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Cryptocurrency Auto Traders: Trending Technology for 2024

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With the continued rise of technology surrounding artificial intelligence, adaptive algorithms and network information processing, it is no surprise that cryptocurrency traders, always eager to take advantage of the latest fintech technology, are pushing the boundaries of possibility. Automated traders are becoming a common part of the crypto space, with customized AI robots using designated strategies to buy and sell cryptocurrencies without direct user input. These programs execute trades with greater speed and precision than any human could, and they do so with fearless, unbiased, and consistent adherence to their trading strategy. They don’t back down or make mistakes (except those that the user has unintentionally told them to make).

With 2024 already upon us, cryptocurrency trading firms are competing to create and deploy the best and most cutting-edge auto traders. Here are some current leaders, listed in no particular order, that are worth watching.

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Binance

An undeniable market leader, Binance is one of the largest cryptocurrency exchanges and the most popular auto trading platform. It hosts bots developed by third parties, with tens of thousands currently hosted on the site. Bots will have different specialties, favor different currencies, and have different strategies, all searchable on the site when selecting a bot to use. What do bot developers get out of it? Profit sharing, of course, although they let investors know up front how much they will part with for the privilege of trading via bots.

MEXC

Not exactly artificial intelligence, the robots available on MEXC copy the trades made by the best traders in the crypto space. However, it makes this list because it is technically an automated trader and illustrates an option for cryptocurrency traders who don’t want to trust AI but don’t have enough time or knowledge to execute the trade themselves. However, MEXC brings the most value to the traders it copies, with an average profit share of 10% to 20% for each trader that copies them. Ultimately, this is what it means to trust a human being to trade for you.

Bybit

Bybit, a great general trading platform, offers the ability to copy traders (like MEXC does) and also hosts bots with a range of trading strategies and specialties (like Binance). The obvious advantages of this platform are a lower average profit sharing rate when copying human traders (usually only around 10%, even for the best traders on the site), a crypto VIP program and the ability to test bots before investing in them. Testing bots is a great feature for new traders or those who are curious about using bots but aren’t yet willing to trust their money to AI. Practicing with virtual funds and seeing success in a simulation can be a great confidence booster or, at the very least, a valuable educational opportunity. Make your own mistakes in the bot simulator before taking it to the real world.

Kryll

This is one of the most interesting auto trading platforms in the industry simply because its tools are truly unique. Where other sites host pre-programmed bots that allow you to determine target currencies and set pre-determined trading strategies, Kryll’s online platform has a drag-and-drop interface that invites users to create their own strategies. The platform has pre-built bots that work much like other crypto platforms and has integration with Binance for active users on that platform as well.

A year of experimentation

Crypto firms and fintech developers will be busy in 2024. In addition to crypto platforms competing to host the most dynamic suite of bots, nearly every industry is experimenting with creative new ways to implement AI, not to mention intelligence enthusiasts artificial who invent new ideas simply for the sake of doing so. For tech enthusiasts and futurists, it’s an exciting time, and those who have been watching the evolution of cryptocurrencies will have a lot to see this year.

This information is intended for educational purposes only and should not be relied upon as investment advice. As with all investments, there is risk and the past performance of a particular asset class does not guarantee any future performance.

Lee Enterprises editorial and editorial staff were not involved in the creation of this content.

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