You are reading this Kucoin trading bot review probably because you are a cryptocurrency trading enthusiast and want to figure out how to simplify your trading process.
The good news is that this article comprises everything you should learn about the Kucoin trading bot.
Introduction to KuCoin
Michael Gan and Eric Don created KuCoin, a major cryptocurrency exchange, in Seychelles in 2017. The founders of Ant Financial and iBox PAY have worked in the financial sector.
They have gained years of experience prior to the launch of their new company. The goal of KuCoin is to make digital cash accessible to everyone throughout the world.
To date, KuCoin has over 10 million registered users and operates in 200+ countries. Investors can choose from over 500 different cryptocurrencies that are offered on the platform.
If you want to make money with your cryptocurrency, you can invest on the platform to do so. As an additional trading option, KuCoin allows for P2P transactions as well as margin and futures trades.
Introduction to KuCoin Trading Bot
Sitting at a computer and poring over cryptocurrency charts all day isn’t conducive to making money. Crypto trading bots, on the other hand, have eliminated this issue.
Now that the bot has been set up, the investors can leisurely enjoy the fruits of their labor. Automated trading bots use artificial intelligence along with a smart algorithm to choose the best time to trade.
In early 2021, KuCoin made use of this new feature by launching its own trading bot. It didn’t have all the functions of a comprehensive trading bot when it was introduced.
However, it has evolved over time. As of this writing, KuCoin has five trading techniques available. Also, they claim to introduce more features in the future.
Kucoin Trading Bot Review: Main Features
Mentioned below are the main features associated with the Kucoin trading bot.
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● Mobile Compatibility
In order to use this trading bot, you’ll need to have the mobile app installed. In addition, the KuCoin app offers nearly all of the same functionality as the website does.
With features like a floating panel and a dynamic user interface, it appears different from other options.
The bot is compatible with both iOS and Android devices. Moreover, KuCoin members can access a telegram group where they may share ideas and trade techniques with one another.
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● Highly Versatile
The bot’s interface is simple and easy to use. For now, things are as they are. The future for the bot is difficult to predict because it’s continuously coming up with many new features.
Due to the fact that KuCoin already charges fees, there will be no additional expenditures.
If you’re looking for a trading bot with a wide range of capabilities, KuCoin doesn’t provide much flexibility.
Even novice day traders may benefit from simple features that are easy to understand. Individuals who want to get the most out of their automated trading systems can still find alternatives.
● Excellent Security Features
Currently, KuCoin has an excellent reputation in the cryptocurrency sector. Using kucoin’s trading bot in a live trading ecosystem is completely safe & secure. Using KuCoin for the bot eliminates the need for any API keys at all.
This technology has been used by over 2.5m traders throughout the world since its inception. It’s also legal and simple to use.
Still, trading bots cannot promise that your funds will be totally shielded from potential losses. If you’re going to invest, you are supposed to do so only with money you are prepared to lose.
● Customer Support
The KuCoin trading bot has a dedicated support section. Trading Bot may be accessed from Help Center simply by clicking on a button. Here you’ll find articles along with an FAQ that should be able to address most of your queries.
If you have further questions or issues, you may open a ticket. You are supposed to include any pertinent screenshots or documentation in this case to support your case.
Also, you should provide a detailed description of the problem. An answer from the customer service team should arrive within one week.
● It is Free to Use
An important aspect we should mention in this Kucoin trading bot review is that it is free. Compared to paid services, this is a very attractive feature.
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● Up to 10 Bots Simultaneously
You can add versatility to your income by using 10 bots simultaneously.
This allows you to concurrently trade in several marketplaces while minimizing your risk by dispersing your funds.
Five Strategies You Can Use with the KuCoin Trading Bot
In this section of our Kucoin trading bot review, let’s learn about the techniques you can use. There are five of them.
01. Spot Grid Strategy
This specific strategy is used by traders who seek to exploit high market volatility. When it comes to buying and selling at the same time, it does it at a lower cost.
The GRID, on the other hand, restricted trading to the spot market. While KuCoin has its own native grid bot, you may want to look into some other options.
02. Futures Grid
When working on the upcoming grid, it was decided to give the grid bot a modern facelift. When investing in futures, it uses the approach called “sell high and buy short.”
With the high leverage associated with futures markets, employing this bot in turbulent market conditions carries significant risk.
03. Smart Rebalance
This is another smart, results-oriented strategy for a pretty long time.
With this strategy, automated systems sell and buy assets to bring a good balance to your portfolio.
In dollar-cost averaging or DCA, assets are split and invested according to predefined time cycles by computer algorithms.
In the long haul, they help to reduce the negative consequences of price fluctuations.
05. Infinity Grid
This strategy will keep your funds within a predefined price range (defined by you).
Pros and Cons
In this section of our Kucoin trading bot review, the pros and cons are listed briefly.
|No requirement of 3rd party tools||Requires a higher deposit limit|
|10 bots simultaneously||Can trade with only one trading strategy|
|Strategies are offered for free|
|Supports a wide array of coins|
Using KuCoin Trading Bot
Well, if you are a novice, you might be wondering how to use this tool.
Mentioned below are the steps you should follow.
Step 01: Choose a Strategy Along with a Trading Pair
It is a smart decision to review all the strategies that are mentioned above before choosing one. That should be considered the first step.
Step 02: Fund the Account
Deposit funds into your KuCoin account after choosing your strategy and trading pair. Your choice of trading strategy and method of depositing necessitate depositing the coin you intend to utilize to trade.
Depending on your preferences, you can fund a trading wallet with Bitcoin or Ethereum. Let’s assume that you want to move money between your primary and trading accounts.
In that case, you may do so by tapping on the button labeled “transfer.”
Step 03: Define an Amount to Trade
Now, you should define an amount (crypto), so you can get the transaction done. After determining that, be sure to hit “Confirm.”
That’s basically about using the Kucoin trading bot. As per our Kucoin trading bot review, you can notice how convenient it is.
Using 3rd Party Bots for Trading in KuCoin
Assume that you’re an experienced trader who is looking to profit from sophisticated information; KuCoin isn’t the best alternative.
If so, to deal with increasing complexity, the standard bot introduced by KuCoin is still in its infancy. Well, it requires a lot of work.
If you want to trade on KuCoin, these are the finest possibilities for you.
Option 01: Altrady
Altrady can be rated as an exceptionally advanced platform. That is because of its ability to implement 17 exchanges, like ByBit, FTX, Binance, KuCoin, and so on.
It’s built for traders by traders and includes advanced trading tools like OCO, Portfolio Management, Trailing Stop orders, etc.
Option 02: CryptoHopper
The next alternative in our Kucoin trading bot review is CryptoHopper. CryptoHopper offers exchange arbitrage, trading bots, back-testing, copy trading, strategy formulation, and so on.
The site has trading bots for Telegram crypto signals. CryptoHopper’s concept also includes MarketPlace.
Aspects like the Arbitrage tool, Strategy builder, and Market-Making bot can be found on the site. A 3rd-party Marketplace offers CryptoHopper services, including trading methods and even templates, as well as alerts and applications.
Ability to Test It Without Using Actual Money
Telegram users can use the CryptoHopper bot. The bot can also automate the trade based on crypto signals. CryptoHopper’s paper trading mode lets you test trading techniques and bots without actual money.
The platform has four subscription tiers. Explorer provides a free trial period. You will be able to save some money by going yearly instead of monthly.
In fact, the system has been up for over three years with no noticeable difficulties. A different trading exchange is suggested, as CryptoHopper does use API keys and can’t make withdrawals.
Pros and Cons of CryptoHopper
|User-interface for beginners||No customer support over the phone|
|Excellent set of features||A monthly subscription is required for a fully-featured function|
|Sophisticated mobile app||Doesn’t allow a day trading feature|
|No hidden fees||No advanced trading features|
Option 03: Bitsgap
Here’s the 3rd alternative you may be able to consider instead of the Kucoin trading bot. Bitsgap is indeed a free trading bot. Twenty-five trading platforms are supported (including Binance and Poloniex).
Almost all of them are available for trading. It is possible to check out Bitsgap’s bots in trial mode before spending real money.
Bitsgap offers a low-risk Futures bot. This bot is now only featured on Binance. However, the developer wants to add other exchanges soon.
Safer Than Many Other Bots
A Demo version, a trading interface, and a bot for Grid trading are platform essentials. Bitsgap Futures, a new bot, offers a safer approach to making small gains in the futures market.
The platform aspires to host plenty of exchanges. Bitsgap’s trading signals are available to consumers. You can search for any cryptocurrency or even categorize them by asset type or trading platform.
Your funds are stored on the trading platform’s servers. Bitsgap requires API keys to withdraw bitcoins on your side. Bitsgap suggests 2FA if you perform too many erroneous logins, or your profile will be deactivated.
Pros and Cons of Bitsgap
|Users are offered arbitrage||No mobile app|
|Crypto signals are offered||Not that friendly to new users|
Option 04: Mudrex
Mudrex’s platform features 10,000 traders and 200 indicators. Mudrex works with Coinbase Pro and Binance. Mudrex creates, tests, and implements trading strategies. Publishing bundles through this site can earn you money as well.
The higher Mudrex’s Performance rating, the better its risk/reward plan. Mudrex Protect will refund your subscription if the bot loses money. Trading strategies can be dragged and dropped instead of written.
The free plan gives you room to experiment. Optional 19 USD monthly premium plan. You can cancel your subscription after three months for free.
Paying the monthly fees makes the platform risk-free. Mudrex protects personal data using bank-level AES-256. All API communications are protected using TLS 1.2 and SSL to protect your data.
Pros and Cons of Mudrex
|Drag and drop interface||Loading takes some time|
|The website is friendly for beginners||The mobile app isn’t fully featured|
In conclusion, the KuCoin Trading Bot can be a handy tool for both beginner and experienced traders in the cryptocurrency world. Its diverse features and strategies, combined with its user-friendly interface, make it an attractive option. However, as always, due diligence is vital in deciding if this is the right tool for you.
Frequently Asked Questions (FAQs)
1. Is the KuCoin Trading Bot free?
Yes, the KuCoin Trading Bot is completely free to use.
2. What kind of trading strategies does the KuCoin Trading Bot support?
The bot supports multiple strategies, including spot trading, futures trading, and DCA.
3. Can the KuCoin Trading Bot trade 24/7?
Absolutely! The bot can execute trades round the clock.
4. Are there any risks associated with using the KuCoin Trading Bot?
While the bot has numerous benefits, risks like market volatility and system glitches do exist. Hence, careful monitoring is recommended.
5. How user-friendly is the KuCoin Trading Bot?
The bot is designed to be user-friendly, making it suitable for both beginners and experienced traders.