Can anyone explain to me what crypto bots are, how they work and if they are profitable? I heard about it yesterday and I do not know where to start looking…
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Sounds effective, have you personally used them and seen profits? Do you suggest a certain one?
I don’t use bots
The bot i have used in the past are grid trading bots but there are many types, a grid trading bot will place buy and sell orders in a specific price range that you set. If the market is mainly sideways (going up and down inside a certain price) they will constantly buy and sell in that zone. Bots are also in forex and other markets not only crypto.
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Come up with a profitable strategy and automate it. That’s essentially what the trading bots do. Just an automation tool. Can be very useful.
My friend made a bot for himself that reacts to sharp price surges. When the price surge ends, the bot takes short positions and profits from this movement.