Top 3 reasons why you should ABSOLUTLY NOT use a paid or free cryptocurrency trading bot
As a cryptocurrency trader & bot maker I wanted to talk about the reasons why you should NOT buy a cryptocurrency trading bot. I trade cryptocurrency as a fulltime job & also am programming a cryptocurrency trading bot. Do not get me wrong the bot i'm using is for private use but i will tell you about public bots paid/free ones.
You are joining a pump & dump.
Most of these signals are processed by a server. These signals will be sent to your computer wich buys the coin for a certain price. The problem here is that people with a slower internet connection get the signal just a few seconds later wich can give you a loss/unfair result. But the worst thing is you are doing a pump & dump and most of the owners program it so they buy the coins first so you are just pumping their wallets.API keys are in danger.
When using a cryptocurrency bot they will ask for an API public and secret key. These give the bot permission to buy & sell cryptocurrency on your account. What some do is buy a coin on their private account and sell them for a way higher price. They will use your account to buy them, you may think this will never happen but it happend in the past for example the coin VIA on the binance exchange.
3.They won't make you profit
Because so many people buy & sell a coin at the same time causing a pump&dump you often only get a small gain or loss. If you look at the results of people using a trading bot in the beginning they will make some profit but later on they always have giant losses.
I hope this article will prevent some people from buying a crypto bot. If you really want a bot make it your own.
You have a minor misspelling in the following sentence:
It should be which instead of wich.Thank you ill change it :) sorry engllish is not my first language
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