Here is a cryptocurrency exchange that holds a record of over $83 million daily trading volume and is spread over hundreds of countries worldwide. Trading in such a competitive platform can be a daunting task if you are not on your toes always.
But, can you always keep a check on the latest market prices and make the best investments all the time? If not, then a Poloniex trading bot is what you need. Did you know that various trading bots do about 70% of the transactions in the stock market?
In a marketplace with a huge number of liquidity pools, over 350 cryptocurrencies, and millions of users competing, you only need the best Poloniex lending bot to do the job for you. There are many trading bots in the market today, but choosing the best one for Poloniex is paramount.
These bots come with many features and abilities, most of them well-equipped to handle the competitive Poloniex crypto market meticulously. You can choose the best simple trading bots to create trading strategies that are some of the best and will give you great ROI.
What Is A Poloniex Trading Bot?
A Poloniex trading bot is a computer program that is designed to help you buy and sell cryptocurrencies at the most primetime on Poloniex. It allows crypto trading with minimum human intervention.
These trading bots will trade either one or more cryptocurrencies on multiple platforms on behalf of the owner. You can even choose to deploy one trading bot for one platform, such as Poloniex.
A trading bot on Poloniex aims to amplify your trading profits by applying automated trading strategies best suited for a specific time and specific crypto asset.
Why Get A Trading Bot For Poloniex?
An automated trading bot on Poloniex will help you gain massive profits from the crypto trading platform. In big exchange platforms like Poloniex, the prices can quickly become very competitive, and it is only obvious that traders pluck the fruit when it’s ripe.
If you want that, then you need to have the best trading bot for Poloniex connected to your account. A Poloniex trading bot will help your trading strategies in the following ways:
Speeding up the trading process
It is next to impossible to analyze several trading pairs in the market and choose the best one at the same time. But, this task is easily accomplished if you have a trading bot installed. The crypto bots will be able to open many trades and choose the best at that moment.
Automated trading pairs
Best trading bots for Poloniex will come equipped with features such as a volatility analyzer. Such an analyzer for Poloniex will allow the bot to automatically choose the best trading pairs in terms of volatility, and that can increase your profitable trades significantly.
The best part about using trading bots is that they will analyze the market and assess the potential risks of an investment. You will have to set a few parameters based on which the bot will assess the risk and make an investment that does not fail.
When you use a Poloniex trading bot, the bot will use Tradingview signals to execute strategies and use it for trading profitable trading pairs.
Record and store data
If you choose an efficient bot, then you will be able to track all information around your trade over the last 60 days. For example, the bot will keep a history of the price changes of all trading pairs on Poloniex, along with the movement of the trading pairs in the last few months.
You can change the settings of the date and time for the bot by going to the settings section. Such a record enables you to keep track of your bot’s actions and your settings so that you can rectify them in the near future.
How To Run A Poloniex API Bot
To run the Poloniex API bot, you need to first create an API key and then integrate your account with any trading bot. Here’s how you can create a Poloniex API key.
- Login to your Poloniex account and click on the “wrench” icon located in the top right corner next to “Balances” and “orders.”
- Choose “API Keys” from the drop-down menu.
- Once inside the API keys page, click on “Create New Key.” Make sure that the API keys are enabled in your account.
- Enter your six-digit Google Authenticator code and click “Confirm.”
- A confirmation e-mail will be sent to your E-mail address. Click on the link sent, and it’ll redirect you to your new API key page with the new API key.
Now that your API key is generated follow the steps to integrate a trading bot into your account.
Go to any of the trading bot websites from where you wish to choose the bot. In this example, we have selected Coinigy, but the process is the same for other bots too.
- Login to your Coinigy account and click on “Accounts” on the top menu bar.
- Choose “Add New Exchange Account” and then select “Poloniex” from the list.
- Enter the details such as an account nickname, the exchange type, and your Poloniex API key and secret key.
- Copy-paste the keys from your Poloniex account and paste it here.
- Click “confirm” and have successfully integrated a trading bot to your Poloniex account.
Which Are The Best Trading Bots For Poloniex In The Market Currently?
There are many crypto trading bots in the market these days, but some of them stand out for their efficiency and reliability. A few of them are RevenueBOT, which functions from the cloud storage, so users don’t have to keep their computer turned on 24/7, then Coinrule, which is a great option for beginners since it’s user-friendly. Along with these, there are a few others, such as Trality and Cryptohopper.
Poloniex Trading Bots FAQ
Some of the best Poloniex trading bots are Coinrule, Trality, RevenueBOT, and more.
Trading bots for Poloniex are specially designed to help Poloneix users get the best out of the exchange platform and gain great returns. The setup is easy and won’t take more than a few minutes. If you are still unsure if Poloniex is the exchange for you, feel free to read our full Poloniex review to make an informed decision. Remember to grab a Poloniex referral code, should you decide to sign up to the exchange.