The crypto industry has seen unprecedented growth over the last decade. Such a development has led to the entry of more and more products that originate from traditional sources such as the commodities industry. Crypto futures are one such product.
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Trading crypto futures calls for informed decisions regarding the market swings and trends. Trading crypto futures also requires the ability to determine the impact of current or near-future occurrences on the future prices of cryptocurrency.
However, speculations about the crypto futures are merely predictions. Human predictions are bound to have errors at times. Bitsgap, a crypto exchange platform, has recently launched an artificial intelligence bot for trading crypto futures. The bot, dubbed “Combo Bot” will aid both retail and institutional investors and traders in longing and shorting Ethereum futures and Bitcoin futures, amongst others.
The Combo Crypto Trading Bot by Bitsgap
The newly released crypto trading bot by Bitsgap will enable the automation of futures trades. Combo bot will employ GRID and DCA (Dollar-Cost Averaging) algorithms to carry out this automation. In doing so, the bot will aid traders in making more accurate speculations on Bitcoin futures and Ethereum futures.
The Combo bot will aid in executing both the longing and shorting trading strategies. When a crypto trader speculates a price rise in a given cryptocurrency, the bot is used to long it. The longing initiates the GRID algorithm to start selling orders above the current market prices. The GRID algorithm also locks in all the returns during the steady positive price movements. If the prices fall, the Combo bot initiates Dollar-Cost Averaging that in turn initiates buying.
Conversely, when a crypto investor speculates an impending price fall, the combo bot becomes handy in executing a shorting strategy. The GRID algorithm initiates a buy order function to maximize the lower prices of crypto during these instances.
Trading on the Bitsgap platform is possible even without a sufficient amount of investment. One way this is made possible is by leveraging margin trading on the platform. The Bitsgap platform offers loans to traders, who are required to pay back the loan after a particular period. The trader is only awarded the loan after depositing some amount of predetermined collateral.
Combo Bot Reliability
Bitsgap has built an unmatched reputation as an innovative crypto trading platform. The platform comprises a tech and crypto specialized member team that developed the combo bot. The intuitive AI bot has undergone testing and has a great potential to revolutionize crypto futures trading.
Also, the profit and loss chart displays the loss and profit registered by the trades initiated by the combo bot.
More About Bitsgap
Bitsgap is one of the most diverse trading platforms that supports up to 25 exchanges. Some of these exchanges include Coinbase, Bitfinex, FTX, OKEX, Binance, Gemini, etc. Bitsgap is a one-stop-shop for all matters crypto assets.
The platform provides trading services, crypto portfolio management, crypto trading bots, crypto signals, and demos. Crypto trading newbies can use the demos or simulations to sharpen their trading skills before beginning actual trading. The crypto signals and the bots go a long way to aid in better decision-making, even with the minimal market swings.