Binance Trading Bot
PlayOnBit provides users advanced automated strategies to trade Bitcoin. What separates PlayOnBit with the rest of the competition is that we don't just create strategies, we trade Bitcoin automatically through our smart AI Enhanced trading bot. This process is secure, deploying a Binance trading bot is instant and easy. It takes only a few minutes to configure.
What Is Binance?
Founded in 2017,
Binance does not provide services to citizens of some countries, even if authenticated. It often detects user IP through bots, and millions of dollars of traders' capital are permanently blocked in an exchange. Do you know what professional traders do to solve this problem? The solution to this problem is to use bot trading. Do you know what a trading bot is and how it can help you use Binance? Stay tuned.
Why does Binance restrict accounts?
Binance Exchange was founded many years ago by a Chinese man named Chang Peng Zhao. The exchange
was initially based in China, but pressures and restrictions imposed by the Chinese government on
the exchange owners led them to travel to countries such as Malta and use teams based in different
countries to develop and manage the exchange.
Binance provides excellent facilities for its users. Many cryptocurrencies are listed in this exchange, and it is possible to pre-sale new coins (IDO). It is also possible to use leverage and futures trading in this exchange, and you can easily stake your crypto there. These are just a few of the unique features of this reputable exchange.
What sets Binance apart from other exchanges in the world is not just its trading volume and services. Binance seeks to expand its activities legally and to cooperate with governments. Governments concerned about the use of crypto for money laundering and terrorism are asking Binance to ensure the true identity of exchange users (KYC).
Binance has banned many users in countries such as North Korea, Iran, and Syria at the request of governments. The website of this exchange does not provide any service for the IP of these countries, and using the IP of other nations is only a temporary solution. Binance does not offer services in many other countries, such as China, Japan, the United Kingdom, South Korea, Malaysia, and Singapore. American users can only use the Binance America service. It has led many users to use other exchanges. However, there is still an easy way to use Binance: buying a Trading Bot.
What is a trading bot, and how does it work?
A trading bot is software written by computer programmers to trade without humans. Because the code
runs on a computer without human intervention, it works faster and more accurately than humans.
The trading bot may seem like a complicated concept to many people at first, but it is easy to use with a few clicks. If you are familiar with the way trading bot works, you will better understand how money-making this tool is.
The trading bot first predicts the price of a cryptocurrency. Complicated algorithms do this, and almost every bot has its unique way of predicting price. In the next step, the trading bot identifies the amount of risk and decides how much capital to use in the trade. The more advanced the bot, the more accurately it performs these processes. AI trading bots can do this better because they use advanced algorithms such as neural networks. A neural network is an artificial intelligence algorithm that will get better results the more it is run. In other words, an AI bot will have fewer errors with each trade. Some bots also give you the option to do the risking yourself.
The next step is to buy crypto. The Trading bot makes buy/sell/short/long order without the need for a human. This step is actually where you need an exchange. The trading bot does not work without an exchange and is a tool to connect to exchange. You can use the bot features to remove the restrictions on using Binance Exchange.
How can bot Trading help us use Binance?
Binance Exchange is equipped with tools that constantly check users' information. One of the most
critical user characteristics that Binance is sensitive to is where people live. As you know, there
is a lot of information through using the internet that tracks where users live, and the most
important one is people's IP.
Binance has banned users of countries that typically use software that changes their IP. However; It only takes a few seconds for Binance to detect your original IP and block your capital forever after disconnecting your VPN.
A Binance trading bot can solve such a problem for you. Binance has made it possible to connect trading bots. You can connect your bot to Binance Exchange for a few clicks. Since you will not do anything manually, you will not need to connect to your exchange account permanently. Binance trading bot automatically issues a buy and sell signal and proceeds to buy and sell.
Binance detection tools can not identify your real IP, and your capital will not be blocked by exchange because they want the IP of the bot server. You can easily use the internet with real IP and make a profit.
Get to Know our AI Enhanced Binance Trading Bot
PlayOnBit provides easy-to-use, customizable but also economical trading bots. Whether an experienced trader or not, we Automatically maximize your profit along minimising your loss. Take advantage from the unique features provided by PlayOnBit, the likes of which you have never seen offered by any other platform such as Binance and/or Binance Futures. We have developed a cryptocurrency trading platform that supports both Binance and BitMEX exchanges. By using the API key provided by Binance, you are able to use our AI Enhanced Bot which has been trained by the most sophisticated strategies. You can easily track and check your Bot's performance at anytime. No need for adding complex algorithms; unlike other platforms, we will customize your bot in whatever way you feel best.
What is the difference between a trading bot and a trade assistant?
Trade Assistant can help with setting up stop-loss, take-profit, and closing positions under certain conditions. However, the trade assistant can not analyze the market and set orders. It is what bot trading does. A trading bot can do the job of a trading assistant well, analyze the market, and open buy/sell positions in an exchange.
What are the benefits of using a trading bot?
Using bot trading will make you trade faster, and your accuracy will be much higher. Now, if bot trading has unique features such as artificial intelligence, it will make your trade significantly profitable.
Can a trading bot be profitable?
If you use a suitable trading bot, you can make a lot of money. However, you need to know what features the trading bot has. A profitable bot can connect to various IPAs, analyze cryptocurrency prices, identify opportunities using technical analysis, and learn from its mistakes. Artificial intelligence trading can do this in the fastest possible time and is profitable.
How can I check and see the performance of my bot?
You can do so in your dashboard, after you have logged in.
How much can a trading bot make?
It depends on several things, such as the initial capital, market conditions, bot strategy, take-profit set in the bot, and the amount of the exchange fee. The more money you have, the better the market conditions are, the better the bot strategy works, the better your take-profit is chosen, and the lower the exchange fee, the higher your profit.
Do any trading bots work?
Each bot can have an error because not all trades can be profitable. Even the most professional traders make mistakes. However, a bot that can not repeat its mistakes using sciences such as artificial intelligence like humans can trade well.
How do crypto bots make money?
A crypto trading bot first connects to different APIs and reads and stores prices. It analyzes these prices with technical and fundamental analysis tools and selects the best coin and the best entry price. Then it sets the appropriate stop-loss, takes profit, and sets the exchange order. There is a particular type of trading bot that uses artificial intelligence.
What are the Risks of Using PlayOnBit's Binance Trading Bot?
Our platform does not add any risks or potential security breaches to your existing trading set-up. Binance API keys do not read user security data, only your trading data. Make sure to disable funds withdrawal option when you are generating an API key, for an added layer of security.
What are the benefits of AI trading bots?
Using artificial intelligence bots has many advantages over using other trading bots. Artificial intelligence and learning allow your software to learn what kind of market to function in gradually. Some bots do not work well in the red market where prices are falling, and others cannot take a profit in the range markets. The artificial intelligence bot measures its failure rate after each trade and evaluates whether this change has positively affected profitability by changing various factors. It is what a human being does when trading and leads to profitability.
How much trading knowledge need to use a trading bot?
You do not need specialized knowledge to use a trading bot. You have to connect the trading bot to the BitMEX exchange and then turn it on. The bot will trade for you automatically. However, the more knowledge you have about trading, financial markets, and technical analysis, the better your results. For example, BitMEX bot trading has many capabilities to change the number of take-profits and stop-losses with your technical knowledge.
How do I trade crypto daily?
You have to choose a crypto every day, find the right strategy, set stop/loss, and take profit. Daily trading is difficult. Performing repetitive tasks and analysis in a 24/7 market is time-consuming. However, the crypto market also has features that make it even harder. This market fluctuates a lot, making trading even more difficult. Using tools like a trading bot can make trading significantly more accessible for you.
Are there any Free Plans Available?
All users automatically receive the Bronze plan, which is completely free, after signing up!
Are my funds secure when using the bot?
A trading bot will be connected to your exchange account to set buy and sale orders. This bot has no ability to withdraw money from the exchange. Exchanges like BitMEX ask to withdraw money from an exchange, such as two-step verification and approval. So using trading bot is safe and does not pose any risk to your money.
Which strategies does a trading bot use?
The stronger and more advanced a bot is, the more strategies it can use. The profitability of bots is related to this issue. For example, some strategies can not be used in bear markets, and some are suitable for range or bull markets. It is especially important in the bear market. A trading bot that can choose the best strategy using artificial intelligence and machine learning is the best trading bot.
How to make money in market decline?
Using BitMEX trading bot, you can get long positions in the bearish market with specified stop-losses. By analyzing the market, the bot determines which coin to buy on the red market, at what price to put stop-loss and take-profit, and automatically closes the position in case of emergency. Since the short position is the opposite of the market, the possibility of making error is high, and using a bot will help you a lot.
How much money do I need to use a trading bot?
There is no limit to the use of bot trading, and you can start your trade for greater than $10. However, try to start your trading with little money and gradually increase it as the performance of BitMEX AI bot will improve progressively with high trades.
Are crypto trading bots fully automated?
Yes. Not all trading bats are automatic, and depending on the structure, different parts of trading are done automatically, and some tasks may be manual. However, the trading bot job is to automate trading processes. More advanced bots also automatically analyze and record sales orders, but not all bots have this capability. The more advanced and automated bot trading is, the more influential the bot is likely to be and the more profit you can make.
Does the trading bot take a commission on orders?
Once you have purchased the bot, you will not pay any additional fees per trade. However, trading in any exchange has a cost for you, and this cost is paid to the exchange, not to bot sellers.
How to connect a cryptocurrency exchange?
To connect a BitMEX bot to an exchange, you must create an account on the exchange. You will then receive an API KEY within the Exchange account and paste it into the trading bot panel. The BitMEX bot connects to exchange, and you can quickly turn on the bot and trade. Trades are made automatically, and you do not need to set buy and sell orders or perform analysis. Just turn the bot on and off. However, there are also stop-loss and take-profit settings and several other elements in the bot that are optional.
How do I make money in the crypto red market?
Holding is not profitable in the Bearish market, but you can profit by trading. The cryptocurrency market is a two-sided market that allows you to use the short position. In this type of trading, you first sell your fund to an exchange, and when the price goes down, you buy more. Such a position is called shorts, and in the falling market can be profitable for you. The amount of this profit is no different from the opposite (buying and selling at a higher price), and both are equally profitable. However, you can also leverage your shorts position and multiply your profit. This type of trading requires more complex analysis, and it is better to use a trading bot to do it.
What should I have to use a trading bot?
You need some money and an exchange account to use a trading bot to profit. After buying the BitMEX trading bot, you must register in an exchange such as BitMEX. Registration in the exchange is free. Just connect the bot to an exchange and start trading.
Can I trade short/long by bot trading?
Absolutely Yes. Intelligent bots like the BitMEX trading bot are designed for this purpose so that you can open short and long orders. Because Shorts and Long Orders require more sophisticated analysis than Spot Market, you will need to use more. With the bot, you no longer need to analyze multiple cryptos and look at the indicator chart for hours. A Trading bot will analyze for you in a few seconds and record the order of shorts and longs.
How much time does it take to trading bot make money?
It depends on several factors. Usually, artificial intelligence bot performs better by making a lot of trades. This bot looks at the number of errors after each trade and then changes the various factors affecting the trade to reduce this failure rate. However, bot trading can be profitable from the very first trade.
Can trading bots make passive income?
Since trading bot is much faster than humans, it can make a passive profit for you by doing a large number of trades in a short period. Especially in the red markets, using passive income, which is less risky, will be very profitable.
Which cryptocurrencies can I trade by a trading bot?
There are no restrictions in this regard. You can trade on any crypto you want. However, exchange offices have limitations. Each exchange provides you with a limited amount of cryptocurrencies for trading. For example, to use the BitMEX trading bot, you can only trade those cryptocurrencies listed in an exchange.
How does a trading bot make money in a bearish market?
A Trading bot can easily take a profit for you by open a short position in the bearish market. Of course, this requires a lot of technical analysis and experience, and small mistakes can destroy your capital and become liquid. However, the trading bot can take a short position for you due to the brief analysis it performs. The amount of trading error using bot trading on the red market is lower, and your chances of being liquidated are significantly reduced.
Are crypto bots legal?
Using a trading bot is completely legal, and there is no risk in using it. These bots only buy and sell and do not harm the exchange or your money. Many major exchanges around the world, such as BitMEX and Binance, recommend traders to use trading bot, and they make it possible to connect different bots to the . By connecting these trading bots to an exchange office, you can automate trading without taking time, and you can make a significant profit.