Over the recent weeks, we have seen a few pumps here and there with some Altcoins. Bitcoin however has remained relatively stagnant. As such, why not try trading some altcoins? Now if you are like me and you may not have all the time in the week to stare at charts, do consider using Pionex.
What is Pionex?
Pionex is one of, if not the first exchange designed for bot trading. It allows you to easily create the bot using a wide array of configurations set forth. It also has what it claims to be "Binance-like liquidity". From my experience with the exchange so far, that seems to be true. Personally, I only use Grid trading which sets the bot to buy low and sell high. Pionex has its own "AI strategy" which helps you set the range and grids of the bot. Range in this case is based on the last 7 days of the pair's price action. For example. Take the Steem/Eth pair, for the last 7 days it has been ranging between approximately 0.000840 eth and 0.000955 eth. The AI would set the range of the grid to that.
For that price range, 21 grids will be used and each grid will be between 0.48% to 0.56% of profits. So, if the pair ranges, the bot will continue to buy and sell on your behalf, making you some sweet profits!
That Sounds Great! What's the catch?
Well, aside from the fact that you are leaving your crypto on an exchange and the high cost of entry for some coins, nothing really. However, you may be wondering what happens if the pair goes out of the range set by the bot. Say for example the aforementioned Steem/Eth pair soars pass 0.000955 Eth. You could wait for it to go back into the set range, or you can just shut the bot down.
However, if the pair goes below the 0.000840 range, you can of course wait for it to recover or cancel it. Personally, I would just leave it. This happened to my Atom/Eth bot and leaving it for a few days was enough for it to get back in range. Hence, as much as you are using a bot to trade, you still have to manage it.
How do you get started?
So if you are sold on this, you can click on this link or the link below to sign up. Full disclosure, that's my referral link. However, if you feel that you don't want to use it, its cool. Just google Pionex and sign up. Upon signing up, you can deposit Bitcoin, Eth or Tether to start your bot. Personally, I prefer Ethereum for the low fees, Bitcoin for the variety of coins and Tether for COMP =) . That being said, you can also start a bot on BNB pairs as well.
Once you have deposited your crypto, its time to go shopping for a bot. Currenlty, a few good pairs for ETH are ZRX, LINK, ADA and KNC. To know how much it costs, search that pair that you are interested in, click on create bot and click on grid trading as seen in the picture below.
Then click on use AI strategy and the amount required will be displayed. You can see the example in the picture below as well.
That's it! You're good to go. I hope you have found value in this and if you do have any questions, feel free to shoot me a comment below. Thanks for stopping by.
My Referral Link
https://www.pionex.com/en-US?r=mHFp2ENV