There are many advantages to automating one’s trading tactics instead of pointing and clicking with a mouse. For starters, bots can execute trading decisions free of emotion, are lighting fast and have far fewer margins of error. According to CNBC estimates, crypto trading bots account for 70% to 80% of the overall trading volume.
TokenBot is an automated copy-trading platform designed for social trading groups and communities within messaging apps such as Discord, Telegram and Slack. Once added to a social media group, TokenBot monitors the admin’s account on an exchange and automatically notifies members of their trading activity details in real-time. The bot has more than 8,000 daily active users and streams close to $100 million per day in trading volume.
In an exclusive ask me anything session with Cointelegraph Markets Pro users, TokenBot co-founders Anthony Elia and Shaun Newsum shared insight on how the bot could help crypto traders.
Cointelegraph Markets Pro User: What crypto exchanges are currently supported on Tokenbot?
Anthony Elia and Shaun Newsum: We support all of the significant spot and futures exchanges. Binance, FTX, Bybit, Coinbase, Kraken and BitMEX. We are expanding to Gate.io, OKEX, Huobi shortly. Many of our master traders who use the platform, especially those with leverage trading strategies, use Binance, with FTX coming in at second place.
CT Markets Pro User: How does the structure work? I connect my API to the bot, and then the trades are shared through friends/community via Discord/Telegram? What’s…