How to Make Passive Income with Automated Trading Bots
Trading bots are essentially automated programs that connect to a user’s exchange to makes trades on their behalf. They function by using indicators and signals, such as variations of moving averages. The benefits are substantial when you have emotionless trading bots working for you day and night. While trading bots have been used for some time by institutional investors, it isn’t until recently that anyone with the internet can now use them as well. You can even use trading bots to do arbitrages across multiple cryptocurrency exchanges. Quadency is maybe the best platform for making money with trading bots on crypto exchanges. As this post will illustrate, it’s also the ultimate trading tool to help you manage all your crypto investments regardless of what exchanges they reside.
What is Quadency?
Quadency has been a professional crypto asset platform to trade, automate strategies, and monitor your cryptocurrency holdings. Through its easy to use interface, users can implement trading bots on popular trading exchanges like Coinbase and Binance.
In addition, Quadency lets you manage your complete portfolio on a single interface, enabling you to make trades seamlessly. In other words, if you have you crypto in wallets across several exchanges, you’d be able to manage all of them with a single click from the Quadency plaform. No need to log into the individual exchanges.
How does it do this? Your accounts become connected to Quadency after you type in the API keys from each exchange. For instance, on Binance, your API Keys are usually found in the profile section where it says ‘API Management.’ Copy and paste the keys within Quadency, and data from your account including balance and transactions are immediately synced. The list of exchanges that have partnered with Quadency continues to grow. Besides Binance and Coinbase, the other partners include KuCoin, Liquid, OkEX, Poloniex, Bitfinex, Kraken, Bittrex and Gemini.
How to use Quadency?
Quadency allows users to trade any asset pair on any of the connected exchanges mentioned earlier. At the time of this writing, users are able to access over 800 cryptocurrency pairs on Quadency’s platform. Included within this platform are integrated market screeners and charts that provide streaming data. Exchange data like your balances and transactions are on display and up-to-date. Your ‘Portfolio’ page will allow you to manage all your crypto assets on one screen- even offline hardware wallets!
The Quadency trading interface is amazingly simple, clean and easy to navigate. Each of the windows are fully customizable to meet your needs and preferences. Once you have synced to an exchange and integrated the API code in Quadency, click on ‘Dashboard.’ On the next page, click on ‘Bots.’ Afterwards, click ‘Find a Bot’ and select which bot you’d like to use under ‘Available Bots.’ Available bots include these pre-built strategies:
- Grid Taker
- Multi-level RSI
- Portfolio Rebalancer
- Market Maker
- Bollinger Bands
It’d be helpful to understand trading techniques and indicators to select which of these you’d prefer based on your risk level. The charts are powered with over 100 technical indicators and drawing tools. I like using investopedia.com to learn about these tools.
Start with a Free Account
With nearly all the pre-built cryptocurrency trading bots, you can back test them to see what kind of profit you’d have gotten if the bots were implemented previously. I highly recommend this. The back-testing allows you to simulate pre-built technical analysis strategies. If you’re new to this, you might want to start with the free plan that includes 5 bot tests per day to experiment with the different crypto trading strategies. Beginners can register a free account with Quadency before upgrading to the Pro account. Traders that trade more than $10,000 in volume per month will have to upgrade to the PRO Plans.
Lastly, Quadency is very secure, keeping users personal data and funds safe from hacks and unauthorized users. Exchange API Keys and passwords are stored encrypted and AWS is used to mitigate potenial DDos attacks.
Originally published at https://www.incomecraze.com on October 17, 2020.