Trading cryptocurrency introduces unique challenges especially for the professional traders as well as seasonal investors. Cryptocurrencies are a new kind of asset class, highly volatile and easily confusing for new investors and traders. So what do traders in the industry do to overcome the challenges? Automate their trading activities.
This is not a new trend but has already been effectively used in traditional markets to trade stocks, bonds and foreign exchange markets. This means that using software to trade as a technique is a tried and tested technique.
Trading cryptocurrencies is not any different from trading other asset classes. However, there is no better match for trading software than the crypto markets and here’s why. Unlike traditional asset markets, cryptocurrency markets offer 24 hour-trading 7 days a week. The markets are nonstop and this introduces a challenge since people need to sleep and take a rest every so often. No one can watch the markets all day and night and that is where automated trading systems come in handy.
Another characteristic of cryptocurrencies is that the markets are highly volatile. It is not unlike crypto markets to register daily gains or losses of 50-100% and sometimes these could happen concurrently within a 24 hour period. This kind of price action is attractive to seasoned traders who know how to trade choppy markets but extremely dangerous for new investors and traders. However, if a trader applies well-articulated trading strategies using software, they could make handsome returns taking advantage of the market swings.
The two characteristics make using trading software the best way to take advantage of crypto markets. Now, once you come to the conclusion of using trading software, you have to deal with the next challenge of choosing an effective trading software that will correctly apply your trading strategy to ensure that you make the most amount of money from your trading activities.
Below, we will discuss three of the best Bitcoin trading software in the market right now. They possess some of the same features with subtle distinctions but they all promise to net you gains every single day of trading. We will look at their strengths and weaknesses are trading software and hopefully, you will be able to pick out a winner that addresses your trading needs from one of them.
Bitcoin Profit Software
The beauty of automated systems is that they eliminate emotional trading out of the equation. As investors and traders, it is pretty easy to fall into emotional trading which means basing your trading decisions on your emotional state. Using a trading software like Bitcoin Profit Software automates the process and ensures that you stick to your goals and targets all the time.
The Bitcoin Profit software is designed for both experienced and inexperienced traders. However, it is expected that the more experienced traders will be able to make the most use out of the system. This is because the software is only as good as the user.
To use the system, you will need to feed your own strategies for the system to apply them to the market. It basically, helps you automate your trading, it will not do anything that it is not told to do so if you do not know how to trade the crypto market, you may want to learn first about trading before signing up for a Bitcoin Profit account.
Features and Benefits of Bitcoin profit Software
Just like the other trading software featured in this guide, the Bitcoin Profit Software is an online trading system with a web interface. There is not downloadable software to install on your desktop or mobile devices. For this reason, you will have to be logged in all the time to use the system and need to ensure security and privacy when using the interface.
To sign-up, you will need a fee of at least $250. This is investment money and it belongs to you. If you choose to withdraw the amount, you can do so. This is just the minimum amount to enable the system to make profitable trades for you. For higher gains, you will need to deposit more funds.
The best feature of any trading software is automation. Bitcoin Profit Software is off-course automated and offers its users the highest convenience of trading throughout the day. The software offers backtesting tools to test your trading strategies to ensure that they will make you the desired profits.
Bitcoin Trader Software
Bitcoin Trader Software is one of the most recent automated trading systems in the market. The software was created back in 2017 by Gary Roberts with the capability to automate trades for cryptocurrencies such as Bitcoin and Ethereum and three other popular cryptocurrencies. The software claims to be able to execute orders faster than other automated systems with a 0.01 second faster execution rate. In addition, it claims to be able to generate its users as much as $1,300 every day even with as little as $250 starting investment.
Features and Benefits of Bitcoin Trader Software
Since Bitcoin Trader is an automated system, it does a pretty good job of automating trading decisions. However, here are some of the features that the system offers its users that may differentiate it from other market competitors.
Demo Trading - this feature allows its newer users to play around with the web interface with dummy funds. This allows the users to get familiar with the interface with no fear of losing their funds. The platform also enables users to test out their trading strategies before executing them. After using the demo platform, investors and traders can then move on to use real funds on the live trading platform.
Web interface - just like the other two systems reviewed here, Bitcoin Trader also has a web interface. To use the system, you will need to log into the portal using your browser. The system is still not available for download at the moment.
Convenience - the Bitcoin Trader software provides huge advantages to other competitors. For instance, users can get their withdrawal requests processed within 24 hours with other competitors taking several days to do the same. The system also provides huge customizations and preferences to ensure that the user has enough tools to play with the increased chances of making maximum profits from their funds.
Immediate Edge Bot
Last but not least in our guide we are discussing the Immediate Edge Bot trading software. This is the most versatile bot in this list and for good reason - it offers the most convenience as opposed to the other bots. You can actually access your account from several media including mobile, desktop and web interfaces. The bot makes it easier to keep up with your trades on the move as well as be more active in your trading strategies. Cryptocurrency is a highly volatile market and having the extra convenience of keeping up with markets may provide much-needed input from the user to tweak and ensure maximum profits.
Features and Benefits of Using Immediate Edge Bot
The Immediate Edge Bot is truly a bot designed for the crypto trader. The two most sought after bot trading features are non-stop trading as well as the availability of different trading interfaces. Most of the exchange platforms that these bots have access to provide multi-interface platforms too so it does seem fitting to also use tools with multi-interface platforms to match up. The Immediate Edge Bot excels in this aspect over the other bots reviewed above. So what are the features bundled into the bot?
Support for several leading exchanges - the Immediate Edge Bot has access and support to trading on some of the major trading platforms such as Binance, Bittrex, Coinbase, Kraken, and Poloniex. This feature is especially beneficial because different exchanges offer varying liquidity for different assets. Having access to all these liquidity pools ensures that the tool does not miss the opportunity to trade in a particular market. This also means that you can engage in activities such as arbitrage trades with a whole lot of platforms to monitor.
Another benefit to using the Immediate Edge Bot is that the bot supports a wide range o cryptocurrency assets most of which are market leaders such as Bitcoin, Ethereum, Litecoin and Ripple’s XRP. These are some of the most popular assets and this means that most of the trading platforms support these.
Withdrawals and deposits are processed uber-fast. It is the trend for most trading software to process withdrawal requests over a period of days. However, with Immediate Edge, you can receive your funds after withdrawal request in under 24 hours. That is fast. In case of any delays, customer support is always available to address any issues fast giving you peace of mind to trade effectively.
To start using the Immediate Edge software, all you need is a credit card with at least $250 for your first deposit. The bot has minimal verification procedures and this means that you can get set up and going in minutes after downloading the software to your device.