Are you a beginner looking for a platform to start trading? Then TradeSanta might be the perfect trading platform for you. But, of course, this might be something new for you, so before you get along with it, you should have a clear picture of it.
TradeSanta is a trading platform for cryptocurrency that is looking to simplify trading crypto by using customizable bots to make it easy for investors to enjoy the advantages automated trading presents. This saves investors the whole task of learning the steep curve of trying to prepare and program the bots from scratch.
What Is TradeSanta?
TradeSanta is one of the automated trading operators for cryptocurrency. The trading happens on cloud-based software, simplifying the strategies required to trade for everyone investing with the automated strategy.
There are various features of TradeSanta, like the different types of trading bots, multiple techniques for trading, trading tools, and technical indicators, which are the main reasons behind attracting traders, as automated trading makes it more accessible.
How Does It Work?
To use TradeSanta, traders have to connect their crypto account to this platform. After that, they can create the strategy they want by choosing the exchanges and a trading pair they wish to trade, setting up the technical indicators along with the other rules, and selecting the terms and conditions for executing the trades.
Once the user has created the strategy, the user can set it to run automatically, or they can manually execute the trades based on their own set-up rules. The platform also has tools for analyzing and tracking trade performances, notifications, and alerts to help users stay informed about their trade status.
TradeSanta makes trading cryptocurrency easy for users, providing services and tools for starting the process automatically and analyzing profitable trade performances.
TradeSanta Review At A Glance: Pros And Cons
Though it is making it easy for the users, it is better to know all the pros and cons of the platform before investing in it.
| Pros | Cons |
| It supports over 5,700 cryptocurrency pairs. | It does not support some of the major liquidity exchanges. |
| It offers more than a hundred trading strategies. | It depends a lot on the third-party exchanges. |
| It has a large trading volume. | Exchange support is limited. |
| The monthly fees are quite affordable. | Customizing the backtest trading is limited. |
Key Features Of Trade Santa
The TradeSanta platform lets you create monitor, and adjust the bots for buying and selling cryptocurrency on the user’s behalf. It helps make the process so simple that there is no requirement for any programming skills to build the bot or to connect it to the preferred exchange. Here are a few features you will encounter while creating and monitoring the bot.
Grid And DCA Bots
DCA and Grid are two cryptocurrency trading strategies. The Grid bot treats every order distinctively. That means if one of the traders buys N number of coins, the bot will trigger the same quantity of sell orders when the sell indicators are met. Meanwhile, the DCA bot sells the whole quantity from all your orders at once.
For any volatile markets, DCA bots are amazing when you want to completely exit the position immediately after making a profit. Grid bots are a better choice for more stable markets or when you prefer to make frequent adjustments to your portfolio.
Extra Orders
Extra order is a tool you can use when the entered trade does not happen as you expected. This tool lets you sell and buy additional coins at the current price rate, turning your losing trade into a winning one.
The idea behind this is that when you increase the position’s size, it becomes easy to make a profit through small changes in movements. When you are selling a small portion of your position, your losses are limited if the same trend continues.
Short And Long Strategies
The bots used in this platform can be programmed for short and long-trading strategies. Times when you buy a coin expecting that their value will increase or go up are log strategies. Short strategies are those when you sell a coin, expecting their value to go down so that you can buy them at a cheaper rate when that happens.
Technical Indicators
There are various technical indicators that you can use for your bot, like Moving Average Convergence Divergence (MACD) and relative strength index (RSI). These indicators help in getting the best entry point.
These can be used as target price points and identify a specific trend in the price movement or any change in the trading volume. All you have to do is put the exit and entry points, and the bot will automatically place sell or buy orders when they spot those indicators.
Stop Loss
Stop loss is another feature that you can program in the orders that your bot is placing. This stop loss is going to trigger a sell order if it finds that the price is going down beyond your comfort to protect you from facing significant losses. This is a beneficial feature for volatile markets such as cryptocurrency.
TradeSanta Alternatives
The automated investing tools market is growing, and the competition is fierce. But this one is staying ahead because it offers simplicity, high-quality support, and affordability for the users.
But if you are looking for alternatives, Coinbase Exchange, Zengo Wallet, and PrimeXBT are some good choices.
TradeSanta vs Cryptohopper
Both these cryptocurrency platforms support trading pairs and crypto exchanges. But Cryptohopper has a lot more to offer. It has many other options as well. It supports Bitvavo, Poloniex, Binance, Huobi, and many other platforms.
Cryptohopper manages and allows trading in more than a hundred cryptocurrencies from some of the top crypto exchanges, including ADA, BTC, XRP, ETH, and many others.
Recap
To conclude, TradeSanta is a cloud-based platform for trading crypto with the help of automated trading bots, other tools, and various services for cryptocurrency trading. It helps traders create and backtest a trading strategy with a user-friendly interface, along with manual trading strategies depending on predefined rules.
But it depends on your specific choices and needs whether this is the correct trading platform for you or not. So before you choose one, know the capability it holds and the features it has. Seek investment advice from an experienced person, as investing with the help of a robot comes with certain risks, and it is better to have a clear picture of it before you go with it.
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