Crypto Trading Bots Comparison

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Cryptocurrency trading bots are becoming more and more popular in the world of cryptocurrency. These tools help traders execute trades in their sleep to focus on other aspects of running their business. Many qualities qualify an excellent cryptocurrency trading bot, but one thing is clear: it needs to be fast! This blog post will discuss few qualities you should look for when finding the best crypto-trading Bot for your needs.

Speed

Speed is one of the most critical factors when selecting your cryptocurrency trading bot. This tool will be useless for executing good swings or day trading strategies if you cannot quickly get in and out of trades. Some bots allow traders to customize the speed at which they want their orders filled, while others take over that duty completely by using algorithms like TWAP (Time Weighted Average Price).

This algorithm calculates what price level would provide the best execution based on time instead of automatically placing orders at exact levels. It’s up to each trader to decide whether they prefer customization or algorithmic control over order placement speeds; both have benefits depending upon personal preferences plus market conditions. The Crypto Genius trading platform is the only tool that allows traders to customize how quickly they want their orders filled which makes it a unique trading solution.

Stability

What good is a cryptocurrency trading bot if it crashes every time the market moves? A great deal of money can be lost in a short amount of time, so stability should always be a top priority. Many bots on the market ensure that they are stable by using Telegram for communication or APIs from trusted exchanges like Poloniex and Bitfinex.

This provides low latency trades between your computer and these services, ultimately leading to faster execution times. Stability also comes with automated features such as Slack integrations. In addition, you can set up alerts when certain conditions have been met within the markets, something many traders require before executing their pre-planned strategies.

Multi-Currency Support

Having the ability to trade multiple currencies is an essential feature for any cryptocurrency trading bot. Not all bots are created equal, so you should check out their features before committing your money and time to a product with options that you don’t need or won’t use.

Some of these tools focus on specific exchanges like Bittrex. In contrast, others allow traders to pull data from dozens of different services simultaneously, giving users complete control over customizable strategies via APIs they’ve built in themselves.

Security

It’s a bad idea to trust your money with any cryptocurrency trading bot if it is not secure. Most of these tools offer some sort of security feature where users can set up their own “hardware tokens,” similar to two-factor authentication devices like Google Author Authy, except they’re used for securing the platforms themselves rather than individual accounts.

This allows traders to keep complete control over their funds without having them stored on an exchange service that may be hacked at any time; especially during periods when the markets are highly volatile and unpredictable, as we saw just last week with Bitcoin Cash (BCH) and Bitcoin Gold (BTG)

Customizable Indicators

Indicators and signals are an essential part of any cryptocurrency trading bot. If you do not have a strategy for executing trades based upon these conditions, you will likely lose money over the short to long run, depending on your timeframe.

Conclusion 

All in all, many factors should be considered when choosing a cryptocurrency trading bot for executing trades automatically on your behalf. Do not rush into anything and always do plenty of research before committing funds or digital assets into any product that has yet to prove itself as fully reliable and trustworthy over time.

 

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