BOTS Blog: How to invest with crypto?
BOTS is going to turn the world of investing upside down. Algorithmic trading will become available to everyone in the world, not just the richest 3% in the world. To help you get started with the BOTS app, we've created some informative videos for you.
The BOTS app is an open platform on which expert developers offer their bots. These bots invest for you. They make their choices based on artificial intelligence, machine learning and algorithms. So bots are actually automated trading strategies.
With our app, the best trading strategies are now available to you. And not only for the richest 3% of the world. In this way, together we will turn the world of investing upside down and make it fairer and more transparent.
Trade in crypto
Right now, the bots on the BOTS app are trading mostly crypto. And for some, that's brand new and, fair is fair, maybe exciting too.
How do you start trading crypto as a beginner? Where do you need to be? What are the basics and which apps are available?
In the video below, Simon explains it all to you. He too is a beginner when it comes to crypto trading and has gone to investigate for you so you too can trade like a pro without being one.
Below the video you can find the text.
What is crypto?
In a nutshell, crypto is digital money. The price of these digitalcoins can vary per day. Just like the price of "normal" money. It is important to know that the price of crypto money can rise and fall much more steeply than "regular" money.
The most well-known crypto currency is Bitcoin. But there are hundreds of other crypto coins. You can buy and sell these coins for "real money". This is called trading and you can do this on multiple platforms. When you have made a profit, you can exchange these crypto coins for your own trusted currency, like the Euro or the Dollar.
Trading crypto is pretty tough, especially when you're just starting out. You need to make sure you have somewhere to put the crypto you bought (a wallet) and to make a profit you need to buy and sell at exactly the right moments. This is not different than with shares, but because the price of crypto currencies is sometimes quite erratic, this is a bigger challenge than with shares.
This is why crypto trading is often only for experienced traders.
Start trading crypto
Fortunately, there are also alternatives for beginners. Coinbase is easy to use and therefore very suitable for beginners. Binance is a bit more complex, but still worthwhile if you want to start trading crypto. Both are well-known services to trade, especially since they take security very seriously. A must when trading with digital money.
Another option is, of course, trading through the BOTS app. You don't trade yourself, but you deposit money on a bot. This bot buys and sells for you based on a preset trading strategy. The focus of these bots is on making a profit, so you don't have to spend time trading. This is ideal. Above all, you have to trust the bot you choose.
The BOTS expert has his say
Arthur is the head of the bot creators department and states that the first thing you need, when you start trading with the BOTS app, is patience. Lots and lots of patience.
"We see that there are still people using the bots to trade themselves. They try to find the ideal time to start and stop a bot. But yes, the whole idea of automated trading is of course that you let the bots do the work."
The hardest thing for the user? Patience, too. "We get a lot of questions when a bot drops in value. Or if a bot does nothing for a while, while that bot is waiting for the right moment. The goal is to "win" from the stats and that doesn't happen in one day or one week."
Choose your own strategy
If you're going to start using the BOTS app, it's wise to think about how much risk you're willing to take. Do you like risk? Then you can divide your deposit over one or two bots. If these bots do well, the profits will also be high, of course. If they don't do as well, you can also lose your deposit more quickly.
Simon's strategy? He'd rather invest €50,- per bot in four different bots, than €200,- in one bot. That's because if one bot (out of four) doesn't do as well as it should, there are still three that make a profit.
Managing your risk is always important when it comes to investing, but with crypto it is perhaps even more important.
Manual investing versus automated investing
The big advantage of investing with the BOTS app is the fact that it is automated. It's easier and it takes you significantly less time. A big advantage. You can read more about it in this article.
Need any help with anything?
If you still have questions about the BOTS app, do not hesitate to contact our support department.
Investing is for everyone
Everyone should be able to invest. And now they can. With BOTS. Are you interested, but your question hasn't been answered yet? Take a look at the FAQ's on our site. Or contact us, we will gladly explain it to you in person.
The BOTS app is now live
There is no such thing as risk-free trading. It is possible to lose (part of) your stake.