What are cryptocurrency trading bots and how do they work?

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Are you considering becoming a crypto trader? Then you should note that the best assistant for beginners is a trading bot. Actually, even advanced traders use these bots. Everyone needs to use automated algorithms when it comes to crypto trading, obviously. This specific field has its own features that make it different from the traditional market deals. For example, everyone knows that traditional trading has its time out, unlike the crypto market which never stops. But there is more than one distinction between these two worlds. The high volatility of the crypto market makes it extremely unpredictable as the price fluctuations occur within a few minutes. That is why we need crypto bots that never sleep, dont hesitate and make a thousand decisions in a fraction of a second.

If you want to save your time, nerves, and other resources while you are making money  — then using crypto trading bots is the best choice for you. It is best to use trusted platforms. For example, you can easily start your trading today with the official Binance broker the Jet-Bot copy trading platform. Just follow the instruction on the website and you can start gaining up to 6000% APY.

What are cryptocurrency trading bots?

Imagine a program that is acting like the most intelligent spy. It knows everything about the current situation on the market as it is constantly monitoring it. Also, it can give you some signals and information about any change. In addition to it, this program does exactly what is designed to do at the perfect time to do this. Simply put, crypto trading bots are smart algorithms that can buy and sell your crypto, manage your investment portfolio and bring you great profits. This can be considered almost as a passive income as bots can help you to be free from boring repeated actions. Each bot is a set of indicators and parameters that automatically conduct a transaction on the crypto exchange when the purchase or sale signal is determined. Most of the time the bots are tuned to a certain market and a period of time to make the results more predictable. 

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How do trading bots work?

There are different types of bots that have various models of operation. Of course, all of them use the ancient ultimate rule: buy the dip & sell the rip. But there are a lot of sophisticated models on top of this. For example, trading bots are built on the basis of user-selected indicators. 

These bots can be flexibly configured, you can use a combination of indicators to create your trading signals. Arbitrage bots are used to profit from price differences between different exchanges. You can buy tokens on one exchange, transfer to another exchange and sell them there. This threatens low income (or loss), as transactions go long and the difference may already disappear. There are many variations of this basic trading strategy. Order-bots are customizable bots that are executed when certain market conditions are deployed. They can be combined together to automate trading strategies. Some of them stand out as script bots or other types. 

Bots connect to exchanges via API. It is done in a few minutes, nothing complicated and the network is full of instructions. Then the data is collected and orders are opened on the basis of them. One of the best exchanges that support the API is Binance. 

 How can I use a crypto trading bot?

Here is the most interesting part where we can apply some tips to get you a brand new bot just in a few clicks. Of course, you can learn how to develop your own bot but then you need to start coding a little bit. This can demand a huge amount of time and puzzle you too much. Then you have another scenario — you can buy some ready-made bot on the internet. But you should note that the crypto world is like the Wild West. It is full of scammers who want to steal your personal data. How can you find out if the bot is real or not? You can go to the official crypto exchange and find there some trusted brokers. 

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For example, one of the trusted Binance brokers is a copy trading platform Jet-Bot. This platform has all you need for an easy start. You can register in a minute and choose the best option: to design your own bot with custom strategies or to use the bots made by the other platform users. So, basically, you just have to register, choose a bot and start trading. 

Users of the Jet-Bot https://jet-bot.com platform are making up to 2000% APY annually or even higher. There are users whose bots are so hot that they can earn additional profit from providing copy trading services to other customers of Jet-Bot. Top traders of the platform can earn up to $10k monthly or higher depending on the number of subscribers. Feel free to join the Jet-Bot community to ask more questions on crypto trading!



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