What is a Crypto Bot?
A cryptocurrency trading bot is a computer software or application that you authorize to purchase and sell cryptocurrencies based on pre-set parameters. The majority of crypto trading apps work in a simple way: you tell the bot to purchase or sell an asset if and when it hits a certain price point. Your bot will then place and execute your order, so you won’t have to keep an eye on your platform all day to watch when price changes occur.
You can program your cryptocurrency bot to execute orders based on your individual trading strategy. For example, you could tell your bot to sell a large number of coins for $10 and then purchase them back if the price drops to $9. Depending on the provider you choose, the supported cryptocurrencies, exchanges, and account settings for your trading bot will vary.
Are crypto bots legal?
In both bitcoin and the stock market, bot trading is completely legal (although only certain brokers allow it). That being considered, anything that is illegal in regular circumstances is also illegal in crypto trading.
Napoleon AM, a French regulated Asset management company, is part of a regulated group by the AMF in France (similar to the SEC in the United States). Although Napbots is not regulated, it is Napoleon AM’s sister firm.
Do trading bots really work?
Yes, they are effective, and many traders adopt them nowadays. They might even turn out to be advantageous if you know how to use them effectively in your favor. They are capable of trading 24 hours a day and employ a great deal of technical analysis. They can be used as a trading tool.
How much does a trading bot cost?
We have different price plans in our price list, please check them out on Napbots pricing.
Can you make money with trading bots?
Trading bots can be beneficial if you know how to set them up properly so that they can take advantage of trading chances and generate significant returns. While there are numerous crypto trading bots available, not all of them are reliable or efficient.