What is a Bitcoin Exchange: Bitcoin Bots Explained.
Bitcoin is the world’s largest public cryptographic digital currency and is powered by a secure network that allows everyone to have the chance to own it and transact with it to buy goods and services around the world.
Bitcoin also helps countries that are experiencing high FIAT currency devaluation and who are restricted from using online payment services such as Paypal, Stripe and other online payment companies, giving them a level playing field on purchase power and investing opportunities. Bitcoin and other cryptos really have opened up doors that much of us in the more developed countries have not even thought about. Read more about how bitcoin and bitcoin trading help developed countries grow.
Bitcoin was founded in 2009, and the cryptocurrency has seen it’s worth and usage increase exponentially over the years and as a result, its online digital trading has also increased. Tens of billions of dollars worth of Bitcoin and other cryptocurrencies are traded every day in platforms called cryptocurrency exchanges around the world.
The basic purpose of its online trading is simple: purchase low and sell high. Some traders purchase it and then hold it for longer periods of time commonly known as HODLing, while others operate on much shorter turnaround times such as day trading or swing trading strategies. The main objective, however, with any trading strategy remains the same: buy low, sell high and utilize the profits between the two trades to continue making more.
And this is exactly what Yanda help you achieve but automatically. Buy crypto, sell crypto, make more crypto and repeated accumulating more crypto with each trade to increase your crypto value with each bitcoin bot.
Bitcoin and other Cryptocurrencies are Traded Round the Clock
Since Bitcoin trading is not limited by anyone central trading exchange unlike the stock and forex markets, it is continuously traded 24/7. A majority of the conventional trading markets close down and are often limited by office hours.
Day trading crypto or trying to make profitable trades intra-day is tricky and one needs to be in the game, watching all the time when having positions, especially if you are leveraging! And, let’s face it, is near impossible to keep your eye wide open and focused 100% or you risk losing a considerable amount of money in a price drop or missing out on big trading opportunities and no one wants that to happen.
So how can one be in the game all the time especially around the night when he/she is getting that much deserved and needed rest?
Bitcoin Trading Bots
There are two ways to beat the crypto markets and be able to trade it constantly.
1. Taking shifts in trading with other people.
2. Use Bitcoin automated trading bots, or simply put crypto trading bot as you can trade more cryptocurrencies than just Bitcoin.
Bewarned though… Even taking an approach of trading in shifts can still lead to human error, different trading styles and judgement at any one moment.
What are Bitcoin trading bots?
Trading bots are automated Bitcoin trading algorithms or programmes that you can use to actively start buying and selling currency pairs in cryptocurrency markets even when you are not awake or available to take action on a specific market movement that you pre instruct with a set of rules.
There are a few options available in the market and they have become much easier to use over time and most require no coding experience. While most of these trading bots available in the market require you to sign up to a monthly membership subscription there is now a way that you can trade cryptocurrencies automatically for free.
By signing up to Yanda you have the power of a crypto wallet, crypto exchange but with free enhanced automated crypto trading bots included for free! so it’s a great way to trade crypto markets for beginner traders and more experienced crypto traders.
You can, of course, try some of the other paid options out there and carefully analyse each for the one that you like most, and you can even exhaust their free trials but why prolong the wait when you can get started with Yanda right away and trade crypto automatically for free. Plus we have over 1200 markets pairs you can choose to trade so we really do have everything you need.
What are the Features of a Good Bitcoin Trading Bot?
A good auto bitcoin trading bot has the following characteristics:
- It can easily be programmed to a user’s requirements. Bitcoin trading bots that are too complex need to be avoided. (Yanda is not complicated)
- If you are someone that wants to do some of the codings then there are option out there but if you are like me and coding is not an option then Yanda is the perfect trading solution for you as our tech team has done all the heavy coding for you and turned that code it into a trading platform that’s easy to use and that can handle the most volatile market conditions.
- Profitable. Make sure that the trading platform has been profitable for other traders. This one is probably the most important as it is the main reason that you want to trade Bitcoin and other cryptos in the first place, right?.
At Yanda, our traders have had a 97% trading success rate over the last two years. Need I say more… Show me another company that can say that.
Is there a place for manual trading still? of course, I still do some parts manually, like the action to buy Bitcoin or to convert one currency to another but if I want to be profitable, as I’m sure you do then I’m going to use trading bots 100%.
If you have a busy life and are concentrating on more than just trading like me, then using automated crypto trading bots, without doubt, is the best thing you could do for yourself going into 2021 to start the new year off with a bang and start making consistent profits.
These bots also offer you slight risk mitigation, options between different trading strategies and do all of your work for you. Keep in mind that a bot doesn’t execute instructions out of thin air on its own. Whatever strategy you put into it, it will execute, so it is very important that you have a certain level of understanding of how manually trading works before jumping into automation to execute trades.
It is also very important to study trading and see what different kinds of trading functions and terminology used like limit sell orders, stop orders, stop-limit orders and such before going on to use an automated cryptocurrency trading bot. The great thing is that once you have figured it out, a trading bot can help you make the trading process more efficient, less risky and more profitable… Which we love!