Table of Contents
Can I make profit from automated crypto trading bots in 2023?
To become a professional crypto trader or to earn good profits, years of experience and huge market research were required in past. And, trading cryptocurrencies is quite challenging as many variables are involved with this. Even expert traders have to struggle consistently to earn profits.
But now that crypto trading bot are available, anyone can use them to trade any asset without any technical expertise. Automated crypto trading has become the latest market trend which involves trading bots to automate the trades. So, what are crypto trading bots? How can one use them? Who all can use them in their trades to increase their chances of winning? And what are the types of bots used on different exchanges?
While some bots are more suitable for beginners, others offer capabilities designed smartly to be used by advanced traders.
Crypto trading bots
Trading bots for cryptocurrencies are the software programs that perform trading on behalf of the trader. All you have to do is to just choose the right trading platform and start using trading bots with some preset rules. You can also program or customize them to meet your trading needs. We at Growlonix offer a variety of crypto trading bots which can be connected via API to different exchanges like Binance, KuCoin, etc.
Additionally, you can change the settings on any bot to make it buy a certain crypto asset at a certain time or price according to your trading strategy. These bots execute instructions, and cannot change as they don’t have emotions, which will further save you from huge losses. Today, these bots don’t require any technical skills to operate, thus, making trading easier.
Today, more than 90% trading is done via these bots. Trading bots can quickly automate the market analysis and interpretation of statistics. They collect data from the market, interpret it, calculate the market risks and execute the buying and selling of crypto assets. Using a trading bot is similar to hiring an expert to perform crypto trading for you while you sit and watch the profit growth.
The strategies which trading bots implement while trading crypto assets can do anything from automated trading to construct custom strategies to advanced real-time arbitrage. The possibilities in the crypto trading world are endless, and the trading bot implements a strategy which usually relies on algorithms created by the developers.
Growlonix is one of the best and most comprehensive crypto trading platforms that allow its users to make use of a variety of trading bots to earn good profits.
How to earn profits from automated crypto trading bots?
After setting up the bot on Growlonix, one can begin to carry long or short trades. For the short trades, a rise in crypto asset price will result in the execution of the sale of the underlying asset once it reaches the predefined profit level.
On the other side, in case of price reversals, safety orders can be placed so as to make sure that the bot makes purchases at a given percentage increase in the price.
Different types of bots used by crypto traders
There are a variety of crypto trading bots available which are built on buy or sell strategies, and are quite common in the crypto sphere. Main types of bots used by the traders are:
- Arbitrage bots
- Coin lending bots
- Market making bots
- Trend trading bots
All these bots have different features and offer brilliant ways for traders to earn well.
Growlonix’s trading bots
We provide the best crypto trading bots in the crypto arena which are compatible with various crypto trading platforms to trade crypto assets like Bitcoin, ETH, Altcoin, etc. Our trading bots beat the competition even when it comes to pricing. Their affordable bots provide access to the premium features of crypto trading at very low prices.
The trading bots offered by Growlonix can work easily with the exchanges like Binance, BitFinex, Coinbase, etc. The Binance trading bot works on a grid trading strategy for Binance futures. And, if you are a newbie and don’t know how to set grid bots for Binance, we are here to help you.
And, if you prefer to choose a third-party profit or personalized strategy, you can not only automate it using Growlonix platform’s crypto trading bots Binance but you can also earn more profits on it taking advantage of the leverage offered with Binance Futures. You can either make a personalized trading strategy or third-party strategies in Growlonix.
Trading bots help traders in ensuring that they are interacting with the market and market trends, even if they are not available physically. At Growlonix, traders can make use of trading bots with Binance API with an AI advantage. It’s not like other trading bots in the markets as users can take benefit from the well-tested strategies over here while enabling you to increase your gains/profits and reduce the losses and risks.
Best crypto trading bots for beginners and advanced traders to be used in 2023
The best trading bots which beginners can use easily in 2023 are listed here:
- Cryptohopper
As a leading crypto trading platform, cryptohopper is serving both novice and expert traders. Our trading bot is a vital tool which offers several features to help traders make wise and smart trading choices. Mirror trading is also offered to copy transactions of expert traders.
- Pionex
This platform allows users to either trade manually or use trading bots which automatically buy low and sell high. The platform offers unusual combination bots like grid bots, arbitrage bots, DCA bots, and more to determine the fair buying price.
- Bitsgap
The crypto trading bot at Bitsgap allows its traders to set the range and limits for their crypto trading investments, and then allows them to open and close positions in that range automatically. The grid trading bot for Binance at this platform works on both the long and short strategies, and allows users to place orders. While Binance is one of the largest crypto exchanges in the world, there is no surprise that all trading bots discussed support this platform. Use any of the above platforms to begin trading cryptocurrencies in the right way and right away.
