New Crypto Trading Bot 2021
A trading bot can be a great way to automate a profitable strategy and earn some passive income on the side for anyone interested in crypto trading.
This article will discuss a cryptocurrency trading bot platform that will launch in Q3 2021, RoboFi backed by VICS token. A group of anonymous investors invests this potential project up to more than 11M USD. The article will talk about RoboFi, including how they work, whether they are profitable, and the drawbacks of using them.
Crypto Trading Bots: Are they Worth it?
The cryptocurrency market can profit in two ways. Long-term investors buy coins at a low price and sell them at a high price. These investors typically hold coins for a year or longer.
On the other hand, traders attempt to profit from short-term market movements, both up and down. Traders usually only hold a coin for a week or two, and in the shortest timeframe, traders may only hold a coin for a few days at most.
To make cryptocurrency bots worthwhile, a trader must use a strategy to earn more money than holding a cryptocurrency (I.e., long-term investing).
Because of these differences, it’s impossible to make a blanket statement about whether or not trade bots are worthwhile. Traders must compare the risk-adjusted returns they can earn with cryptocurrency bots to the returns they could earn with a long-term strategy before deciding whether bots are worthwhile.
Advantages of using a cryptocurrency trading bot on RoboFi bot marketplace
RoboFi will be the place where traders from all walks of life can come together to discuss the most cutting-edge kinds of trading. To better understand the different advantages of trading bots available on the RoboFi marketplace, let’s take a look at them.
DAO Bots: The world’s first decentralized and automated bot platform. The types of bots on this platform will be guaranteed transparency, safety, and security. A new upgrade has never been considered before on trading bots.
Running costs are low. It’s virtually free to run a crypto bot once you’ve purchased and set it up. Aside from the bot’s cost, the most significant expense will typically be the exchange’s trading fees.
Speed. Trading bots can take advantage of opportunities that a human trader would miss. Trading bots are also available 24 hours a day, seven days a week, unlike human traders. Finally, cryptocurrency bots have the ability to execute dozens or hundreds of trades per minute, far more than any human trader.
Emotionless. Trade bots are unaffected by fear or greed and will carry out whatever strategy is programmed into them. For example, a trader may find it difficult to purchase Bitcoin after it has dropped 20% in 24 hours. That’s an emotionally difficult decision, but because trade bots aren’t affected by emotion, they can make it. Whatever the strategy is, a bot will carry it out.
RoboFi has a well-thought-out and persuasive roadmap. On the telegram group, they have consistently provided new updates on the ecosystem’s progress. In addition, VICS, RoboFi’s token, has been opened for sale on Pancakeswap, which will be used to buy and use bots. The price of VICS is rising as information about the ecosystem’s launch date gradually revealed
On schedule, the most significant update will be released in Q3, and users will be able to use bots and the RoboFi Botstore. They recently released a testnet for users to try out the system.
Is automated bitcoin trading profitable?
If you know what you’re doing, automated Bitcoin trading can be very profitable. Cryptocurrency bots, in particular, can be profitable if they are programmed with a proprietary strategy. Standard strategies are included with these crypto bots, which are unlikely to be profitable.
If you want to make money with cryptocurrency bots, you must first determine what your edge is. How am I going to use this bot to implement a market-beating strategy?
Leverage can also affect profitability. You can make more money if you find a winning strategy and use leverage. Leverage, on the other hand, is risky and can result in rapid losses. To understand how to use leverage profitably with a trading bot, you’ll need to be a seasoned trader.