Did you know you can harness the power of AI to do your crypto trading while you sleep?
It’s called a trading bot. Bots are computer programs that can perform tasks in an autonomous fashion. They use the power of AI to make intelligent decisions on their own without your input.
But hang on, you say. AI sometimes can’t even tell a cat from a dog. Maybe you wonder if you can trust a machine with your hard-earned digital assets.
All the top crypto investors use a trading bot. This AI can make you king of the crypto exchanges. Here’s why you need a trading bot now.
How Does a Trading Bot Work?
You might be surprised to know that arbitrage trading is already quite common in the stock market. More than 90% of all stock purchases and sales happen with the help of bots.
To use a trading bot, all you need is to set its parameters. This could be as simple as “Buy Ethereum whenever the price drops below this amount, and sell whenever it goes above this amount.”
They can perform far more complex functions. They can evaluate moving averages and the relative strength index before making their decisions. They can perform any order in your name that you like.
You can create an automated trading bot, or download a pre-made one.
In essence, a bot can do anything you can do. And it can do it with better efficiency than you can. Let’s cover some of the reasons why you need a trading bot.
A Trading Bot Never Stops
Crypto trading doesn’t stop when you lay your head down on the pillow at night. Crypto exchanges go late into the wee hours. Without AI, your only solution would be to have your friends stay awake while you sleep to keep trading.
It puts you at a huge disadvantage to not be able to trade when the rest of the world is awake. When you’re asleep, China (one of the largest economies) is just waking up. That’s a huge potential loss in arbitrage trading that you could be missing out on.
A trading bot only stops working when you tell it. These bots can work when you sleep, when you’re at work, and everything in between. All they need is a computer or device to run off of, a stable electricity supply, and internet access.
You don’t have to stop the bot to make changes. You can make the changes while it’s still running. It will apply these changes on the go.
A Trading Bot Is Faster Than You
Human reaction time is between 160 and 190 milliseconds. Even the fastest human reaction time is only about 0.2 seconds.
That’s only your reaction time. You also have to factor in cognition and decision-making.
A machine on the other hand can react and make a decision at ten times the speed. That means it can trade at blistering speeds whether you’re awake or asleep.
Trade With a Trading Bot
It’s time to leverage the power of AI. You need an AI trading bot to take over your crypto exchanges whether you’re awake or asleep. You can expand your digital assets tenfold with the help of AI.
Follow our blog for more tips on how to improve your trading.
