You can also create a cryptocurrency index comprised of the top N coins. Use advanced market metrics to construct dynamic portfolios. Select any coins, choose a weighting strategy, and see how it performed in the past. Staking coins on KuCoin is a great way for users to make a passive income, as they reap the benefits of joining the KuCoin
community. Those that hodl more than six KCS also have the opportunity to earn a daily bonus. The strategy to get very profitable bots, although it sounds very simple, is to copy the bots of the people who have the best performing bots.
But not only go and copy their bot, but see the configuration and understand it to be able to apply it to our bot. Its Trading Bot uses information and analytics about the market in addition to other tools to analyze prices and forecasts . After creating an account and making a deposit, users can enter specific trading parameters and let the bot take over. In addition to the users’ preferences, the bot then uses this combination of information to place buy and sell orders as the price moves.
Trading Bot helps crypto traders make money while they sleep by recovering invested money as well as making pure profit. In this guide, we discuss tips for record keeping and tax reporting for your automated crypto trading strategy. Crypto trading bots like Bitsgap and similar platforms designed to automate your trading strategy have grown in popularity as the cryptocurrency market has matured. Tools like these can be extremely effective for compounding your crypto trade bot
gains; however, tax reporting can become tedious — especially for traders with dozens, hundreds, or thousands of trades across multiple exchanges.
KuCoin has a tendency to list small-cap cryptocurrencies that have huge growth potential. Additionally, it offers access to a large selection of tokens, including lesser-known coins. Moreover, it has one of the most generous profit-sharing incentives - up to 90% of trading fees are given back to KCS holders . HodlBot automatically rebalances your portfolio to keep it on track, saving you time. Portfolio rebalances generally lead to risk mitigation and improved returns.
When the market shifts, a portfolio will drift away from its target allocation. Prizes will include rebate coupons, newcomer benefits, and others. Limited edition NFTs, dubbed Lumens, will also be on offer, giving users access to 10,000 unique bots with a variety of distinctive features and appearances. We built the HODL indices for users who want to diversify across the market instead of picking individual coins. Diversification mitigates risk and improves returns.
Studies found that 95% of active traders fail to beat the index. KuCoin is a good place to start trading cryptocurrency for beginners. There are tons of coins available to buy, sell, Kucoin and trade. Investors, who are looking for more options may also check out our guide on how to use Binance. Keep in mind that there are minimum capital requirements, so make sure that you have more than the minimum amount required to create it. With this, you will have a bot ready and with a high yield that has generated in the last 7 days.