Crypto exchange BitBans said on Tuesday that it has partnered with Tradetron, an algorithmic automation platform, for an automated feature. crypto trading For traders and investors.
Automated trading, also known as algo trading, is the process of using computer programs to make a trade follow a defined set of instructions to generate profits at the speed and frequency that would be expected for a human trader. Is impossible.
Tradetron is a multi-asset, multi-currency, multi-exchange that allows strategy makers to build trading algorithms using a web-based strategy builder.
Once users have created the algorithm, it can be listed on an exchange where investors can subscribe to them and take those trades into their existing brokerage accounts.
According to Bitbns, Tradetron is the most widely used trading automation platform in the country.
Gaurav Dahake, Founder and CEO, Bitbns, said, “By following a prescribed set of instructions related to price, volume, timing etc., this trading mechanism has the potential to help create more discipline in trading. Additionally, the platform Will help build greater trust among retail investors who can now bank on a computer program to enjoy smart trading while choosing the strategy that works best for them.”
The feature is live on the Tradetron and BitBans platforms and is available to existing and new users.
Umesh Ranglani, CEO, Tradetron Inc., said, “Crypto as a tool has two distinctive qualities that make it ideal for automated trading; its volatility and the fact that it has a 24-hour trading window. Time may not be available for trading and once the algo is working for you, you can let your strategy work its magic.”
Investors and traders should note that with effect from 1st April 2022, capital gains from Virtual Digital Assets (VDA) or crypto assets are taxed at 30%.
Additionally, investors cannot offset losses in one crypto asset against another crypto asset.
Along with this, from July 1, 1% Tax Deduction at Source (TDS) will be applicable on every transfer of such properties, which will also be applicable for every algo trade.