The Most Innovative Things Happening With Bitcoin AI Trading

Feb 7, 2024 Reading time : 5 min

Cryptocurrencies are getting popular all around the world. Noticing the rise of the trend, platforms like bitcoinscode.org are gaining the limelight. From trading bots to different technologies used in crypto exchanges, there is always something that keeps on happening in the crypto industry.

One of the key changes that have completely evolved the game is Algorithms or Artificial Intelligence. With this recent development, the whole process has been almost gone automatic. AI or algorithm provides you the comfort to multiply your investments without tracking them 24*7.

That said, this write-up will get you informed about the role of AI in trading, and how it is giving shape to the upcoming crypto models.

AI Innovation in Trading

Out of several developments in the trading scene, the introduction of AI or algorithms is probably the most valuable development. With its introduction, traders like you will be able to enjoy the comfort of not tracking your investments 24×7 by yourself. For that, AI handles providing you with the best amount out of your trade.

There are several trading bots on the internet that can effectively help you with this purpose. They take full care of your funds, track the market for you round the clock, share news and current happenings with you, and provide every other facility that might feel useful. Since they are programmed with highly efficient machine learning, their intelligence just keeps expanding with time.

Note: Even though many AI tools help you in trading, there is still a change in the quality of service that they offer to you. The fundamental operations are similar in almost all platforms, but the efficiency and effectiveness of their program make the difference.

This graph shows you the data on Global AI Software Market Growth.

Features of Online AI Bitcoin Trade Bots

Regardless of the expertise of some hand-picked trade bots, some fundamental features are almost the same in every single one of them. Refer to the list below to read about those features:

Market Data Access — Almost every tradebot with AI is there for you to provide a historical analysis of the market. The feature of market data access lets you take a look into the insights and past performances. With that analysis, you can make your own informed decision.
Demo Trading — Trading is not everybody’s cup of tea, but everybody should try it at least once in their lifetime. Thus, platforms like Immediate Code AI provide you the chance to demo trading to decide if you can go for it or not.
Security — The makers of tools like these understand the value of hard-earned money that you trade on their platform. So, several security measures are taken on these sites. For instance, encryption or 2-factor authentication.
Crypto Wallet — Crypto wallets are not available on all platforms, but responsible sites like Immediate Code AI provide their users with a highly secured and safe crypto wallet to keep their investments.

These are the features that you can enjoy on almost any online trade bot. These features are fundamental in every platform, which means, that if accidentally you land on some site that compromises these features, you do not need to pick that platform.

Risks and Benefits of Using AI in Trading

The use of artificial intelligence in trading comes with its benefits and risks. There is no doubt that they make it convenient for you to trade, but, it comes with its cons too. That said, let us give you a sneak-peak into its pros and cons:

Benefits of Using AI in Trading

The primary benefits of using AI in Trading are:

Risk Management: The risk management of AI algorithms is immaculate. Since the programs are trained to analyze past performance with the available data and information, it only gets better with time.
Efficiency and Accuracy: Unlike us human beings, AI, or machine learning, are less prone to common human errors and are more accurate than us. Some programs like Immediate Code AI are renowned for their pinpoint accuracy of time. Their advanced algorithm allows your currency to be bought or sold at the right time.
Scalability: A scalable program can efficiently handle large-scale data analysis and trading operations. With this quality, AI-driven tradebots can handle large operations with ease.

With these benefits, you can multiply your traded amount with the help of artificial intelligence.

DID YOU KNOW?
Algorithmic trading, a subset of AI-powered trading, accounts for an estimated 60-73% of US equity trading volume.

Risks of Using AI in Trading

As mentioned, along with some benefits, there are some risks that are involved in AI-driven trading:

Dependency: Since AI makes trading a lot easier for you, there is always a risk of you becoming dependent on the algorithm. You should practice trading on your own as well to maintain your pace.
Limited Regulations: To provide its users an edge over other traders, the AI uses a lot of data and information. The amount of data and information used in the analysis is concerning and might end up as a risk factor.
Ethical Risks: All the use of AI might captivate you or feel interesting, but it’s ethically wrong if seen from a different perspective. Since it provides an edge to those who pay fees for their services, it gets unfair to those traders who do not use these programs or cannot afford to use them.

Conclusion

AI has made a noticeable change in crypto trading. Especially programs like Immediate Code AI, which has completely changed the scenario with its advanced automation and algorithms. Yet, using AI in trading comes with its pros and cons. Thus, you need to know about them and then make a viable decision.

Also Read: All About Bitcoin Trading and Its Strategies