Cryptocurrency trading is a demanding process that requires energy, time, and dedication. Price fluctuations, manipulative news, new coins emerging on the market—there are so many factors that make this activity as much hard as thrilling. One could easily miss a fantastic opportunity merely because the important changes happened while they were in bed. One tool that can help excel in trading is a crypto bot.
Bots can be a solution for any trader. But we'll focus on women who seem to show an ever-greater interest in digital currencies and the technology behind them. Most of the crypto exchanges
and crypto-related projects are interested in expanding their demographic
, particularly by reaching more women. A lack of diversity might be a serious threat to the industry, which is why it is likely to formulate a female focus.
Women in Crypto
Women represent only 8.5% of the market
, but their interest in trading has doubled in 2018. It is a general rule of women being less present in financial start-ups, venture capital firms, and stocks. But the great thing about crypto is that it could change the balance of power.
Even women's glossies dedicate some materials to crypto—not just to cover a trending topic—but to highlight the importance of women educating themselves
in order to enter the market as traders or to tell the stories
of successful female crypto entrepreneurs. The educational source CryptoMoms
, targeted at women, was created back in 2014 when the world of crypto wasn't even nearly close to what it represents now. There are also female-focused socialization events
being held and specific ICOs
being created by women for women.
Not only can women be an active part of crypto investments and trading, but they can reshape the direction the market is moving in. A study by Fidelity Investments revealed that women tend to hold crypto
rather than be involved in a short-term trading. This behaviour is influencing the market, bringing stability to it—the more traders choose a long-term strategy, the more chances there are to overcome volatility.
A crypto bot is a software program that directly interacts with the market. The bot is loaded with artificial intelligence and can make investment decisions. It analyzes current price trends and executes trades on the user's behalf. Here are some of the popular examples: Autonio
allows setting an array of technical indicators that instigate trades when the parameters are met, Cryptohopper
is a cloud-based solution that allows you to execute trades automatically 24/7, and Gekko
looks at Bitcoin data and analyses live orders. There are also Telegram bots
, information bots
, and many other types.
Here are some of the main benefits this type of software provides:
Constant market interaction:
While it's different for professional traders, most crypto enthusiasts have separate jobs. Humans have to sleep, do chores, and live their lives. Women usually have more responsibilities in raising kids and taking care of household activities. Crypto bots do not need to rest, and they have nothing else to do aside from analyzing the market and making trading decisions.
Emotions do not always make for strong decision-making, while bots use cold hard logic and data analysis. This takes away potential pitfalls from unreasonable trading choices.
Improved trading speeds:
Crypto bots can remove human error and increase speeds—they execute trades instantly to ensure that you get the best deal.
Managing larger volumes of data:
Computer software has the advantage of being able to process vast amounts of information. People simply can't analyze crypto trends to the same degree.
Using a crypto bot is a great way to get acquainted with trading. As women are less engaged, this aspect is especially important. One could start using a program with a small number of funds and explore trading styles and different cryptocurrencies. The bot's automation and AI technology could take away some of the learning curves and also prevent newcomers from taking huge losses. This can be way more helpful for women than any theory.
As with any automated tool, there might be dangers; some crypto tools are simply scams while others may have technical faults. It's crucial to research a crypto bot thoroughly, check reviews, and read about how to use it effectively.
The world of crypto is dominated by men. There are some female coders, executives, managers, and traders, but their numbers are still not that significant. While more women are eager to enter the market and change the game, innovative technologies like crypto bots can help them greatly. By using crypto bots, women can improve their investment outlook and make edgeways in trading. More importantly, these automated programs can serve as an entry gate for those who are only starting to learn about blockchain and cryptocurrencies.
Julia Beyers acquired a wealth of experience in writing articles on trends and prospects for the development of the game industry in the world as a freelance journalist. Her focus is on blockchain and cryptocurrencies trends, sometimes covering importance of bitcoin for various other industries.