Platform Says It Helps Users to “Dive Into Automated Crypto Trading”
A cloud-based cryptocurrency trading platform says that its free trading bot allows users to take advantage of crypto market fluctuations.
A cloud-based cryptocurrency trading platform notes its free trading bot allows users to take advantage of crypto market fluctuations.
TradeSanta says that in today's marketplace, one can easily find many varied tips, ideas and suggestions on trading problems and situations. In cryptocurrency trading, however, it is the only one offering both free as well as paid tools that target people who do not have the time or the technical inclination to do manual trading that can supposedly work with different situations.
The platform works with Binance, Bittrex, Bitfinex and HitBTC, but may expand its supported exchanges in the future, and it gives traders advanced trading options and the ability to automatically enter and exit both long and short strategies. The company’s guides and TradeSanta Bot templates are promised to help users “dive into automated crypto trading smoothly.”
Features in the pipeline
According to the company, the entire platform was built to be simple to use. Once a trading bot is set up and ready to trade cryptocurrencies, it will open a deal either immediately or after a signal from technical indicators is received. Two-factor authentication is provided to ensure a safer account. Moreover, the platform works via API keys restricting the usage of funds by the bot on its own.
There can be cases in which the market price goes against traders’ initial strategies. The Extra Order feature is useful in this situation. In case the price goes in the opposite direction to traders’ expectations, the Santa trading bot places extra orders to buy (or sell) more coins at the current price, making it possible to get target profit with a smaller bounce back when the price starts to recover.
Along with Extra Order, a newly added feature called Smart Order enables traders to sell a particular amount at a certain price level within a period of time or as a percentage of the total trading volume or buy large amount of crypto without spiking or dropping the price.
Moreover, the Santa trading bot can use candlestick chart information from the previous trading day to decide if it is a good time to buy or sell a crypto pair. Volume Filter can be helpful in finding good trading conditions.
Growing at a fast pace
The arrival of blockchain technology and cryptocurrency in recent years has seen multiple entities applying the concept of trading bots to the ecosystem. Additionally, crypto markets are volatile, making them tricky to keep track of the movement in price and trends 24/7. This is where TradeSanta comes into the picture.
The trading bot gives user the ability to place up to 100 times more orders when compared with manual traders, the team says. It is active 24/7 and eliminates the emotional quotient from trading. It currently offers mobile apps for iOS and Android, making it easier to create and manage bots. A dashboard is available that allows traders to track the bot’s performance regularly.
TradeSanta notes it is gradually climbing in the ranks, gaining attention in the crypto community. With almost 5,000 trading active bots and over 821,000 deals completed, the team is confident about making significant growth in the near future.
Disclaimer. Cointelegraph does not endorse any content or product on this page. While we aim at providing you all important information that we could obtain, readers should do their own research before taking any actions related to the company and carry full responsibility for their decisions, nor this article can be considered as an investment advice.