Crypto trading bot marketplace allows investors to follow experienced traders

Cryptocurrency trading was once a mostly manual process, where users had to select the asset they wanted to trade, build their investment plan, schedule trades and manage all the transactions. These steps can result in double or triple digit returns when done correctly.

But really, only a handful of traders can commit to it full-time, which is why automation has become a popular solution.

Automation means that a computer program executes pre-set algorithms to execute a trade. Then, using many tools, including filters, signals, or other forms of technical analysis, a cryptobot can execute trades on the investor’s behalf. The result is that automation gives traders an edge since robots are faster and can trade multiple accounts or different strategies simultaneously, far surpassing even what a full-time trader can complete.

One of the platforms that makes crypto trading robots available to everyday traders is TradeSanta. As a member of their team explains: “TradeSanta is a powerful terminal for you to trade faster, smarter and with lower risk.”

The platform recently added a marketplace feature for mirror trading. With this release, traders get the opportunity to see and copy top performing robots. The functionality of this feature extends to spot and futures markets, enabling users to take advantage of opportunities to trade with leverage. To select a bot, the marketplace will include filters based on type (DCA or Grid), Strategy, Exchange, Market (spot, futures) and pairs.

Although copy trading is free at the moment, traders will have the opportunity to monetize their strategies in a couple of months, which means that certain items on the market will cost.

More than a cryptocurrency exchange

Unlike a cryptocurrency exchange, TradeSanta does not have access to users’ funds. Instead, the platform exists as a software application that enables users to automate their cryptocurrency trading by integrating well-known exchanges. The platform currently automates crypto trading strategies across major exchanges including Binance, Binance Futures, Binance.US, OKX, Huobi, Upbit, HitBTC,,Coinbase Pro, FTX and Kraken.

As an all-inclusive solution, the platform consists of several components, including a terminal, mobile app, signals and marketplace, each of which has specially designed trading robots.

In practice, investors can set up a trading robot to execute a trade immediately or following the signal from a technical indicator they determine. After both events take place, the bot will buy the base currency specified in the settings when a long time passes. After this order is executed, the deal is considered open, which allows the bot to place the Take Profit order, which provides a profit at a level specified by the user, and other additional orders. Likewise, on the short side, the robot will sell coins an investor holds and buy them back lower at a preset price, the difference representing a profit.

If the selected cryptocurrency price moves in the opposite direction of the strategy a user chooses, one of the additional orders is executed and a new order is placed. Each time this happens, the corresponding take profit level is also revised.

Extra orders are just one of the features TradeSanta offers. There are also long and short strategy options, which an investor can choose to use simultaneously, which cover the price regardless of the direction of the asset, stop loss and trading stop loss, as well as subsequent take profit. Technical indicators are also available to users to ensure that crypto trading robots will enter the market at the optimal time. These indicators include RSI, MACD or Bollinger signals, TradingView signals or a combination of them. And all this is available for both spot and futures trading.