Success Strategies On Trading Using Crypto Bots
Most people are not aware if there is another way to win in cryptocurrencies apart from how it was done a decade ago. The only route they know of trading in cryptocurrency is by buying bulky and expensive rigs or paying for the service from people that have the rigs. These days you can mine cryptocurrencies using bots.
Unlike human beings that get tired and need to sleep, bots on the other hand can work 24 hours a day seven days a week. Bots cannot make mistakes attributed to human error since they follow the written commands. You need to do your due diligence as you look for a bot because you can easily be scammed or sold poor quality bots.
Make sure you ask from online forums about verified bot companies that will give you what you want. After getting some names the next thing is to read up on the company and see if there are any negative reviews about the said company. Choose a company that has lots of positive reviews from online forums.
Choosing a good crypto bot trading company is just the first step. The first thing you need to do is find out the kind of bot you want. You can choose a crypto trading bot that has been fully pre-built (with everything including the trading strategy) or you can opt to choose one that has been partially built and add the trading strategy.
As you write the API keys follow the guidelines provided by the exchange. API keys fail due to many reasons such as: not following the exchange guidelines, a browser issue or just faulty API keys. These issues can be solved by either changing the browser or creating new API keys.
Your API keys need to be a closely guarded secret. If possible keep them offline to minimize the chances of being hacked the better. If someone gets hold of your APIs they can trade on your behalf or even withdraw funds depending on whether you have given your bot access to withdraw funds.
You should never give your bot permission to withdraw funds. By not giving your bots permission to withdraw funds you limit the power of any hacker to be able to only do bad trades. In very few instances (like when doing arbitrage) is when you can allow the bot to transfer funds.
Set up a two factor authentication method and robust passwords on everything. If you have installed two-step verification systems plus you have strong passwords then hacking you is not easy. You can also use different emails on different platforms. As you look for a good crypto trading bot these tips will come in quite handy in your search process.