The Most Important Facts You Must Know To Use Cryptsy Trade Bot

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cryptsy automatic trader

Have you heard of cryptsy trading bot? We do not guarantee you will be able to earn lots of money because,  as in any other way of investing,  it has its own risks. So take this into account and be careful with your decisions. Anyway, there is useful information for anyone who’s interested in Bitcoin trading. We’d like to present you with a program which simply going to do your job for you.

C.A.T.

Cryptsy Automatic Trader or simply, a trading bot, is a particular program which is designed for trading. It is very useful because a program does a routine job. A bot can follow charts on an exchange to make a good purchase or offer. Usually, such a program is customized so a user can change its settings like when an asset needs to be bought, at what price and volume, how long it should keep the asset and when to sell. All these features should be customized in order to create a good bot which will be able to earn money.

Find Out For Free

You can find a few offers through the Internet. Some companies or programmers sell their virtual traders but we strongly recommend you find and use a free one for the first time. No, we are not greedy but there is a good reason. You cannot say for sure if a bot is going to work properly. Moreover, the market is changing significantly throughout the year so you need to customize it each time circumstances change. In other words, we believe that paying money for a trading bot before you’ve assessed the particular program works well, is not only wasting your money but also an extra risk for your capital. First of all, you need to understand how it works.

Related: Top 4 of Best Bitcoin Trading Sites You Have Ever Seen

Open Source

Consequently, we advise you to think firstly of using an open source program which may not be perfect but at least you do not lose a lot of money buying it. Of course, this is for educational purposes, to simply understand how these programs work and how you can customize them. Later on, you will be able to customize them better, find a good trading program or simply code it yourself. So, we encourage you to get to know more about this to understand the issue fully.

For example, you can follow this link on GitHub. There is an open source cryptsy trading bot project. According to the information given by its creator, the bot performs the following simple steps. First, you choose a market, for example, USD/BTC. Then it asks you to define the Multiplayer of the highest Buy Price, of available BTC balance and other stuff, then it does its job.

Sometimes it fails, according to the developer, you should be careful and use it with a limited amount of money.

Buy Then If You Want

So, when you’re more experienced, you can find something else. On that website, there is a good amount of available bots to buy. Moreover, you can still use one for free. If you use a trial version, it will be tied to a single exchange and cannot trade on another. Try it and if it works well, you may consider using a paid one. However, always remember there is a possible risk and do not gamble an amount of money you cannot afford to lose.

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