Sirwin
Sirwin

Sit Back, Stoic Does the Work

By Ex3lausion | Passivegrowth | 14 Apr 2021


Are you new to the crypto world, or interested in a hands off approach of investing? If you've read any of my other articles, you know that my goal is to create passive streams of income. The crypto world is revolutionizing the idea of passive income. It was once the norm that for your money to make money, you needed to start with a lot of money. Now by utilizing simple tools available, you can grow a steady stream of income from a more reasonable starting point. This article is going to be about a tool I have been using now for just under a month and have watched my money more than double. I have been using an AI trading platform that rebalances my crypto portfolio daily based on forecasts from over 150,000 analysts. The best part, it is affordable. There is no huge buy in or monthly fees. They charge 5% for the year. So a $1000 deposit would cost $50 to manage, but it gets better. If you withdraw funds from your account, you are given a credit for deposits you can make without getting charged. This means that as your account grows, you can withdraw funds and deposit more at no extra cost. This great platform is called Stoic and was created by the team behind the hedge fund Cindicator Capital.

For Stoic to work, there are a few steps. In this article I will walk you through setting up your account and getting the bot to trade for you. Stoic does require a minimum of $1000 in your account to be able to trade. This can be in the form of any major crypto or stablecoin. If you have questions left at the end of this article, please ask in the comments.

 

Step 1:

The first step is to create a Binance account. Now for me, this will have to be through Binance.US due to living in the states. The platform and steps will be practically the same, the main difference is that US members will have to verify their account while non US residents are not required to verify theirs.

For US residents, use this link here:

Binance.US 

For people outside of the US, use this link here:

Binance 

 

Step 2:

Now that you've clicked that link, you should see a page that looks like this:

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Simply fill out the required information and if you want to help me out, you can enter my referral ID 53982495.

 

Step 3:

After you click submit, it will ask you to verify your email. That just requires you to open the email they sent you and click the link included. (Fairly self explanatory) 

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Once you click that link, the next step will to be to secure your account. You can do this with your phone number and they send a temporary code you have to enter. Later on though you can set up Google Authenticator if you prefer (this is what I use).

Now this is where the non US residents get to skip ahead to Step 5 if they want to.

 

Step 4:

To verify your identity, Binance will ask questions that are standard for crypto exchanges. If you are new to crypto exchanges, this process might seem a bit intimidating. It will ask for your name, date of birth, address, and your social security number or tax identification number. Once you fill out that information, they will ask for a "face scan". It simply takes a picture of you to compare to the picture of your ID that you will submit in the next step. For some, this may seem like an over reach, but think about the fact that this is to ensure somebody isn't creating an account in your name and leaving you with the tax bill at the end of the year. The last form they will ask for is proof of residence. For me, I chose to submit a bank statement. You can do that, utility bills, or internet bills. Once that is all submitted you will need to wait until you are verified. (For me it only took about an hour)

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Step 5:

Now you can go to your home page on Binance and click the drop down menu below your username. 

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Here you will see an option for "API Management" click that.

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It will ask you for a name, me in my creative wisdom chose to name it Stoic because I believe in the KISS system (Keep it simple stupid). Now that you named it, simply press create. This should take you to a page showing your API list.

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Ensure that you have the options "Can Read" and "Enable Spot Trading" selected. Make sure you also select unrestricted access because the bot will need to be able to create sell and buy orders for you. 

*Be sure to save your API Key and Secret Key somewhere safe (Google Docs works fine)*

 

Step 6:

Download the Stoic App onto your phone or tablet.

Android Users: https://play.google.com/store/apps/details?id=com.cindicator.stoic_android

Apple Users: 

https://stoic.onelink.me/kRF6/720ae4c9

Create an account by submitting your name and email. 

 

Step 7:

*If you have been doing these steps on your phone, you will need to log onto Binance on a desktop or separate device and go to your API Management page*

This next step is to sync your Stoic App to your Binance account. Go to the profile tab and select "Change Binance API Key".

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The next step has you select if you are using Binance.US or regular Binance.

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The app will then bring up your camera.

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Use the camera to scan your QR code that was generated on your Binance API Management page.

Boom that's it, your accounts should sync up on their own.

 

Step 8:

If you have not yet put any funds into your Binance account, you will need a minimum of $1000 as mentioned before. You can either transfer crypto in from another account if you have some already, or set up a debit card with Binance. To set up a card, go to your Binance settings and select "Add Payment Method". From here you can select to add a debit card, you simple fill out the card information required. 

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Once a card is set up, go to your wallet and select "Fiat Balances". Choose the option for US Dollar (or whatever currency is an option for non US members). Then click deposit, and it will allow you to deposit $1000 a day.

Now that funds are in your account, go back to the Stoic app. Go back to the profile tab and you will see an option for "Deposits and Fees".

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Select that tab and it will show you what you owe in order to begin trading. Stoic requires you to pay in USDT (Tether, which is a stablecoin based on the US dollar value). You can purchase USDT on Binance through your wallet. Stoic has step by step instructions if you need help sending the payment to them.

 

Step 9:

Wait...simply wait. The Stoic website says it takes approximately 24 hours before your bot will begin to trade for you (after receiving payment). For me it took a few days to start, so don't be alarmed if it doesn't begin right away. 

Once the bot begins to trade, you just simply sit back and watch your profits grow.

The bot does have an option called "Strategy Hedging" which can be found on the Profile tab.

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Strategy Hedging will keep a portion of your funds as USDT to help offset the risk of market downturns. You can manually select a level, or you can use their "Dynamic Hedging" option which is adjusted for you by them. I personally have it set to 10% and have been happy with the results. Be sure to find what works for you.

I have been thrilled with the results from Stoic and even in market slumps, have stayed ahead of the market.

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I hope this has been helpful for you and if you have questions or noticed that I missed something, feel free to comment. 

 

P.S. Remember that I am not a financial planner or certified expert and the above is solely my experience and steps I use for myself. Remember that all investing has risks and no investment is risk free.

 

Stoic has also added a referral program. Unfortunately for me, at the time I wrote this it was not an option. However, if you've read this and found it useful, feel free to sign up with my link and we both get 10% discounted fees!

 

Stoic Referral Link

 

 

 

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Ex3lausion
Ex3lausion

I am focused on learning about cryptocurrency and how to use it for passive income.


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Passivegrowth

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