Best crypto tokens for algo trading in 2022

Blockchain, News, Opinion | August 19, 2022 By:

Algo trading might be a confusing process for the majority of novice traders due to its complexity, but keep in mind that with proper knowledge and experience you will be able to familiarize yourself with this concept. It is one of the most important aspects of crypto trading, and therefore, we witness a huge number of customers trying to get their hands on it. This process has its own advantages and drawbacks, so you need to learn every crucial attribute in order to get the maximum profits here.

What is Algo trading and how can you benefit from it? In the simplest words, algo trading stands for algorithmic trading that includes predefined instructions established by a computer program, and they help you to easily perform trading procedures. Generally, these instructions are price, time, and volume which are essential for trading. The main point of this process is to eliminate human feelings and emotions that might interfere pretty badly in trading and result in significant damage.

Due to this reason, the majority of traders choose to utilize trading bots and entrust their fate to computer programs. The whole process is speeded up drastically and you will have the possibility to generate profits relatively faster when it comes to trading robots. The immense advantage of algo trading is represented in the 2022 statistic since it showcases that more than 90% of trades have been made by trading bots. Hence, it should come as no surprise that more and more people want to find out which crypto tokens are best for algo trading, and we are here to provide information on this very subject!

But first, we want to point out that you need to look for reliable trading platforms that will provide this opportunity for you. According to statistics, the majority of users have visited a brand-new trading platform called Bit Index AI and we have to say that the feedback was generally positive. It offers services to all kinds of traders, whether they are beginners or experts, and promises to furnish them with consistent profits!

The Most Profitable Crypto Trading Bots

We would like to start our list with Pionex which is one of the first exchanges in the world and includes more than 10 trading bots. The most exciting attribute of Pionex is that it allows you to trade 24/7 and there is no need to constantly check the market. Also, it includes one of the lowest trading fees compared to the other major exchanges as it is 0.05% for makers and takers. Grid Trading Bot allows users to sell high and buy low in a certain price range, and most importantly, the Spot-Futures Arbitrage bot helps you earn 15-50% APR with low risk.

Cryptohopper is our next choice since it is a perfect resource to manage every crypto exchange account in one place and establish your own technical analysis. It is an absolutely free bot that requires no credit card information in order to set up your account and offers services 24/7 with its own cloud storage. You can easily navigate here and implement different strategies due to its user-friendly interface, and most importantly, cryptohopper includes sophisticated protocols in order to protect your account! 

Bitsgap is also a pretty attractive crypto token for algo trading that has the ability to explore approximately 10.000 crypto pairs and identify which coin will have the maximum potential in the future. The best part is that it is available 24/7 on more than 25 brokerage firms and can be opened without downloading! However, given its high-quality services, this token can be accessed by paying 29$ which might seem a bit high for some people, but it is absolutely worth paying for Bitsgap! 

Future of Algo Trading

As we have noted above, the statistic has displayed enormous numbers since nearly 90% of trades were made by trading robots in 2022. As you can tell, the popularity of algo trading is increasing rapidly and the major question concerning investors is whether they will fully substitute humans in the future. It is hard to directly answer this question since trading bots are still in the developing stage and they have not showcased their full capabilities yet. While we have experienced highly positive results so far, some people think that human emotions and feelings are necessary for crypto trading. 

For instance, a well-known practice in trading is to rely on your instincts sometimes when it’s difficult to predict what will happen in the market. By doing so, you might get rewarded enormously since our intuition is 100% right every so often. But when it comes to algo trading, this resource is completely ruled out, which is considered a downside for several traders. What’s more, trading robots might not be suitable for those people who prefer to trade long-term since they can only open and close trades within a day or two. In conclusion, we can say that despite being so popular, the future of algo trading is not entirely clear and it has yet to prove its full potential!