If you are a newcomer, the world of crypto trading can feel intimidating. And once you start exploring it, you might find it hard to keep up with all the news and struggle to make investment decisions. Wherever you are in your crypto journey, HAL (formerly Napbots) is here to help.
Why Is It Difficult to Efficiently Trade Crypto?
Crypto trading is the practice of selling and buying cryptocurrencies. A cryptocurrency is a digital currency that is protected by cryptography. Unlike fiat currencies (like the euro or the dollar), they are not emitted by states, but usually by decentralized networks running on blockchain technologies. Bitcoin and Ethereum are arguably the most well-established cryptos – while thousands of other cryptos (often referred to as altcoins) are traded everyday.
Buying or selling any asset, whether it is a trending altcoin or a used pair of jeans, means making a choice. Is this the right time to buy (or sell)? Is the price likely to rise (or fall)? And that’s where the comparison with other types of asset stops: the crypto market is very volatile and speculative, with prices making quick jumps and drops, sometimes within minutes.
This means you need to be tuned in to the markets constantly, ready to trade when needed. However, your decisions shouldn’t be driven by emotions like fear (“the price is going to keep falling, I need to sell now to curb my losses!”) or enthusiasm (“this asset can only go up, I need to buy as much as I can now to make a crazy profit!”). In order to make informed decisions, you need to keep on top of news (major platform updates, coin releases…), not to forget macroeconomic factors that also shape the digital asset market. And of course, trading is technical – there is a whole world of indicators to consider and hundreds of thousands of traders constantly competing.
Does this sound complex and time-consuming? This is where HAL steps in.
How Can I Trade Crypto With HAL?
HAL is a platform that gives you access to sophisticated strategies, designed by experts. The strategies are ready for you to adopt – once you decide on one, it does the trading for you.
Let’s see how it works, step by step.
- Creating an account only takes a few clicks. We just ask for your name, email and a robust password.
- To complete onboarding, you need to connect HAL to your exchange via an API key – we provide instructions for each platform. HAL is compatible with Binance and Kraken.
- Browse the strategies catalog, and allocate your funds on one or multiple strategies.
The strategy is now up and running on your exchange! All you have to do is sit back and track its performance through our handy dashboard.
Why Use HAL To Trade Crypto?
Save time, trust experts and stay in control: we believe these are the top three reasons for you to test – and adopt – HAL.
We have already touched on the issue of time and crypto. It takes a lot of time to build up the knowledge base required to efficiently trade. In addition, crypto markets truly never sleep: they are active around the clock. You might not be up for being connected to your exchange 24/7 in order to make profits or curb losses. HAL allows you to scan through an extensive list of advanced automated strategies in minutes, allocate funds and simply monitor the results.
Anyone can open an account on an exchange and buy a few dollars worth of crypto. But not everyone is an expert. HAL strategies are designed by professional quant traders and crypto analysts. To create these sophisticated strategies, they leverage years of practice as well as expertise in Artificial Intelligence and Machine Learning.
The strategies might be trading for you, but you are always in control. Through a single, easy-to-use dashboard, you can select strategies to apply to your exchange, update their trading budget and track their performances.
HAL provides you with sophisticated strategies to make the most of your crypto journey with little effort. However, keep in mind that your capital is always at risk, especially in a volatile market like crypto.
Ready To Give HAL a Try?
Getting started on HAL only takes a few clicks, and you can begin right here and now.
Need a bit more guidance? Head over to our setup guide.
Investing involves risk, including the possible loss of all the money you invest. In particular, crypto-assets are a highly volatile and speculative asset class. HAL is only suitable for traders who are willing to bear the risk of loss and experience sharp drawdowns. Past performance is not necessarily a guide to future performance.
The purpose of this material is to provide objective, educational and interesting commentary and analysis on developments in the crypto-assets sector. Nothing in this material should be interpreted as constituting an offer of (or any solicitation in connection with) any investment products or services by any member of the CoinShares Group where it may be illegal to do so. Access to any investment products or services of the CoinShares Group is in all cases subject to the applicable laws and regulations relating thereto.