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Coinsecure, one of the India’s “Big Four” exchanges has announced its addition into the Cryptocurrency Automatic Trader (CAT) Bot platform. Coinsecure’s addition as a featured exchange makes it the first Indian Bitcoin platform to become part of the CAT Bot list.
Using bots to automate Bitcoin trading is not a new thing. There have been many trading bots out there since the digital currency trading became popular. Unfortunately, not all of them were reliable. CAT Bot is among the few trusted ones that have been around for a while now. Many Bitcoin traders are known to use the bot platform to automate their trades.
Coinsecure communicated the news about the inclusion of its API on CAT Bot to its users over an email. The automatic CAT Bot trader is a Java-based multi-platform desktop application that can be integrated with APIs from multiple Bitcoin exchanges. Apart from Coinsecure, other supported exchanges on CAT Bot includes OKCoin, Kraken, Bitstamp, Bitfinex and Poloniex.
To use the bot, the user will have to first pick the market in which he wishes to trade. Upon selection, he will have to set the first orders and parameters for its execution. Once these things are taken care of, the CAT Bot will take over and execute the trades in accordance with the stated parameters. The STOP LOSS feature on CAT Bot comes in handy when the market is showing high volatility. It allows traders to minimise losses by liquidating their cryptocurrency when its value is falling below the threshold.
Traders can also set “buy back” orders to follow stop loss. It allows them to make a purchase automatically once the price drop crosses a certain threshold. This way, CAT Bot makes it possible for the users to maintain their net portfolio value even at the times of high volatility.
The Indian cryptocurrency platforms have always been adding new features and forging partnerships with leading Bitcoin companies in the world. Coinsecure’s collaboration with CAT Bot is just a tip of the iceberg with more to follow soon.
Ref: Coinsecure Mailer | Image: NewsBTC