Trading bot for Binance

Cryptocurrency platform Binance is the leader among cryptocurrency exchanges in terms of the number of active users. There is hardly a person who is interested in cryptocurrency but does not know about this exchange. Because of the extensive knowledge base and user-friendly interface, many novice investors and traders start their way into the crypto industry with Binance.

The platform was created in 2017 and in just five years of its existence has earned the top 1 among cryptocurrency platforms. There are more than 370 different tokens and coins, as well as a large number of trading pairs. Users can trade both on the spot market and via margin trading.

Binance also has a native BNB token as well as the BUSD Stablecoin.

To automate trading on this platform, you may want to use RevenueBot’s Binance trading bot. With it, you will be able to trade cryptocurrency 24/7 on the largest crypto platform in the world.

Using this bot, you will be able to trade on the spot market as well as Binance Futures USDS-M and Binance Futures COIN-M open-ended futures contracts.

Why Binance Is Trusted

Binance cryptocurrency platform has well implemented security. This is one of the key points to pay attention to before choosing the platform on which the coins will be located and where you will trade them.

According to Binance’s management, 95% of the platform’s users keep their funds in cold wallets and the remaining 5% in hot wallets to make instant payments.

What measures Binance has taken to secure user funds:

  • Setting up a security key;

  • Connecting the Google Authenticator;

  • Confirming account login by phone number and email;

  • Whitelist for withdrawing funds;

  • Anti-Phishing Code;

  • Manage devices that are allowed to access your account.

Thanks to all these points, users do not have to worry about the safety of their money.

In addition, the website requires an identity verification procedure.

What is automated trading

Automated trading, a cutting-edge approach to financial markets, is prominently embraced by cryptocurrency brokers, utilising algorithmic systems to execute trades swiftly and efficiently in the dynamic and 24/7 nature of digital asset markets.

Automated trading is trading without the constant involvement of a trader. In other words, a person trades even when they are sleeping or spending time with friends. How does it happen? Thanks to trading bots.

According to statistics, in the traditional stock market more than 70% of traders trade with the help of software. In the cryptocurrency market, this percentage is likely to be the same, as it adopts many practices from traditional markets.

So why such a high percentage for software?

  • Firstly: the trading bot eliminates the possibility of human error. This means that it will not make a mistake due to emotions. For example, when a forecast on an asset turns out to be wrong, the trader may panic. The trading bot eliminates this possibility. It will cold-bloodedly continue to trade on the pre-prepared strategy and set parameters.

  • Speed of execution. Unlike a human, a robot can trade multiple trading pairs simultaneously, increasing the chance of potential profit.

  • Trading at any time. The trading bot will not interrupt the trading process for rest, sleep or meetings with anyone. The robot will be able to trade without interruption or weekends.

The benefits offered by trading bots make them so popular with crypto traders.

RevenueBot has been an official partner of Binance since last year. So you can easily create a trading bot for Binance.

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