Bitcoin Trading Bot

Is Bitcoin a good trading instrument?

Cryptocurrency price is highly volatile. Does it mean it is a bad instrument of trade? Certainly not. Bitcoin is a phenomenon which was expected by many people sick of fiat currency and its centralisation. The other coins and tokens may come and go, but Bitcoin is likely to survive all the storms. Volatility may provide a very good bonus to traders. So Bitcoin can be considered ideal for traders - it is not likely to collapse and gives good chances for raising money especially if you can create an automated bitcoin trading bot.

What is a Bitcoin auto trading bot?

Any bot is software which is developed to make deals instead of a man. It is a good time-saving vehicle which can be of great help to an investor. A bot for Bitcoin trading - is a bot which buys and sells Bitcoin for other currencies and sometimes for fiat money. One can insert parameters which is a signal to the bot to make a deal - actually, that is the simplest way to use a bot. A person cannot spend the whole day long expecting when Bitcoin will be less than USD30 000, but a bot can.

What are Bitcoin day trading bot strategies?

Day trading is the most popular way of trade among beginners. It means that the deals are closed very quickly - usually in one day. So the bot for Bitcoin trading has usually managed the way it can make several deals each day. There are different strategies. Among them are:

Trend Following Strategy

This is the simple way of trade. The bot reacts to the market changes: if Bitcoin starts getting up, the bot buys it just to sell when it will start getting down.

Arbitrage

Arbitrage trade is the number of simultaneous deals which can give the possibility to raise money on the price difference in various markets.

Market Making

This is a strategy that allows buying huge amounts of Bitcoin and profit from the spread.

Scalping

This is the strategy when one does not wait for a substantial change in the price to make a deal but utilizes the small ups and downs. The profit is generated due to a huge number of deals.

Helpful Functions of indusCrypto

If you are keen to create Bitcoin trading bot for free and don’t want to limit your activity to just one resource or waste plenty of time logging in to multiple sites, indusCrypto is what you need. This platform offers easy access to as many as thirteen well-known and reputable exchanges. Its excellent interface is so user-friendly that even a beginner is unlikely to make mistakes when using it.

indusCrypto specializes mostly in automated buying and selling crypto. Here you can easily set up an unlimited number of bots. With a trading bot, Bitcoin or any other currency will be bought or sold according to the strategies you pick or build yourself. Nevertheless, if you prefer trading manually, you are welcome here, too.

Another function that is quite popular is copy trading. Beginners enjoy it because it spares them from having to make decisions all the time, which is undoubtedly stressful, especially at the start. Experienced users adore this function since it allows them to benefit with less effort.

All you need is to subscribe to trade signals from signal providers and configure your online bitcoin trading bot accordingly. Signalers are traders, whose performance record is available to all – at least at indusCrypto it is so. Whenever this person purchases or sells cryptocurrency, your automated tool will receive a notification about it and can make the same transaction. Therefore, you will be following the actions of a professional, who has better odds to succeed than, say, a novice who came to the exchange a few days ago and hasn’t yet learned how it all works.

But please remember that there is no such thing as some ‘one-fits-all solution’ or ‘the best strategy’ in automated cryptocurrency trading. Cryptocurrencies’ prices oscillate; it is extremely difficult or even impossible to accurately predict how the situation changes in an hour or two, not to mention long periods of time. The same is true for placing orders manually.

So, setting up your bots and choosing strategies is no joke. At the outset, you can use one of the available templates and adjust them later, fine-tuning them according to your needs.

Of course, it is always advisable to take your time and conduct your own research. With this information, you will be able to create your own strategy, taking into account elements such as the market situation, your trading volume, the cryptocurrency pair you choose, and many more. It is difficult, but it will pay off in the long run. And who knows, maybe in a few years you'll be a signaler whose activities are watched by thousands of subscribers.

Bot settings