What does a full bot mean?
I'm Simon, a comedian and so-called crypto hobbyist. And just like you, I'm learning about trading as I go. In these videos, I do my very best to tell you as much as I can about trading apps, cryptocurrency, starting with trading, and much, much more.
So you’re ready to start your investment journey. Great! You probably know the drill by now. You browse the offer, pick a bot you feel confident with, and deposit your funds onto him (or her!). Unfortunately, the bot of your choice isn’t always available at the moment you desire him most. And that’s what we’re looking into today: what does it mean when a bot is full?
Sit back, relax and enjoy the story!
Automated trading in cryptocurrency
So there you are, sipping your glass of wine after a long day at work, the BOTS app ready on your phone. You find a bot you like and are ready to deposit your first funds onto your next champ. But instead of getting ready to rock and roll, you see the message “this bot is full”.
HUH?! No worries, my dears, there’s a perfectly reasonable explanation for this.
What happens if a bot is full?
A bot can be full due to two reasons. The first reason is that this specific bot might have reached its max. Each bot has a maximum amount of money that he’s able to invest in a particular cryptocurrency. See it like this: you have a room filled with people who are each trying to trade ten potatoes. If you entered this same room with a million potatoes, your entering the room would influence the price of potatoes massively. To prevent these kinds of scenarios, the bots in the BOTS app are only allowed to trade up to a certain amount.
Long story short: to protect the users of the BOTS app, the bots in the app are bounded by a maximum. Did a bot reach its max? Then the bot will reflect as ‘full’ on the app! As you can imagine, the better a bot performs, the more popular it will be. And the more popular a specific bot is, the quicker this bot will reach its maximum!
Can you trust the BOTS app?
The second reason is the process. Some bots might be new to the BOTS app, meaning they’re still in their trial period. During this trial period, they’re only allowed to accept a certain amount of investments. By doing so, the BOTS team has the time to make sure the bot performs well without increasing the risk of the BOTS users.
Once a new bot has earned the trust of the BOTS team, it will be unleashed into the world of BOTS — allowing more users to try this new bot. But this doesn’t mean that BOTS won’t monitor the bot anymore. The BOTS team continues to check and monitor all bots in the app. They have lots of safety systems to make sure that the bots in the platform are performing well and don’t make any unexpected moves.
Would you like to learn more about the BOTS app or get some more trading in cryptocurrency tips? Just continue reading below.
See you soon!
There is no such thing as risk-free trading. It is possible to lose (part of) your stake.
