Robo traders are taking over exchange platforms by storm

Robo traders or trading robots (bots) are an indispensable tool for any experienced trader. In the year 2009, over 30% of all operations were performed not by actual human individuals but by their virtual assistants.

As far as the cryptocurrency sector is concerned, robots are a relatively recent introduction into this industry. This is hardly surprising as the digital (virtual) money itself was only introduced as a trading instrument a mere five or six years ago.

We may assert, however, that today these robo traders are similarly taking over the cryptocurrency exchange platforms as well. There exist dozens of assistants that are performing cryptocurrency trading operations and closing transactions on your behalf.

The robo traders have become increasingly popular due to the fact that they can be pretty easily downloaded and then used free of charge (for a certain limited period of time). Say, the developers of BTC Robot software — one of the most popular crypto trading assistants — offer a 60-day trial period for their software. Two months of free use will allow you not only to get yourself familiarised and take advantage of all of its features but also generate a considerable income (if you do it right).

Another reason why the trading assistants grow in popularity is the policy furthered by the exchange platforms themselves. Major cryptocurrency exchange platforms — such as Kraken, Exmo, Bittrex, Bitfinex, and a number of others — either promote and support the introduction and implementation of robo traders or (at least) do not preclude or ban the use of such tools. The explanation is quite obvious: a software can perform more operations than a human being — hence, the trading platform will generate more profit on commission fees with a robo trader engaged.

Alas, so far there is no relevant statistical data which would equip us with reliable information on how many operations precisely are performed by robo traders on cryptocurrency exchange platforms. One may, however, estimate that as much as 30 to 40 per cent of all transactions are performed by the traders’ virtual assistants.

So, if this estimate is accurate indeed, we then may state with utmost certainty that cryptocurrency exchanges are experiencing a genuine robo trader invasion. And in the future, there will be even more of these virtual robo tools in the industry.