Can You Automate Crypto Trading?

The current estimate of the cryptocurrency market is around $1 trillion. Due to high volatility, this estimate fluctuates wildly during periods of uncertainty but grows steadily when everything is fine in the crypto sphere. The big question is whether you can exist in this market and make money consistently? The short answer is “yes”!

The trade volume alone makes it hard for untrained newbies to figure out the market situation efficiently. An auto crypto trader often becomes the only possible solution. Machines outperform humans in many areas while lacking the gut feeling that separates true money-makers from the rest. Nevertheless, those interested in low-risk investments in crypto may be interested in various automation options.

The benefits of automation

Platforms like WunderTrading offer a variety of ways to reduce idle time, hesitation, and human mistakes from the equation. Such services provide an opportunity to create an emotionless robot that will trade on your behalf without doubts and second-guessing. What are the key advantages of an auto Bitcoin trader?

  • Bots work around the clock. We, humans, have to sleep at least some times and require simple yet unavoidable maintenance. We eat, rest, and must have social lives. Machines do not have such weaknesses and exist only to fulfill their singular task: to make money without pauses or delays.
  • No emotions — no errors. Many mistakes made by people are caused by negative emotions: fear, doubt, and anxiety force us to sell too quickly or buy too late. These mistakes can be avoided by using a cold-hearted algorithm.
  • Quick thinking — good results. Humans often hesitate when it comes to making money-related decisions. We also analyze any incoming information too slowly compared to computers. Some people have trouble comprehending digital information.
  • Cheap and affordable. The expansion of the crypto market led to increased competition between exchanges and orbiting services. Today, brokerage and automation cost pennies compared to what you would expect to be charged just several years ago. Even the best automated crypto trading solution costs about $20 per month.

Use automated cryptocurrency trading software

As many companies moved to the SaaS model, the industry reoriented towards cloud computing and subscription-based pricing. While some find this whole shift annoying, there are certain benefits that you cannot ignore. You can pay a fraction of what we used to pay for such services and still access full-featured tools used by professionals.

Before the automation boom, auto buy/sell cryptocurrency was conducted only by brokers that wanted to attract customers who preferred such features. Now, we have plenty of companies focused on developing specialized bots with different purposes and embedded investment schemes. To top it all off, you can create your custom scripts and use contemporary market investigation tools that only you know!

How much does a crypto trader make?

The profitability depends on a multitude of reasons including market volatility, available liquidity, exchange API responsiveness, chosen strategy, etc. Many bots perform well only during specific periods and backtesting help to identify such periods when using them makes sense.

Using a low-risk style of investing, you can expect to earn about 5% interest monthly. Higher risks may cost you more in losses but still yield positive outcomes when you use appropriate bots in favorable circumstances. Just as in the case with any other form of investment, no one can guarantee you that you will make money.

How to choose the best service?

Automating crypto trading is not a challenging task. The trend toward universal compatibility and standardization led to the situation where many entrepreneurs dwell in the industry and build startups. However, some companies are certainly better than others. For example, finding strong competitors to market leaders like WunderTrading or 3Commas is a tall task.

Which aspects must be closely inspected?

  1. User interface plays a huge role in how quickly you learn the system and start working in it efficiently.
  2. Pricing is another important aspect of any product. Search for flexible plans and versatile packages.
  3. Multifaceted platforms offer not only bot scripting but also portfolio management and DCA/GRID.
  4. Reliability and success stories often indicate whether the company deserves your attention and money.

Since many services offer a free trial, testing before paying should be your general plan. For example, you can test various automation methods by using a 30-day free period at TradingView in conjunction with a 7-day test drive at WunderTrading.