Automated investing: Most traders understand how big of a role emotions play in investing. This can help diversify your portfolio and spread out risk. Diversification: Bots can use a variety of strategies. Can oftentimes be customized to support different needs. However, with trading bots, the emotional aspect is completely taken out of the picture and can lead to much better risk management. However, the bots allow you to do other things and let the bot take care of the trading. Increased efficiency: Trading can be very time-consuming, as it takes hours each day to comb through the markets and look for opportunities.
More time on the market: Unlike the stock market and the bond market, the cryptocurrency market operates 24/7. Crypto trading bots provide you with additional hours of exposure without requiring you to be actively monitoring your positions. Prior knowledge: Using bots requires prior knowledge of crypto trading to determine which bots will work best for you. The customization settings can also be very sensitive, which could be an issue for a beginner.
These bots can be sorted by several parameters to find the one that suits you best. In terms of security, the platform requires users to create their own server to trade, which can help increase security. All of the bots are free. Gunbot is one of the more advanced trading bots on the market, but it can be a powerful tool if used correctly. It has tons of customization options. Supports over 100 exchanges.