If you want to run a LAToken trading bot, it is a good idea due to the versatility and flexibility of the marketplace. As of 2024, retail traders can access over 240 different digital assets and over 450 pairs with daily trading volumes regularly exceeding $300 million. You can use a trading bot to significantly improve profits thanks to the exchange’s deep liquidity and diverse spot market allowing investors to deploy various strategies.
Optimize trading on LAToken with bots
First and foremost, users interested in using automation should learn more about the platform and its functionality as well as several reasons why over 1.5 million registered users from the UK, China, and Australia choose this particular brand over many others. Below are some of the advantages that make this CEX a great choice:
- Industry-wide recognition. The firm began its journey through the world of crypto in 2013 but quickly expanded to a massive international hub for crypto enthusiasts. In 2017, the company launched its LA token listed on 10 different CEXes and highly popular on HiBit. By 2019, it was one of the biggest platforms by volume.
- Exceptional geographical coverage. The service is available in almost all countries except the USA, Bosnia and Herzegovina, and DPRK. The vast majority of users are, reportedly, from the UK, China, Australia, and Switzerland. With over 1.5 million users globally, the platform is among the most popular in the industry.
- Diverse spot market. Users can buy and sell over 250 different digital assets using a variety of fiat channels. At the same time, you can trade on the spot market that has over 450 different pairs allowing investors to create sophisticated strategies and run complex systems like statistical arbitrage or market-making.
- Passive income opportunities. Customers of the CEX can invest digital assets and fiat into staking programs with APYs ranging from 30% to 120% depending on the asset. New tokens launching on the spot market are always accompanied by giveaways and unique promotions allowing early adopters to earn extra profits.
In terms of automated trading on LAToken, it is possible to use custom ATS setups and connect them to the exchange through the public API gateway. However, the CEX is not supported by advanced automation vendors such as WunderTrading or CryptoHopper. If you want to use cutting-edge systems like an AI trading bot or fully autonomous statistical arbitrage, it is a good idea to look elsewhere.
How to set up a trading bot on LAToken
This particular exchange does not have any native automation features like copy trading or a smart terminal. However, you can still deploy bots although it will take some time, effort, and dedication on your part.
Here are two main ways to use robots on this CEX:
- Specialized software. Technically savvy individuals can go to GitHub and search for configurable bots that can be used with any exchange that has a functional API gateway. In many cases, users will need dedicated hardware, a strong internet connection, and the necessary expertise to make this setup work.
- Automation vendors. Companies like CryptoHopper, WunderTrading, GunBot, and many others offer a wide range of different ATS variations. The issue here is that many of these platforms do not support LAToken directly. However, some providers like GunBot provide the opportunity to use software locally and connect to the API on an individual basis.
In the vast majority of cases, the second option is superior. Over 65% of all retail traders are using bots for all sorts of investment activities. Close to 99% of all institutions prefer automating trades. Experienced investors simply do not want to install and maintain custom software when hundreds of companies offer excellent service and ready-made solutions.
Hummingbot LAToken setup
One of the best choices for users interested in the first option is Hummingbot, an open-source crypto automation framework that allows users to download a customizable client and build unique systems. The client comes with some configurations preinstalled. For instance, you can immediately connect to Binance, OKX, Gate.io, KuCin, and many other exchanges that support the project financially.
Here are the advantages of using this particular product:
- It has a vast library of strategies. Creating a unique system won’t take much time as the client can download a variety of ready-made templates for arbitrage, market-making, and many other fully autonomous setups.
- The dashboard has many interesting features including a full-fledged back-testing system allowing you to identify potential weaknesses of a strategy by running it using several sets of historical data. It takes some time to sort out the quirks of this feature but it works well.
- Hummingbot can connect to multiple exchanges including some DEXes. The manual is quite descriptive and gives you the necessary information on how to connect the client to any API gateway. It is relatively easy to create a LAToken bot configuration using technical documentation.
It seems that Hummingbot is one of the most reliable and convenient ways to use automation on this particular platform. The issue is the limited functionality of this robot. Additionally, the onboarding process can be challenging as some technical know-how is required to successfully run an ATS powered by open-source software.
The best LAToken trading bots in 2024
Contemporary investors have access to a rich selection of effective strategies. However, some of them work better than others on specific exchanges. This platform offers deep liquidity, a wide range of trading pairs, and passive income strategies. Given these particular advantages, a retail trader can use the following approaches quite efficiently:
- Market-making. HFT systems can be incredibly profitable if you have sufficient funds to run them. Thanks to the excellent liquidity and diversity of the spot market, investors can engage in market-making for a wide range of pairs and switch between them depending on market conditions and user activity.
- Delta-neutral strategies. Since the CEX allows users to short-sell assets, you can hedge long or staking positions to create delta-neutral setups to increase safety. Many conservative approaches utilize hedging to reduce exposure.
- Popular ATS presets. A great example of a system that can work well on this platform is grid trading robots that use the DCA logic to choose entry points but create separate exit orders for each position creating a visible “grid” on the price chart. These bots are offered by almost all popular automation vendors.
Note that some of these strategies require some tinkering if you are planning to use something like HummingBot or GitHub to run clients locally. In the vast majority of scenarios, it is a better idea to switch to another CEX supported by SaaS automation providers that offer easier onboarding and more convenient functionality.
Crypto trading bots for LAToken and other CEXes
If you take a look at the landscape of the automation industry adjacent to the crypto market, you will immediately notice how oversaturated it is with offers. Hundreds of companies, big and small, are offering their robots to a large audience of crypto traders. Finding a good vendor in the ocean of options can be challenging even for seasoned veterans. We want to suggest several great platforms that offer excellent products, reliable customer support, and memorable user experience.
- GunBot is a great example of a project that allows users to engage with both the centralized and decentralized sectors of the crypto industry. This robot has many presets and can be connected to a variety of CEXes and DEXes. The most unique feature here is the custom large-language model that can write a functional script based on the input from users. You can explain how your robots must work and the system will provide you with a script.
- 3Commas can be a great destination for newcomers interested in social trading. The marketplace is a good place to search for custom strategies, addons, and signals offered by power users and highly specialized providers. Copy trading is another reason to focus on this particular platform as it has one of the best products in this category. Otherwise, 3Commas is not the most versatile of vendors and can seem limited to experts or users who want something more from their robots.
- Cryptohopper has been around for seven years. It is a flexible provider that has a massive arsenal of ready-made solutions. Recently, the company ventured into the world of artificial intelligence with its autonomous grid bot that can adjust settings based on market circumstances. You can also create custom setups. All in all, a good choice for newcomers and experts. The only gripe some users may have with it is the lack of advanced social trading features.
- Cornix is a set-up-and-forget SaaS platform that has thousands of different strategies that can be deployed in an instant. The company caters primarily to newcomers and does not have in-depth customization options that are offered by the vast majority of vendors in this sector. Using only presets can be limiting but many beginners without any prior exposure to the world of financial markets will appreciate the easy onboarding and simplistic UI.
- WunderTrading is the best choice for users seeking balance and versatility. This platform is famous for its advanced customization options allowing users to build unique ATS. At the same time, the copy trading marketplace is incredibly diverse featuring hundreds of trusted managers from multiple CEXes. Templates like DCA crypto robots are also quite popular. You can use them to slowly accumulate assets or trade along trends. The recent rollout of the AI-assisted statistical arbitrage system has been a moderate success allowing investors to create complex portfolios without overpaying.
The main takeaway
LAToken is one of the oldest exchanges in the crypto industry with a rich history spanning 11 productive years. A variety of digital assets and passive income options alongside a plethora of other interesting features make it a great choice for newcomers and experienced veterans. The lack of native automation features can be a significant disadvantage given the prevalence of robots in the crypto market. However, you can always use GitHub to look for applications that work with this particular platform.