Everyone should at least have some knowledge about cryptocurrencies, commonly referred to as “cryptos” or “coins”, even if it is somewhat limited.
Cryptocurrencies are taking the world by storm, and it is time that you get involved and begin trading, making sure to stay informed and fully safe while doing so. Trading in cryptocurrency can be just as fun and exhilarating as it is dangerous and unstable.
However, if you have a team of professionals at your side, such as the experts at 3commas.io, you can rest assured that your money is in safe hands. Continue reading if you would like to learn how best to use automated trading to maximize your profits, as well as minimizing your losses.
How Does Cryptocurrency Trading Work?
Have you ever looked on the news and heard of cryptocurrencies? Perhaps Bitcoin, and probably Ethereum and even Litecoin, too. These are all online currencies that are used by investors and online purchases as a substitution for real money, such as a Japanese Yen or an American Dollar. In order to get involved in Bitcoin, one must first purchase some, typically via their conventional bank account, such as one attached to a credit card, although a savings account normally works as well.
A word of warning before you begin buying cryptocurrencies. The conversion rate of many of them, particularly Bitcoin, fluctuates massively. One day you could have made hundreds of dollars, and then the next you lose all of that and more. Of course, these losses can be averted by using crypto trading bots and their uses and functions will be discussed later in this article.
What Is Automated Trading?
Automated trading is employing software and/or a program that adheres to a script to help you make more money when away. For example, in the stock market, there is a well-known tool commonly referred to as ‘stop-gap loss’ or ‘stop-gap trading’, where you set your computer to sell a predetermined quantity of your stock(s) when they reach certain price points and to buy them at other price heights.
The same can be done through certain tools, such as 3commas.io’s bots, which are able to creatively sell and buy your preferred cryptocurrencies at the prices you desire. This can mean one thing, and one thing only. When you work with 3commas.io and utilize their professional-grade tools, you are almost guaranteed to earn more and lose less.
Additionally, say you are asleep, and the coins you own take a dive. Terrible to even think of, really. You will have just woken up to the knowledge that you had just lost a ton of money. Imagine if you had set stop-gap trading up, and you had sold well before the cryptocurrencies hit rock bottom. Now, you’re protected and your money has returned to its currency form, safe for you to wait it out and invest whenever you have the urge.
How Do I Get Ahold of a Trading Program?
First of all, ensure that you are never just downloading something from the Internet that looks good. After all, looks can be tragically deceiving. Instead, make sure to do your own research and be completely confident in the decision you are about to make.
Many of these can actually be scams, and according to Forbes, hackers have stolen over 4 billion dollars worth of cryptocurrency in 2019. Downloading just any software can end up with your balance being stolen, or some of your personal information being robbed from you. Not all websites are as secure and legitimate as they may seem, and thus due diligence is always advisable.
There are also many websites out there that offer to help you double your crypto, speed up your transaction times, and other things. These actors are not as they so proudly portray themselves. Avoiding illegitimacy at all costs is crucial if you wish to keep your bitcoin safe.
Therefore, if you are looking to purchase an actual software that is completely anonymous, keeps your confidential information under lock and key, and is proven to work marvelously, then be sure to sign up with 3commas.io, as we can supply anything and everything your heart desires…around cryptos, of course!
Begin Exchanging Cryptocurrencies Using Automated Programs
If you have carefully weighed the pros and cons of buying, selling, and trading cryptos, then be sure to only work with the best. With different plans for types of investors, 3commas.io is certain to have something that fits you and your investing goals perfectly.
As a reputable and well-known brand in the bitcoin exchange market, we are an established company with many satisfied clients over multiple years of operations. So, what could you possibly be waiting for? Head on over and sign up on our website to get started on your cryptocurrency investing journey today. We will see you there!