Adam Cochrane: “retail traders don’t trust trading bots.”

Partner of Cinneamhain Ventures Adam Cochran conducted a survey of cryptocurrency traders and it turned out that many were disappointed with the results of using trading bots;

In report Cochran writes that 10,388 crypt-currency traders were surveyed. The total assets under their management amounted to $53.5 mln. The vast majority of respondents are retail traders with assets ranging from $1,000 to $50,000. Such users account for 94% of the respondents. Among all respondents, 81% identified themselves as active traders;


Since the purpose of the survey was to identify the use of trading bots, the first question was the experience of using such programs. It turned out that 38.05% of respondents had tried trading bots, but 93% of respondents did not extend the trial period. 63.07% said that they had problems with bots, while 29.46% said that they simply did not have the right features;


One of the main reasons for refusing to use trading programs was the lack of trust in the bot and developers (88.46%). Also often the reason was the lack of ready-made scripts, insufficient choice of exchangers to trade with the bot, great complexity and high risk of such trading;

“Many users are interested in automated trading. But they need ready-made scripts, brands that can be trusted and the ability to separate balance sheets”, – concluded the author of the research.

Now very popular trading bots in the DeFi industry. These programs track potentially lucrative transactions on decentralized exchanges and create similar transactions with increased fees so that the transaction is executed faster than the original. This has become such a big problem that special solutions are being prepared to combat it. One of them is the Taichi Network from Sparkpool.