If you are interested in running an AI crypto trading bot on a centralized exchange, running a Bitmart bot is a good idea thanks to the company’s advanced technology and a diverse set of financial instruments available to all clients. While it is not supported by all automation vendors, you can find good options in the growing ATS industry.
Why should you automate trading on Bitmart?
This exchange is one of the most flexible in terms of product offerings. Retail traders flocking to this platform enjoy a rich selection of interesting financial instruments allowing them to build balanced portfolios and achieve consistent profits due to the ability to access a diverse set of digital assets, efficient investment strategies like staking or savings accounts, and use native automation tools that provide additional adaptability to users without much prior experience in financial markets.
Let’s have a look at some of the products that you can use on this platform:
- Copy Trading is one of the flagship offerings from the company. While you won’t be able to set up an advanced Bitmart trading bot without using third-party vendors, it is possible to build an autonomous portfolio using social features that are very advanced on this platform. With several hundred active managers, you will easily find someone who corresponds with your preferences and risk style.
- Passive income programs. Many investors are coming to the crypto market hoping to save their capital from fiat inflation. This CEX company offers a variety of ways to do so by offering delegated staking, yield accumulation on dual (crypto and fiat) accounts, and the ETH 2.0 program allowing users to automatically collect rewards for staking in various partnered pools. Note that many of these offerings have floating APYs and should be carefully examined by potential investors.
- Multiple markets. Alongside the core centralized exchange product, you will find Peer-to-Peer marketplaces for stablecoins, buying with third-party payment systems, and leveraged (minimum of 5%) trading. This variety is great for many users who want to expand their investment horizons and focus on multiple trading methodologies simultaneously which is more than doable if you employ a trading bot from a reliable provider.
- The exchange is invested in the technological aspect of the service by offering a powerful launchpad to users who want to mint NFTs or issue tokens. You can also partner with the platform if there is a good idea for the DeFi sector that you can develop. On the other side of the spectrum, the collection of continuously supported APIs allows developers and individual users to effortlessly connect to the digital infrastructure upon which the CEX platform is built and significantly improve all operations.
With an API connection, you can easily set up a functional Bitmart GRID bot or another automated trading system that can improve the outcome of any investment operations if you have a solid strategy.
Why should you use a Bitmart crypto bot?
Automation is an excellent tool for contemporary retail traders who want to expand their investment efforts and focus on building a well-performing portfolio. Robots that several key advantages over humans:
- Working around the clock. The 24/7 nature of the crypto market may seem like a huge advantage to some retail traders but humans simply cannot keep up with a schedule that does not leave any room for relaxation or rest. At the same time, the volatility here is much higher with prices moving 10% or more in a matter of hours.
- Emotionless trading. The psychological aspects of retail trading are often cited as some of the most critical points of failure in a strategy since humans simply cannot handle emotions well and make mistakes due to banal greed, fear, or agitation. Robots do not have this weakness and execute their instructions without hesitation.
- High-speed execution. Humans lose time on many tiny operations that are involved in the trading process. Setting up values, entry prices, delayed orders, and even clicking menu items can steal precious seconds from you during intense moments when swiftness is the most decisive factor. Since Bitmart bot strategies are based on direct API connections, robots do not have to deal with the UI and significantly increase operational speeds.
- Backtesting and optimization. If you are running something like a DCA trading system to simply accumulate resources and keep them for the long term, thinking about continuous improvement of your strategy can be harmful to a certain degree. On the other hand, many retail traders interested in building a strong portfolio have to iterate and backtest their strategies. For example, you can use WunderTrading’s backtesting features in conjunction with the Strategy Tester on TradingView to identify weak points of any analytical approach.
- Cost-effectiveness. During the last two decades, prices have been falling across the board in the automation industry thanks to many advancements in technology, development practices, competition, and the improvement and simplification of subscription models. Instead of buying an expensive piece of software outright, you can use a service that is regularly updated and improved while paying very small sums periodically.
How to use trading bots on Bitmart
The exchange has a functional REST API with fees approaching 0. It is a powerful instrument for users who can take advantage of it. While it is possible to run the software locally and connect to the REST API from your local network, you will need a stable connection, protection from power outages, and finely tuned hardware to make it work as efficiently as a SaaS platform like WunderTrading. What we are saying is that it is possible but takes a lot of effort and requires resources.
On the other hand, third-party vendors offering automation services can effortlessly connect to the exchange and allow their users to utilize the power of autonomous trading systems without the need to learn how to code or set up complicated software.
What is the best bot for Bitmart?
The contemporary landscape of the automation industry in the crypto sector is quite diverse and offers a rich selection of providers that have excellent product lines and can deliver a stellar user experience.
Here are some of the options that you should consider:
- GunBot is a flexible automation platform that provides you with all the necessary tools to build a powerful robot. You can use it to connect to several CEX platforms through CEX.io or to engage with dozens of DeFi protocols. The problem is that you have to run the software from a Linux, Windows, macOS, or ARM device and it takes some learning to become an efficient user. On the other hand, the ability to effortlessly switch from DeFi to CeFi can be a huge benefit.
- Cornix is an interesting platform with a diverse product lineup that includes ready-made solutions like GRID and DCA bots as well as custom robots that users can set up using their own signal sources. You can also use multiple portfolio tracking tools to ensure a good level of hands-on portfolio management. Trailing orders and full customization of settings give you the necessary flexibility to create any type of ATS without any hassles.
- WunderTrading is a good option for all retail traders thanks to the massive product catalog that includes staples like DCA and GRID bots alongside a variety of signal bots and other presets. The marketplace for copy trading has hundreds of traders from multiple centralized exchanges allowing you to pick managers that operate in the same environment as you are. Recently, the company made a strong push toward AI implementation and presented its AI-assisted offerings including enhanced statistical arbitrage, GRID, and other bots with expanded functionality thanks to the use of artificial intelligence.
The main takeaway
This exchange is a good destination for active retail traders interested in using various types of automation tools to improve profitability, achieve consistency, and protect themselves from various market risks. Whether you are interested in setting up a grid trading system that can make money passively or want to concentrate on building a custom ATS that can operate in all sorts of market situations, using a combination of a reliable CEX platform and an advanced automation vendor is a good idea.
We suggest testing several vendors and see which offers the best service and suitable user experience. Do not make rushed decisions and simply take time to check out all features before committing.