For ages human beings have been trading based on their instincts and calculations, dividing their time between different aspects of their lives. However, with the passage of time, and progress of technology and innovation, and emergence of Artificial Intelligence, automation has come to existence. Automated systems have been introduced in different areas of the world, in order to automate human processes which previously consumed a higher amount of resources and produced a lesser amount of output.
One such area is the crypto market. Automated Trading Systems (ATS) also referred to as Crypto Trading Bots have been introduced in the crypto market in order to automate crypto trading and make it a lot more efficient.
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In this article, we will be discussing 5 reasons why we believe bots are the best method to trade your crypto:
1. Bots are a preapproved tried and tested system
More than 90% of all the trading activity which occurs at The New York Stock Exchange is done through the Automated Trading Systems (TS). If you are wondering why this is the case, you ought to read upon the advantages of ATS thoroughly. One of the core advantages of automated systems or bots is that they work more efficiently than us human beings, meaning that they trade crypto more effectively specifically in this topic under discussion.
2. Bots work and operate endlessly
Human beings have several roles and responsibilities in their lives to which they have to cater to. Some people are teachers, while others are cooks at restaurants or engineers working on a building. To be precise, everybody has to earn a living through a job, and such people invest their savings through these jobs in the crypto. Humans, therefore cannot essentially trade throughout the day in the market whilst ignoring all the other activities, as they have other activities to attend to. Given that nobody can dedicate the entire day and lives to trading 24/7, this is where automation comes in handy. No matter who you are, what you do, as long as you are using bots to manage your crypto reserves, they will be operating without any breaks throughout the day, analyzing price fluctuations and making decisions accordingly, which are the best for you, preventing losses and maximizing your crypto.
3. They don’t have emotions
One aspect of human beings which is both a blessing and a curse is their emotions. Where emotions help us feel and sense whatever is happening around us and enables us to react in a particular way to them. They allow us to be creative in certain ways as well. However, when it comes to making rational decisions regarding certain serious things such as trading decisions, emotions can rather act as a barrier, affecting our ability to make the best of the decisions. In this case for example, there must have been an instance in every trader’s life where a sudden volatility in the price trends created a wave of panic among the traders. This is because human beings are emotional beings and react in certain ways to certain stimuli – in this case panicking to the price drops. In fact, over the course of time, several major stock exchanges have experienced volatile price trajectories, during which these exchanges closed the market for a while in order to counteract panic selling. By doing so, they make sure that the traders get enough time to reduce the panic and rethink rationally by evaluating the available information more accurately and making well-informed and rational decisions accordingly – something which is innate in the bots.
4. You have a complete control over these bots – they reflect your choices
What we mean when they say that they reflect your choices is that, when you set up a crypto trading bot for your crypto, you are still in control of your crypto, as the bot will operate based on your setup choices and configurations. You are the one who is still making main decisions by changing or adjusting the configurations and guiding the bot how you essentially want it to trade. In simple words, the bot will be doing whatever you would do had you been trading instead of the bot. This is what we mean when we say that the crypto trading bot will reflect your trading style and choices, even when you are not present yourself.
5. Bots are quite simple and convenient to use
Now having made it absolutely clear that the crypto trading bots are quite efficient and better at trading crypto than human beings, it is time to evaluate their level of complexity and comment on it. For those who think that despite all these benefits of bots, they are nonetheless quite complex to use and not for everyone, well they are mistaken. These bots are formed and designed in a way to provide a service to their users, offering them ease and convenience rather than another problem to deal with. Users have been provided tutorials and guidance in order to ease their process of setting up the bot and starting out crypto trading through them. So, one does not require a specific degree or certification in order to be able to operate a personal crypto trading bot. Also, for those who do not know anything regarding crypto trading and specifically via bots, there are several digital platforms such as YouTube etcetera where many professional and expert traders are sharing their experience, wisdom and tips in order to help and assist beginners and rookie crypto traders.