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Crypto Trading Halal Or Haram

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By using an automated trading bot, you can essentially trade on a 24/7 basis without the risks of fatigue. On the contrary, bots allow you to extend your exposure to the global Bitcoin trading arena around the clock. Ordinarily, you would only be able to trade on a certain timezone, meaning that you stand the very real chance of missing a key market development that occurred outside of your main trading session. However, the benefits of an automated trading bot in the context of time goes far and beyond just fatigue.

What we really like about the design interface at Cryptohopper is that the platform also allows beginners to build their own bot. Moreover, the Cryptohopper interface will let you know if a certain trigger has been inserted in error, which is neat. The provider does so via a simple ‘drag and drop’ platform. Most importantly, Cryptohopper has a fully functioning pre-live testing arena. In a similar nature to the ‘IF/THEN’ function found in Microsoft Excel, you need to tell the bot what to do in certain situations.

One of the biggest pain-points for seasoned traders is that cryptocurrency trading platforms are often limited in what they offer. For those of you that are looking to install sophisticated strategies into your Bitcoin trading endeavours, an automated bot is ideal. By this, we mean that the number of order types available will often be capped at basic market and limit orders. While we will explore the specific strategies available further down in our guide, this includes a range of technical indicators and triggers that subsequently transition into market orders – all of which can operate across multiple exchanges 24 hours per day.