The Bitcoin bot is a software. It is based on sophisticated trading techniques set by very accurate algorithms that are used by professional traders. Most robots are designed by successful professionals who have made millions. They have automated their trading strategies in the program, which conducts trading on their behalf. The bots include the short selling technique. The most accurate bots rely on artificial intelligence, so their trading approach changes as per the market conditions. Natural Language Processing is a subset of AI so they can understand our language. This helps the robots to exchange news at 99.4% accuracy. But this does not make them risk-free. A slight miscalculation can bring huge losses as well. They are more successful than humans as they are 100% auto and do not need intervention. They do not possess extra emotions like greed or fear in trade.
How does a crypto robot work?
The robot carries out trade research on your behalf. After coming up with insights, it relays them to a select partner broker system. It then partners with them, and the brokers carry on the order given by the robot. Upon picking up the trading signals, the brokers execute the orders. The robots relying on a highly advanced system of trading take an instant to execute them. The partner broker receives the deposits and begins transactions. They, therefore, depend upon the brokers and look over the transactions.
The bots also work with regulators. The regulators need to divide up the clients’ funds, and they have to submit reports on their usage. This ensures no misuse. The user’s money remains safe as there are regulators as the FCA and ASIC involved.
How to Trade on Bitcoin Robots?
Mostly Bitcoin bots are 100% auto; hence the user does not need any trading experience. You just need to register for a free account and then click on the live button. The bots are license-free. Though some require a subscription, the ones that do not charge a license fee, make a small amount on the earning through these bots.
It’s a good idea to go for the free ones. The bots are only available in the countries with regulator broker availability.
Step By Step Help To Register
Step One – Register for a free account
Open the given homepage for the robot. Click on registration and start the process. The user is required to fill a formwith requirements as filling in your name, email address, and phone number. The legit robots keep user details strictly confidential. They comply with GDPR like data protection measures.
Step Two – Provide an ID verification
Since the bitcoin robots depend upon regulated brokers for trade and transaction executions, they need to provide users ID and residence details.
You would have to upload a clear photo of a government-issued id, and both sides have to be provided. For proof of residence, a utility bill or bank statement will do. The process may take up to 24 hours.
Some brokers may allow you to make a deposit and give the go signal to trade before the completion of the verification process. But none will allow to make any withdrawals before the process completion.
Step Three- Depositing the minimum capital for trading
Most bots require the minimum capital of $250. You can use your debit or credit card, Wire Transfer, Western Union, or even e-wallets like Neteller or Skrill. Some bots accept crypto-wallets deposits.
The legit bots do not charge fees for depositing. They also allow the user to opt-out at no cost.
Step Four- Demo training and live training
Most of the bots come with a practice account to familiarize you with the robot before you go trading. Note that a small wrong setting in auto-trading can bring you losses. So read the trading guide carefully, and practice before going live.
Live trading takes place at a button click. Some bots allow you to adjust or even define settings. The semi-auto allows you to decide the trading options you want to activate in your account. Avoid changing the risk setting. Most bots are present at 10% per trade.
With the auto Robots, you need not know much about trading as they carry out the functions for you. They read the crypto news and make decisions and then send out the signals to the brokers who then buy and sell for you. Therefore you are needed to register and provide your verification details. It is best to go for the license-free BTC bots as they earn through commissions, so the programming has to be successful for them to make money. So go ahead, get yours and start making money.