How Easy is to Use a Crypto Trading Robot?

June 27, 2022 - Around 5 mins mins to read

It’s no secret that trading with crypto trading robots is much easier and more profitable than doing it manually. Well, if you’re a regular Joe or an above-average trader, that is. Not sure how Wall street does it, but certain even they apply trading robots in one shape or form.

Crypto trading robots are sets of programming programs trained to analyze market conditions and determine the best trades. They can be useful for example during the current crypto market crash, as they can prevent when is the best moment to buy or sell.

In addition, a trader can regulate the trade types and conditions when a robot can trade. Therefore, doing most of the leg work on the trader’s behalf.

This article will look at how easy it is to use crypto trading robots and everything you need to know before starting. So if you’re ready to automate your crypto trading, keep reading to learn more.

How Easy is to Use a Crypto Trading Robot?

Crypto Trading Robot Examples

Bitcoin Up

Bitcoin up is a crypto trading robot that utilizes AI and machine learning to scan the market for ideal trading opportunities. It boasts a 90% success rate, no hidden fees, and a $250 deposit to get started.

There are many Bitcoin Up reviews out there where they have a step-by-step guide on how to get started. According to the site Cryptomonday.de, “Bitcoin Up ist kein Betrug und Einfach zu bedienen, Sie können sogar als Anfänger profitable Trades Machen” This translates as “Bitcoin Up is not a scam and it is easy to use, you can make profitable trades even if you are a beginner”

Bitcoin Prime

Bitcoin Prime is one of the best trading robots on the market today. It has a demo version with a digital currency that allows traders to practice and fine-tune their trading strategies. Once you get onto the trading platform, you will have a selection of the best 75 CDFs and a range of cryptocurrencies to pair with Bitcoin. Ensuring lucrative trading opportunities are always available.

The robot also has a claimed 90 % success rate and a $250 minimum deposit to get started. In addition, the robot does not charge an account fee but does take a 2% commission on all profitable trades.

Quantum AI

Quantum AI is a trading robot that utilizes AI to trade Bitcoin, Ethereum, and Bitcoin Cash. Its powerful algorithms have a claimed market success rate of 90%, and accounts are free to set up but charge a 0.01% commission on all successful trades. It’s a good platform to get started with crypto trading robots if you’re just beginning or have been in the game for some time.

How to Get Started With Crypto Trading Robots

The thing to note about cryptocurrencies is that they are highly volatile, and prices fluctuate faster than any trader can react. In some cases, when the market crashes, Bitcoin withdrawals can be temporarily suspended.

Also, as a trader, you cannot always be on hand 24/7 to monitor how the market is doing and react to changes. You have to sleep, a family that requires your attention, and a life away from your job.

On the other hand, a trading robot you have programmed to do your bidding is always scanning the market for indicators you have trained it to. Ensuring it reacts as you would, even when not at hand.

Things to Consider Before Using Crypto Trading Robots

Trading robot type- depending on your strategy and the crypto trading you’re doing, ensure you get a trading robot optimized for that.
Risk prediction- most trading robots also help you to analyze the market and make predictions about future outcomes. Ensure the prediction metrics match your trading strategy.
Price- not all trading robots are made equal. Some come with better AI and analytical tools than others. So depending on your objective and budget restriction, pick the most affordable with the most functionality.

Steps to Get Started With a Trading Robot

Download the Programme

Go to your preferred trading robot’s website and download and install their extensions on your computer.

Add Settings

Set up your account by adding your personal details, payment methods, trading currencies, and any other information the robot might need. Payment methods can vary depending on the country or exchange you are using. In some cases, you can use cryptocurrency as a payment method to use a robot to invest in other cryptocurrencies or buy other things.

License the Trading Robot

Some robots are free to use, but some you have to buy or lease the license to use them. So depending on the one you’re using, this step might apply.

Set Trading Strategy

A trading robot will only ever be in one of two states, buy or sell. So program it when it should buy crypto and when it should sell. In addition, it’s also good to indicate when it should suspend trading.

Start Trading

After you finish this process, it’s finally time to launch your robot and start trading.

Conclusion

It is not hard to get started with trading robots, even if you have little to no information on crypto trading. Most trading robots have excellent UIs and make setting up a walk in the park. So don’t be scared of getting into the crypto trading robot scene. You’ll find it’s easier than you imagine. To learn more about training robots, visit our blog section for more content.

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How Easy is to Use a Crypto Trading Robot?

In addition, a trader can regulate the trade types and conditions when a robot can trade. Therefore, doing most of the leg work on the trader’s behalf.