Humans Vs Crypto Trading Bots: Are They Important In Trading Cryptocurrencies?

2018-11-30 21:32

Crypto Trading Bots- Are They Important In Trading Cryptocurrencies?

Cryptocurrency is absolutely a new tech that’s fast becoming the darling of the world. Even more, it is increasingly becoming a live laboratory procedure for trading at a higher frequency, as well as an area for the advancement for trading bots.

While there has been a vast number of trading bots and algos used by Wall Street companies for conventional trading disciplines, cryptocurrency markets are now seen as a new trading platform for exploring new methods and employing some marketing strategies.

This has been confirmed by Forbes which reported that the development of tools or trading software and decentralized exchanges will herald a new era of automated trading bots.

While companies are increasingly working on different software for crypto trading, it is still a sector that guarantees lots of improvements which will be revealed by the continuous expansion that artificial intelligence provides.

While the future of exchanges and blockchain tech is still not really clear, it is becoming increasingly obvious that artificial intelligence will play a large role in the near future.

Professional traders and institutional investors will need them to help curtail the risks while executing high volume trades in a semi-automated or hands free way.

Trading bots effectively help with minimizing trading limitations and makes it easy for retail investors, to efficiently use simpler tech applications through a well secured process. In fact, these trading bots can be designed to take advantage of trade inconsistencies caused by some manipulation, thus helping an investor or trader make even more money.

Trader bots with artificial intelligence, will also help improve the ease of trade monitoring as well as investment portfolio. As a result, traders can then focus on growing their portfolio thanks to the reliable and predictable returns.

Also, traders using bots are more likely to eliminate all forms of human error from their trades. In fact, last year, lots of traders made a lot of fortune from using trading.

However, it’s not all rosy as they can have their shortfalls. For instance they can continuously execute orders, even when the price of the tokens are falling, resulting in significant losses for their users.

They can also be used by individuals or corporations with malicious intent. For instance, some trading bots are known to collect personal information on your while they’re running on your PC. Others have been used to launch attacks on opponents in the market.

The Long Term Effects

These days, experienced traders make use of advanced trading tools as conventional traders are not familiar with them. As it stands, there is a common API for crypto trading, which makes it more challenging to use bots. Ironically, most of them don’t perform well when it comes to low volume trades.

Nevertheless, their continuous use in trading comes with huge costs. In the end, it is certain that bots will continue to be improved upon to meet the varieties of trading needs. This will be even more so when the crypto industry stabilizes, as they’ll play a role in helping developers with AI’s deep learning capabilities.

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Bloomberg TV Fundstrat cofounder Tom Lee says bitcoin futures contracts could be linked to the cryptocurrency’s “gut-wrenching” decline.

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