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Verified Trading Bots
Learn more about our Verified Trading Bot program on Compendium. This documentation explains the bot listing and verification process as well as user-based subscription abilities and setup.
Automated cryptocurrency trading bots are software programs that use algorithms to analyze market data and make trades on behalf of a user. These bots can be programmed to follow a specific trading strategy or to react to certain market conditions, such as changes in the price of a particular cryptocurrency.
The goal of using an automated trading bot is to make trades faster and more efficiently than a human trader could, and to potentially increase profits by taking advantage of market opportunities that may be missed by a manual trader.
There are many different types of automated cryptocurrency trading bots available, ranging from simple bots that execute predetermined trades to more complex bots that use machine learning algorithms to make decisions.
Our trading strategy marketplace features a wide variety of verified trading bot strategies. These strategies are published by vetted third-party authors and also feature our own propriety CompendiuML products.
The Trading Bot Marketplace can be accessed from the "Trading Bots" dropdown on the main dashboard navigation bar.
Detailed information on strategy setup, historical statistics, and more are available. Our system also tracks up-to-date data on all verified strategies and runs these strategies through our proprietary statistical tracking system to include all fees and slippage that a user may experience. This ensures that our main focus of data transparency within our trading systems remains an industry-leading experience, unlike our competitors that only display paper traded estimates.
Verified trading bots are different than our signal provider groups and other products. They also provide monetization opportunities for successful algorithmic authors. All authors and strategies are vetted through a time-controlled verification process. This process usually lasts 30-60 days on a Compendium-controlled subaccount to ensure that test results are not corrupted and that the strategy functions as planned in a live testing environment.
You can explore the listing process, how the platform is monetized, protected intellectual property notes, and more by visiting the "For Algo & Strategy Authors" Page.
There are several potential benefits to using automated cryptocurrency trading bots, including:
- Increased Efficiency: Automated trading bots can make trades faster and more consistently than human traders, which can be especially useful in fast-moving markets.
- The Ability to Execute Complex Strategies: Some trading strategies may be too complex for a human trader to execute manually, but can be easily implemented by a bot.
- The Potential to Increase Profits: By analyzing market data and making trades based on predetermined strategies, bots may be able to identify and take advantage of trading opportunities that a human trader might miss.
- Reduced Emotion: Automated trading can help to remove emotion from the trading process, as bots don't experience fear, greed, or other emotions that can influence a trader's decisions.
You can explore how to subscribe to a strategy and have trading signals automated to your connected exchange account on the "For Users & Subscribers" page.