Main Functionality of the Crypto Trading Bot

If you want to get the trading bot with best performance, ensure the software does ample amount of basic and advanced functions. The list of must-have features of any crypto trading bot that includes the following:

Notifications

The focus of this feature is on User-friendliness - that can be implemented in different ways that relying on user preference and individual circumstances. Investors can receive notifications to their email address, via popular messaging apps, via SMS. 

Implementation and Dynamic Strategy Change

The core of crypto trading bot is the capability to execute a particular strategy, that should be flexible and change that relies on the sufficiency of the algorithm.

Market Tracking and History Keeping

These two-related functions permit you to collect market data and save it for later reference, analysis and retrieval. This info is crucial to develop new algorithm and enhance old ones. Additionally, this features includes the presentation of reports with data in the form of graphs and charts.

Backtesting

This is a must if you want to test a new strategy by simulating its outcome by utilizing past data from tracking the markets. Backtesting usually takes into account market fees, latency and other factors that have direct impact on transactions. 

Registration, Archive, and Retrival of Transaction Data

This function keeps a history of all transactions that is carried out by the crypto trading bot. This way, clients can track their past financial performance and remember when a specific transaction was made. 

Scheduler

This simple functionality permit the trading bot to work autonomously and only for pre-set periods defined by the user. 

Security

It is another highly requested feature as account and transaction security concerns every online trader, regardless of the market. Since the trading bot has access to your crypto wallet, some security measures are necessary, such as strong ones.

Additionally, a Crypto trading bot development must support various popularized crypto exchange and currencies. Of course, there are common crypto trading bots and you can develop them for yourself, but such a a severe limitation is not always a smart choice. At the same time, it should be noted that bots concentrated only on bitcoins cost less and take less time to develop that can be defined for many entrepreneurs.