Is it safe to use a crypto trading bot?
Trading your cryptocurrency with a cryptocurrency trading bot does run a few risks - there is no disputing that fact. Any time that you decide to hand your money over to a third party, you are accepting the risks in the hopes that they can render greater gains.
Crypto trading bots are relatively new software which has been developed in favor of an immature market place. So why on earth would people want to entrust their valuable cryptocurrency to a cryptocurrency trading bot?
Firstly, not all trading bots are created equal. Free or very cheap crypto trading bots should definitely raise red flags and you should avoid them. Usually, the software will be underdeveloped with regular crashes and unreliable predictions which can leave you at a huge loss.
Like all things, the boom of an industry can also lead to scams popping up and these will have to be avoided if you're looking to successfully trade with a cryptocurrency trading bot. Fortunately for you, there are numerous online forums, such as Reddit, which keep people updated on the cryptocurrency trading bot scams and a simple search will usually give you the information you require to make the best decision for your cryptocurrency.
Our cryptocurrency trading bots will not hold onto your currency, they will simply use API to trade on your behalf which means that we do not have access to your funds. There are also free trial options offered for your convenience because testing out a trading bot before purchasing is always a good idea. We want you to have peace of mind when moving forward with our well-developed cryptocurrency trading bots.
But should you still trust a reputable trading bot system to successfully trade your cryptocurrency?
Even the best software can succumb to errors and nothing is guaranteed, however, the decision that you have to make is whether the errors made by a crypto trading bot will have a lesser effect on your cryptocurrency than your own human errors.
People are not perfect and we can miss a simple calculation which could result in a loss that could severely impact your cryptocurrency fund - a mathematical error that a crypto trading bot will not make.
Human beings are also at the mercy of their emotions. We tend to enjoy the thrill of a gamble and we may make a trade based on these emotions instead of using sound logic and sticking with the observed trends of the cryptocurrency market. A trading bot will never rely on emotions when making a decision and it will make decisions based purely on facts and logic.
Your cryptocurrency will be safer under a crypto trading bot as it will take far fewer uncalculated risks than you would.
Our platform does not physically hold your coins or your assets and simply uses an API to trade on your behalf on your preferred platform. You are in control. You can also use your own trading signals to determine how and when the cryptocurrency trading bot trades your cryptocurrency.