PayBito Chief Expresses Support for Bot Trading and the “Mediator of Trust” Theory

  • June 27, 2022
  • Jennifer Moore

PayBito announces a crypto trading bot feature for traders in its digital assets exchange architecture. PayBito CEO Raj Chowdhury backs trading bot usage, highlighting blockchain’s intended purpose of being “trustless” in nature. 

Crypto Trading in a “Trustless” Environment

Blockchain can facilitate transactions between people unknown to each other. The principle puts the spotlight on the fact that a person can neither trust nor distrust people unknown to them. User identities are kept secure and not revealed as public ledgers function using workload distribution and cryptographic decision-making. The blockchain network authenticates and identifies transactions through consensus mechanisms. Thus, the technology incorporates the “trustless” mechanism in its default state.

CEO Speak

The PayBito chief, also a blockchain pioneer, states, “The realization that people bestow their trust in technology rather than in other people is what led to the creation of crypto trading bots.”

How do Crypto Trading Bots Benefit Traders?

The trading bots facilitate trade users by connecting their crypto wallet holding investments(be it Bitcoin or Ethereum) to digital asset exchanges. Users initially need to connect with the exchange and build an API key. Next, they are required to visit the trading bot website and input the API key for securing a connection. This information is highly sensitive, and users must set read-only keys for sharing with external parties. The product also displays currency balance across linked accounts to help traders assess and maximize trading returns.

Crypto Trading Bot Features

The advent of technological progress has reached a stage where humans rely on technology eliminating the ‘trust’ factor. “People have embraced technology sufficiently to be able to trust its decision-making capabilities. The popularity of DeFi, DAOs, smart contracts, and crypto trading bots provides proof of it,” remarked Chowdhury.  

The PayBito Trading Bot features:

a) Intuitive Strategy Design

The easy-to-use PayBito bot app guarantees minimal clicks while designing a bot trading strategy.

b) No Need for Downloads

The platform interface remains updated with the latest updates. Being a cloud-based service, no downloads are necessary.

c) Safe and Secure Trading Option

Cutting-edge blockchain architecture addresses all the safety and security concerns for client funds within the exchange. 

d) View Charts for Trading

The view charts help in assessing bot performance. Users can access the swift Tradingview charts feature.

e) Ready-to-work Tips and Strategies

The crypto trading bot offers alternative tips to help traders decide upon the best course of action. Users can opt for predefined plans built upon accurate results.

f) Try-before-you-buy

The Paybito crypto trading bot features a test-before-investment option. Users can observe the platform’s performance demonstrations in accordance to the bot’s response to profit or loss. 

Conclusion

Crypto trading bots are quickly gaining prominence across the digital asset trading community for their reliability. It is not far till we see these algorithms play a prominent part, offering invaluable market insights even for beginners.

Source: https://finance.yahoo.com/news/paybito-chief-supports-bot-trading-070000308.html

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