Is algotrading a good enough tool for managing your crypto investments?
Let’s find out
Entry of Algotrading platforms in the cryptocurrency space is a big development currently happening in India. It can potentially change the way people look at cryptos as an asset class for investment.
What is an algorithm?
Algorithms are usually fully automated logics designed with a given set of rules to carry out transactions. It gets integrated with the investor’s preferred exchange wallet. It can start trading on its own without requiring any manual intervention. A perfect way to manage your investments.
Some of the well-established benefits of using algorithms
Security of capital:
- Your money stays in your wallet (account) and there is no need to get it transferred to any other account.
- The algorithmic platforms cannot transfer/withdraw or utilise the money elsewhere.
Whatever transactions get carried out by the algo gets directly reflected on your exchange’s app in real-time. Investors can keep track of their holdings on their own.
Access to money:
You maintain 100% access to your capital. Investors don’t need prior approval for activities such as top-ups, transfers or withdrawals. However, for seamless operations, it is recommended to keep the algo service provider informed.
Peace of mind:
once subscribed, the algos look after your investments 24*7 without the need for any manual interventions. Investors can also uninstall the algo service on their own if they are not happy with its performance.
Algorithms operate on a set of rules which drive disciplined investing besides being completely free from any emotional interference, thereby improving the overall performance.
Easy to Install:
For this an investor only needs to share an API key and a Secret key with the algo service provider. These keys can get created easily by visiting the API management page under your profile. Usually, it is free of charge as well.
Novice or Expert alike:
With the onset of Algo trading platforms, you do not need to have any knowledge, formally or informally, to be an investor in the crypto market.
With such ease of access to wealth creation at the behest of algo trading platforms, it only requires an awakening among the investors. We at Sypto are only going to make it bigger with our expertise and world-class strategies