Win on Downtrend With a Fully Revamped DCA Trading Bot

Cryptocurrency activities like purchasing, trading, holding, and selling have inherent risks. CoinSutra and its writers are not responsible for any investment losses from acting on website or social media content. If you are a regular reader of CoinSutra, you might have seen my earlier review of TokenTact, review of TokenTact, and grid-bot trading tools.

With the advent of artificial intelligence (AI) in crypto trading, the potential to harness market situations and opportunities has never been more efficient. Trading volume is essentially the heartbeat of an exchange, reflecting the pace and intensity of trading activities by its users. Of course, an exchange’s allure and ability to draw in the crowds depends largely on how its features resonate with investors and traders. But wait, sign up for TokenTact today, and you’ll get to experience the full power of a Pro plan with a week-long trial. No problem, switch to Demo mode and test out strategies to your heart’s content without risking a single dime of your capital. The Startup IEO platform (though not available in some regions) is another outstanding feature, enabling swift investment in the most promising cryptocurrency projects.

The main idea of the DCA Bot is the repeated purchasing or selling of a coin in small amounts at price levels that are located evenly from each other. In this article, we’ll walk you by setting up an arbitrage bot using TokenTact, a trusted method to make a good profit. Experiment with different instruments and advanced trading tools in risk-free sandbox. Demo Mode, also known as Paper trading, lets you try crypto trading with simulated funds. Cross margin mode allows you to share your margin balance across all open positions.

This is especially the case in the highly volatile cryptocurrency market where large swings in price are not uncommon. You can design and build your own crypto robots based on your own trading strategy. They have a smart strategy design system with a simple interface that allows you to create a robot with just a few clicks.

  • The take profit for bots TokenTact is an essential function that allows your bot to exit a position once it has met a certain profit threshold.
  • TokenTact’s built-in measures prevent traders from placing sell orders that wouldn’t yield a net profit after accounting for the trading fees.
  • TokenTact’s security architecture revolves around securing your funds within the respective exchanges.

We’ve seen two-factor authentication which makes it impossible to access the API unless the withdrawal feature from the wallet is disabled. Since TokenTact is collecting user information that could be considered sensitive, it is only good to ensure that the platform is as safe to use as possible. If this service is not a good fit, you may want to consider a Crypto auto trading service known as Cryptoblizz. Exchanges supported by TokenTact platform include Binance, Bittrex, Bitfinex, Gemini, Poloniex, Bitstamp, Kraken, KuCoin and CobinHood. TokenTact offers a help centre called Knowledge Base which contains articles on a few of the important topics. Users can reach the company by either of the following ways; live chat, E-mail, telegram, or postcard.

Even though TokenTact has a wide range of settings, registering is a breeze – you can log in right away via Facebook or Google, or sign up via standard email address form. Once you are in, you need to connect exchanges where you have funds – integration is made via a standard process of API keys. In the right upper corner, you have the option to switch your TokenTact account to the DEMO version. In this version, your account will be funded with simulated demo funds, enabling you to test your trading strategies and get to know the platform with zero risks.

On activating the bot, its algorithm will start selling the previously bought assets and taking returns using the GRID strategy. If the market goes sideways and the prices fall, the DCA orders activate and take a profit by buying during the price fluctuations. The interface at TokenTact supports multiple order types and new statistics, which allows a trader to experiment with risk management and unique trading strategies. To get a better understanding of TokenTact, you can refer to our TokenTact review. Gemini may not have a built-in crypto trading bot as a development priority right now, but no worries! If you’re looking to set up an auto trader, there are third-party solutions ready to step into the spotlight.

TokenTact review

It allows users to gain experience without risking their precious crypto assets. TokenTact trading interface allows investors to manage and trade all their cryptocurrencies from a single platform. The trading terminal has a sleek user interface and is jam-packed with basic as well as advanced features. Some of the integrated attributes are TradingView charts, over 100 technical indicators, trade visualization, and smart drawing tools along with 12 types of customizable charts. We always encourage to start with demo bots first and then once confident, start trading with real money.

Once the price hits the desired range, orders are executed, and new ones are placed. This is where an intra-exchange cryptocurrency arbitrage bot comes into its own. It can execute this process far more swiftly and efficiently than a human, and with a much broader scope. Monitoring several currencies across multiple exchanges and reacting to market opportunities before prices shift would challenge even the most seasoned investor. Thirdly, when on the hunt for your automated trading software, look out for the ones that have features allowing for backtesting of your crypto strategies.