To understand this issue, we will have to personally study the market. And here are some recommendations to understand if you can use the bot to trade cryptocurrency for free.
To begin with, you must understand that trading bots are a risky tool. They can generate income, but they can also generate losses. Therefore, do your own research before giving a trading bot access to manage your exchange account.
Of course, trading bots can be used for free and the first confirmation is free trial periods. They usually last from 3 days to a month. During this time, you can understand whether this platform suits you and pay for paid access.
The second example is trading bots that will take part of your profits from transactions. This option is more convenient, but the algorithm of their work differs from the typical scheme using the API.
The third option is free cryptocurrency trading bots on young platforms. They do not yet have a reputation, so access to the trading functionality is provided for free.
The cost of a cryptocurrency trading bot is influenced by several factors:
- Equipment rental or maintenance: Cryptocurrency trading bots are software that must be run on a server. Of course, these costs can also include the cost of electricity and constant access to the Internet. Equipment depreciation should also be included in the cost of trading bots. These costs directly relate to the technical part of the trading bot, even if you want to minimize these costs and put your trading bot on a home PC instead of a dedicated server or use a platform with free trading bots, this does not negate the fact that these costs are not included in the maintenance of these bots.
- Software Development and Updates: Since trading bots are a program of code – which requires specialists to write, the fact that this code needs to be updated over time cannot be overlooked. The market is very dynamic and if the working algorithm does not improve, then the bots may soon become irrelevant. You can independently learn how to program trading bots, but it is very time-consuming. In any case, for successful work, you need a specialist who will deal with the software part.
- Platform authority: large projects that have been working on the market for several years and have their own audience will not provide their services for free. At the same time, young projects will try to make the service cheaper or even promote themselves as free cryptocurrency trading bots. A good example of a pen is a Parker, a watch is a Rolex. It’s just pens and watches, but the brand is very authoritative, so there is a certain markup to the final product.
What are the best free cryptocurrency trading bots on the market?
The main indicator of the success of trading bots is primarily their profitability. Users pay attention to this in the first place. The second is the complexity of configuration and management. If you are required to take a minimum of action before you start working, then your participation is minimized. The whole process has already been implemented by the creator of the trading bot.
RoboFi – Best Free Trading Bots Marketplace
This is the simplest platform that provides access to free trading bots. To get started, you will need to create an account in the system or connect your Metamask wallet, after which you can immediately select a trading bot and start working.
To put your stablecoins into the pool of the trading bot, you must first wrap them in certificate tokens in RoboFi Treasury. The exchange ratio is fixed 1 to 1. This means that when withdrawing your deposit and the profit received, you will also receive certificate tokens and will be able to exchange them for the original asset in the BSC network.
Your participation in the life of the trading bot is minimized, all the settings are made by the creator of the bot, and you only invest your funds and receive daily income.
Profitability of free trading bots in the RoboFi Store is kept at the level of 20-30% APR, but you can take part in DAO voting and determine the further development vector of the trading bot to increase profitability.
RoboFi (https://robofi.io/home/) is a Defi platform that envisions a marketplace for revolutionary Dao crypto trading bots. Through its IBO (Initial Bot Offering) system, community members can maximize their earnings in an easy, simple, and secure way. We create a safe and transparent environment based on blockchain technologies that help developers bring crypto trading bot platforms to the market. In addition, individuals will have easy access to these bot applications, thereby generating more earning opportunities. The RoboFi ecosystem is fueled by the VICS token.
VICS token has a distinctive and enticing concept. VICS is the BEP-20 token, built on the Binance smart chain. It is a core utility token in the RoboFi ecosystem, the reliable crypto trading bot marketplace. One important utility is to own the governance token of DABots and participate in an IBO (Initial Bot Offering) to receive additional incentives. VICS is available on major exchanges for trading.
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