Investment marketplaces — particularly the volatile cryptocurrency market — move at lightning speed and operate around the clock. It’s not surprising that crypto traders would consider leveraging trading bots, which can monitor the market 24/7, analyze ever-inflowing and changing data and follow established instructions to automatically buy and sell crypto. Bots don’t need sleep and won’t make mistakes due to fatigue, impulse or emotion, and they can react in a fraction of a second.
Bots can be incredibly valuable tools for crypto traders, but along with their many advantages, they do have significant limitations as well. If traders rely too heavily or uncritically on bots, the results may not be what they were hoping for. Below, 10 members of Cointelegraph Innovation Circle share their advice for traders who are considering adding trading bots to their investment toolkits — their counsel can help both experienced and new traders leverage bots both wisely and well.