Arbitrage trading

People are really attracted to the crypto bot. They are eagerly wanted to try crypto trading bot. However, it is not as easy as it sounds. Before you decide on trying/buying/investing in any crypto bot you should ask yourself a few questions. It will help you in making the decision wisely.

What is the experience level of the firm?

First of all, ask yourself what kind of firm you are looking for and what is their professional experience level. It is a very relevant and key question to be answered before you move ahead. If the firm has not managed to get $100m or more but have a good track record of successful trading you can proceed with the firm or probably bat on.

Are algorithms offered by them are openly available and widely known to anyone?

Another tricky yet crucial question that needs to be answered is about the algorithms whether they are openly available and known to anyone or not. If the firm is giving you the trade – level data then there is a possibility that their algorithm can easily be replicated. In that case, whatever, “edge” their crypto arbitrage bot has will be arbitraged away quickly.

Is their success associated with your success?

It can be a simple or insignificant question for someone but for you, in such a condition it is a million-dollar question. It can be key that has the power of implicating your profit. You must figure out is the firm willing to reduce or cut their fees if you lose money. At the same time, figure things out the other way around will they succeed if you make money. Are they going to provide you a platform and leave you on your own to figure things out yourself? If that’s the case then it is not a good sign unless you are aware of what exactly you are doing.

Unfortunately, finding the best crypto trading bot is not as easy as answering the previously mentioned questions. Frankly saying, it completely depends on the person. Instead of indulging with marketing strategies or other tricks surrounding the firm ask yourself whether you can trust this firm or person with your money or not.