It can be said that cryptocurrencies have changed personal finance as we know them. Now we can be our own bosses, generate revenue and conduct global transactions – we are living a dream. So, crypto trade bot has emerged to make our trading experience even more practical, because what is technology, but tools to make our lives easier?
What are trading bots?
Cryptocurrency trading bots are computer programs that, depending on how they are programmed, purchase and sell cryptocurrency at the “correct” moment. The goal of bots is to generate the greatest possible profit. To do this, they continuously monitor the market and react accordingly using a set of predetermined rules.
Should you consider using a trading bot?
Unlike traditional markets, cryptocurrency markets never sleep. You can trade 24 hours a day, 7 days a week, and although that is a fantastic thing, it represents a new problem for traders: no one can keep an eye on the market all the time. Since we cannot monitor the market as much as we would like. This is where a crypto trade bot 3commas comes in.
Trading bots never sleep
Trading bots are always online, and since they can keep an eye on the market for you 24 hours a day, you will have the opportunity to find new trading opportunities. We all know how volatile the cryptocurrency market can be. In a space like this, a relentless bot looking for opportunities that can exploit market conditions in an instant would be extremely useful.
Moreover, using a bot could take the excitement out of trading. As human beings, we are susceptible to succumbing to the stress of daily trading. Due to their volatility, cryptocurrency markets are even more stressful than traditional markets. This stress can cause emotions that can also affect our decision-making, leading to miscalculations that can be extremely painful in the high-risk world that is cryptocurrency trading. A pre-programmed bot could help protect us from our worst enemy: ourselves.