1. Repetitive Tasks
Repetitive tasks are tedious and time-consuming. Enabling crypto trading bots in the system will help you conduct specific tasks with ease. Bots can support your periodic rebalances in a better way through relevant data. You may need to rebalance the portfolio every week or so, if you fail to conduct rebalances in time. To perform this task, you have two options:
You can set the alarm and rebalance manually.
Design a trading bot for rebalancing the portfolio.
More sophisticated bots will allow you to set various indicators, so the trading bot will do the monitoring for you and once a certain criterias are met, the bot will execute a trade automatically.
Timing your tasks and activities enables you to perform the trading process accurately. Your potential earning depends on every trade you make. For instance, if the price of the Bitcoin is decreasing, you can sell the BTC before it hits the lowest and save a bunch of money. To do that, you need to observe the price chart carefully and wait patiently. Still, you cannot make decisions that fast. However, crypto trading bots will allow you to monitor the market in real-time and execute the trade accurately.
Crypto trading bots simplify the complex process of trading. For instance, you can facilitate smart order routing. This routing process will enable you to:
Trade through different trading pairs.
Determine each trading pair carefully according to the asset quantity, timing, and trading price.
Understanding the above tasks is quite simple. However, executing them manually will make the trading process quite difficult. Smart order routing is just a single example. There are numerous complexities that Crypto Trading Bots can simplify. You can use trading bots to automate various complicated strategies easily that you might think are impossible to perform manually.