Ethereum classic crypto trading bot - is an algorithm, which automates investors' activities on exchanges of any kind.
So what does an automated bot do? For instance, you are interested to buy and sell Ethereum classics for a certain price. You place an order, and when the price is required, the bot will close the deal. This is a very simple example - bots can do a lot more.
Partial Take Profit
Order size in % or fixed amount ($)
There is no wonder that investors are sometimes reluctant to trade Ethereum Classic. It costs around $21, and it is rated high by crypto screeners based on capitalisation. The trading volume decreased recently. But the collapse of many coins, including UST, DAI and many others did not really affect Ethereum Classic. It was about $ 5 in 2021 and now it is 4 times higher - that is a good result. Like many other coins it faces ups and downs - but this can bring profit to clever and lucky investors.
Ethereum Classic is an "old" generation of coins. Though Ethereum as a more "modernized' coin is more popular among traders, one can buy and sell Ethereum Classic on many exchanges like Binance, Bybit, Huobi and smaller ones.
So ETC is worth trading. But can an individual find time for daily monitoring the market? If he wants to be a professional trader and is mesmerized by diagrams and rates - maybe this person does not need a bot.
But crypto bot trading Ethereum Classic gives a lot of advantages:
It gives you time for acquiring theoretical knowledge. The crypto trade is at the beginning of its history, but one might find it useful to dive into the ocean of information and new knowledge.
It makes trade less heart-breaking. Imagine you expected ETC to go down - and it was getting up. This might be depressive to a beginner - but a bot does not exercise emotions.
It helps to work on a plan. People are ruled by feelings, and act on impulse - but the income comes to those who remain calm and trade according to a chosen strategy.
It makes fewer mistakes than humans do.
It reacts fast - and it is sometimes vital in situations of instability.
More experienced traders can find a bot helpful as far as it can help to speed up, use different strategies and thus receive an advantage. One can make more pairs and trade a bigger volume of assets.
We can speak about the advantages and disadvantages of bots: price, the necessity to know programming, nice interface and so on. But the only way to find out what suits you most is to try several variants. Bot providers usually demand subscription and monthly payments. There are free trial periods or even free simplified bots for beginners. This makes acquiring a bot the best way to start a trade.
One should pay attention to the following:
Security. There is no secret that the crypto world is very attractive to those who profit from fraud. They do their best to steal coins and the bot is given access to a trader's assets. So the bot should be developed by professionals, should have a history and be more or less secure. Reading other people's reports about their experiences is highly recommended when choosing a bot.
Profit. Bot costs money, and it should gain money from a user.
Ease of use. If you are not an IT specialist, the management of the bot should be easy. Otherwise, you may waste too much time.