For many people, it is a dream to accumulate wealth by actively trading cryptocurrency. In theory, that is a possibility, partly because of the enormous volatility that this market exhibits on a daily basis. Unfortunately, this often works differently in practice. Active trading, especially in the extremely short term, is a profession and it is important to realize that you are trading against people who rely on years of experience. However, there are solutions to realize that dream, at least in part.
Automated trading with trading bots
Discipline is probably the most important skill or quality to trade successfully in the crypto market. What often goes wrong with novice day traders is that emotion takes over from the ratio. People start with a clear strategy, determine their buying and selling rates and if things go wrong, they let go of everything. That is exactly the phenomenon that we regularly see in the casino. With the first losses, people get upset and take more and more risks to get their money back. Unfortunately, that often has the opposite effect.
The result is that a large group of traders comes home from a very cold fair after a relatively short time. Now some software solutions have been built that may help you to trade successfully in the crypto market. We are talking about the so-called automated trading bots.
These are software programs that take over the actual trading from you. The advantage of this is that you indicate in advance how the trading bot should act and that it follows your instructions exactly. Fortunately, losing discipline and playing up emotions is not a problem for this software.
Also, with different forms of this software, it is possible to choose predetermined strategies. Often you can even see the results of the strategy in question. For many people, this is a solution to put their crypto assets ‘to work’ after all. Especially in bear markets it can sometimes be painful to see your hodl stack slowly lose its value.
Automatic trading with HAL by Coinshares
HAL by Coinshares is a form of software that makes just this possible. It is a company that was born in 2018 with the vision to make the strategies of experts available to everyone. Interestingly, they apparently do this so well that Coinshares, the largest digital asset investment firm in Europe, acquired them in 2021.
On the platform of HAL by Coinshares it is possible to work with proven strategies. It is important to realize that these are strategies that have achieved good results in the past. It is certainly possible that this will change in the future. They cannot give guarantees to get rich at HAL by Coinshares, otherwise everyone would use it.
The main value proposition of HAL by Coinshares is that you cannot build your own strategies with the bot. All the strategies available are created by the experts at Coinshares. Less freedom for consumers, but this is how HAL by Coinshares hopes to protect its users.
How does HAL by Coinshares work?
HAL by Coinshares works with a simple three-step plan. This means you don’t need hours to put your assets to work on the stock exchange. Initially, you have to connect the HAL by Coinshares software to the exchange you are trading on. At HAL by Coinshares you can choose from Bitfinex, Binance, Kraken and FTX. Additional grants will probably be added in the future.
Then it is time to choose a strategy, where you can immediately see how this strategy has performed in the past period. In the image below you can see that most strategies are in green, but not every strategy is successful at all times. It can therefore be interesting to spread the power that you want to make available for this software over different strategies.
Basically you are there then. After this, you only have to choose a subscription form and link a payment method. If successful, then it is time to activate your trading bot and start trading. Again, success is not guaranteed, but if you are interested in actively trading, this can be a very lucrative option.
How much does HAL by Coinshares cost?
HAL by Coinshares is a relatively cheap trading bot with a very clear pricing model. As a customer you pay 19.90 euros per month, regardless of your activity on the platform. To play profitable with the bots of HAL by Coinshares you do need some power, but it is not very expensive. In addition, it is possible to try the bots of HAL by Coinshares for 15 days for free.
This way you can see in 15 days whether you like it and to what extent the bots manage to pull a profit out of the fire. So let yourself be convinced especially during those 15 days, before you immediately start paying. Furthermore, there are no hidden costs in HAL by Coinshares and you can store a maximum of $100,000 on the platform.
Transparency and clarity
What makes HAL by Coinshares an interesting platform compared to the competition is that they provide users with a clear dashboard. Here you can see exactly how much profit (or loss) you have made. Here you will also see an overview of your wallet and what percentage of your assets have been allocated to each strategy.
All in all, HAL by Coinshares is a very intuitive solution to start active trading. You don’t actually do it all yourself anymore, but for most people that’s the best. Active trading is really a profession in which you compete against professionals. It sounds very cool to work as a kind of Wolf of Wall Street, but in reality it is often disappointing. In addition, it can be quite boring to look at graphs all day long. Solutions like HAL by Coinshares can save you a lot of time and relieve stress.
What makes HAL by Coinshares interesting?
The strong on HAL by Coinshares is that there is a large party behind it and that they have been active on the market for years. Most alternatives have often not yet proven themselves and appear to work mainly in the short term. In collaboration with CoinShares, HAL by Coinshares has a large team behind it that is working every day to fine-tune the strategies. If it turns out that a certain strategy no longer works well, then at least they don’t sit still at HAL by Coinshares.
Furthermore, in collaboration with CoinShares, the so-called HAL by Coinshares V2 has been launched. This gives users access to several new ways to invest, the platform offers more flexibility, a greater degree of transparency and the design looks a lot sleeker. There are many other options, but if you want to try an automated trading bot, this is it HAL by Coinshares no wrong option.
