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March 31 2023 Cryptocurrency

Everything you need to know about spot grid bots

Everything you need to know about spot grid bots

The world of cryptocurrency is very exciting, changing from second to second, which is why without automation, events can become almost impossible to follow. Fortunately, the Spot Grid Bot can help you when you don't want to be sitting in front of a computer 0-24. Importantly, trading cryptocurrencies is an excellent source of passive income, but it also means that you need to do it without taking too much time out of your life.

In today's post, we're going to talk about Spot Grid bots and how we can start a Generator that works and earns us money even when we're sleeping or working our regular jobs. If you want to get started in crypto trading, don't miss this article!

Get started with automated trading!

Of course, if you're completely new to the field, it's definitely worth trying Demo Trading, where you can take your first steps into the world of crypto trading without any financial risk.

However, to be able to use the platform, it is worth getting to grips with it as much as possible, so you shouldn't miss out on the settings of the generator function, for example!

Where all the spot grid bots grow...

The Generator will create separate folders within which you will be able to bring multiple Spot Bots to life, as you will specify lanes so that the system knows when to sell and when to buy.

The basic setting is to specify whether you want to sell or buy. You can also set the starting and maximum price levels, i.e. from where and to how far it will generate the levels for you, and it will adjust the profits accordingly. 

You can also specify the quantity quoted, i.e. how much capital you want to put into a position, i.e. how much to buy for per level, and then set the corresponding sell. Here you can still choose whether you want to run the generator in demo or live mode.

In the security settings, you can set the value of how much of your capital the entire folder can use, and you can also track the increase or decrease of the price. To do this, the system can generate the zones automatically. It also includes a stop loss, which can be fixed or flat, and is used to ensure that you can sell the amount you have bought at the right time. In fact, you can even pause all the boxes and then reactivate them.

This will make a difference if the price goes out and you don't want to be stuck inside. As soon as the exchange rate recovers, you can re-arm the boxes and everything will go on its way, so technically this is a stop loss from above. 

Of course, the guide can still help you on your way, it's worth going through the suggestions carefully to find out all the essential information related to the settings.

The summary should not be missed either

Once you've completed the entire setup, you'll find a summary tab where it's definitely worth taking the time to check that you've set everything up as you originally intended.

If you feel you'd like to get started but still have questions, take a look around and you'll find the answers to all of them, whether in the knowledge base or the FAQ section, or of course you can ask us for a personal consultation!

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