Haasbot is a trading bot that uses artificial intelligence (AI) algorithms to monitor the crypto markets and make trades automatically. The principle is that the crypto market never sleeps, and we’ll assume that you do, even during the last few nightmarish weeks of price drops. So while you’re asleep, the trading bot will keep things ticking over for you, buying and selling according to the parameters you set for it.

So is Haasbot worth it? Here, we take an in-depth look at the tool so you can make up your mind if its a worthwhile investment for managing your trading activities.

Well, the overnight trading element is only one part of it. The AI algorithm of a bot can analyze market trends far more quickly than a human working manually, especially in the high-speed, high-stakes world of cryptocurrency trading. It can then execute trades on your behalf, also more rapidly than any mere human. For any trader, both of these reasons can be a huge bonus, as it’s stressful and time-consuming to be on constant alert for market movements.

For new traders, bots like Haasbot may be even more valuable. To a crypto noob, the sheer volume of new information to consume can be overwhelming. Therefore, using a bot can help to automate a few initial trades, allowing a new crypto enthusiast to look back over the bot’s actions at leisure and learn from what it is doing. New traders should still try and learn something about crypto trading before investing in bot software.

Haasbot is one of many trading bots available on the market today. The software is owned by HaasOnline Software; a company initially set up by Dutch software engineer Stephan de Haas. HaasOnline released Haasbot in 2014, and since then two upgrades have been released. Haasbot 4.0 will hit the market in 2019.

(Little fact nugget: “Haas” means “hare” in Dutch, hence the bunny-like logo of Haasonline.)

The Haasbot packages contain four different components:

Haasbot offers access to fifteen different bots, depending on your pricing tier. How you want to trade will govern which bot you choose. Some examples are:

Insurances are special conditions that must be fulfilled to execute a buy or sell order. They set specific rules for the bots that work to protect your profits and minimize losses. Some examples:

A safety is a defined event that will trigger a buy or sell. Safeties are designed to prevent you from suffering losses from significant drops in the market where an insurance may otherwise only prevent a buy transaction.

Examples of safeties for Haasbot include:

You can use technical indicators to analyze market conditions for supply and demand, which can give buy or sell indicators. Haasbot has dozens of technical indicators available, depending on your price tier.

Some of the more straightforward examples are:

By configuring bots with insurances, safeties, and technical indicators, you can set a number of different Haasbots to run depending on your circumstances, and to which Haasbot price tier you’ve subscribed.

Haasbot integrates with 20 different exchanges including Binance, Bittrex, and Gemini. 

Haasbot offers three different tier levels, and you can subscribe for either three, six or twelve months. All plans include support for all exchanges, customer support, and core features. However, the Beginner and Simple plans don’t include access to all of the bots, insurances, safeties, and indicators that you get with the Advanced plan.

You can see the pricing offers for the six-month plans below (pricing is in BTC).

Haasbot pricing – 6 month options

You can also compare the features of the different tiers before buying.

If you want to compare Haasbot to some other trading bots on the market, then you could also check out 3Commas, Cryptohopper, Gunbot or Gekko.

The most important thing to keep in mind is that any trading automation, Haasbot included, will only work according to the rules you set for it. If you’re a crypto trader who’s made money in the current markets, then the chances are you can set up Haasbot to execute your current strategy without any detriment to your income.

However, if you’ve previously lost money in crypto, then Haasbot isn’t going to turn that around. So if you choose to invest, it is definitely worthwhile considering how you would put it to use. At least, make sure that your trading strategy means you can cover the expenses you lay out on it.

The post Haasbot – Is Automated Cryptocurrency Trading Worth It? appeared first on CoinCentral.

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