In today’s economic times, everyone is far more knowledgeable about financial tools and investment opportunities than was the case 20 years ago. In part, it is a case of necessity, given the economic conditions of the past decade. However, there is also the fact that this is the information age, and online resources make it far easier to learn about every topic under the sun.
These factors have combined to make Generation Z far more financially savvy than its predecessors. Still, the topic of crypto trading is one that amateurs view with some trepidation. It’s not that there are appreciably more moving parts to trading crypto than there are in stocks or Forex. However, its intangible nature makes it harder to really picture what it is you are buying and selling. On top of that, crypto’s legendary volatility means it can be seen as a little too high risk for a beginner.
A Virtual Hand to Hold
These concerns are understandable and logical. What any would-be crypto trader would really like is a little guidance on what to do and when to do it by someone who understands the indicators and knows how to interpret them. In this age of data analytics and machine learning, that “someone” doesn’t have to be human, and that’s where the robots come into play.
The first step towards trading crypto is to choose a trading platform that you can access from your desktop or mobile. There are dozens to choose from, and each has its own pros and cons, along with some handy features. Some fall into the “nice to have” category, for example, dummy accounts that allow you to practice without risking any real money. However, the absolute essential is automated trading. You’ll find it offered by trading platforms like Bitcoin Revolution, and what it does is eliminate the chance of making an absolute howler of a mistake because you either didn’t know what you were doing or simply made a good old fashioned human error.
With automated trading, you can leave the decision making to your robot mentor. It will use the vast quantities of data at its disposal, including charts, indicators and news feed, assess them all in a fraction of a second and make the optimum call on the basis of the information available to it.
No Guarantees
A robot cannot guarantee a profitable return any more than an expert trader with two arms and two legs can. However, it can assess more data in less time than the human brain could hope to achieve, and it will never make a mathematical blunder or get distracted by a phone call or what’s on the TV.
It is effectively the equivalent of having someone with knowledge, experience and focus sitting at your desk and using those skills to exercise trades on your behalf. With Bitcoin Revolution and other similar apps, you can switch across to manual and “take the wheel” whenever you wish. But here’s the other thing about machine learning – the more a robot does a task, the more information and experience it has to draw on. In other words, it will only get better over time, so the wisest move of all might be to kick back and let it get on with it.