PayBito Chief Supports Bot Trading, Propagating the 'Mediator of Trust' Theory

PayBito promotes its crypto trading bot - a trusted and intelligent device that may help maximize returns from crypto trading.

PALO ALTO, Calif., June 25, 2022 /PRNewswire-PRWeb/ -- Global digital assets exchange PayBito promotes crypto trade through trading bots. PayBito chief and blockchain pioneer Raj Chowdhury supports the use of trading bots recalling the theory that blockchain was designed to be "trustless".

The theory follows from the assumption that one cannot trust or distrust people unknown to them. Identities of people are not to be known and are unnecessary since public ledgers are constructed through the distributed workload of cryptographic problem-solving. What follows is the ethos, that blockchain technology is inherently the object of trust, and is, therefore, a mediator of trust by default. The distinction being non-exclusive in this case, the technology is a mediator of trust between people and an object of trust for the people.

"The realization, that people bestow their trust in technology rather than in other people is what led to the creation of crypto trading bots," remarked Chowdhury in a Webinar.

Trading Bots come with a feature that connects users' wallets holding their investments in crypto like Bitcoin or Ethereum to exchanges. To avail of this, users are first required to go to an exchange to create an API key. The users, then, have to go to the trading bot's website and enter the API key to connect. This being highly sensitive and critical user information to share with an external party requires users to add read-only keys. This shows users their currency balances on the connected accounts help maximize the return from trading.

• Features of The PayBito Trading Bot include:

1. Smart strategy design - ensures creating a bot trading strategy with a few clicks.
2. No downloads required - The platform stays upgraded with a cloud-based online service, hence, no downloads are needed.
3. Secure and safe - Addressing safety and security concerns, the funds are adequately protected in the ecosystem of the exchange.
4. Tradingview charts - They can help you assess the performance of the bot by utilizing the quick Tradingview charts feature.
5. Ready-to-work strategies - Offer alternatives that can help you pick from predefined plans operating on accurate test results.
6. Test-before-investing - The test-before-investing feature enables this platform to demonstrate the setting's entire response to the loss or profit.

As for developments, PayBito has recently introduced its desktop app with a free download option. Custody solutions offered by PayBito have gained institutional investor-clients from the west. Portfolio management technology by PayBito has been well-received by the UK trading markets.

The one thing technology enjoys, over the years in operation, is trust when it eliminates all forms of human intervention. Trading bots are no different. "People have embraced technology sufficiently to be able to trust its decision-making capabilities," added Chowdhury. "The popularity of DeFi, DAOs, smart contracts, and crypto trading bots provides proof of it."

Crypto trading bots should take off in the global crypto trading scene with their features providing market insights helpful even for novice traders.

About PayBito:

PayBito is a leading cryptocurrency asset trading platform operating globally. The platform is designed and managed by a team with rich experience in Banking security systems, Cryptocurrency trading, and Blockchain technology. It is available in the web version as well as in iOS and Android stores. PayBito services include a white-label cryptocurrency exchange, white-label payment gateway, exchange affiliate, and coin listing. PayBito offers some of the best rates and top-notch security in the crypto world.

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SOURCE PayBito