The objective of trading cryptocurrencies is perfectly identical to that of trading any other asset class: a trader buy at a low price and sell at a higher one. Unlike other markets, however – e.g. stock market – which only sometimes is very volatile, cryptomarkets are always very volatile. As a result, it is humanly impossible for a trader to sit and monitor his trades 24/7.
The high volatility of the cryptomarket can cause many stressful situations for traders. To solve this problem, technology has come to the rescue of investors, as the entire process of controlling the cryptomarket is now fully digitized, thanks to the “bots”.
What are the bots and what are they for? They are programmed to analyze cryptomarkets efficiently, 24 hours a day, 7 days a week, and to trade much faster than a trader could ever do manually. They are software that automatically execute trading operations instead of traders. They can do this because are based on pre-programmed, predefined rules. Making money with cryptotrading manually is almost impossible, due to the complexity of this market. It is impossible to beat alone millions of bots.
Trading bots are practical and allow traders to save time. Traders are limited and influenced by their physical needs. Bots do not have these needs and are not influenced by any factor. Therefore, they work more efficiently. Besides this, traders can only do one thing at a time. Trading bots do not. They can control many trades at the same time. Moreover, trading bots are much faster than a trader and execute trades as soon as they detect an opportunity for a profitable trade. Finally, traders cannot work 24/7. Trading bots can. In conclusion, cryptobots can be very profitable, not only for novice traders but also for more experienced traders.