Trading Bots: Are They a Force for Good?
Connor Blenkinsop's original article for cointelegraph.com reduced by 56%
Not all trading bots are used for nefarious means - and indeed, some are having a positive influence on the market by helping investors to make faster decisions while reducing the amount of time they have to spend monitoring the ups and downs of the crypto world hunched over a laptop. Cutting mistakesAccording to Cryptorg, a service that offers bots to automate digital currency trading on major cryptocurrency exchanges, the technology has the potential to reduce the mistakes made in the heat of the moment. Such erratic decisions would often not be made by these professionals in the cold light of day, and as such, trading bots enable users to meticulously set out their strategy to a predetermined algorithm - complete with orders on when to buy or sell coins.
Aside from the fact that bots have the potential to reduce mistakes, take the emotion out of trading and allow crypto traders to catch up on some much-needed sleep, Cryptorg says that there's another thing to consider: ease of use. Many trading bot platforms are only as good as the technology they have been built upon, and to this end, it is crucial to ensure that a company's systems are robust - eliminating pesky delays that could cost traders money or see them shut out of trading at crucial moments because of downtime and technical hiccups. Bots are also only as good as the strategies that they are told to execute, and oftentimes, it takes more than this to enjoy success when crypto trading.
With almost 7,000 active trading bots at the time of writing, Cryptorg says its goal is to furnish traders with as much information as possible to help them enjoy success while trading.
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CN [too long; didn’t read]
Summarised crypto news.