A cryptocurrency trading bot is a computer software or application that you authorize to purchase and sell cryptocurrencies based on pre-set parameters. The majority of crypto trading apps work in a simple way: you tell the bot to purchase or sell an asset if and when it hits a certain price point. Your bot will then place and execute your order, so you won’t have to keep an eye on your platform all day to watch when price changes occur.
You can program your cryptocurrency bot to execute orders based on your individual trading
strategy. For example, you could tell your bot to sell a large number of coins for $10 and then purchase them back if the price drops to $9. Depending on the provider you choose, the supported cryptocurrencies, exchanges, and account settings for your trading bot will vary.