Automated trading has existed in one form or another for decades now, ever since it first emerged as a concept over half a century ago. However, when the cryptocurrency industry started to emerge, it didn’t take long for trading bots to follow.
Of course, at first, trading robots were imperfect, but each new generation improved upon the existing concepts and technology until they became quite reliable and commonly used by traders around the world.
Of course, just because trading robots are now reliable, that doesn’t mean that there is no room for further improvement. Developers are constantly working on making the robots even more precise, even more user-friendly, and even better at securing profits for their users. The most recent example of this is a trading bot created by Sigmax.io, which launched only recently, in May of this year.
Why did Sigmax.io Create a New Trading Bot?
Sigmax.io decided to create a trading robot to accommodate a huge demand for automated trading software, which started to emerge alongside millions of newcomers to the crypto industry earlier this year. As many are likely aware, crypto prices have exploded in late 2020 and early 2021, launching Bitcoin up to $64,800, which is over three times the size of its previous ATH, from 2017.
People from around the world are entering the industry, even if the state of crypto is extremely uncertain in their region.
While this is good news for crypto, it is not necessarily good news for said traders. Most of them are entering crypto not because they are excited about trading or new technologies, but due to the hype surrounding the rising prices. This means that they are in a blind rush to earn, what is essentially free money.
However, as anyone who has any experience with cryptocurrencies can confirm, crypto trading is not easy. It is very complex, and users need to do days, or even weeks’ worth of research and self-education in order to know how to even start properly. Naturally, none of them do it, and instead, they just jump into the market, without knowing anything about it.
This, of course, leads to immediate losses, and traders get discouraged and skeptical, leaving the industry and claiming it’s a scam.
There is so much to learn about trading crypto, from which exchange to use, to which coins to trade, what strategies to employ, where to look for the best prices, what moves the price and in what way, and more. So, with users not having the patience to do it, or simply fearing of missing out on emerging opportunities, they could either get into the market themselves and lose all of their money, or they could employ a trading bot and have it earn the money for them, while they spend that time educating themselves.
What does Sigmax.io’s Bot have to Offer?
Sigmax.io’s bot is an advanced arbitrage tool for Bitcoin and altcoin trading. However, despite this, it is quite easy to use. The robot uses a simple algorithm to allow crypto traders to trade multiple crypto pairs simultaneously. On top of that, it is connected to over 22 major platforms around the world, which allows it to instantly look up and compare prices. Once it knows which platform offers the best price, trading is just a formality.
Of course, the robot uses the simplest and most effective trading strategy — it buys low and sells high to ensure profit. However, even this requires it to use complex analytical tools in order to make price predictions and know which coin is going to grow and which one will see a price drop.
The robot supports all the major and most popular currencies that see the most significant price changes, such as Bitcoin, Ethereum, Dogecoin, and many others. It also supports fiat currencies, which means that users can deposit their crypto or their fiat alike, and use it for further trading.
Another thing that makes it stand out is that it can also be used for trading fiat for fiat, meaning that users can engage in regular forex trading, too, which is not something that most robots can do.
As mentioned, the robot is also very user-friendly, and all that users need to do to get started is create a free account, make a deposit, and let the software do the rest.