When Bitcoin was trading at less than 1 cent in 2010, very few traders dared to invest in by then a new cryptocurrency. In fact, not many believed digital coins especially Bitcoin, which was a new thing in the industry, was worth investing in. But what has changed ever since that we have investors raking in millions in profits today? Well, experts believe that the development of Bitcoin bots has played a significant role in this. But how did this happen? We are going to look at how automated trading bots are helping investors make millions in trading crypto coins.
Here are three ways Bitcoin bots are changing cryptocurrency trading for the better.
Automated Bitcoin Trading
Initially, Bitcoins could only trade manually. The user or the investor needed to set some time to sit in front of a computer to trade. As you can guess, trading time was limited to the time the investor was available. That means you could only make profits depending on the amount of time that you were available online. But the introduction of Bitcoin bots such as CAT (Cryptocurrency Automatic Trader) bot brought a new era of automated trading. A bot is simply a kind of software that works in much the same way as a human manning the desk. It has a user interface that traders can interact with.
All you need is to set trading limits, and the bot will do the rest. As for the case of CAT bot, you need to set the lowest the highest you can sell and buy to avoid making losses. With such settings, the software will continue trading 24x7x365 until you stop it. That is one way how people are making passive profits in terms of millions of dollars.
Flexibility and Ease of Use
Ease of trading cryptocurrency is one thing that makes Bitcoin bots stand out. Unlike the past when traders could only access the platform via the windows, most of the bots such as CAT are java driven apps compatible with most of the operating systems. That means the trader can trade comfortably on the go on their smartphones. It is such flexibility that has enabled mostly traders to monitor their Bitcoin and other altcoin activities closely at any time of the day. Today, you can check how the market is doing and make the necessary adjustments to improve profits. You can stop activities if you realize that you are losing money and vice versa. It is also important to note that most of the bot such as CAT can trade other exchanges supports including Binance, Bittrex, Yobit, Kraken, Crytopia, Poloniex and more.
The beauty of using Bitcoin bot is timely updates. Most of the frameworks including CAT bot come with a rich user interface that provides users with all the necessary information about the market. In such advanced automated platforms, traders get prompt and accurate data on the state of the market. So there is no more guesswork in trading Bitcoins and other altcoins. As a trader, you can tell when it is ripe for business and when it’s not. With these frameworks, investors are adequately informed while making decisions.