The company behind a cryptocurrency trading bot is encouraging beginners and experts alike to give automation a try — and says users of all backgrounds can save time by using their technology.
Trade Santa says its “easy yet powerful” interface is an early Christmas gift for the crypto community, as it enables them to remain active in the market 24 hours a day, seven days a week.
According to the platform, “Hodlers” are among those who can benefit from its service. Trade Santa says its interface means they have the chance to make their assets work for them, all by configuring the bot’s parameters around their strategies and connecting it with their chosen exchange.
For day traders, the company says its technology allows them to save time when compared with entering orders manually. Using settings that include Take Profit Level, Order Volume and averaging options, Trade Santa says these users can set up a bot that is capable of placing buy and sell orders automatically — exactly as they would have done themselves.
Helpful for beginners
Trade Santa says the services offered by many exchanges can be exceptionally daunting and overly complicated for those who are beginning to trade cryptocurrency for the first time. Many users hesitate to start trading as they suppose it would be hard to learn the process. The company believes that its interface gives newcomers a chance to find their way around trading faster.
As well as providing detailed tutorials on how automation works, the platform offers bot templates for its users, enabling them to take inspiration and understand how trades can take place at any time through their account, even if they are away from their computer. A Telegram chat has also been set up, giving its community a forum for asking questions and sharing expertise.
At present, Trade Santa says that its trading bots are compatible with four exchanges: HitBTC, Bitfinex, Binance and Bittrex. Its interface offers a wizard that guides every user through the process of building a bot correctly — and 24/7 support is available if they have any hiccups along the way.
A growing community
According to Trade Santa’s website, 1,808 trading bots created by users are active so far — and in total, more than 103,800 deals had been completed successfully at the time of writing.
The company says it doesn’t charge any commission on the orders orchestrated through its bots, adding that its technology is being offered for free as its community grows. Right now, Trade Santa states that its main priority is getting feedback so it can “develop the most intelligent and user-friendly service for both beginners and pros” — and all users are going to get plenty of notice before paid plans are introduced.
Compatibility with three more exchanges is in the pipeline for the future, with Trade Santa hoping to offer automated trading strategies for crypto users who rely on BitMEX, Huobi and OKEX.
In its FAQs section, Trade Santa stresses that profits are not guaranteed and that it is important for all users to perform thorough research on their trading strategies before configuring the algorithms that will make them happen.
In a recent blog post, its team explained how algorithmic trading has a 40-year history in stock markets, enabling traders to take the emotion out of their deals. When it comes to the top tips for success, the article urges would-be users to choose a dependable bot, cap their risk, start small and play safe.
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