If you are a trader in the cryptocurrency market or you are interested in this market, you know that succeeding in this volatile space is not easy. KuCoin is one of the most popular digital currency exchanges and with the KuCoin trading bot they are developing themselves and increasing services to users. With this robot, more customers come to this exchange and interact more with KuCoin. Let’s review KuCoin trading bot.
What is a KuCoin trading bot?
This robot was created for trading cryptocurrencies. This trading trading bot performs better than any human being if used properly. This rading bot has been launched in early 2021. This rading bot has 6 features: Classic Grid, Futures Grid, DCA, Margin Grid, Infinity Grid, and Dynamic Rebalancing. Also has the ability to trade in all digital currencies that are in the KuCoin exchange.
When launching the trading bot, you specify the max and min points and the trading bot operates in this range. The robot will not work above or below this range. If the number of your orders is large in this range, the robot will be more sensitive to price changes. You can also get passive income with KuCoin’s Trading Bot.
DCA & Classic Grid
DCA stands for dollar-cost averaging. Using this feature, the trading bot helps you invest well in a cryptocurrency. Classic Grid also uses the fluctuations of the cryptographic markets. Using these fluctuations, as quantitative trading that uses a network to adjust different price points in the market. The robot then waits for the price to reach these predetermined points. If you reach these points depending on the situation, buy or sell.
KuCoin trading bot on Mobile
This robot is based on mobile phones and you can use it for free. You can install it on your mobile phone and then start trading. The reason this robot is available for free is that you can only use it in the KuCoin exchange, and as a result, more traffic enters this exchange. This app is under development and this is only the initial version of this app and the KuCoin team is looking to develop this app.
Simplicity for Beginners
This app is well designed for beginners who have little understanding of the market. The simple user interface is one of the factors that makes the KuCoin trading bot so good for beginners. But if you want to have a low-risk activity in this volatile market, you need to increase your knowledge in this field and then use this trading bot. It may also be harder for beginners to understand in future updates and the addition of features and tools to the platform.
When customers use this robot for free, the first question that comes to their mind is, is this trading bot safe? To answer this question, let’s look at September 2020. KuCoin lost $ 281 million in assets to hackers. But the exchange has strengthened its security mechanisms, and the trading bot is now well resistant to hacker attacks.
All of these features and limitations and KuCoin trading bot review make it easy for you to decide on the KuCoin exchange and its dedicated trading bot. If you are interested in using trading bot to trade cryptocurrencies, be sure to try the free KuCoin trading bot.