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Meet David Fenton, the driving force behind TechSpotty. As the founder and chief content architect, David dives into the world of technology, business, gaming, guides, and problem-solving solutions with unwavering passion and expertise. Additionally, he loves to listen to music every time no matter if he’s working or traveling.
TechSpotty isn’t just a platform; it’s a curated space where David translates complex tech trends into engaging narratives. Whether you seek the latest in gadgets, business insights, immersive gaming experiences, or practical solutions, TechSpotty is your go-to compass.

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Choosing the Right Automated Trading Platform for Your Crypto Journey 

No two traders are the same. Whatever you’re trying to achieve in crypto will likely differ from that of the next aspiring trader. Everyone wants to turn a profit, but each individual has a different route and timeframe for achieving that goal. Thus, when it comes to automated trading, there’s no single solution that’s right for everyone.

There are a lot of bots out there and a lot of automated trading platforms. How do you settle upon the option that’s best suited to your needs? Well, before you start comparing bots, you should zoom out and perform basic due diligence on the platform itself.

Check the Team

Search for user reviews and see what people are saying about the company on social media. Does it have a favorable reputation? Are support requests resolved satisfactorily? Does the platform have the sort of social proof that attests to its legitimacy? Look for social media followers, engagement, influencer endorsements, and testimonials from other industry players.

Choosing the Right Automated Trading Platform for Your Crypto Journey 

Further, look at the language the company uses. Does it promise unrealistic profits or guaranteed daily returns? If so, exercise caution. Responsible companies don’t dispense promises they can’t keep. The best actors will aim to educate their audience on automated trading rather than shill them.

Not All Bots Are Equal

Once you’re satisfied that the automated trading platform you’re examining is legitimate, it’s time to take a closer look at the bots it offers. This is where user experience comes into play, distinguishing the best providers from the ones best avoided altogether or left to the pros.

Ideally, customizing the trading bots should require no coding. Look for a platform with a user-friendly interface that simplifies filter selection. The underlying trading strategies might be complex, but that doesn’t mean parameter adjustment should be. If the platform has a copy trading feature that allows you to mirror the moves of professionals using bots, that’s also a bonus.

Another thing to examine is the number and quality of the exchanges the automated trading platform supports. Does it allow API integration with the CEXs you currently use? Finally, consider the range and sophistication of the trading strategies the platform supports. Are its bots designed in-house, or is it possible to incorporate trading signals provided by professionals? Support for third-party bots is preferable.

Automated Trading Is a Journey, Not a Destination

If there’s an active community, be it on Discord or Telegram, access to back-tested trading data is even better. While there’s nothing stopping you from using bots developed by multiple platforms, you may find it easier to keep your bots all in one basket, so to speak, while spreading your trading across multiple exchanges using the integrated APIs.

That way you can enjoy the best of both worlds: the convenience of using a single interface for all your trading needs coupled with the risk management that comes from keeping assets on more than one exchange. Select the right automated trading platform and watch your PnL pick up.

David is a technology specialist who has been writing about business, technology, and IT-related topics for the past 6 years. He loves working with brands to develop content that helps them connect with their target audience.