#BotOrNot 1. Types of Bots You Can Use on Binance

Grid Trading Bots (Available on Binance) – Automate buy/sell orders in a price range.

DCA (Dollar-Cost Averaging) Bots – Invest at regular intervals to reduce risk.

Arbitrage Bots – Exploit price differences between Binance and other exchanges.

Market-Making Bots – Place orders on both sides of the order book to profit from spread differences.

Copy Trading Bots – Follow and mimic professional traders’ strategies.

2. How to Use a Bot on Binance

Binance’s Built-in Bots – Binance offers grid trading bots for both spot and futures markets.

Third-Party Bots – Platforms like 3Commas, Pionex, Cryptohopper, Bitsgap, and TradeSanta support Binance trading.

Custom Bots – You can create your own bot using Binance API.

3. Risks & Considerations

Security Risks – Avoid sharing your API key with withdrawal permissions to prevent hacking.

Market Risks – Bots don’t guarantee profits; markets can be unpredictable.

Binance API Restrictions – Binance may limit or ban API usage if it detects suspicious activity.