If you have ever had anything to do with the cryptocurrency trade, you probably already heard about Kucoin. According to all available data, it is currently one of the most popular exchanges out there. Its 24-hour trading volume currently exceeds $3 billion, and it has more than five million users in more than 100 countries. And, since Kucoin’s expansion was seemingly unstoppable for quite a while, it’s not such a big surprise that they decided to come up with their trading bot as well.

From the perspective of an exchange, this is always a good move. No matter how good the bot is, it will eventually increase the overall traffic on the platform. But, how useful will it be for an average trader? Is it better or worse than most of its competition? The answers to these and many other interesting questions lie in front of you. So read on! 

The Kucoin bot first saw the light of day in early 2021, and at the time, it had only three basic features. Over the next few months, the bot has undergone slight modifications, and today it has six features. They are as follows: 

When it comes to cryptocurrencies, the bot supports pretty much all the coins that the platform itself supports. According to the latest assessments, there are more than 800 coins available on the exchange. Starting the bot isn’t too difficult, especially if we have in mind that it supports only the features that were already available on Kucoin’s website. The only difference is that the bot is available only inside the mobile app. So all you have to do is to download it, run it, and your investing adventure may begin. 

Since the bot has fairly recently left the development stage, it is still free to use. The layout of the app is rather simple, and even beginners shouldn’t have any problems navigating it. The fact that it is only several months old, however, means that changes and updates are very likely in the next few months. The only fees you will have to pay are the ones that are already charged by the Kucion exchange. 

You should, however, keep in mind that the bot is available only on Kucoin’s platform, and you won’t be able to use it on other exchanges. Unlike some other, more sophisticated crypto trade assistants, Kucoin’s bot is meant for mass usage, and the price of its simplicity is the lack of more complex customizing options. And, if something is perfect for rookies and newcomers, it is usually frowned upon by more experienced traders. 

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Diversifying your sources of income is one of the first stops on the road to financial independence. If you manage to earn passive income from various sources, you’ll be more financially resilient, and market crises and fluctuations won’t cause that much trouble. Kucoin’s bot is a perfect source of passive income. As soon as you set it up, the bot will do the work for you. From there on, it all depends on the behavior of the market. 

In short, the fees you have to count on with the bot are the same you would otherwise have to pay on the Kucoin’s platform. The good thing is that Kucoin organizes frequent promotional campaigns during which it offers special discounts and trading free rebate coupons to its most active users. If you regularly check the news on Kucoin’s website, you might come across some rather lucrative offers. 

You are limited to one Kucoin bot application per device. However, if you know what you are doing and if you set it properly, one will be more than enough. Should you decide to ask around and see what the online community has to say about the bot, you might find some rather strange and contradictory reviews.

Namely, on platforms such as Telegram, Reddit, and Trustpilot, there are many negative reviews of the bot. All things considered, the great majority of negative experiences are caused primarily by a lack of knowledge about crypto trading. Quite a significant number of users engage in trading without previously learning all the basic rules and concepts. 

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In general, Kucoin’s trading bot can be described as reliable. Just like any other trading bot, it does what it’s told. Its performance, therefore, depends primarily on the settings you choose and on the movements of the market during the chosen period.

As we already mentioned, the bot is made for traders who don’t have much experience, and it doesn’t support certain complex settings common for more sophisticated bots. 

Yes, Kucoin has a trading bot that’s perfect for people who are just beginning their trading careers. At the moment, it has six features including classic grid, futures grid, DCA, margin grid, infinity grid, and dynamic rebalancing. 

Kucoin’s trading bot behaves in accordance with the settings you choose. The strategy you choose will make the difference between losing money and making a profit. The biggest advantage of having a trading bot is the fact that you can participate in trade around the clock.

Yes, it is possible to lose money with trading bots. The outcome of every bot’s trade depends solely on the settings you choose and on the movements of the market. 

When setting up your trading bot, you can choose any price range you want. Over time, you will figure out which price range suits your needs the best. 

The outcome of every trading bot’s trade depends solely on the settings you choose and on the volatility of the market during the given period. It is, therefore, very difficult to predict what strategy will be the most successful. Here is one interesting strategy you can try out:

First make sure you are using Coin/BTC pair and NOT Coin/USDT pair. Don’t want to go to much in depth but pretty much with Coin/BTC you don’t have as much impermanent loss and you increase your BTC amount which is what matters as if you have more BTC you have more USDT.

On average 1$ today is worth less than 1$ next month and 1 BTC today is worth more than 1 BTC next month.

Secondly for choosing a pair, go to grid bot, click BTC and then click volatility (from highest to lowest). After that look for a coin that hasn’t had a crazy price action like +/- 30%. You will be looking for a coin with less than +10%, preferably +5%. Then use AI parameters and decrease the number of placed orders until the profit per grid is at least 0.5%.

Thirdly close the grid bot when either:

The volatility is clutch for the bots to truly shine. Running one in a ranging trend isn’t going to do the same.

The post Kucoin Trading Bot Review [2022] – Minimum Investment, Profitability, Results appeared first on CaptainAltcoin.

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