The automated crypto trading process is executed by a trading bot, which is based on a specific set of mathematical and statistical rules. These rules are generally applied to fluctuations in price and volume of crypto pairs and are devised as per the technical analysis. Automated trading bots place the trade orders on behalf of the traders and enable them to execute more efficient trading without having to stay acquainted with the market trends at all times.
The algorithm of a trading bot examines the market to unearth the best trading opportunities according to the pre-defined or pre-programmed trading rules. All you have to do is choose the best site to buy and sell bitcoins having the ability to generate any orders for protective stop losses, trailing stops and profit targets as soon as the trade is entered.
There are ample benefits of having a trading bot to monitor the market actions such as orders, volume, price and time, and execute the trades. Some of them are listed below:
Ability to backtest : Backtesting implements pre-programmed rules to determine its profitability and risk. All these rules should be very-well defines, with no room for interpretation, while designing the best coin exchange for automated crypto trading. The traders can test these rules on historical market data before putting their money in live trading. Meticulous backtesting offers helpful statistics to evaluate and finetune a trading idea, and determine the system’s expectancy – the average amount a trader can expect to win or lose per unit of risk.
Improve order entry speed : Since trading bots respond quickly to changing market conditions, the automated system generates orders, including protective stop losses & profit targets as soon as the trading rules or criteria are met. Getting in and out of a trade a few seconds earlier can bring forth a huge difference in the trade’s outcome. The markets can change swiftly and it is dismaying to have a trade reach the profit target and then blow past a stop-loss level, and such concerns can be radically mitigated by automated trading.
Achieve consistency : Planning a trade and executing it accordingly is one of the biggest obstacles in trading. Even if your trading plan is amazing and has the potential to offer huge profits, overlooking the system’s rules can result in changing the system’s expectancy and lowering your profitability.
Preserve discipline : Due to the automatic execution of the trades as per the specified rules, discipline is preserved even in volatile markets. Discipline often dissipates when emotional factors such as fear of taking a loss, or the desire of obtaining a little more profit involved in a trade. The automated crypto trading system ensures the elimination of such emotions and maintenance of discipline to process the trade as per the plan. Besides, “Pilot Error” is mitigated. For example, an order to buy 100 coins will be more accurately entered than that of an order to sell 1,000 coins.
Diversify trading : Automated trading allows users to trade numerous accounts or various strategies at once. This has the potential to spread risk over a host of cryptocurrencies while creating a hedge against losing positions. The trading bot successfully executes the processes in milliseconds which can be very challenging for a human to accomplish. It can also scan trading opportunities across a variety of markets, generate orders and monitor trades with no point of error or failure.
In a nutshell
Automated crypto trading can yield ample merits when they are configured and backtested in a proper manner. But before embarking on a trade, it is crucial to plan a strategy and figure out how it will work in a bull, bear and sideways market in order to gain high profits.
Accountants are the financial backbone of any business, and the accounting world has always thrived as the money evolved throughout history. As the future of finance slowly makes a statement, cryptocurrencies like Bitcoin, Ethereum, Litecoin, Zcash and more (the major currencies which are currently involved in the best crypto coin exchange) are leading the path toward the mainstream acceptance of the digital currency. Today, almost every business is looking for the better ways to track, manage, and account of crypto coins maybe because of their rising interest and implementations, institutional investments into fintech or the supercharged growth that comes with them all.
Just imagine a future where digital currencies are vital to daily life and blockchain-based transactions take place between people, businesses, and maybe even governments. Imagine smarter cities around the world integrate digital currency in their economic system for paying bills, buying groceries, home appliance and even car, or giving loans. When attempting to foresee the future, we can already predict that the potential of cryptocurrency is beyond explanation.But to truly tap into the potential will requires innovation in the accounting and fintech industries.
The future of cryptocurrency is complex and constantly evolving, but with the invention of new technologies have opened new opportunities to develop a solution that solve the roadblocks comes in-front of industries.
Cryptocurrency Market continues on rising since 2017
Traders have shied away from the crypto due to the high volatility on 2017 and 2018’s cryptocoin market, but there are still millions of dollars being poured into space. In 2018, there were a number of startups that raised $3.9 billion successfully through venture capital funding and the number continues to go beyond $21 billion in the last year only.
These numbers have risen numerous ideas that solve industry challenges, such as consensus mechanisms or scaling performance that build trust. This also introduced some new ideas which are transparent and easily accessible such as decentralized finance, a lending system without any interruption of any third party, and an interoperable financial loan.
As fintech industries continue to develop rapidly, they also start to utilize their unique attributes to help each other. Blockchain could be used to track business transactions securely (when a fintech company served as a customer-facing platform for banking or institutions). So the possibilities are endless and blockchain technology gives the imagination a real shape.
The Future of Crypto Lies in Accounting
The day when the crypto beginning to live in the mainstream world, the biggest challenges that will face by most of the companies will be tracking and managing online coin trading. This is inherently complex due to the cryptographic nature of cryptocurrency making it secure and immutable. People and businesses are looking for smarter ways to manage and record their crypto assets and transactions.
Nowadays, there are hundreds and thousands of transactions processing per day. Therefore, businesses are looking for the simplest way to organize and manage their transactions quite like how people keep receipts for personal bookkeeping. People generally neglect traditional accounting practice and business cannot rely on spreadsheets or tools when it comes to accounting a high volume of daily transactions.
This is where automation, blockchain, and fintech come together to resolve this issue. Individuals, businesses, and maybe even the government will be looking for smarter solutions for tracking and managing transactions, handling taxes and facilitating accounting operations.
For businesses and anyone who owns cryptocurrencies, it is critical to be proactive with how you manage your assets for tax purposes. The best strategy to solve this is to map out one’s account, exchanges, and wallets in order to have a clear picture of your crypto profile. It is important to always stay up-to-date about the latest news, trends, and changes in the crypto world.
How Cryptocurrency Accounting is an easy way to resolve crypto challenges?
There are numerous crypto accounting firms available into the crypto market that easily resolve every accounting challenges, no matter how big they are. People are finding this an undaunted task, but implementing the right kind of technology can mitigate the steep learning curve and provide peace of mind.
We all are aware of the future of cryptocurrency, very soon it will become a universal means of transacting in some shape or form. Here, the crypto accounting places a crucial role, this provides the most opportune time for companies to build real-world solutions for these emerging industries solutions.
Digital asset exchange “ZedXe.com” is going to announce the most awaited plan to benefit existing and new token holders “ZFL Tokens Buy Back and Burn”. With the invention of this plan, Zedxe and its Investors aim to reward ZFL token holders.
The company aims at bringing a safer and efficient trading experience to the users. That’s why very soon we are going to execute this plan. Before moving further, we want to enlighten the meaning of buy back and burn for the investors or traders who are not aware of this term. Let’s take a dive:
Buying back of each token means the redemption of the tokens which were held by the previous token holders. Coin burn in cryptocurrencies means transferring some of the coins of native cryptocurrency to a public address from which those particular coins cannot be spent because the private keys of such an address are not obtainable.
It is imperative for public address to be available in the blockchain network to review all transactions. Coin burn is done for a number of purposes:
- Rewarding, the token or the coin holder.
- Destroying the unsold tokens/coins after an ICO.
How does ZedXe Exchange Buy Back & Burn Event work?
Minimum 100% Price Valuation of ZFL Tokens
Event Site: ZedXe Exchange (On Chain)
Trading Pair: BTC/ZFL
ZFL Price: $0.36 (Minimum)
ZFL Tokens: 2,000,000 (Minimum)
When: July 15, 2019
In order to take part in this Buy Back and Burn plan, the trader must pass the following eligibility criteria.
- Minimum Daily Volume of 0.1 BTC per User / Account in BTC / ZFL Pair
Note: Accumulated Volume of 60 days (0.1 BTC X 60 Days = 6 BTC) will be calculated for Top BTC / ZFL pair traders so all of the traders who join early or late will be beneficial, to trade total accumulated volume (i.e. 6 BTC) in 1 day or in 60 days.
- Multiple Trades (Buy / Sell Orders) will be accepted to calculate Daily or Accumulated Volume.
- No Maximum Cap of Trading Volume for Any Account (Maximum Volume at the end of the period, will provide a priority option to the traders to be on the Top of the Buy Back List)
- Accounts / Users will qualify as Top Beneficiaries of Buy Back & Burn, who fulfil the requirement of Daily Volume or Total Accumulated Volume, at the end of the period (i.e. July 14, 2019 at 2359 GMT).
- Total Accumulated Volume of each user, will be calculated on July 14, 2019 and List will be uploaded on the ZedXe Exchange website.
In case, the price per ZFL token, will reach at USD 0.36 or over, by or before July 14, 2019, ZedXe Exchange (Company) will buy back at 100% (USD 0.72 or more) of the final value, set at the specified time of July 14, 2019.
ZedXe Exchange will buy back & burn Minimum 2 Million ZFL Tokens supply (out of 180 Million Circulating Supply), and Maximum ZFL tokens, as per total accumulated volume, by July 14, 2019.
Note: In order to be transparent, an independent 3rd Party, strict auditing and diligence will be processed within this period to avoid any discrepancy. Any account/user found doing any manipulation within the same account(s) or any other suspicious activity will be blocked and will be eliminated, from the Buy Back List.
So, hurry up! Grab the opportunity to earn 2X-10X profit in BTC/ZFL pair. Refer your friends and crypto traders to earn rewards in ZedXe exchange.
Estonia (Incorporated and Regulated)
The safeguarding of cryptocurrencies by custodial services is the best way crypto investors can begin their journey in the cryptocoin market with the much-hyped digital assets. The last four months has witnessed significant growth in the number of businesses and banks launching custodial services. These solution gives investors peace of mind that their assets are secure, insured, and under the care of the third party.
Recently, ZedXe has introduced BitGo in its platform. BitGo is a highly-renowned leader in security, compliance and custodial solution for digital currencies. The BitGo business model has numerous robust features, comprising the following:
- Multi-signature wallets for enterprise investments.
- Platform API, which allows developers to integrate BitGo custodial services into their blockchain projects.
- Custody services for institutional investors.
- Tailor-made private blockchains for the financial world.
There are numerous crypto wallets are available in the marketplace and most of them are not fit for use by banks, companies, and institutions. In general, investprs or traders requires more than one authorizing party, specially when they execute big transactions. Most crypto wallets are designed to use by a single party. Multi-sign wallet is extremely beneficial for trading a huge amount of cryptocurrencies. As these wallets require more than one party to sign off on a cryptocurrency transaction.
Though custodian services are not unique, as multifarious crypto trading platforms are already using these services. Our main aim to integrate this service in our platform is to assuring our crypto investors that their digital assets are safe with us that too with local legislation.
BitGo also offers platform API so that developers can integrate multi-signature wallet functionality into their own Bitcoin applications. This means that if any new app or software taking Bitcoin as payment can take advantage of BitGo wallet functionality as a payment method. Apart from this, BitGo also offers some astounding features such as instant transactions which effectively act as a payment guarantor.
Customized Private Blockchains
Bitcoin and other public blockchains generally do not meet the legislative requirements for institutional investors. To overcome this hurdle, BitGo offers a service- customized private blockchains. Using this service, institutional investors can trade digital currencies.
Through BitGo’s partnership with ZedXe, clients can:
- Use ZedXe’s trading platform without having to set up an account with ZedXe.
- Get online, real-time pricing for buy and sell orders.
- Trade a variety of cryptocurrencies such as Bitcoin, Ethereum, True USD, Zuflo, Litecoin, Zcash and more.
- Maintain assets in custody with BitGo trust company.
- Execution of transactions is extremely easy from cold storage without having to manage keys.
- Access ZedXe’s deep liquidity through a robust network of trading partners with same day settlement directly through BitGo account.
ZedXe is taking a bold new approach to digital currency trading and this is the reason why most of the traders consider this platform a trusted and best crypto coin exchange. Keep your digital assets secure in our cold and hot wallet with advanced security features such as the multi-sig, co-signine engine, platform API and more.
As the popularity of cryptocurrencies has increased more and more, people are looking for ways to make huge returns on their investment. Most of these traders are using crypto trading bots to increase the value of their portfolios.
We all are aware of the volatile nature of the cryptocoin market and crypto trading bots is capturing the center stage among traders as it offers them to control their trading at all times, even when they are sleeping. Additionally, these automated trading bots expedite the trading process and make it more efficient than the trader would be able to do manually.
What is a trading bot?
Cryptocurrency trading bot is software programs that directly interact with exchanges, monitor price movements, place orders for a trader based on the market data they collect. Typically, this bot analyzes market actions such as orders, volume, price, and time and execute according to the pre-defined and pre-programmed rules.
For instance- traders can deploy a bot to buy and sell bitcoin and any other cryptocurrency. This bot can adhere to a ruleset programmed to buy lower from one market and sell higher in other markets, earning a profit on the difference. If you have ever done with the best crypto exchange, you have probably encountered bots doing this. The main objective of trading bot is to provide its users with a lucrative business day in, day out.
What makes trading bots popular in the cryptocoin market?
No dealing with emotions
Emotion plays a vital role while making trading decisions. With automated trading signals, users can define their goals, stop losses, and profit target beforehand. The trading bot will execute the trades once the set of rules are met enabling the traders to pull the trigger without any hesitation. Apart from this, the trading bot also allows users who are apt to trading cryptos at every perceived opportunity.
While regular stock markets are only open during the daytime, the cryptocurrency market is open 24/7. Resulting in you can trade continuously trading efficiently into your sleeping or working hours. It is important to note that while the bot can cause you to make money, it can also cause you to lose money depending on the strategy your employ.
Paradox of choice
There are quite a few crypto trading bots available in the market and finding the right one may take you some time. Trading bots such as Crypohopper, HaasBot, Gekko, are Profit Trailer are highly recommended for the neophytes or those who are searching for a reliable and easy-to-use trading bot. If you have never traded before on the crypto market, a trading bot could be your best option.
Trading can get sometimes boring as it only do some repetitive such as price checking and button pressing. A bot can do all that for you with just fewer clicks. You can give your bot some instruction before you sleep and find that a few good trades have been completed when you wake up.
Since the market changes all the time, your instructions to the bot should change frequently. This means you keep to constantly update and maintain your bot to make sure that it is making the right choice that you want.
These are some of the key benefits of cryptocurrency trading bots that bring forth vast opportunities for the crypto holders to improve their bottom line. If you also want to enhance your trading experience, join the crypto exchange which offers a trading bot to their users.