Have you day traded crypto or thought about giving it a shot? Well, who can blame you when there are just so many insane opportunities out there. However, the problem is that crypto markets trade 24/7 and unless you want to live off Red Bull and coffee, the chances are you will miss a ton of these opportunities in your sleep. That’s why 100’s of thousands of traders are using crypto trading bots.
🤖 What Are Trading Bots? 🤖
They are computer programs that trade on your behalf with a given set of instructions. That might be something like buy X amount of Bitcoin at a certain price. Once the price hits that target, then the crypto trading bot will execute that order.
❓Pros & Cons Of Bots❓
Pros: ► Trade 24/7 which stops you from missing opportunities. ► Takes the emotions out of trading. ► Backtest your strategy. ► Simplifies trading.
Cons: ► They are not a magic money machine. ► They need to be constantly monitored. ► There are a lot of scams. ► You need to keep funds on an exchange.