Student Builds Free Trading Bot That Beats Competition

Shaz, a computer science major in the US, has created a simple dollar cost averaging bot that has outperformed its competitors.

The project is named DCA Stack and contains open sourced code used to perform dollar cost averaging strategies across multiple exchanges.

In a Crypto Fireside AMA hosted by Andrei Rotariu the project developer explained how and why he created the application.

Shaz said he was tired of the lack of exchanges that offer recurring buys and the fees that automated trading tools would charge for the service.

DCA Stack got its name from being a stack of tools used for dollar cost averaging. The program is still in its infancy and Shaz stated there will be many more features to come.

Dollar cost averaging is a method in which you purchase similar amounts of a cryptocurrency or stock over a period of days, weeks or years.

This strategy has been praised by many cryptocurrency investors who understand the market is volatile and cannot be timed. This bot makes it simple for anyone to set up regular purchase intervals without the hassles of being reminded to do it manually.

Shaz originally previewed the bot to different cryptocurrency communities and used user feedback to develop a working product. The product has yet to be marketed but Shaz has already created a small community of users for DCA Stack.

Shaz believes tools like DCA Stack can help users look past the emotions that come from the volatility of Bitcoin and other cryptocurrencies. It allows users to set up their strategies and not be distracted by the daily value of digital assets.

DCA Stack has already made an impact to its community with nearly half of the users opting to donate toward the project’s growth. While other automated trading tools cost $5 to $20, the average donation toward DCA Stack, which is free, is $25.

Shaz says this shows how much the cryptocurrency communities are tired of the inferior trading tools available in the market today.

As with any trading tool, it is always best to do extensive research into the product before using it. The code is open source which means anyone can view it.

Trading tools do have access to your trading accounts which is a risk in itself. Never trust a tool like this with any major account or holdings.

Source

Updated: 01/20/2022 — 18:00