The Hold tab is a section within the BOTS app where users can access and explore hold bots. These bots are designed to buy and hold assets for investors who believe in their long-term growth potential.
What are hold bots?
Hold bots are automated trading bots that purchase and hold assets based on the user's preferences. They provide a simple and passive investment strategy, requiring minimal day-to-day attention or management.
What are the advantages of using hold bots?
Hold bots can be suitable for investors who have confidence in an asset's strong fundamentals and anticipate its appreciation over time. They offer a straightforward way to gain exposure to the crypto market and require little active management.
Are there any disadvantages to using hold bots?
Yes, there are a few considerations to keep in mind. Hold bots are designed for long-term investments, so investors should be prepared for potential losses if the asset depreciates in value. Additionally, relying solely on hold bots for investment can limit portfolio diversification, which may increase risk. It is advisable to mix hold bots with other types of bots for a balanced approach.
What types of hold bots can be found in the Hold tab?
The Hold tab offers two main categories of hold bots: Buy and Hold bots and Rebalancers. Buy and Hold bots automatically purchase the chosen asset and retain it for as long as desired. Users can add more funds to increase their investment or close their position whenever they wish. Rebalancer bots, on the other hand, automatically adjust and rebalance the portfolio to ensure the correct exposure to various cryptocurrencies, using predefined algorithms.
How can I get started with hold bots?
To start using hold bots, you can visit the Hold tab in the BOTS app's Bot store. You can choose a hold bot based on your investment goals and preferences, add funds to the bot with a simple button click, and let the bot handle the buying and holding process.
Can I customize the hold bots according to my risk appetite?
Yes, you can select from different hold bots with varying algorithms and risk levels. Rebalancer bots, in particular, offer different algorithms to suit individual risk appetites and investment strategies. It is important to select a bot that aligns with your preferences and risk tolerance.
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