Can Bots Make You Money On Trading Platforms in 2022 With Zero Risk?
Best Online Trading Platforms of 2022 with Zero Rissk
Introduction
What if I said, you could make money by loading money in an app, turn it on and sleep? Sounds too good to be true right? Well, in many cases it is.
That’s because in many cases these bots can be completely wrong. They can just blow up your account.
However, this article talks about a hack that make use of bots and can’t make you lose any money at all. Yes. You heard it right. There’s zero risk involved.
To begin with, let me tell you how most trading bots work. Also, why bots are potentially bad.
Most Trading bots try to predict the future. They try to look at the stock/cryptocurrency prices now and determine if the prices will go up or down. This becomes the basis of their buying decisions.
The problem with this concept is that this can completely go wrong. This makes using trading platform bots very risky.
Here is a three-step hack you can make use of bots to make money on trading platforms right now.
What if I said you don’t have the invest any money? Sounds crazy = Right? Hear me out for a moment more. Check out these 3 step formulae.
Arbitrage
Here your bot buys cryptocurrency on one exchange and sells it on another exchange at a higher price.
For e.g., if a cryptocurrency is selling at $ 100 on exchange A the bot will buy it from there and sell it on exchange B where the cryptocurrency is trading at $ 101.
Now, this doesn’t look like a huge profit. But what if you can scale it up? Here’s exactly where the bot comes into play. So then, how do we scale it up? It requires a huge sum of money – Right? What if I say you could borrow the money? Check out the next step.
Flash Loans
The Blockchain communities offer loans in the form of cryptocurrencies to traders. This is possible because blockchain technology can handle complex transactions. So, what does this mean?
With flash loan capabilities you can basically trade millions of dollars using arbitrage. This basically helps you make huge profits without investing a penny. Interesting, isn’t it?
There is a simple process to avail of the flash loan benefit.
Smart Contract
Smart contracts are written in a coding language called “Solidity”. It looks almost similar to Java Script. You can write these smart contracts directly into your browser.
Integrate Flash Loans
There are several different flash loan providers out there. Aave is one of the most popular ones. They provide a crypto liquidity reserve. Thus, you can borrow millions of dollars worth of cryptocurrency. Aave gives you detailed documentation on how to set it up.
Price Discovery Bot
This bot helps you keep a real-time watch on the price discrepancies on various exchanges. The moment the bot sees there are discrepancies it instantly triggers the flash loan and calls the smart contract.
To conclude, you can use flash loans to leverage arbitrage to generate profits with almost close to zero risk involved.
Reach out to us if you would love to build trading platform bots or make use of artificial intelligence in the fintech space to leverage this vacuum in 2022.
