Every trader must have experienced losses that held in the blink of an eye, making them lose fortune trading chances. While subscription-based crypto trading bots seem like the trader’s favorable solution, self-coded custom bots are much better than them. Let us delve into the compelling reasons why one should develop their own trading bots rather than going for off-the-shelf subscription trading platforms.
Here is the first reason, “spontaneity & creativity.”
Yes! Building a bot personalized for your trading ways is like sculpting your own masterpiece with no sharp edges. Is it feasible to obtain this exclusivity from a subscription-based bot? No! Those bots will have limited room for customization and predetermined trading strategies & algorithms. Under such circumstances, you can’t freely execute your unique trading ideas with new indicators. So, custom trading bots score their first point by allowing you to experiment on the crypto floor with zero boundaries.
We like to present a few additional five reasons why self-developed trading bots win over subscription-based trading bots.
Reason 1- Modify until you satisfy
Tailoring the application is one of the significant advantages while developing your own trading bot. It means the self-developed trading bots allow you to design your own trading bot suiting your trading goals. For instance, if you already have a unique trading strategy combining multiple indicators or have unfamiliar data sources, you can execute it in your custom trading bot. This level of customization can give you an edge in the market, especially if you have a well-researched and unique approach to trading.
Reason 2- Strong security like a diamond wall
Security is a primary concern in the cryptocurrency domain, where hacking and data breaches have happened in the past. When you develop your own bot, you have control over the security measures you implement. You can choose secure coding procedures and encryption methods to safeguard your API keys and sensitive data in a proper way.
On the other hand, subscribing to a third-party trading bot service means entrusting your sensitive data and trading strategies to a company that may have different security procedures. While reputable platforms prioritize security, the risk of a data breach always exists.
Reason 3- Learns and upgrades on its own
The learning process involved in building a trading bot can also deepen your understanding of market dynamics, technical indicators, and trading strategies. As you overcome programming challenges and optimize your trading bot, you become more proficient at handling complex trading scenarios. We must thank machine learning for this much-needed characteristic.
Reason 4- Cuts off most trading expenses in one go.
People often pre-conclude that building a crypto trading bot on their own will require a massive initial investment of both time and money. At the same time, most third-party trading bot services charge recurring subscription fees monthly or annually based on the features and services they provide. So, if your trading activity increases, these costs can add up excessively.
Now, think again.
Which sounds better? Spending on one-time development fees without any additional fees or paying recurring subscription costs? The former option is quite exceptional when you plan to trade over an extended period or have a considerable trading volume.
Reason 5- Flexible to scale from 1 to 100 instantly
When using a subscription-based platform, you will be extensively reliant on the updates and features provided by the service provider. Under such circumstances, if the platform lacks a specific feature or does not support your preferred strategy, you may be limited in your trading abilities.
Creating your own trading bot gives you unmatchable flexibility to scale and adapt your trading strategies, which gradually evolve as you face different market conditions. Like quick settings, you can add or modify your trading strategy in a matter of minutes by incorporating advanced indicators or optimizing your trading bot’s parameters to adjust based on changing market dynamics.
These are the underlining reasons why a bulk trader must go for bot development instead of subscription models.
We would like to add another point regarding this. If you were active in the crypto trading venue for a while, then you might have known about trading signals. Various channels across Telegram and other platforms provide expert-approved trading signals to help you top the trading charts. The best part is that you can add this external feature to your bot’s core while developing it using our leading Crypto trading bot development services.
So, why settle for a premade subscription-based bot solution when you can create your own crypto trading destiny? The path might be challenging, but the rewards are nothing short of extraordinary.
For professional assistance, Futurengage is the right place to begin with. We will aid you in developing your own bot with a valuable feature list. Talk to our executive team via live chat or fill out a contact form. We are here to help you all around the clock.
