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Trading bots, the automated trading software that traders can use to overcome the issue of performing transactions on behalf of the crypto trader. Bots work depending upon the trader’s strategy. As such, Hummingbot is one of the software that is seen as an effective solution to perform a Market Making strategy.
Hummingbot is an open-source software client that helps traders build and run high-frequency Market Making bots. It is available for anyone to use on multiple cryptocurrency exchanges. Hummingbot can turn a simple trader into an advanced Market Making trader.
Installing Hummingbot and running a market making bot takes approximately 10 minutes, but you must have some knowledge about using command lines.
The safety and security of users and their assets is the name of the game in the crypto market. As such, Hummingbot uses the CISCO security system to manage its security issues
Hummingbot uses local software client architecture. Hummingbot users have full control over what data they send externally, and Hummingbot never has access to any user’s private keys and API keys.
Since Hummingbot’s codebase is publicly auditable, it is easy for one to verify the absence of malicious code to steal their funds or put users at risk.