In the crypto space, a bot (short for robot) denotes a crypto trading software that can help traders automate their trading activities. Crypto trading bots can be programmed to select, buy, or sell a cryptocurrency based on specific criteria outlined by the creator or programmer of the software.
Automated trading systems could be a more efficient and less error-prone way to make high-frequency trades in the crypto market. Cryptocurrency trading bots also offer a highly objective analysis of the price action in the crypto market without any sentiments or emotions that human traders could experience.
Trading bots offer pre-set rules in executing trades and provide a convenient way to trade cryptocurrencies that experience high volatility and price action. Using automated bots for trading ensures that traders never miss trading opportunities arising from sudden and unexpected fluctuations in the crypto asset's price.