Home Blockchain Cryptocurrency trading bot lets beginners use the tools of the experts

Cryptocurrency trading bot lets beginners use the tools of the experts

A new feature launched today on the popular cryptocurrency trading platform Cryptohopper is allowing traders to buy and sell algorithmic trading strategies and implement them in the form of a cryptocurrency trading bot.

The feature is designed to allow beginners to cryptocurrency to trade with confidence, by leaving the heavy lifting to a bot built on the successes of proven traders.

Users buy strategies that have proven successful in cryptocurrency trading and are given the opportunity to try them out in what is known as Paper Trading – a mock trading environment where users can practice without laying out real money.

These strategies are essentially rules for when to buy and sell, which have been developed by seasoned traders and then expressed as an algorithm so they can be performed automatically.

Once they are happy with the strategies, they can implement them as a live cryptocurrency trading bot, which will use their money to buy and sell mainstream coins on the user’s chosen exchange, including Bitcoin and Ethereum, as well as niche cryptocurrencies such as Altcoin and Stablecoins.

Cryptocurrency trading bot increases investment access for beginners

The weak performance of a number of cryptocurrencies in 2018, most notably Bitcoin, saw many beginners get stung; however there is still considerable interest in investment.

Cryptohopper’s platform is designed to meet this need but allow newbies to invest more successfully.

“There is still serious demand from mainstream consumers who are getting into cryptocurrency trading but most do not know or have time to learn technical analysis,” said Ruud Feltkamp, CEO and co-founder of Cryptohopper.

“They just take a gamble or buy coins to HODL and ignore the trading game that professionals play.

“Cryptohopper fills this gap by allowing inexperienced users to register, buy a trading strategy from a professional trader and have their trading bot execute trades on their behalf, 24/7.”

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Must Read

Bitgo Plans to Launch Wrapped Bitcoin on the Tron Blockchain

Members of the crypto ecosystem will soon be able to leverage WBTC via the Tron (TRX) network. Just like the tokenized BTC created using Ethereum’s ERC20...

Ethereum’s Long Term Chart Is Extremely Simple To Read

The weekly Ethereum chart, as opposed to the daily chart, is simple and concise. There are 2 simple...

US Department of Transportation Says Blockchain Has Many Applications For Unmanned Aircraft Systems (Drones)

Blockchain technology could assist with adjusting and improving current technical challenges in the expanding business of commercial drone delivery, said the US...

Security tokens, blockchain settlement draw interest from institutions: MIT Bitcoin Expo panel

Amid growing competition between providers, institutions in the traditional finance space are looking at blockchain as another way to offer value to...

Networking 2.0 at Blockchain Life 2020

Make hundreds of connections at Blockchain Life 2020 The 5th Blockchain Life 2020 returns to Moscow on April 22-23 at the unique media...