Binance bot: trading bot for Binance Coin by TradeSanta
Crypto trading bots are used to automate trading. They allow you to exclude the emotional component from the process, which allows you to increase the level of profit. In addition, a well-chosen strategy, together with the stop loss function, allows you to count on a stable profit.
Tradingview bot Binance is used to trade Binance Coin. This efficient software allows you to transact across multiple exchanges, not just Binance.
What is a trading bot?
BTC Bots are used for automatic trades. However, its functionality is not limited to this. The user can not only specify at what price to buy and sell assets, but also set up a much more flexible strategy in order to depend on higher profits.
The help of a bot for a trader is invaluable. This platform automatically collects information about the state of the market, evaluates the risks of transactions with a certain asset, and automatically concludes transactions.
How to start Binance Bot
To run the Binance auto trading bot from TradeSanta, follow these steps:
- Register on the TradeSanta platform.
- Connect to the exchange you want to trade on or create a new HitBTC account.
- Choose the best trading strategy.
- Customize your bot according to the chosen strategy.
BTC trading bots from the company at first sight may seem strange and complicated for beginners in crypto trading. This always happens when you decide to invest in new products. You can get acquainted with the full list of bot functions using a 3-day free trial version of the software. This way you can check if automated trading with bots is right for you.
Trading Binance Coins
As of March 2022, Binance Coin is the 4th cryptocurrency in the world by market capitalization. BNB is one of the most popular coins that is mainly traded against BTC and ETH. The cryptocurrency was created by the Binance exchange and is used as a universal medium of exchange. Therefore, it is not surprising that it is so popular among crypto traders. This is not only an effective trading tool, but also a profitable investment object.
Since the beginning of 2021, the value of BNB has increased approximately 6 times. Therefore, the coin continues to be actively traded not only on Binance, but also on other exchanges:
- HitBTC
- OKEX
- Coinbase.pro
- Bybit
- Huobi and others
You can set up automatic trading both on a desktop device and on a mobile one.
Strategies for the TradeSanta trading bot
The TradeSanta cryptobot offers several strategies for making a profit at once. This includes both short-term and long-term strategies.
The Bitcoin/Binance Coin trading robot offers the following long-term DCA strategy:
- At the first stage, a trader buys a coin when its price is on the decline.
- When the price reaches the lower limit and starts to rise, the bot makes another purchase of the asset.
- When the value of the cryptocurrency reaches a profitable level, the bot sells it.
This strategy allows you to diversify the risk if the coin does not live up to your expectations.
The short-term strategy of DCA provides for the sale of assets during the growth in their value. When a decline begins, the bot waits for a certain value level to be reached in order to start buying cryptocurrency again.
Binance trading bot app by TradeSanta is a good way to get stable passive income. The main thing is to set up the platform correctly so that the algorithm of actions is fully consistent with the chosen strategy.
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