monitor the state of the market. This process requires a lot of time and increased attention, which often leads to serious stress. With a trading assistant, this work is carried out more actively and more productively, it takes less time that could be used doing other things.

The possibility of round-the-clock trading

When trading independently, a trader is limited by physical abilities: it is too difficult to monitor the state of the virtual currency market at nighttime. Such actions could have a negative impact on the state of health. Trading bot is irreplaceable in such a situation: it does not sleep, does not get tired, and can trade on a round-the-clock basis. The key trading strategy is to buy small lots of altcoins, expect a growth of 1-2%, and then move to Bitcoin price charts. In order to generate income from this strategy, you need to monitor the state of the market around the clock.

Extra income

For most market participants, cryptocurrency trading with the help of a trading bot becomes an additional source of income. According to experts, even if your experience in working with digital currencies is little, using such a robot is a suitable way to make a profit. With the help of bots, you can monitor the cryptocurrency market, find out about the nuances of a number of altcoins, and learn how to use new technologies.