It’s no secret that bot trading drives a large percentage of volume on most cryptocurrency exchange. Through making use of an exchange’s open API, traders can deploy programs composed of algorithms to automate trading 24 hours a day, 7 days a week. Individual traders who make trades manually simply can’t compete with the speed and precision of trading bots, which are also not prone to lapses in attention or capable of letting emotions cloud their judgment.
For the longest time, ordinary crypto traders had no access to trading bots on their own, other than through setting up an account on a website that conducted bot-driven trading for them. This meant that not only did the investors in such websites have no say over what trades were being made, but they had to entrust the website to hold their money as well.
Now the game is changing thanks to Echoestrader, a marketplace platform that allows individuals to select and purchase their own crypto trading bots. In addition, Echoestrader hosts bots developed by others and puts them up for sale directly on their website, with the proceeds going directly to the developer.
Making the Most of a Rapidly-Advancing Industry
As cryptocurrency exchanges have become more sophisticated over the years, they have opened up new ways through which traders can make profits, only limited by the creativity of bot developers. The founders of Echoestrader, an Estonia-based company, saw the rise in dominance of bot-driven trading and recognized a massive potential in connecting individual traders with independent trading bot developers, thereby facilitating a win/win situation for both entities.
Simao Relvas, CEO of Echoestrader stated:
“It is well known to the general public that much of the trading market is already made by algorithms,