It is no secret to anyone that dedicating oneself fully to cryptocurrency trading is an arduous task that requires not only time, but also certain knowledge about the market and its fluctuations. We have to be constantly monitoring the currencies with which we are going to operate and it is a very difficult task for a person to be 24 hours a day supervising such a volatile market. That is why one of the most useful tools in this regard are trading bots, programs specially designed to carry out transactions that would take a long time for a human being, since these bots are capable, through their algorithms, of searching for the best options for buying, selling or exchanging in order to get the best returns. In this review we will be talking about one of Kucoin's most striking products, its unique Trading Bots, which are not available on any other Exchange.
Well once again I want to emphasize the benefits of using this extraordinary platform whether you are a novice user looking to invest in cryptocurrencies or if you are already a professional trader in the area. Everyone looking to trade cryptocurrencies wants to do it in a safe, affordable and easy to use place and Kucoin is the ideal place to do it. Kucoin offers a wide variety of extremely interesting products and services to obtain very good returns. Kucoin has a great advantage over the competition, since the fees for each transaction are minimal, and can even be much lower if you use the platform's own utility token called KCS. As for its security levels, all operations are encrypted by highly advanced protocols both in its mobile application and in the web version.
One of the main reasons why Kucoin is the best exchange for trading altcoins is that it was recently named by a popular company dedicated to monitoring platforms of this type, called the ascent, as "the best application for the exchange of cryptocurrencies". this 2022”, which represents a great commitment for the platform to continue providing a high-end service like the one it has been offering for the last 5 years it has been on the market.
Among its main functionalities are:
Trade with high leverage
Pre-sale of tokens through kucoin Spotlight
Unique Trading Bots
Withdrawal and deposit of fiat currencies
As I said before, the kucoin trading bots represent one of the most emblematic and striking products of the company. There are other exchanges that offer their users trading bots but through third parties and that do not generate as much reliability as those that exist in kucoin, since these are provided directly by the platform. The interesting thing about these bots is that they can work in different markets, be it spot, futures, or DCA, being able to comfortably supply the activities of the most demanding clients. It is an extremely intuitive and very useful tool since it allows us to automate our operations and in which we can even customize all the parameters to our liking. The returns that these bots can leave are surprising, some of them have left returns of more than 7000% to their users and to date more than 7,245,000 bots have been created worldwide.
It should be noted that for the use of these Bots, you must have a verified kucoin account, if you do not have one yet, I recommend you create it through the link that I leave below, where with the use of an email or your number of cell phone you can get one. The next step would be to verify it, otherwise you may have many limitations and you will not be able to run any trading bot. To verify it, you just have to click on the icon of your user and select KYC verification; there you will be asked to provide your personal data and finally photos of your national identity document with a selfie. This process is very quick and you can get your account verified within a few minutes.
As mentioned above, kucoin bots can be adjusted to the needs of users, using unique strategies, already pre-established to obtain great returns. These bots have great versatility to be executed in all possible market situations, and it is up to the user to choose the one that best suits their needs. Let's explore each of the available bots in detail:
It is one of the most popular and least risky tools. It is listed as newbie friendly, which makes it ideal for those users without much experience who are especially dedicated to spot trading. It consists of buying low and selling high, which in a very volatile market is extremely valuable. The minimum amount to create the bot is 1,000 usdt for the BTC/USDT pair
DCA (Dollar Cost Averaging)
This is one of the most used strategies to counteract the volatility of the markets, since it allows us to divide our investment into parts, through periodic purchases and not in a single purchase. By pre-establishing a purchase time, the bot will be in charge of buying a certain number of tokens of the chosen currency at times when the market is not so volatile. It represents a much more efficient option at the beginning of a bull market stage.
It works in a similar way to the aforementioned spot grid, in which its premise is to buy low and sell high, but as its name indicates, it is specially created for the futures market. Here we can choose whether to go long or short and with leverage levels of up to 5x. Configuring the bot will also show us the profit range, but if you are a user who is not yet familiar with the futures market, it is advisable to start using the spot grid.
This is one of the most versatile bots, ideal for novice users since it allows us to maintain a balance of the coins in our wallet, but increasing their quantity. It works in the following way: suppose we want to maintain a balance of our funds with 50% KCS 25% BTC and 25% ETH, by using the Smart rebalance bot, if the price of any fluctuates as is very likely, the bot will be in charge of selling or buying the percentage that has changed of said currency to maintain the initial configuration
It is a version inspired by the spot grid, but with the difference that there are no fixed prices or quantities established. Instead, it trades with no upper limit. in case the prices start to increase, the bot will always carry out buy and sell operations and will always reserve an amount similar to the value with which it started, which means that it is an ideal product when we are in a bull market
Once we have detailed all the Bot options available in kucoin, it is time to choose the one that best suits our requirements. For this example I am going to start trading with the first one, the spot grid, which is the most convenient in many situations and ideal for beginners.
1 The first thing to keep in mind is obviously to have a verified account on Kucoin.
2 The next step is to fund your account through the channels you want, it can be buying cryptos directly in the P2P market, through a SEPA transfer or with a credit card
3 we access the trading bot section in the upper bar by selecting the trade category and scroll down to the trading bot tab as shown in the following image or access directly from the following link
4 here what we can see will be the 5 available bot options. We choose the first one, Spot grid and click the create bot button.
The following screen will appear, where you must first select if you are going to prefer the AI option generated by the platform or a totally personalized one. I recommend you use the parameters generated by the AI where you will only have to select the commercial pair, in this case BTC / USDT and the price range will be automatically established.
5 click on create , and verify that all the parameters are correct before clicking on the confirm button.
As simple as that, it is to run our first trading bot on kucoin. The last step is to monitor our profits and the performance of our bot, which we can do from the runnings and profit section right next to the available Bots
It is incredible how easy and simple it is to start operating this type of tool that is so innovative, versatile and efficient that only Kucoin offers us. We can use each of the 5 strategies of each bot available on the platform in situations that arise daily in the market and when we realize how comfortable they can be executed, it surprises even the most novice even more. In addition to this, kucoin has a Telegram community of users with more than 68,000 users with whom we can exchange strategies and if we have any questions, the FAQ section will always be available right at the bottom of the page.
With the implementation of these unrivaled BOTS, Kucoin is ahead of the competition and not for nothing was selected as the best application to trade cryptocurrencies in 2022.