All About The Kucoin Trading Bot

By Author: RushRadar
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Lower fees, a ton of altcoins and trading pairs, solid customer support, and great usability are just some of the reasons behind KuCoin's success, but, did you know KuCoin also has a trading bot? Let's find out whether or not it's worth it and how is it is to set up!

KuCoin's Story and Background

Behind KuCoin, there are two tech geeks who were among the first blockchain users. After coding for the first time when he was just 8 and launching his first business at the age of 16, Michael was introduced to Bitcoin in 2012 through his boss Eric and immediately began mining. As he tried selling some BTC via Mt. Gox, It was discovered that the platform, which was considered to be the largest platform in the world at that time, proved very difficult for newbies to utilize. With the rise of blockchain continued to grow, Michael, as well as Eric, recognized that blockchain was changing crypto, both decided to create an entirely new system that didn't just serve a few wealthy users, but all of the world, including those who are unemployed, uninformed and financially disadvantaged. At the end of 2013, they had written ...
... the very first blockchain code inside a café and began the process of creating a People's Exchange to allow everyone to be involved in cryptocurrency.

KuCoin aims at leveraging the latest technologies to provide useful services to everyone, allowing many more people to gain the benefits of blockchain.

It is also creating an online community where everyone is able to take part and let their voice be heard while benefiting from the exchange's progress.

KuCoin is creating an ecosystem that revolves around KuCoin Token (KCS), which will guide you to a flourishing decentralized world created by everyone in the KuCoin community.

What is a Trading Bot?

A cryptocurrency trading bot is a computerized software that is designed to analyze, monitor and then execute trades on cryptocurrency exchanges with predetermined inputs.

In general, these bots utilize a trading algorithm software to automatically purchase and sell crypto in accordance with specific strategies. The most popular algorithms include market-making, trend-following, and mean-reversion algorithms.

Algorithms for market-making generate a constant bid-ask spread. This is because they seek to buy at lower prices and then sell at higher costs. It also creates market liquidity.
Trend-following algorithms look at the movement of a cryptocurrency and then place trades in accordance with the trend.
Mean-reversion methods examine whether crypto appears like it is headed to higher levels over the long term. For instance, it can search for prices that are very high but will probably fall or have low prices that are likely to adjust to higher levels.
Each transaction cost must be accounted for in calculations for trading, and the top algorithms choose the most effective exchange in order to save on transaction costs. Crypto bots for trading is a powerful option, taking away the confusion and complexity that comes with trading various strategies simultaneously across multiple cryptocurrency exchanges.

Due to the high market volatility, A crypto trading bot can assist beginners and experts take control of risk more effectively while also offering flexibility in trading and discipline. Automated crypto trading robots can eliminate human mistakes from the picture. They are also able to seamlessly trade crypto across the markets much faster than anyone else.

The Story Behind the KuCoin Trading Bot

In January 2021, KuCoin officially announced the debut of its proprietary crypto trading bot. It, along with other similar programs, can be utilized for automated cryptocurrency trading. In simple terms, the user needs to open an account, input certain parameters, and then deposit cash, if you want to sign up for KuCoin, make sure to use a KuCoin Referral Code and grab the best welcome bonus.

After you're ready to use the trading bot, it will be able to trade and take over on your behalf. It will make use of the parameters along with the information on the market provided to it via analysis as well as other tools to produce price forecasts and analyses. Based on these parameters, it will put buy and sell orders which will be executed when the price fluctuates.

How to use the KuCoin Trading Bot?

Are you ready to begin Spot Trading? Here's an easy guide that will help you learn how you can earn passive income using KuCoin's Trading Bot in 3 steps.

Step 1

1. Download the KuCoin app
Download and install the KuCoin App Then, look for "Trading Bot" on the main page.

2. Create Spot Trading
Choose "Classic Grid" and then select "Create" to begin automated grid trading. The KuCoin Trading Bot provides 2 methods to build grid trading. One of them is "AI Parameters" and the second option is "Customize the parameters".

2.1 Create Spot Trading via AI Parameters

a. Choose a pair of trading. Because Spot trading chases the volatility of the market, higher volatility will yield more returns. It is therefore recommended to select the most volatile option.

b. The Price Range, as well as the quantity of placed orders, will be determined by the AI and you simply have to input the "Total investment" which is the amount of money you're planning to put into Spot trading.

After you have entered "Total Investment" you will be able to see"Profits/Grid".

c. Tap "Create" and verify for confirmation of the purchase. Then press "Confirm" to launch the bot for trading.

2.2 Create Grid Trading via Customized Parameters

a. Click "Customize Parameters", select an option for a trading pair, and then set the Minimum
Price as well as the 'Max Price'. The Minimum Price is the lowest purchase price. If the price for the token goes lower than this it will be stopped. The spot trading system will cease to function until the price is returned to the chosen level. The same applies to Max. Price. If the price of the token exceeds the price you set, no orders will be processed. Therefore, if you wish to make the most profit, it is best to make sure that the cost of the token does not go over your price limit in the coming days. When creating the grid, attempt to anticipate the minimum and maximum price that the token will attain in the near term in light of previous patterns.

b. Enter the "Number of Orders Placed" and input the "Total investment".

C. Tap "Create" and then confirm the order details and press "Confirm" to start your trading software.

3. Examine the Profits of Grid Trading

a. Tap "Trading Bot" and then under "Running", you are able to view the details of the profits that you earn, including Grid Profits, Floating PNL as well as the number of arbitrages and APR.

b. Click "Trading Bot" followed by "Profits" to see the total profit and the historical profits.

The longer the Spot trading bot is running more efficiently, the more profits you earn.

A Platform for Trading Bots

If you're looking for a platform that is primarily dedicated to trading bots, you may want to check out Pionex, check out this Pionex Review, and, if you like what you see, sign up using a Pionex Referral Code.

Should you use a Trading Bot?

Whether or not you should use a trading bot is entirely up to you, remember to be cautious whenever you're investing, do your own research! That being said, using a trading bot may be very profitable, but don't think that you can simply leave and have no work or effort, you'll have to be very careful, study the markets, and ponder before you decide to invest.

Launched in 2021, RushRadar is all about tracking and finding the hottest and latest trends in the cyberworld. Based on vast years of experience and success, we have outlined five essential building blocks for becoming a successful digital entrepreneur, with those in mind, we've outlined a unique strategy which we call the 5 Steps to Digital Fortune.