Trading bitcoin bot from TradeSanta
Bitcoin trading bots (bitcoin bots) are special software that allow you to set up automatic trading of this cryptocurrency. Thus, the trader gets the opportunity to conclude transactions much faster, which will allow him to save time for other things. Traders who prefer to use cryptocurrency bots have a significant advantage over those who make trades manually.
How Bitcoin trading bot works
The working principle of the bot is quite simple. It analyzes the state of the market, after which it buys and sells assets according to the parameters entered in his settings. Thus, the trader calculates in advance the characteristics of the transactions that he is going to complete. Unless, of course, the right situation in the market comes.
TradeSanta is a popular automated trading platform. It offers bots for a large number of coins, including Bitcoin (btc bots). Using the bot is simple enough. You just need to follow this algorithm of actions:
- Create an account on the TradeSanta platform.
- Connect the exchange account to the bot via the API key.
- Choose a trading strategy offered by the platform. Proficient traders can customize the characteristics of the strategy on their own.
- Enter detailed parameters in the bot. For example, at what values to sell or buy an asset.
TradeSanta is a cloud-based platform for automating cryptocurrency trading. Thanks to this, you can comfortably make changes both from a PC and from mobile devices on Android and IOS operating systems. The platform offers users to run two bots absolutely free of charge if your trading volume is less than $3,000.
Bitcoin faucet bots can trade on the following exchanges:
- Binance;
- Huobi;
- OKX;
- HitBTC;
- Bybit;
- Kraken;
- FTX.
Advantages and Disadvantages of Bitcoin Auto Trading
Before you start automated trading with btc bots , you should familiarize yourself with the main advantages and disadvantages of this process. The benefits include:
- automation of the process – with the right strategy, trading will bring you a stable passive income, you only need to make changes to the bot in time;
- no intermediaries – you do`nt need to use brokers, you can trade directly through exchanges, which saves money;
- 24/7 Service – TradeSanta offers high quality technical support to its customers;
The disadvantage of Bitcoin automatic trading is the high volatility of cryptocurrencies. Therefore, it is better not to engage in crypto trading for those people who do not have knowledge in trading on stock and forex exchanges, financial markets, stocks, etc.
Crypto trading bot strategy by TradeSanta
The platform offers 2 main strategies when it comes to bitcoin trading on HitBTC. The DCA strategy is suitable for those users who prefer to trade large volumes of assets. There is a long-term DCA strategy that prefers buying assets when their price is falling and selling when the asset price exceeds the Take profit level. A short-term strategy involves selling an asset when its price rises, and after the price falls to a certain level – buying.
There are many different strategies that users can set up with btc bot.
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