As we entered the 21st Century we have been witness to huge development in all technical sectors. everything from how we order a taxi with Uber, book a room when travelling with Airbnb, watch movies with Netflix and shop Amazon, we have all seen and felt the benefit of the technological advance business and entrepreneurs have made over the years. One Technology in particular that some would not even have thought of as tech at the beginning but it starting to be more widely adopted as a household, we are talking about Cryptocurrencies
, and the technology behind called Blockchain.
Cryptocurrencies, or more so Bitcoin
, which was the first to come into existence in the financial market in 2010, yet was not commonly known until around 2017 when the media really started to pick up on it during its Bull run. Back then Bitcoin had limited uses in trading, there was no real volume and to be honest, people that bought or mined this virtual currency didn’t really know what it was, what it could do or where it was going to go. Well, that was until 22nd March 2010, computer programmer Laszlo Hanyecz made history when he bought two pizzas using Bitcoin
(BTC). He paid 10,000 BTC for two Papa John’s pizzas. Valued at $41 at the time. Today that will be worth well over 100 million US dollars!
Anyway, over the years more and more Bitcoin was mined and people start to see the potential that this virtual currency had. Not just Bitcoin but over coins starts to arise from the idea of owning your money, taking out the middle man and decentralising the financial system.
As more and more crypto holder came on to the scene, many crypto exchanges
began to pop up and today in 2021 you have many to chose from but trading crypto is not easy, and it can be very risky.The Rise Of Automated Crypto Trading
Eventually, automated trading platforms began to rise and over the years became even more advanced. Automated trading goes by a variety of names such as Algo-trading, high-frequency trading, system trading, and algorithmic trading, and I’m sure there are more.
It is an effective and creative method of improving your profit margins. Automated trading allows crypto traders to create strategies at scale without the need to code or sit in front of a screen all day waiting to enter or exit that perfect trading position.
These automated crypto trading bots are enhanced trading automation software. Think of your normal way of executing a manual trade but unlike the automated trading systems, they don’t have the same efficiency, accuracy or speed.
Automated Trading bots can present a variety of complex algorithms to its users, some can even be a minefield to understand. However, these trading bots have developed popularity in recent years after the increased risks and volatility in cryptocurrency markets.
These crypto bots can work around the clock, giving greater control of your assets and bringing efficiency and improvements to your trading experience.
Trading bots can be used for carrying out tasks such as setting kick-in prices, the buy and sell of profit percentages, upper and lower restart strategy levels, and you can even decide on a lock-in-profit level so that the trading strategy will terminate automatically.
When you create an automated crypto strategy you are simply developing a road map for executing the buying and selling of a chosen market and cryptocurrency pair.This pic was taken from the previous version of Yanda