TradeSanta Rolled Out Marketplace For Copy-Trading
One of the well-established automated crypto trading platforms in the niche, TradeSanta, has announced the release of the marketplace for copy trading, also sometimes called social trading or mirror trading.
The marketplace will allow traders to spot and copy the most profitable long and short trading strategies for spot and futures markets as well as choose between DCA and Grid bots. Now, the functionality is available for top crypto exchanges, Binance, HitBTC, Huobi, Upbit, OKEx, Binance US, Binance Futures, Bybit and Coinbase Pro. However, the project’s goals for this year also include integration with Kraken and FTX.
Launched in 2018 by the team of financial and software engineers who are passionate about developing better and simpler digital asset trading software, over the past 12 months, TradeSanta has released a series of updates, including futures trading on Binance, integration with Coinbase Pro, custom TradingView signals, various filters, and now the marketplace for social trading.
The marketplace can be conveniently used by beginner users to execute the trades the more experienced traders have executed with profit already. The deals will be copied and closed nearly at the same time with the strategies’ creators, and beginner traders will be able to follow them without even developing a strong understanding of technical indicators and other patterns.
While bots are free at the moment, traders will have an option to monetize their strategies in a couple of months, meaning certain items in the marketplace will come at a cost.
How automated trading works
Traditionally, trading cryptocurrencies has been a manual process, where users had to do technical and fundamental analysis, choose the asset to trade, build their investment plan, schedule their trades and manage all the transactions across all the trading venues manually. Those steps, however, were taking too much time even when bringing significant results.
With the advent of automated trading, the situation has changed since computer programs can now execute preset algorithms to perform a trade. Using many tools, including filters, signals or other forms of technical analysis, a crypto bot opens and closes deals on the investor’s behalf. And the more bots are working for you in the field while you’re having rest, the more great trading opportunities those bots spot. Although no-one can protect you from losses, even the best bot. Because it simply executes your strategy in an unpredictable volatile crypto market.
What is TradeSanta?
TradeSanta is an automated trading platform that offers such bots to trade on your behalf. It connects to the exchange accounts of their customers via API to execute trades automatically in accordance with the automated strategy the customers have previously set up.
As an all-encompassing solution, the platform consists of several components, including a terminal, mobile app, signals and marketplace, each of which has specifically designed trading bots.
The service offers multiple features useful for every novice, casual or professional trader, including extra orders, long and short strategy options, and technical indicators, such as RSI, MACD or Bollinger Bands.
A look ahead on the project’s roadmap includes expanded bots analytics, public API for bots integration, a signal marketplace, and integrations with DEXes and more CEXes – so stay tuned!
Disclaimer: This page contains a paid press release. Simplecryptoguide.com does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. Simplecryptoguide.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release.