Although the price of Bitcoin as well as other Cryptocurrencies have fallen drastically, amidst the chaos some investors seem unaffected as they continue to cash in on Crypto. Seated behind a computer somewhere is an investor who is checking his wallet balance because his money keeps increasing. His secret? A bot.

Maybe you're not so experienced as a trader and can't make any profits when trading. You could really use a bot.

What are bots and how do they work?

Of course I know for a fact that you won't just throw your money on some random bot just because I said you should. Let's get to know these bots better. Cryptotrading bots are basically programmed robots(virtual robots). These bots are programmed by the trader to make carry out certain specific commands in response to market conditions. The trader can program the bot to use certain trading strategies to increase profit. There are two types of bots:

1.Semi atonomous bot is one which detects changes in the market and alerts the user who will in turn buy or sell depending on the situation.

2.Autonomous bot is a bot which carries out all functions without involving the user. It buys or sells in response to the market and is strategic so as to rake I'm maximum benefits for the trader. This kind of bot is more effective. This is because the bot is able to respond instantaneously as changes occur in the market while it's counterpart may lose money due to delayed response to the change. This kind of bot if you've already guessed can make for a good source of passive income.

How can you join the team?

Maybe you've gained interest and are considering to trade with a bot but you have one concern: you can't program one yourself. I got good news for you; you don't need to program it yourself. You could just buy or rent a good bot. Some bots are even free with some costing about 8 to 100 dollars per month. Be careful though in choosing a bot though because not all bots are effective. While some are well programmed by top traders others run on poor strategies which are guaranteed to pile up lots of loses. Bots should therefore be chosen with good research and care.

How much could a bot earn trading daily?

There is not a fixed amount that a bot can make daily but by observing the trends we can strike a good average. When you have a very good bit you'll be able to get between 0.1% to 0.5% interest daily. On a very good day a bot can make about 20 percent profit. It's extremely rare though. So while profits do not look so large on a daily scale they sure look attractive on annual scale. A $2000 investments will yield about $10,000 dollars in a year. So yeah it's worth it.

Thanks for reading let me know what you think in the comments section and don't forget to subscribe to be the first to read my next article.