Trading cryptocurrencies manually has proved to be profitable since Bitcoin was released in 2009. But, to be truthful, day trading requires knowledge and a lot of screen time. Most novice traders apply the hodling methodology when trying to earn while trading cryptocurrencies, as it is the simplest and most effortless approach to trading cryptocurrencies.
But there is another way of trading called algorithmic trading. With algorithmic trading, an individual basically does not have to do anything except signing up for a trading platform and watching. So, these trading platforms are differently known as trading bots. They basically are computer software that trades on their own using algorithms. They usually identify the right time to place trades and make profits, eliminating the whole screen time an individual would spend trying to catch signals.
There are many cryptocurrency algorithmic trading platforms out there, but here are the top five:
1. Bitcoin Revolution
Bitcoin Revolution Software is the best automated trading platform out there. It is very simple to use, and it has many advantages. All one has to do is invest $250 and watch the platform do its job. Bitcoin Revolution Website has a success rate of 99.4%, and users endorse the platform highly as it has the option to trade cryptocurrencies and fiat currencies also. Another great thing about the platform is that it has 24/7 customer support. For any possible issue that users can face, they can freely call and get a consultation with the dedicated Bitcoin Revolution team.
Cryptohopper is one of the best cryptocurrency trading bots out there. It is an advanced paid platform that’s easy to use. As a cloud platform, it allows 24/7 trading. The unique thing about this bot is that it integrates with traders who share their trading signals, thus allowing users to assign their bot to trade according to these traders’ signals. The platform has its mobile application, so one can manage and track their portfolio from anywhere and stay in touch with the trading community.
Without any doubt, 3Commas is one of the most popular trading platforms out there. Their website is very friendly, designed, and easy to use. A unique thing about 3Commas is the “Smart Trade” functions that allow one to trade manually through the software. But there are other features like native algorithms and custom TradingView features that will enable one to see things in crypto markets that other traders cannot see. The platform also allows one to analyse and copy the performance of other bot settings on the 3Commas platform.
Haasbot is one of the most advanced cryptocurrency trading platforms. It was released in 2014, and the unique thing about this bot is the “Flash Crash Bot” which gives you access to multiple bots, allowing you to implement trading strategies on various exchanges and currencies simultaneously. Although Haasbot is a great platform, it is more suited for advanced traders.
Another excellent automated trading platform is Shrimpy. This platform focuses more on smart order routing, rebalancing, and other portfolio strategies. In fact, Shrimpy stands on top as a portfolio management application. The platform has the option to copy other traders also. So if you are a beginner and you are not sure what to do or where to start, you can just copy a professional trader.
Should you trade manually or use an automated algorithmic platform?
Whether you want to trade manually or want to use a trading bot, that is totally up to you. According to coinmarketcap, there are more than 6000 cryptocurrencies available as for now, and algorithmic trading seems to be more apparent than ever before with new coins being released every day and the crypto industry expanding.
With trading bots, you can earn money more effortless, and you will gain exposure to advanced investment strategies and features while reducing the stress, emotions, and time. Also, with automated trading platforms, there is no fear involved while trading. Further, they operate 24/7, something that is impossible for a human to do. And, on top of everything possibilities are that with automated platforms, earnings are much bigger than trading manually.