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Introduction
Cryptocurrency has experienced exponential growth in popularity and market size in the past decade. Currently, it is the second-largest liquid market after the forex market. The key factors that have inspired its growth include safety, unanimity, and convenience.
Cryptocurrencies are built on the blockchain technology that makes it safe, secure, and fast. These features have attracted many people to explore and embrace the opportunity presented in this market, including the trading bots.
Trading bots solves the two major challenges facing the market: volatility and 24hr trading time. This market experiences a constant shifting in prices of the digital currencies. This may be challenging to the human trader.
Trading bots offers the ability to analyze the big data present in the market, trace the market developments and make an appropriate decision. Also, the bot can operate around the clock since they do not get exhausted.
About
Profit Trailer has a unique and intuitive user interface. It also has a live demo for new customers to familiarize themselves with the platform. The parent company to this project is located in Curacao. Profit Trailer is fully licensed by the law of the Curacao government. The background information about this project is hidden. However, they provide external links to its social media platforms such as Twitter, Facebook, and GitHub. Here is a list of what Profit Trader offers you:
- Trading bots offering a well-tested buy and sell strategy.
- Signals
- Discord Community/Support that connects the users with the support teams and with each other.
- Virtual Private Servers
- Addons – Extra services.
- The software is compatible with the main operating systems such as Windows, Linus, and Mac OS. It also supports the most common browsers such as Chrome, Firefox, Safar, and Edge.
Ease of use
Anyone who has any clue in technical analysis and who can read charts can use this bot. However, total beginners may find it difficult to use this platform. Nevertheless, they can watch the tutorial videos, read the materials in the Wiki, and contact the customer support for a guide.
After gaining the basic knowledge in crypto trading, the beginner can use several free backtested strategies to begin trading.
Safety
Here we will determine if the bot can make withdrawals or if they can be hacked. First, the bot has no permission or authority to make withdrawals The APIs of brokers (exchanges) do not allow withdrawals by default. Also, bot users should not make a setting that would permit the bots to make withdrawals.
The hack developers cannot go to the extent of making withdrawals from your account. What might happen is that the developers may hack your bot account and set trading algorithms. However, this is very unlikely because, at the end of the day, there is no gain to them.
Screenshots
ACB Admin
February 29, 2020 at 2:58 am However how good a trading bot can be, it cannot completely cover the basic weaknesses of a bad or an inexperienced trader.
As a beginner, you have to take some time to learn the market. Otherwise, you will most likely have a hard time getting profits since these bots do not do any magic. You need to take time and learn how to trade profitably.
You can use a Paper License plan if you are not comfortable paying for the trial period. The bot will help you if you lack some skills. It has the potential to help you gain more profit by managing your trade according to the algorithm you have incorporated.