With bitcoin consistently delivering a good return for knowledgeable investors, traders who are expert in what they do have become the modern stockbrokers of the digital age, knowing when to buy and sell and in many cases becoming rather well off in the process.
It’s a very specific skill set and doing it well requires specialist knowledge and experience – however, in a world full of spam, opportunists and scammers, where each day most individuals will receive at least one email promising riches, who do you trust to teach you these skills?
Most experienced traders have learned as they have gone along, but there’s certainly an amount of risk involved. However, a new breed of trading platforms promise to overturn all that by using automation to replicate how a real trader operates.
Newly created automated cryptocurrency trading platforms like Bitcoin Code claim to perform like a skilled trader – using powerful algorithms and AI to analyse the markets and completely automate trading.
These platforms usually require a minimum investment of around $250, and as a new user, you will want to familiarise yourself with how the tools work before committing to a big investment.
While it sounds like the platform will do everything and you just pocket the cash, be aware it’s not quite that easy. Most of these trading apps will require you to set up the parameters for how you want to trade, so before investing in one, if you are a beginner, our advice would be to familiarise yourself with the currency you want to trade in, spend a few days looking at typical fluctuations and patterns so you get an understanding of how trading works. With most platforms you can also do manual trades, and certainly those with the best returns will be those with the most knowledge.
It sounds ideal, and if you get the right platform it can be really good, but as with anything else, our advice is to ensure you thoroughly research the platform you are looking into and as with any other area of the internet, ensure that you are looking at the original platform (for example, is the URL at the top of the screen spelled correctly?), investigate how successful it is and look beyond the sign up promises. Check out reviews from real-life people using the platform, read their experiences and if you are able to connect with them, see if they are willing to give you tips. A little knowledge, a little guidance, and a little research will help you find the right platform, and use it to best effect.
It also goes without saying that when testing a new platform, don’t invest a large sum until you have more knowledge and experience of how it works. Start small and build on your success, build your knowledge too and you’ll be able to put it into practice to grow your cryptocurrency balance – with the help of AI.
There can be a lot of hype surrounding cryptocurrency – and it’s certainly true that many people have earned plenty of money trading. Trading platforms deliver a helping hand – but having a little knowledge and experience too will really help you get the best from them.