7 Ways to Put Your Crypto Investments on Autopilot

When a lot of us think of the process of investing in cryptocurrency, we imagine sitting for hours in front of a desk or phone and constantly checking the markets, trying to find the right moment to make a trade. While there are people, especially professional traders, who thrive on that sort of strategy, not everyone has that luxury.

People have jobs, family, or simply don't want to spend that much time. If you're in this situation and still want to profit from the crypto sector, there are several ways you can automate your crypto investment process, which we will explore in this article.

Price Alerts

One of the most crucial parts of investing in cryptocurrency is knowing the right price to act on. Whether this is Bitcoin seeing another price rally or a major altcoin declining fast, you need to know when tokens are shifting in order to buy or sell. Rather than sitting in front of a device all day hoping for the right price, you can always set up price alerts. Major exchanges, trading platforms, apps, and so on allow you to set price alerts for different tokens. For example, you could set a price alert of $100,000 for Bitcoin. This means that once Bitcoin hits this price point, you will be alerted. This can be done for multiple tokens so that you only need to log into your account when it hits a price point you want to buy or sell. This will save you the stress of constant market monitoring and should be considered.

Automatic Predictions

Another aspect of crypto investing is figuring out which tokens to put money into and which are going to do well. As Dalmas Ngetich writes, we are always on the lookout for the next 100x crypto to invest in. Doing this manually will require looking into the background of every token you're considering, examining and interpreting their price history, and so on. One way to autopilot this would be to set up alerts for trending tokens.

From exchanges like Binance to aggregators like CoinMarketCap, you can set up alerts that tell you which tokens have rallied the most in the last day, week, month, and so on. One of the best ways to make money from crypto is to buy into a token right as it is starting to rally and sell it when it reaches its peak. Many of us only hear of tokens rallying after they've already been on the increase for a while, but setting up two alerts makes this process simpler.

Trading Bots

Perhaps one of the most prolific ways to autopilot your crypto Investments is to simply turn to a trading bot. As the name implies, a trading bot is an AI-powered program that can be given the authority to make trades on your behalf. Trading bots can be programmed with a number of goals in mind, including maximizing profit, avoiding risk, and so on. A trading bot could, for example, be instructed to buy a certain token and not sell until a certain amount of profit is possible. Trading bots could also be programmed to simply buy and sell in the way that most maximizes profit. From Telegram trading bots to the ones offered by different apps, these bots can save endless time and effort for traders. But, as we've said in a previous blog post, these bots should be approached with a level of caution.

Copytrading

If you've seen ads from platforms like eToro, you're aware of copytrading. Copytrading is a setting on a trading platform that allows users to copy the trading moves of other successful Traders. A major feature of social trading, you can view other users on a platform who have made the most gains in a certain period of time, and automatically copy their moves. If they purchase an asset, you will do the same automatically, and this applies to selling and holding. Copytrading essentially takes away the work of decision-making from you and can be quite beneficial. At the same time, copy trading shouldn't be seen as an excuse to completely remove your eyes from your crypto Investments. Instead, you should continue to monitor them, even as you pursue gains this way.

News Summaries

A part of being a successful crypto investor is staying on track with the different developments in the news. These include specific developments within individual ecosystems, political changes, economic switches, and so on. For example, knowing about a Bitcoin halving months in advance can prep you to either buy or sell depending on the trajectory of the market. And in the age of a Trump presidency, the crypto sector will be more affected by politics than ever before. But in our busy lives, we might not always find the time to read news reports and stay abreast of what is happening. One way to autopilot your crypto investment would be to get automatic news summaries or newsletters. Many news platforms allow for a quick roundup of the day’s happenings, letting you digest them in a few minutes rather than spending several minutes reading each new story. Alternatively, you can follow crypto platforms on social media that will give you bite-sized summaries of the relevant news.

Staking

When a lot of us think of crypto Investments, we think of actively trading tokens on a day-to-day basis. But as many of us know, there are many ways to earn income passively from cryptocurrency. One of the most relevant is staking, which applies to tokens based on a proof-of-stake consensus. Tokens like Ether and Solana can be staked, i.e, an investor can lock away their tokens within the network for a period of time and earn interest in the end. Staking is very low risk and requires you to do very little other than claim your earnings at the end of the period. While it may not be quite as profitable as speculative trading, it is very low effort and should be considered. This is especially true if you are a more risk-averse investor.

Lending

Just like staking, it is possible to lend your crypto tokens to other investors in exchange for interest. Several lending platforms now exist in the market where you can list your tokens for a certain amount of interest. Using smart contracts, the process of borrowing and lending is carried out automatically, including the collection of Interest. Using these platforms means that you can earn interest on your tokens, especially the ones that are currently dormant. Plus, the use of smart contracts means that you are less likely to be scammed and should definitely be considered.

Conclusion

Investing in crypto does not have to mean endless hours of waiting and watching. All the options we've outlined in this article will save you time and effort in monitoring the market, making trading decisions, becoming more informed, and monetizing dormant cryptos. Consider all of them, as well as your individual taste and requirements. But with these at your side, you can maximize your crypto investment experience for the better.