Despite often producing results higher than the traditional market, trading cryptocurrency is not all butterflies and rainbows. Higher rewards are the direct result of a more complicated market, one lacking in the fundamentals. To compare, consider the process of purchasing a stock. Before engaging in a trade, investors have access to quarterly earnings and sales reports, among other metrics for success.
The cryptocurrency market, in contrast, lacks these same proof points, requiring traders to look at in-depth technical analysis for verification instead. Since the technical analysis process is complex, new investors often find themselves discouraged from entering the market or at a loss when an opportune time to enter the market passes before them. For these reasons, crypto trading bots have become a popular solution for beginner users to execute technical strategies by leveraging a signal generator that makes predictions and determines potentially good trades based on market data and other indicators.
Emerging with the idea to make cryptocurrency trading accessible, TradeSanta has quickly become a leading solution for automated trading. Here, investors are given the ability to choose from MACD, RSI and TradingView signals as the basis for TradeSanta to pinpoint the best trading opportunities on their behalf.
Despite being diverse in functionality, the success of the project is attributed mainly to the hardworking team that has continued to provide new features to users every month while never losing sight of its mission. With 2021 being a busy year, the team shares that 2022 will be even more exciting in feature releases.
Advancing automated trade functionality
Key to the project’s goals for the new year includes the addition of a marketplace with bots and signals, following the trader functionality, integration with decentralized exchanges (DEXs) and new centralized exchanges (CEXs), including Kraken, ByBit and FTX.
The marketplace, which will be released shortly, will allow beginner traders to look at profitable strategies from experienced traders through mirror trading. With this strategy, investors can replicate the same trades in near real-time without ever developing a strong understanding of technical indicators and other patterns.
