Cryptobot KuCoin: features and benefits of the tool
KuCoin is a well-thought-out and easy-to-use crypto exchange that allows you to conduct purchase, sale and exchange transactions with different types of coins. It is not surprising that the platform has the ability to connect a trading bot that automates the process of finding the right deal as much as possible, as well as you regularly monitor changes that occur in the financial market.
Let’s see how the KuCoin bot works and how efficient and secure it can be.
Cryptobot for KuCoin: overview and features
Cryptocurrency trading is a complex process, if only because of the high volatility of coins. Their rate can change unexpectedly and not always in a favorable direction. Cryptobots are a great opportunity for everyone who values their time and does not want to constantly monitor whether the Bitcoin or Ethereum rate has fallen.
KuCoin Bot is an automated software that was created using artificial intelligence and machine learning technology. Yes, the bot involves setting up the desired parameters. However, in the future, it works independently, freeing up time and effort for you.
Each bot has its own set of features and tools that you can customize as needed. Everything will depend on the purpose of your stay on KuCoin, trading volume, etc.
How does cryptobot work on KuCoin?
The KuCoin exchange supports dozens of different coins, and its bot has access to each of them. Today, the site has more than 100 types of cryptocurrencies, which allows you to find the most profitable and suitable option. That is, it is not necessary to buy the most popular and expensive Bitcoin, you can try to invest in cheaper coins in order to understand how the whole system works.
KuCoin Bot works from a special application that is installed on a mobile phone. Once launched and configured, you can start investing and collaborating with the software. Yes, yes, it is to cooperate: the bot requires regular checking of actions and reconfiguration if necessary.
If you study all the KuCoin bot reviews, it becomes clear that the bot has all the basic functions for successful crypto trading. Among the main advantages of the software:
- You can work with it completely free of charge. The commission will be charged only by the KuCoin platform.
- Special security mechanics and protection from hackers.
- The presence of all the main functions, the number of which continues to expand.
Is KuCoin’s Crypto Bot so Safe?
In 2020, the KuCoin platform got into a serious scandal. It was associated with a large loss of crypto assets. The company’s rating began to fall rapidly, and reviews began to appear on various forums and websites in which people talked about the loss of money from their account.
What then happened? Although the system was described as secure and hacker-proof, it failed to resist hacking. In September 2020, almost $300 million was stolen from exchange accounts. This negatively impacted KuCoin’s reputation and led the company to become even more concerned about customer safety ever since.
In general, bots for KuCoin have all the necessary functions, both for teaching beginners in the field of cryptocurrency, and for professional investors. Moreover, the functionality of the program is expanding and improving. Its important difference lies in the fact that the bot belongs to the KuCoin platform – you do`nt need to search and download it additionally. The main thing is to set the right settings in order to get the maximum benefit from buying or selling cryptocurrency.