The Best Automated Blockchain Tools In 2022

Crypto has brought about many inventions in the field of finance that either hadn’t been possible or weren’t accessible to wider audiences. Thanks to the advent and the continuing spread of the blockchain and crypto, users of any level can now enjoy and take advantage of an unprecedented range of financial tools.

Automated Blockchain Tools

Some things such as instant transactions, full anonymity and complete agency of users over their funds are now commonplace on the blockchain. However, progress doesn’t stop there, and the world of crypto is entering a new phase where an emerging new trend is likely going to shape the market in the next 5-10 years: automation.

Automated blockchain tools and solutions are slowly but steadily making their way into the daily functionality of crypto exchanges, wallets, and other services, bringing huge time/cost benefits to both institutions and users. It’s worth keeping in mind, though, that automation in crypto goes well beyond mere trading bots and automated market makers (AMMs).

Automated blockchain tools

Crypto Bots & Automation Solution

Cryptocurrency trading bots act based on preprogrammed and algorithmic trading rules. Their decision-making is hinged on the price fluctuations in the market, they analyze market conditions such as price, volume, time, and orders. The best crypto trading bots are often fine-tuned by their users to meet their own trading preferences. Left to their own devices even the best crypto bot can create losses for their users so, despite automated bots doing the work for you, they need to be monitored and maintained.

Operations of any kind that used to take hours and lots of effort to perform can now be completed in seconds or at least done in the background, thus greatly reducing man-hours, minimizing user costs, and taking the overall efficiency of the crypto space to a whole new level.

As crypto automation becomes the next big thing, you may wonder where you should start taking advantage of this new tool. As the trend takes root, more and more crypto users wonder if there’s a place where you can unlock the full potential of your crypto experience with automation.

ICODA Agency, Wednesday, August 17, 2022, Press release picture

How Crypto Automation Can Benefit Businesses

Ordinary crypto users, traders, and enthusiasts can arm themselves with a variety of tools that can enhance their user experience greatly and easily multiply their gains.

Such tools include:

Sniper Bot: sniper bots are tools for finding and reacting to the best bids in online auctions. A sniper bot is highly customizable and can scour the web for bids according to set parameters. These may include the time of the bid (e.g. only seek out and place your bid at the last minute of the auction), price range, and other features. Sniper bots create a buy order the moment the tokens hit the market, so you can acquire assets in the same second. For this purpose, they scan the blockchain and identify transactions to do with the creation of liquidity pools. Once they are formed, the bots immediately make a purchase, and the user becomes one of the first buyers of tokens at the lowest price. Depending on the functionality, the bot can also solve other tasks:

  • Sell tokens at a predetermined price or percentage of profit relative to the amount purchased.
  • Set the percentage of slippage before the purchase. Due to low liquidity after the listing, the order may not be triggered, and the purchase may not take place. Therefore, traders on decentralized exchanges are often advised to set a slippage percentage between 12% and 20% to avoid order cancellations.
  • Setting parameters for buying/selling tokens and others.

Wallet Copy-Trading: copy trading is a win-win feature for any crypto exchange. The goal of copy trading is for the novice trader to have the same trades or copy the position as the investor they are copying. When you are copying the trade, you do not receive the layout of the trader’s strategy rather you will be following their trades blindly. Copy traders are, by their very nature, reluctant to follow the market and need the trading done for them. A crypto exchange targeting broader groups of people can benefit greatly from automated copy-trading features.

Thus, copy trading can be a good solution for beginners who don’t have the time or the experience to trade. Beginners can simply follow these steps to get started:

  • Look for the best copy trading platform, create an account, and then deposit some funds.
  • Once your account is activated, it’s advisable to use the search filter to find traders that reflect your trading style.
  • Review their trading activity and click “copy” when you are confident in copying this trader.

Price Checking: cryptocurrency prices are still fueled to a large degree by speculation. As such, rumours and innuendos can change prices rapidly. An automated trading system can help prevent you from getting whipsawed by major price moves that may occur before you have time to react, or even when you simply aren’t paying attention. For example, if you’re at your job, or out with friends and crypto jumps by 30%, your trading system may automatically bag that profit for you before it vanishes. As no investors can watch crypto prices 24/7, an automated trading system can act as your eyes and ears to not only help prevent losses but also capture gains.

Advanced Marketplace Sales Bot: marketplace sales bots are tools for growing your audience. You can reach new customers by promoting or listing your products in front of millions of shoppers. Discover the easy way to gain followers, optimize your listings, and advertise and sell your items across online marketplaces. With the help of advanced marketplace bots, you can boost your sales by gaining thousands of followers and likes every day. With marketplace sales bots it is not a secret anymore how you can gain more followers, more sales and save time when selling your items online. Such bots make it simple to automate your marketplace’s sales and grow your business. It’s like having a personal assistant who only works on selling your products, freeing you up to focus on the creative side of running your online store.

ICODA Agency, Wednesday, August 17, 2022, Press release picture

Final Words

As crypto automation becomes the next big thing, you may wonder where you should start taking advantage of this new tool. As the trend takes root, more and more crypto users wonder if there’s a place where you can unlock the full potential of your crypto experience with automation. That place luckily exists, and it’s called GOCHA.io. GOCHA is a team of seasoned experts in crypto and blockchain development that offers top-tier automation solutions for both enterprises and ordinary crypto users.

With GOCHA, you can study your particular case and get in-depth consulting on what aspects of your crypto user experience you can automate, and how. With our years-old pool of knowledge & skill, combined with polished in-house tools and bespoke market algorithms, automated crypto solutions will become your new reality, in which you’re always one step ahead.