If you’re in Crypto world, you probably heard “Trading bots” a lot. A lot of so called “DeFi” projects always brag themselves that they have “trading bots” making money; unfortunately most of them are just scams simply because “trading bots” cannot guarantee profit!
“Trading bots” are not something miraculous, in fact a lot of exchanges already provide “grid trading” (Binance for example) for free. In general, “trading bots” are just algorithms that generate orders(buy or sell) in a market automatically, and they have been in share trading markets for ages. It’s just these “trading bots” are not accessible to ordinary individuals, only financial institutions and professional firms have the privilege of using them.
Thanks to Crypto evolution, nowadays most Crypto exchanges offer free API access to allow trading bots created by individuals.
There are a number of “trading bots” providers such as HaasOnline or Bitsgap but their services are not free.
I recently came with a perfect solution with following benefits:
- Open source – free to use
- More importantly you run it on your local machine therefore there is no worry about disclosing your private keys to anyone else
- You can inspect its source code
Hummingbot I downloaded it and finished my first bot within a couple of hours on Binance!
Comparing to “grid bots” offered by Binance, I can choose different strategies with more fine tuning, it’s a lot fun and hopefully provides better return 🙂
This application can also participate in “liquidity mining” ( your buy/sell orders generated by this app are given extra rewards as exchanges incentivise your such activities because you’re providing extra capital to stabilise the markets). I’ll provide a short tutorial later, stay tuned!
