What is the Advantage of Bots When Sending Orders?
The biggest advantage is the ability to execute orders 24 hours a day, 7 days a week. This is especially true in cryptocurrency markets, which never stop. In this case, there is no way to predict when good opportunities will arise, and that is why trading robots are so important.
Another aspect that must be considered is the possibility of trading dozens of assets simultaneously. Instead of analyzing charts individually, the robot can sift through different indicators, including different data sources.
Automated Trading Averts Inefficiency
Lastly, automated trading reduces inefficiency caused by human psychology or fatigue. Likewise, it is very common for traders to change their minds at the last minute, allowing for levels of risk that they would not have accepted before. That is, it reduces errors caused in the heat of negotiation.
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Should I Use a Trading Robot from Unknown Companies?
No. Only use trading robots that you have full confidence in the company behind the service. Even if this software does not have access to your password for withdrawals at the brokerage or exchange, you could end up being the victim of a scam.
Give preference to established platforms, officially integrated with the biggest platforms. If in doubt, contact broker or exchange support.
Beware of Third-party Spreadsheets and Apps
There are cases in which the trading robot, or spreadsheet, works perfectly for a few weeks or even months, and then executes the script favorable to the attacker, causing harm to users.
Here at the Bitcoin Marketplace we are constantly committed to maintaining the highest standards of safety and conduct. We strongly encourage customers to adopt measures that enhance their own digital security, such as the second authentication factor (2FA), in addition to the use of strong passwords. Never reveal your passwords and 2FA to other people!