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The Best Cryptocurrency Trading Bots to Use on Binance Exchange
Before crypto, people had been trading in foreign exchange and stock markets since the beginning of time (or the introduction of fiat currencies, to be precise). Although the folks who had mastered all the ropes of investment trading acquired obscene profits, the inception of Bitcoin and other cryptocurrencies introduced a whole new realm for enthusiastic traders.
If you are starting crypto trading, you should know that there are two strategies you can use. You can either trade manually on an exchange if you are equipped with the necessary trading skills or solicit one of the top crypto trading bots in the market.
That’s right! There are trading bots you can use to help you keep track of this highly volatile market to your advantage. These bots give you control of crypto trading and, in turn, help you counter market volatility.
So, What Exactly are these Trading Bots?
In layman’s, a crypto trading bot is an application that interacts with cryptocurrency exchanges via numerous APIs to obtain and interpret relevant data. Then place buy/sell orders on behalf of traders depending on the market statistics analysis.
A crypto trading bot will examine market actions, including volume, orders, price, and time, but they can usually be programmed to fit individual portfolio management preferences.
Many trading bots have been developed with different algorithms, some built explicitly for the Binance exchange, while some are made to suit the entire market with different strategies.
This extract will look at famous and publicly-available bots you can use to trade on Binance in 2023.
1. Haasbot
Haasbot is the most advanced automated trading software solution currently available than others, doing much of the work with relatively minimal input required from the user.
The trading bot software is well-fitted, with various indicators covering close to 50 multiple indicators and custom bots. The software is also designed to accommodate less-experienced traders’ needs, thus enabling a more comprehensive customer range to make a profit.
The software offers Multiple Exchange Support, which utilizes multiple exchanges to allow HaasBots to keep BTC trades going even when your leading exchange goes down.
It also has Granular Control of your HaasBot, allowing users to configure a Bitcoin HaasBot to buy with one indicator, sell with a different indicator, ensures trades cover fees, and protect your investment from market crashes.
Moreover, from our market view, the bot allows users to conduct technical analysis, execute manual trades, and watch multiple markets.
HaasBots aren’t only for Bitcoin; they can trade any crypto altcoin pair that Binance or other authorized exchanges support.
In short, the platform offers automated trading that allows you to trade 24 hours a day, seven days a week, 365 days a year, when you automate your crypto trading strategy with HaasBots.
2. Margin
Margin [Margin.de] is easy to use an algorithmic trading tool built with a robust trading terminal that supports Binance Exchange.
The bot supports Binance and other top exchanges, such as Bitstamp, Poloniex, BitFinex, and OKcoin, with further additions already in the pipeline.
The software implements two automated trading strategies to help traders maximize profitability from their crypto trading.
Firstly, you can take advantage of the Margin Maker feature that lets you quickly adapt to the cryptocurrency market’s ever-changing course, allowing you to set all the desired parameters via quick drag-and-drop in the graph.
Secondly, the Ping Pong trading strategy allows you to set rigid numbers as your buy/sell prices, leaving the software to work from there.
The possible earnings will instantly be displayed on a graph, excluding applicable exchange fees.
3. 3Commas
The automatic crypto trading platform integrates numerous exchanges, including Binance, Binance US, Binance DEX, Binance Jersey, Bitmex, Bittrex, Ethereum Wallet, Pro Coinbase, Huobi, Huobi US, Kucoin, OKex, and many more.
The automated crypto trading platform features a SmartTrade terminal that allows users to execute orders and trades, set bot-trading, and stop-loss/profit positions.
The site is well-designed, with a vertical menu on the left to highlight the site’s functions. Everything is clear: whether you want to create a crypto bot, an automatic crypto-trading strategy with classic options like stop loss, take profit, automatic trade, or create a 3commas trading bot.
The trading bot lets users manually fix stop-loss and take-profit targets while including a social trading feature where inexperienced traders can copy the platform’s most successful actions.
Moreover, users on 3Commas can utilize the interesting ETF-Like crypto portfolio feature, which allows them to build, study, and back-test a cryptocurrency portfolio and pick out the best-performing portfolios created by other users.
Conclusion
Crypto trading is an effective way to generate passive revenue even during a bear market.
To avoid wasting time trying to grasp the market’s technical aspects while missing out on many trading opportunities, you can use trading bots and gain money without too much effort.
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As aforementioned, each crypto trading bot usually possesses features and interfaces adapted to different types of crypto traders’ expectations and expertise.
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