Are Crypto Trading Bots Worth It?

One common question on Reddit is, “Are crypto trading bots worth it?” The answer depends on what your goals are. If your goal is to generate an income, it may be worth considering a bot that automates the trading process. However, there are risks involved. They can be hacked and require careful monitoring.

They can be hacked

Whether you’re an experienced trader or just a newbie in the world of cryptocurrency, you should know that there’s a high risk of being hacked or scammed. Unlike bank accounts and stocks, the money you invest in crypto is unlikely to be recovered if a hacker gets hold of your account. Moreover, most crypto exchanges don’t offer insurance. Although some have some protections in place, this is still not a guarantee that your money won’t be lost.