In my beginnings I found it very entertaining to trade, you spent hours on it, generally I had no losses because I was attentive at all times, then things get complicated when you try to trade with several cryptocurrencies and although with learning you acquire some skill in using available tools, however you also have to be very attentive and any blink of an eye with a volatile market, ended in losses, The emergence of the bot was something great, there are many bot in the market that automate that work and download you from that task, but the vast majority are paid, in Kucoin you have this option for free, you can operate and choose up to 5 options to automate these tasks, you can earn passive income automatically without being stuck hours at the computer waiting to make a successful trading.
In this content we will see how to implement it and I will give some recommendations that will be very helpful. Remember that the bot can save you a lot of time and effort, but you must know how to use them in the most appropriate way following a strategy for it.
In the Kucoin platform you have 5 Bot each one oriented to a specific task:
- Spot Grid
- Future Grid
- DCA
- Smart rebalance
- Infinity Grid
Kucoin was founded 5 years ago, has grown exponentially and has more than 18 countries around the world with presence in South and Central America, Arab Emirates, Europe, India and Asian countries, supports more than 51 fiat currencies, you can find more than 600 cryptocurrencies and operate with more than 1170 pairs, high volume of capital which gives it a great liquidity, maintains commissions to operate among the lowest in the market.
Let's review this exchange without going into much detail about all its features and tools that are available in it, last year Forbes magazine ranked it as one of the leading cryptocurrency exchange, also this year receives another recognition from the company The Ascent, which evaluates financial products, awarded him the prize as the best cryptocurrency application, is currently in the top 4 of the best exchanges and many call it "The exchange of the people".
Let's take a look at some of its functionalities:
Search for a cryptocurrency for tranding.
Select pair for tranding
Finding new gems
A gem is a promising new cryptocurrency backed by a good project, which once launched its initial offering, tokens can be acquired and as they are listed on the exchanges their value increases considerably, in Kucoin has sections where we can locate new releases and new cryptocurrencies, that greatly facilitates the task of finding new gems,
If it is a new cryptocurrency, on the Kucoin platform it is very easy to search for them.
Select the Markets option to go to the main Kucoin markets page.
Your link https://www.kucoin.com/markets
You can see the next cryptocurrencies to list
KuCoin Spotlight token sale, new pre-sales
You can find the presales of cryptocurrencies, they are new projects whose tokens are not yet listed on any exchange and you will be able to acquire them at launch prices before their listing.
How to find the spootlight?
https://www.kucoin.com/spotlight-center?spm=kcWeb.B1homepage.Header6.3
- Rethinking, hold a cryptocurrency for a time that could be 30 to 90 days and earn money for it, those blocked amounts are used to pay commissions to miners for validating transactions and also create new cryptocurrencies
- Lending cryptocurrencies, another way to earn money on this platform is by lending cryptocurrencies to other users. Instead of keeping a cryptocurrency, place them in loans, at the end I have the cryptocurrency and earn commission for the loan.
- Use bot for automatic trading, it is an option to configure bot and save you a lot of time and effort when trading.
- One option I highly recommend is to hold a Kucoin token, KCS,
Kucoin gives bonuses for simply holding your KCS token,
Buy cryptocurrencies from other users using P2P, person to person without intermediaries.
Anyway all the above reasons serve as a basis to recommend Kucoin.
To operate with Kucoin you must have a registered account, if you don't have one yet here is my referral link so you can register very easily
https://www.kucoin.com/ucenter/signup?rcode=rP88H5T
Kucoin when you sign up with the referral system gives you benefits ranging from discounts on commissions to direct bonuses,
It will take you to the general trading Bot screen.
https://www.kucoin.com/trading-bot?spm=kcWeb.B1homepage.Header4.3
https://www.kucoin.com/trading-bot
Whichever bot you use I always recommend to follow the following steps
- Have the amount to invest
- Make a strategy
- Select the bot
- Configure the bot
- Execute the Bot
How to set up the Spot grid
Set up in the trading account the amount you want to invest for trading. If you have it in the main account, you must transfer it to the trading account.
Once you have selected the currency that you are going to buy and with which you will pay for the exchange of the pair, which is a first step for a good strategy,
We move to a second step in which you have to make a study of the behavior of the pair with which you intend to make the bot, and the currency to buy, it is good to verify it is at a low price according to the resistance zone, this is its lowest value in a time interval, according to market fluctuations each currency rises and falls in times of volatility, When the currency according to the study is at its average minimum price is the best time to start an automated purchase with the bot, usually there is a floor according to the currency and that is the best time to buy because it is expected to start a rise in price, attracted by the attractiveness of its low price users begin to buy,
Once a good strategy is set up, the only thing left to do is to configure the bot,
bot spot grid,
The robot starts as soon as I configure and accept it, however I can choose the moment I want to start my bot, in advanced options place an entry price and put the value that I know is in the zone of resistance or even lower, when that happens the bot will start its work, you can also place a price to sell maximum.
At any time you can stop the bot and convert your profits, you can do that from your bot history. There I select convert all to usdt
We also have something very good for all the bot there is a tutorial available, here is the link for this bot spot grid
Very different to have tools like kucoin bot to support you when making a trade without having to be spending a lot of time monitoring, we are definitely in the presence of a great option to earn passive without much effort,
But as we recommend the bot must be accompanied by a previously designed strategy,
Advantages frl Bot of kucoin to make trading
- I can monitor the bot and stop if I wish, claiming my profits.
- Saving time and effort
- The bot works 24 hours a day
- Ease of use
- Highly recommended for beginner users
- Free on the Kucoin platform
- Application also available for cell phones
- Earn passive income in times when the market becomes very volatile
- Minimize unwanted loss when trading
interesting link if you want to complement much more the topic of Bot in kucoin
https://www.kucoin.com/blog/what-is-kucoin-trading-bot-and-how-does-it-work
https://www.youtube.com/watch?v=hGbNo1633fk
