What is TradeSanta?
Although there are many firms specializing in this particular niche in the trading market, TradeSanta is perhaps the most well-known and esteemed name in it.
A large section of traders has been forgoing traditional trading for automated solutions for trading cryptocurrencies. These platforms make use of algorithms and trading bots to refine their approach to precision trading.
Cloud-based and automated trading in the digital currency trading sector has been gaining popularity over the past few years.
What makes it different from the rest?
The entire purpose of the Tradesanta platform would be geared towards simplifying the trading process and making it as easy and efficient as possible for the user. The TradeSanta platform arms its users with a host of advanced tools, allowing them to make movements on the long and short side of the market.
In addition to this, custom features engineered by the platform help enhance the entire process for the user, aiming to achieve much higher precision in the outcome. The primary difference in the way TradeSanta operates, and how it’s set apart from ordinary trading services, is in the vast machinery of automated assistance it provides to a user.
How does it work?
The bots that the platform offer hold sway over the entire trading process and the user merely select the strategy he or she aims to employ. The platform has features and indicators that keep users informed about the state of the market, the potency of different currencies, as well as the likeliness of change in every currency.
This enables traders to make a more informed decision on the strategy to employ. Once changes occur in the market, the bots present instant notifications while also prompting the user to counterbalance the market’s movements.
Other features read the trader’s own preferences to shape the bots’ approach to the market. Traders choose when they plan to sell their currencies, as well as volume and pace they would desire as well. There are also features that help predicts market trends and assist users in formulating their own strategies to employ.
Tools offered by TradeSanta
While an automated system of bots oversees the trading process, various parameters help the trader stay completely in tune with the market, and also assess future positions of the currencies.
Below are some of the essential built-in tools that the platform has:
Extra Orders
In case a trade moves in an unexpected direction, TradeSanta helps to balance out the movement by adding to that particular position.
Martingale
This is a strategy that the platform employs, similar to that of extra orders. In essence, when the market delves in the wrong direction, putting your position at risk, this tool elevates the volume of the purchase, thereby reducing the losses the trader incurs.
Technical Indicators
There are a host of technical indicators that help assess the market’s position, thereby letting the bots move in at the best possible time and stage. This analytical machinery helps to inhibit the potential for human error from miscalculation.
Charting feature and day filter
Charts that Bots utilize help process data from the market’s previous few days to make the right choice on any particular currency. For instance, if the candlestick charts present a bleak position for a currency based on the market activity from the day before, then the bot stays out of the trade.
Volume Filter
The platform’s bots help to define the profitability of a currency through an assessment of the volume a particular coin had traded in previously. Based on these conditions, the bot also refines the volume of currency to purchase or to sell for its current trade.
Bollinger Bands
These are analysis tools based on technical factors that help the bots draw out a trading range for the best chances of success. The range that the bots map out are usually in the safest zone of trading for any currency or coin.
Advantageous features of TradeSanta
1) A slick and user-friendly online interface that enables greater productivity and control for the user.
2) A two-way model of authentication that helps to secure every transaction a user makes.
3) A ‘Smart Order’ feature that facilitates transactions of larger volumes in a much shorter time.
4) The support of a large Telegram community as well as a 24/7 customer care support system that works through Telegram.
Pricing options
The platform has three essential plans. The first, a free plan, gives users access to five bots. The support systems that the user can access, however, are greatly limited with this plan. A basic plan, priced at fifteen USD per month, gives users access to 49 bots and nothing more than what the basic plan entails. Finally, a premium, or maxium plan, allows users to direct as many bots as they need. Along with this, the client also gets to tap into the platform’s individual support system.
How to set up an account with TradeSanta
Setting up a new account with the platform is a relatively simple pursuit. One would need to create a new user name by entering an email address. This is followed by a simple account validation process. The website sends a mail for verification to your account, which you would need to click on to authenticate your new account. From there, you can begin trading.
The advantages of automated trading
Automated trading can provide a massive boost to the potential for success. One of the major instruments of failure in this field, human emotion and insecurity, is eliminated through the use of bots. In addition to this, bots also help to bring another essential element that one needs for success in trading – sustaining a disciplined and focussed trading routine. However, despite this, no system or strategy is perfect and there is always an avenue for miscalculation and loss, even with automation involved.
TradeSanta’s viability for your trading style
One would need to consider whether or not he’s comfortable using automated systems. This platform requires a surrender of control over the market, and over directions that the trading process takes. This could be a huge burden for the more meticulous and controlling traders in the market. If you’re the type that prefers overseeing and keeping a strong eye on the trades that you make and every element in the process, then this platform would probably not be for you.
Online reviews for TradeSanta
On its own personal Facebook page, TradeSanta has scored a decent 3.7 out of 5. Meanwhile, on Blockonomi.com, the platform scores a significantly higher rating of 8.2 out of 10. Its reviews on the app store are also mostly positive, with some minor complaints of crashes and connection issues with the bots.
Conclusion
TradeSanta aims to perfect the mechanism behind crypto trading, and most of its users seem satisfied. It is certainly a boon for anyone that is new and unaware of the vast technicalities of the crypto trading sphere. More experienced traders, however, might feel less inclined to sign up to the platform, along with clients that have a level of assertiveness over their trading strategies and decisions.
Frequently Asked Questions
Is TradeSanta safe?
There are no indications of unsafe or insecure environments in the online world of the platform. There are strong security parameters in check, including a two-way identity validation process for every trade in the market.
How is this different from other services?
As mentioned in the first paragraph, TradeSanta utilizes an automated system that relieves the customer of most of the work in this process.
How reliable is TradeSanta?
Most reviews indicate a high level of security, strong support systems, as well as efficient working mechanisms for the platform. However, as mentioned, there are no foolproof methods when trading cryptocurrencies, and the market is always unpredictable.
