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    What are crypto bots and what are they for?

    Currently, the cryptocurrency trading market is going through a stage of active development and
    dynamic transformations. In this regard, there is a constant update and improvement of such
    automated trading assistants as crypto bots. Crypto bots are the result of complex mathematical
    research, clothed in the form of a well-defined algorithm for conducting transactions on crypto-
    exchanges, as well as on Forex.


    What is the basis of a crypto agent bot? In our previous post, we discussed in detail the types of
    cryptocurrencies
    available for different types of transactions. The prospects of this area of ​​trading
    dictate the demand for the demand for trading bots. Therefore, the base of the crypto bot trading is
    the principle of reading charts and other data, which makes it possible to open and close orders in
    automatic mode. It’d be totally correct to state that several decades ago such functionality might
    seem unattainable.


    However, today the market offers many software solutions from which a trader can choose exactly
    what suits him in accordance with his requests and needs. In addition, in the event that a person has
    some knowledge in the field of programming and writing skills, there is a possibility of creating his
    own crypto bot, although guarantees of its effectiveness cannot be provided here.


    Obviously, every trader is most interested in profitable trading, so the question of the reliability of
    the crypto bot is very acute. In our review, we will consider the advantages and disadvantages of
    crypto bots in general, and also tell you which software product is currently considered optimal for
    automated trading and trustworthy by numerous consumers.

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    btc crypto bot trading

    Advantages and disadvantages of crypto bots.

    Manual transactions are gradually becoming a relic of the past. They are labor intensive and are not
    always available in terms of practical development for an ordinary person, whose main activity may
    be very far from stock trading and being familiar with crypto bot strategies. Having to carefully
    check all the underlying data before deciding to conduct a transaction takes up a lot of time that
    could theoretically be devoted to more useful activities.


    Brokers, through whom transactions are made, often require that all processes be carried out
    exclusively manually. But are these problems insurmountable? What is the best thing to do for
    someone who is not initially prepared for manual trading, but wants to increase their income
    without a detailed study of all the subtleties and nuances of processing such transactions?

    Of course, the right choice would be to turn to the use of a crypto bot software, which will do all the
    analytical work for you. Such an opportunity in itself is a unique and significant advantage of bots
    over inconvenient manual trading. And besides that, there are other positive aspects here. Let’s
    draw your attention to them:

    Advantages

    • psychological component (a bot does not have emotions, unlike a person who easily violates his own trading plan, does not follow discipline and is influenced by impulsive behavior);
    • higher probability of successful execution of trades at the best entry prices;
    • rapid detection by the crypto bot of graphic patterns and directions in which quotes move, which simplifies the process of data analysis;
    • the ability to be physically free (there is no need to sit at the computer for days and personally control everything).

    While this mechanism appears to be flawless, in practice this is not the case. Most of these crypto bot algorithms still have drawbacks, and you can also find a lot of them. Any trader must objectively understand all the risks that the use of a crypto bot carries in order to avoid disappointment and losses in the future. So, we have before us the main disadvantages of crypto bots trading strategies:

    Disadvantages

    • downloading an unverified program from the Internet, where a poor-quality product may be offered in the public domain, is a very dangerous and adventurous activity;
    • if the program is developed by fraudsters, then the entire deposit may disappear from your account in a short time and a debt of unknown origin may arise;
    • there is also an option in which a small percentage of income will be withdrawn from the account for a long time, and you simply will not notice this due to the insignificance of the amount;
    • the crypto bot is capable of misinterpreting some events as signals to open an order (for example, short-term price fluctuations, minor shifts in the candlestick chart, and other factors);
    • the crypto bot may not stop in time and continue to make transactions at a loss to the trader, which is also fraught with a complete loss of the deposit.

    Naturally, in this ambiguous scenario, doubts will inevitably arise: is it worth using a program like a crypto bot at all? Are the strategies of the crypto bot justified, if sometimes it damages its owner’s account? Our company New Hope Inc. has prepared a comprehensive answer to these questions, and we hope that it will help you make the best choice when looking for the best crypto bot on Discord, Reddit or Github.

    New Cross-Exchange Trading Opportunities with New Hope CrypTOP 2.0

    We at New Hope Inc. are glad to present you our new products. Our best programmers have devoted months of hard development to fixing cryptocurrency API errors and working on a lot of checkouts. And here it is – the announcement of the long-awaited crypto bot software solutions that will allow you to start trading in crypto and get tangible profits from it, while maintaining the deposit and multiplying it.

    For 2019 – 2020, crypto exchanges have eliminated the most significant disadvantages, and now you can fully trade. In this regard, we are developing a new version of CrypTOP 2.0 to optimize the exchange of data between exchanges. Our product is unique and has no absolute analogues on the market, so choosing the best crypto bot, you will act wisely if you take a closer look at CrypTOP 2.0.

    CrypTOP 2.0 is a high frequency Bitcoin crypto arbitrage trading bot. The advisor receives quotes from the supplier (they automatically come from our servers) and opens deals if there is a large price discrepancy with the broker. Due to the fact that we know where the price will go, trading comes down to the correct setting of the EA and good trading conditions with the broker.

    The product consists of two parts: the EA itself for MT4, MT5 and the server for distributing quotes. The Quotes Distribution Server is a multi-threaded program that sends fast quotes to advisors. At the moment, crypto exchanges are entering a new stage of systematization. This means that large volume suppliers are the first to receive information about price changes, and only after that the price leveling on other brokers takes place.

    In the fourth generation of the EA, the cycle system was redesigned, which greatly reduced the load on the server, the functions of holding and controlling the transaction relatively fast quotes were added, the auto-correction of quotes during trading and other options were developed. In addition, we have implemented slippage protection and the withdrawal of deals with a plus, which is our competitive advantage.

    How CrypTOP 2.0 works is that the program compares quotes from 10 exchanges (you are given a wide choice of exchanges you need) and looks for the difference in prices with a specified price distance. If detected, the bot buys BTC on one exchange and sells on another, so, to say jokingly, it is possible to become a Bitcoin billionaire boy. Then, when the difference in price between the exchanges has decreased, the program closes the trades, returning the money to the original currencies at a profit.

    For work, the user just needs to enter the program settings, set the necessary parameters and add the API keys of the crypto-exchanges. Now you can close the site, the program itself will monitor all market situations and make deals. Whatever you do, the program will always actively trade, even if you are personally absent at the computer.

    New Hope Product Line for trading through the terminal and using different protocols.

    However, it is impossible to manage with only one crypto bot in this case. There is always a chance that a trader will need another kind of crypto bot to trade on different types of protocols and in different terminals. With the needs of our customers in mind, we at New Hope Inc. have developed several separate products. Each of them has a number of specific features that enable the trader to trade safely and profitably.

    By the current moment, we have added 10 crypto exchanges to the robot base: binance, OKex, huobi, BitTrex, HITBTC, KRAKEN, Poloniex, XBTCE, YoBit, LiveCoin. This is a significant progress since there were only 10-15 cryptocurrency brokers in 2017. But by 2019, everything had changed dynamically, and the cryptocurrency received massive turnover from brokers. In connection with these events, New Hope INSIDE was developed for trading cryptocurrencies for the Meta Trader 4 and Meta Trader 5 terminals.

    Subsequently, we began to connect crypto-exchanges and found that even they lag significantly behind our fast source of quotes. This is how we put together the New Hope INSIDE Crypto API. In addition to the fact that the main top crypto-exchanges are already connected here, you also have the opportunity to order the connection of the necessary exchange at your request.

    New Hope products for Crypto trading.

    Thus, today we have several products for cryptocurrencies:

    • New Hope CrypTOP  is a bot for inter-exchange trading;
    • New Hope MT4 crypto  is a bot for trading cryptocurrencies in the Meta Trader 4 terminal;
    • New Hope MT5 crypto is a bot for trading cryptocurrencies in the Meta Trader 5 terminal;
    • New Hope INSIDE MT4 crypto is a separate program for trading on Meta Trader 4 protocols;
    • New Hope INSIDE MT5 crypto is a separate program for trading on Meta Trader 5 protocols;
    • New Hope INSIDE API crypto is a program for trading via API protocols on crypto exchanges.

    If your top priority is finding a truly effective crypto bot software that can make you a successful cryptocurrency trader, we at New Hope Inc. are confident that our new product package will allow you to find the best option in accordance with your goals and will become your irreplaceable assistant.

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