Shopping bots are playing an increasingly important role in the cryptocurrency market. This is especially noticeable on the South Korean stock exchanges, the volume of daily transactions at which much higher. than Japan and China. Algorithms for buying and selling coins pose a threat of manipulation of the exchange rate of the cryptocurrency. At the same time, they contribute to the growth of the stock market, writes Nulltx.
How to trade cryptocurrency
According to the publication, now trade the bots hold a significant share in the South Korean market and perhaps surpass the number of traders. The most popular are bots Coinsum and Watchbot — they account for about 50 percent of the market. For example, Coinsum allows you to trade on the stock exchanges Binance and Bithumb.
While some people may underestimate the concept of automated trading bots, it turned out that thanks to these tools, a growing market. At the same time, they increase the volatility of the coins, and, it seems, while no significant changes in this respect did not happen.
Since South Korea is one of the centers of the crypto world, the likelihood is high that in the near future trading bots start using traders in other countries. Where it leads is hard to say.
Subscribe to our channel in the Telegram. There are a lot of memes and knowledge.