Is LiveTrader a reliable source of wealth for new traders? Is it too simple to be of lasting value? Due to increasing demand from crypto trading, a growing number of companies have created simple bots to assist beginners.
These are usually very easy and don’t require any coding or trading skills. It’s not difficult, but it is possible. As soon as cryptocurrency became legal tender, it was clear that it was an emerging economic trend. Cryptocurrency will not be going away and crypto trading is a lucrative business opportunity.
What’s so appealing about crypto trading? You can earn an income using crypto automation tools. A bot can be created that makes money for you.
It is not easy. Despite bots having an infinite attention span and not needing breaks, they still require to be set up, updated, and instructed frequently.
A bot that isn’t following the correct instructions should not be expected to profit. Your cash will be used by someone else to fuel growth if you put a bot on the market with ineffective instructions.
Even more important is the fact that not all bots can be considered good bots. It will be easier to find lucrative trade deals if you simplify the bot.
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Bots can also make no money and wouldn’t earn any money if they were in the control of their developers.
New players face a problem because they lack the experience and expertise to distinguish between good and poor bots. New players are more susceptible to being deceived and forced into choosing something easier or cheaper than the “normal” option.
Software that is pre-configured with only a few features is promoted as being easy to use. It doesn’t always advertise that it is the best.
What is the LiveTrader bot used for? It is simple enough to use for beginners, but easy enough to make a living.
LiveTrader is a confusing software program that only makes money for developers. Today, we will find out.
What’s LiveTrader all about?
LiveTrader automated cryptocurrency trading. It allows day traders to trade cryptocurrency without the need to spend hours looking at crypto exchanges and be ready to strike when it strikes.
It offers pre-built solutions such as bots and features within its strategy maker.
LiveTrader promotes the idea of a crypto trading bot, which is attractive to newcomers.
It was launched in 2019, but it already has a strong user base.
LiveTrader is a marketplace that allows skilled and prominent users to rent their software for a small fee.
LiveTrader claims they use data from more than 150 sources to give accurate information on the state of the crypto markets.
These decisions are made to reduce the risk of financial loss and increase profitability.
LiveTrader offers additional security and preparation through extensive simulation and backtesting options for codes that are “custom made”.
LiveTrader allows you to combine accounts from all exchanges into one account. This is the sales pitch. What’s the real deal?
LiveTrader Features
LiveTrader was designed to offer 24/7 cloud access. LiveTrader claims that users don’t need to download any software. This is a huge plus. Downloading trading bots can be difficult and time-consuming. LiveTrader emphasizes transparency on its platform. This includes instructions for how to use the bot and pricing information.
LiveTrader charges no hidden fees. LiveTrader charges no additional fees for its bot. The bot communicates directly to the cryptocurrency exchange of your choice, making it safe. The bots’ interactions with cryptocurrency exchanges do not compromise your funds. LiveTrader emphasizes that it doesn’t ask permission to withdraw funds.
An individual dashboard is available that can be customized for each trader. This dashboard allows traders to keep track of all bot trades. This dashboard is useful for analysing trades and improving profitability. This dashboard allows traders to identify which trading strategies are most profitable and then can refine their trading strategies to increase profits.
LiveTrader supports API integration with many cryptocurrency exchanges including:
- Bitstamp Review
- Bitfinex Review
- Poloniex Review
- Kraken Review
LiveTrader currently lists 8 cryptocurrency trading platforms that are compatible with its trading platform. These are:
- Binance Exchange
- Bitfinex Exchange
- Kraken Exchange
- Robinhood Exchange
- Bitstamp Exchange
- Bittrex Exchange
- Coinbase Exchange
- Shapeshift Exchange
Back-testing is an essential feature for cryptocurrency trading bots. Back-testing can be a great way of evaluating the success or failure of a trading strategy. This is something every trader knows. This makes it easier for traders to spot profitable signals and make money by looking at historical data.
Paper trades can be made with the LiveTrader cryptobot. This allows traders to test their strategies immediately without risking their money. The bots can then place trades in real-time market conditions. Because the bot is not linked to any exchange, real money cannot be put at risk while paper trading.
LiveTrader’s greatest feature is the ability to sign up for trade paper and backtesting at no cost.
LiveTrader Pricing
LiveTrader offers three subscription options. Although the monthly subscription costs more, the annual option offers traders a much better deal than the monthly one. These are the benefits and prices for subscription packages:
Starter Package:
- $9.50 Per Month (normally $19)
- 20 trading bots
- 1 trading strategy
- All technical indicators can be accessed
- All exchanges can be accessed
- Unlimited positions
Advanced Package:
- $24.50 per month (normally $49)
- 250 trading robots
- 5 trading strategies
- All technical indicators can be accessed
- All cryptocurrency exchanges can be accessed
- Unlimitted positions
Pro Package:
- $49.50 per month (normally $99)
- 1000 trading robots
- 10 trading strategies
- All technical indicators can be accessed
- All exchanges can be accessed
- Unlimitted positions
LiveTrader offers a great value compared to other trading platforms. Even if you subscribe to the most advanced subscriptions, the price seems lower.
LiveTrader is quite profitable
LiveTrader does not guarantee profitability. This is consistent with other automated trading platforms. This is a standard practice in the industry. This is understandable considering the volatility of cryptocurrency markets and the fact it doesn’t guarantee certain profits.
Conclusion: Who is LiveTrader for?
Let’s return to the original question. Is LiveTrader too simple? Our estimation is that the answer to this question is yes. LiveTrader is too simple to be of any use to day traders. It is an excellent hobby to trade crypto currencies. LiveTrader is not a good choice if you want steady income from your investments. Quadency and Bitsgap are two examples of full-fledged services with extensive offers that can be used by all levels. It’s better to master crypto trading than be satisfied with simple bots. This is what we believe. No matter what decision, we wish you the best in crypto trading.
