Shrimpy vs TokenTact What is the best trading tool for you?

If a target profit is set for 3%, then the trading bot will automatically execute a sell order once this profit has been realised. You’ll be able to manage multiple exchange accounts and place orders through one interface. With the help of Stop Loss and Trailing Stop Loss, you can secure your trades and save them from unexpected market drawdowns.

In that case, the trading bot will begin to conduct safety trades when the value of the selected currency decreases by 5% below the transaction price. Remember that the bot type you chose will help determine the exchanges you can work with. If you’ve clicked the simple trading bot, you can only connect your Binance exchange account. TokenTact is a fantastic tool to manage your accounts by different crypto brokers; an excellent tool for automatic trading, grid trading, DCA bots, HODL bots, and more to come in the future.

TokenTact has implemented the Sign Center, a secure storage system for API keys, to enhance the security of their systems. This new feature adds extra layers of protection to the TokenTact platform. When a trade request is made to an exchange, TokenTact services will ask the Sign Center to sign the transaction, identical to how Metamask or Ledger sign a transaction. As an example, a buy order for BTC at $10,000 is placed by the bot. If BTC’s price drops to $9,000, the bot automatically initiates a sell order.

For traders seeking to automate their cryptocurrency strategies, TokenTact has emerged as a powerful option because of its wide array of bots and customization abilities. However, it is worth exploring some of the other platforms that exist in this growing market segment. You’ll also need to select which crypto exchanges to trade on by connecting your API keys. Once the pair, interval, amount, and exchanges are configured, you can optionally set a start and end date for the bot. Finally, review all the settings and activate the bot to begin automated DCA purchases. This overview shows your account balance, 24h change, and asset allocation across the exchanges you have connected.

Fast forward to today, and over 90% of the crypto market, including Binance, is powered by automated trading. Even lesser-known, small-cap coins are not exempt from the influence of trading bots. The reality is that manual trading struggles to compete with the efficiency and speed of algorithms. Trading bots operate 24/7, compensating for any potential performance slumps, making them formidable competitors in the market.

TokenTact connects with your exchange account via API keys that do not have withdrawal rights. In addition to this level of security, TokenTact does not actually route activity through their servers but instead work directly on the exchanges. Both of these factors can help to play a major role in increasing the safety of the platforms. This is because hackers probably won’t have any incentive to access your account since funds or kept in the exchanges. This is a useful feature that lets users quickly create portfolios with any coin allocation and rebalance their account with a click. The rebalancing of investments is the action / trading strategy of bringing a portfolio that has deviated away from one’s target asset allocation back into line.

I think it is truly a great service, one of the best in terms of connectability to exchanges, mobile app ease of use and general options for traders. TokenTact will allow its clients to use a range of semi-automated trading tools on supported exchanges. Once it is configured by a user, the TokenTact bot will trade automatically on exchanges with a client’s account. TokenTact, a one-stop crypto trading platform that caters for all your trading needs.

TokenTact provides templates that have proven profitable over time when used responsibly by professional traders. Even though I didn’t need it, I tested out customer support for the purpose of this review. I was surprised, and I must say they have quite the crack support team. The TokenTact team have done a great https://privatobank.com/tokentact-bot-review/ job creating a high-quality platform with loads of features in a beautifully and simply designed platform. To make matters worse, the second security breach happened after the team stated that any security issues were patched and the platform was safe to use, even releasing this Security Upgrade blog.

I’ve used several trading platforms for crypto, and if you are working with CEXs, TokenTact is the most powerful platform there is. Another focal point is the analytics of profitability and the operation of signals. While trading can often be looked at in terms of direct outcomes, it’s the underlying analytics that provides a deeper understanding of market movements and bot behaviors. Goryunov’s emphasis on examining the profit of the bot while considering all potential deal closures brings about a comprehensive view of the bot’s performance. It serves as a pertinent reminder that while immediate outcomes are essential, a holistic view of performance over time is crucial for sustained success.

• This product just works as intended, pure emotionless execution with very little effort.
• Even top exchanges like Binance have dedicated bots to help automate trades, place quick buy and sell orders, and do much more.
• Log in to your connected exchange account to access and withdraw your earnings.

The TokenTact Smart Trade Terminal is the second-most important feature of the 3 commas crypto trading platform. By using the SmartTrade feature, you can access a streamlined TokenTact trading interface that allows you to place manual orders on your preferred crypto exchanges. The system offers extensive trade analysis functions like 100+ indicators to analyze the price fluctuations of an asset and trading strategies most compatible to make it profitable.