Adam Cochrane: "Retail traders don't trust trading bots"

Partner Cinneamhain Ventures Adam Cochrane (Adam Cochran) conducted a survey of cryptocurrency traders and it turned out, that many were disappointed with the results of using trading bots.

In the report, Cochran writes, that 10,388 cryptocurrency traders were surveyed. The total amount of assets under them the management compiled $53.5 million. The vast majority of respondents are retail traders, with assets from $ 1,000 to $ 50,000. Such users are 94% respondents. Among all respondents 81% They called themselves active traders.

Since the purpose of the survey was to identify the use of trading bots, then the first question was the experience of using such programs. It turned out, what 38.05% Refined trading bots, but 93% respondents did not extend the trial period. 63.07% They said, that they have problems with the bot, 29.46% They answered, that they just did not have the necessary functions.

One of the main reasons for refusing to use trading programs was the lack of trust in the bot and developers (88.46%). It was also often the reason was the lack of ready -made scripts, insufficient selection of exchanges for trading using a bot, Great complexity and great risk of such trade.

“Many users are interested in automated trade. But they need ready -made scripts, Brands, which can be trusted, and the possibility of separating balance "", - concluded the author of the study.

Trading bots in the Defi industry are very popular now. Such programs monitor potentially profitable transactions on decentralized exchanges and create similar operations with an enlarged commission, so that the transaction is carried out faster than the original. It was such a big problem, that special solutions are being prepared to combat it. One of them is the Taichi Network Network from the Sparkpool pool.