Can a Crypto trading bot really generate money?
Purchasing Bitcoin years ago has led many people into a better financial situation than they expected. People getting into the cryptocurrency ecosystem now are also hoping for the same parabolic growth, but not everyone has disposable income to consistently invest into their cryptocurrencies, so most people try their hands at trading. The main complaint people about actively trading is that there is a learning curve, and it’s also time consuming. This is when the question of “Can a crypto trading bot really generate money†appears. Thankfully, the answer is and has been, yes. Automated trading can trade 24 hours a day, making you money while you sleep, and it can also monitor market conditions that fluctuate in ways that you might not notice.
Arbitrage trading with Bitrage
Traders have attempted to take arbitrage trading to a new level for a long time, but doing it by hand has consistently had its problems. In traditional markets, stock exchanges opened and closed due to time zones, as well as cultural relevant holidays, so trying to skim profits while taking these variables into account have led to most giving up this pursuit.
Will Bitcoin make me rich ?
Bitcoin has become an investment vehicle for a long time, especially given its meager original worth of less than a cent, to its all-time high of 20,000 dollars. There are no certainties in any investment, but with mass adaption slowly but surely occurring, a lot of people feel very sure that when the next halving occurs, Bitcoin will surge in fiat value again. There have been a lot of cases of early adopters of any technology becoming immensely wealthy by simply just holding onto their investment, so even though bitcoin has existed for nearly ten years, that’s only a small-step into its overall intended lifespan.
What is the GUNTHY Token and How to buy a Gunbot License
How does BitRage work
Bitrage takes all the hassle of stalking exchanges endlessly by automating the entire process.
Fees are automatically factored into the profitability of possible trades, so you don’t have to quickly write out formulas to figure whether or not an arbitrage trade would result in a net loss, which in itself is quite amazing. You still have to select your own trading pairs, so don’t think you will just add every trading pair on every exchange and instantly succeed.
Within the Bitrage interface, you can set your minimum gain percentage before you sell, as well as tell Bitrage not to let trades result in huge bags of coins that can’t be instantly traded away ( bags, as it’s commonly referred called, are coins that you unintentionally end up with due to a trade or purchase that doesn’t go well ).
You will also be able to enter in how much the trading fees are on your particular exchange(s) so that you can add that to the overall cost of your trades, once again to ensure get bitcoin that your trades are profitable, even after all the fees are incorporated. If Bitrage scans a opportunity trade, and sees that you would not be able to instantly make your requested profit gain, even after fees, it will ignore that trade opportunity. Do keep in mind that if for your trading fees you put, for example, 0.75 as your trading fees, this will be a percentage, a sum of all the trade fees involved in your trade. So overall, your arbitrage bot will not commence that trade unless you have a trade that will profit you +1.75 % gains.
Learning to trade through a trading bot
In summary, to the question of “can a crypto trading bot really generate moneyâ€, with a crypto small bit of attentiveness and a steady internet connection, the answer is yes. Trying to HODL in hopes for better days can be a heavy burden and end up in a consistent devaluation of a coin you invest in. Day trading can be very time consuming, yet at times not as rewarding as even a minimum-wage job, regardless of the amount of time you invest into it. Emotional entanglement with your investments can lead you chasing green candles and ending up with heavy bags repeatedly, so removing that risk by trading with something like the Gunbot trading bot can give you more free time, as well as maximize your overall profitability.
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