There are only so many hours that you can sit at your computer watching the markets intensively. By using an automated trading bot, you can essentially trade on a 24/7 basis without the risks of fatigue. In fact, you’ll likely suffer from trading fatigue, meaning that you might make a somewhat flawed decision that you would not have made earlier in the session when your mind was fresh. However, the benefits of an automated trading bot in the context of time goes far and beyond just fatigue. On the contrary, bots allow you to extend your exposure to the global Bitcoin trading arena around the clock.

Don’t forget, the Bitcoin markets can often move at a rapid pace, meaning that you stand the chance of missing out on a particular opportunity if trading on a DIY basis. As we have already discussed the ins and outs of arbitrage trading in the context of an automated Bitcoin bot, we won’t expand on this any further. Instead, by instructing your Bitcoin trading bot to engage in dollar-cost averaging in an autonomous manner, you’ll get exactly what you want without needing to lift a finger.

The only way that you would be able to do this without the aid of a bot would be to sit at your computer for long periods of time. Dollar-cost averaging has been utilized in the traditional stock market arena for decades on-end. On the contrary, you could instruct your bot to leave half of your gains open, and proceed to make two additional orders. One order could instruct the bot to exit the trade if Bitcoin goes down by 1.5%, and the other could repeat the original order by cashing out half of your gains if Bitcoin goes up by another 5%. This can be repeated indefinitely until the -1.5% exit point is realized.

The Crypto Trading Bot Game

So now that you have a basic understanding of what a Bitcoin trading bot actually is, in the next section we are going to outline some of the main benefits that a bot can offer. What are the Benefits of a Crypto Trading bot? Before unravelling some of the many trading strategies that an automated bot can execute, we thought it would be a good idea to outline why you might want to use one. Check out the following benefits of using a Bitcoin trading bot. First and foremost, Bitcoin trading bots solve a major problem in the wider cryptocurrency trading sphere – time.

CryptoTrader is somewhat different from the other Bitcoin bot providers that we have discussed thus far, not least because it operates on the cloud. Not only does CryptoTrader give you the option of building your bot from the ground-up via coding, but you can also purchase a proven strategy via the marketplace. As such, there is no requirement to run the bot on your system. We also like the fact that you can pre-test your strategies on all of the exchanges that the platform supports. Moreover, if in certain situations you want to take over from the bot and trade an event manually, CryptoTrader can send you notifications when a particular price-point is triggered.