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1 year agoExchanges generate 2 keys that are needed by a bot in order to access your exchange account. Most major exchanges offer API services to their customers. API is short for "application programming interface." Think of it like a portal that allows an app (trading bot) to connect to the internet (exchange data). Basically, almost every time you place a trade you will be competing with trading bots to get your order filled. All it requires is an account at an exchange with API functionality and a little bit of knowledge of how to connect the bot to the exchange.

This has compelled some traders to adopt the "if you can’t beat ‘em, join ‘em" mentality, and taking up bot trading is easier to do now than ever before. With WunderTrading, you get an opportunity to manage your accounts at the following crypto trade bot exchanges: Binance, BitMEX, Bitpanda Pro, Bittrex, Bybit, Coinbase PRO, Deribit, FTX, FTX US, HitBTC, Huobi, KuCoin, Kraken, and OKX. They interface with the exchange’s API in order to get data from trading pair orderbooks, using this data to guide trading decisions automated by one or more algorithms.

5 months agoThey control certain parts of your account in order to make trades. Trading bots are programs or scripts that connect to your exchange from a server. All the same, watch out for scams. Sometimes these bots perform more transactions than necessary, or they miss good trades you might have caught on your own. There are many trading bots that guarantee fast and easy money to newcomers, but many free trading programs don’t show the desired result because of developer errors. You can create your own signals or use a third party’s signals.

And just like bots themselves, some signals are more consistently accurate, while others are more error-prone. Trading bots can be programmed to automatically respond in specific ways to these signals. This is also done through bot trading and can be emulated by cryptocurrency exchange trading bots as well. Orders are placed accurately each time, eliminating the possibility of "fat fingering" incorrect and potentially costly orders. You may have heard about high-frequency trading as it applies to the stock market.

For one, they allow trades to be executed with lightning speeds. There are a few reasons why trading bots can be superior to placing manual trades when used correctly. It is trading bots that perform the vast majority of all trades and that process the most trading volume. They can run 24/7 with minimal human supervision and kucoin scour multiple exchanges simultaneously looking for the best deals or trades. The idea of cryptocurrency exchange trading bots is not new and dates back all the way to the days of MtGOX, which was famously manipulated by a pair of trading bots to cause the price of BTC to rise to $1,000 for crypto bot the first time in its existence.

Traders may sometimes also forget to open or close a trade, or may not be able to make the calculations necessary in time to determine if a trade is profitable.

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