During my research for possibilities of so-called “bots” I came across several dubious sites that seem to come from the same “provider”. At the same time there were also some comparison portals which of course also linked to the dubious bots mentioned above.
Also with the innumerable number of dubious Bots there is a “white sheep” which I would like to explain to you.
Often these bots are offered in so-called monthly subscriptions where always a fixed price is due or a one-time payment. I will not go into open source.
With the models mentioned (regardless of their quality) it is to be criticized from the outset that there is a great danger that if no or bad trades are made we will still pay the monthly price and so our profit or even our stock of assets shrinks due to losses!
But there is also an exception that only demands money when trades have made a profit. The provider is also forced ( 🙂 ) to design his algorithms accordingly. In principle, this cost system first creates trust in the work of the provider.
Advantages of algorithms
An algorithm does not feel any emotional needs / fears but only logic. A bot does not read newspapers, tweets or other sources to react to FOMO (Fear on missing out) or FUD (Fear, Uncertainty and Doubt). And he “works” around the clock so when we sleep, work, party, or engage in any other activity.