Founded by Changpeng Zhao, Binance is the world’s leading cryptocurrency exchange that is popular with investors all over the world. It was first established in China, but the company moved its headquarters to the crypto-friendly Island of Malta in the EU in 2018. By that time, it was the largest cryptocurrency exchange with a market capitalization of $1.3 billion. Since this time, the exchange has led the industry in several areas, such as in trading volume, innovation, expansion, and the number of cryptocurrencies listed on its platforms.
Binance allows people to buy, sell, and trade thousands of cryptocurrencies on its platform. It offers basic and advanced options for cryptocurrency traders around the world. These options can be complicated, and, in most cases, they are best suited for those who have an understanding of digital currencies and understand how exchanges work. For professional traders, the advanced trading option offers more in-depth technical analysis of a crypto value over time, allowing investors to fine tune their trading strategies.
With large liquidity, numerous cryptocurrency trading pairs, and a wide array of trading tools, Binance remains one of the best exchanges to trade Bitcoin and numerous other cryptocurrencies.
Immediate Edge
Immediate Edge is a trading robot developed to leverage the power of AI and advanced algorithms to scan and identify potentially profitable trading opportunities in the financial markets. The advantage of the Immediate Edge bot is that it is compatible with virtually any device. The bot can be installed instantly on any computer or mobile device, making it easy and convenient to use.
A crucial advantage of the Immediate Edge software is that it quickly scans all the major exchanges to find price differences between the major cryptocurrencies. The bot leverages this difference and ensures profits for its users.
Thanks to the automated trading features and other functions of the Immediate Edge bot, traders are able to achieve a success level of 98.9%, which is better than any cryptocurrency trading expert generates. Some traders using the Immediate Edge bot get to earn at least $2,000 per day.
Gunbot
Gunbot can best be described as an emotionless crypto trading bot designed to trade various cryptocurrencies automatically for its users. This robot deploys various individual trading strategies, allowing users to customize the software to suit their trading style and risk appetite. The best thing about Gunbot is that it can be easily integrated into cryptocurrency exchanges such as Bittrex, Binance, Kraken, GDAX, and Bitmex.
This particular trading robot is designed to help newbie and experienced traders to effectively trade various cryptocurrencies. Even without prior trading experience or knowledge of the financial markets, using Gunbot will enhance your trading accuracy and success. Gunbot analyzes the financial markets quickly and instantly and then generates a profitable trading signal once a trading opportunity is pinpointed. Users get to enjoy 24/7 access to the cryptocurrency market, enjoying hourly profits with ease. Gunbot is easy to set up and to navigate and it and can be used by virtually anyone to trade cryptocurrencies and earn big profits.
Cryptohopper
This Binance trading bot has been gaining a lot of traction recently and for good reasons. Cryptohopper is a Binance trading software that allows people to trade numerous cryptocurrencies manually or automatically. This Binance trading software has become popular for the Strategy Designer feature it offers. The Strategy Designer makes it possible for people without a broad understanding of indicators and candlestick patterns to use the Binance trading software effectively and make money in the process.
Unlike some automated trading software systems, Cryptohopper is designed for professional traders. The software conducts trading analysis on your behalf and automatically executes the trade when the set requirements are met. In addition to Binance, Cryptohopper can be integrated into other trading exchanges such as Coinbase, KuCoin, and more. The Cryptohopper software is free for traders to use, but there are premium versions that come with extra features and functions for users.
Haasbot
Haasbot is another high-end automated trading software that allows the users to develop their own customized trade signals from scratch. This application has been around since 2014 and it integrates with cryptocurrency trading accounts on exchanges using API technology. The powerful trading bot is strong enough to execute even the most advanced trading algorithm in the trading space.
With the Haasbot software, traders get to enjoy an advanced scripting application, which has an easy to use drag-and-drop visual interface. This interface makes it possible for traders to intuitively design their trading algorithms. This application comes with built-in tools that handle all of the complicated programming on your behalf, which then allows you to focus on creating an effective trading strategy that is customized to meet your financial goals and risk tolerance. Haasbot also offers users the option to control the programming by themselves, allowing them to handle the creation of their trading strategy from scratch. Haasbot can be used via either a cloud-based web software app or an on-premises trade server option.
Zenbot
Zenbot is a powerful trading bot that serves as an online natural language processing service and chatbot host. Since it is open-source software, Zenbot makes it easy for the users to organize the code, modify, or update it to suit their personal trading requirements.
This leading trading software is an artificial intelligent (AI) Bitcoin trading algorithm designed to handle high-frequency trading. The ability to conduct extensive market analysis makes it possible for traders to leverage the software to earn massive profits every day. The algorithm of this trading software has been designed to operate high-frequency trading giving traders the chance to take advantage of many lucrative trading opportunities. Asides Binance, Zenbot can be easily integrated into a host of other cryptocurrency exchanges such as Gemini, Bitstamp, Bittrex, and more.
Thanks to the features of the Zenbot app, traders can easily deal with numerous cryptocurrencies and spend less time carrying out market analysis for the various crypto assets. As a result of this, this increases the efficiency of traders and allows them to earn more profits in the process.
Build Your Own Binance Trading Bot
The cryptocurrency trading bot sector is growing rapidly, and it is becoming easier for people to build their own bots. Binance trading bots have become popular, and it takes just a few steps to create your own unique software with your preferred trading strategies.
- Set up the API for Binance: The first step is to set up an API for Binance. The API is important because it allows the bot to send and receive data from Binance.
- Choose the programing language to use. It is best to go with a common programming language so you can get support if required. For example, you could use Python or JavaScript.
- Open an account with Binance
- Select a trading bot strategy. Decide whether your strategy will be arbitrage, market following, or the market making strategy.
- Define the type of data you wish for the trading robot to interpret, as it is crucial to the success of your trades.
- Create the Binance trading robot according to the procedure outlined by the developer
- Test the bot to see if it functions as it should.
- Once that is done, you can deploy your Binance trading software and start enjoying the numerous features you designed it to handle.
Pros of Building Your Binance Trading Bot
There are numerous perks to developing your own Binance trading bot. They include:
- Choosing the programing language that makes you comfortable
- You will get to decide the trading strategy for your bot. You can decide whether it should be arbitrage, market following, or the market making strategy.
- The decision to determine the data set the bot will work with solely depends on you. Hence, you will decide the data the Binance trading software follows and executes
- You can test it and determine if it works or not before deploying it. In this way, you save yourself money by not making deadly trading mistakes.
- The trading bot will save you time and energy as it will handle all your market analysis and other crucial trading activities.
- You will decide when the bot is ready to be deployed to the market. This gives you time to study things and determine market viability.
Cons of Building Your Binance Trading Bot
The disadvantages of building your Binance trading bot include:
- It takes time to build your own Binance trading bot. Programing the software to carry out your activities can be challenging and complicated, and not everyone can handle it. This means that it will take you an extended amount of time to develop and deploy your trading robot compared to when you use one already available on the market.
- You will own up to your mistakes. Any issue you encounter while building your trading robot will fall solely on you,
- It is tough to build a bot if you do not have basic coding knowledge. Hence, it is not suited for people that are not experts in this field.
Conclusion
Binance trading robots have become popular as they provide different benefits to traders. The functions of these bots are tailored towards easing the cryptocurrency trading process for traders and enhancing the efficiency of their trading activities. Once this is achieved, traders can deploy these bots to handle trading on their behalf and earn massive profits in the process.
The Binance trading software can be easy to build and there is a lot of information and assistance which can be found online. It takes a few steps to create your own Binance trading bot, and it can be deployed with ease once that is done. However, just like any important aspect of the cryptocurrency trading world, trading robots have their perks and disadvantages. The benefits outweigh the disadvantages though, and as a trader looking to make money from the market, you should consider using or even developing a Binance trading bot.