Binance coin trading bot
The Binance Coin crypto trading bot is intended to make cryptocurrency trading easier and to provide individual traders an edge over one another.
Set up bot
How to launch bot for Binance coin?
Clearly, beginning something new is challenging, especially when it comes to investing money in an unknown product.
That is why we believe it is vital for you to test TradeSanta bots before you buy. Use our 3-day free trial of the Maximum package to see if trading with bots is suitable for you.
The Binance Coin crypto trading bot has a number of advantages, including but not limited to: Bots conduct buying and selling based on market calculations and analytics, and they are immune to emotional swings or exhaustion. They are also quicker than manually placing an order on the exchange.
Binance Coin (BNB) Trading
As of 29.03.2022, Binance coin is #4th in Coinmarketcap rank according to market capitalization. Binance coin (BNB) is one of the most popular coins to trade, along with Bitcoin (BTC), Ethereum (ETH) and Tether (USDT).
The coin’s market capitalization is ${71,789,462,095}. Now, with the current Binance coin (BNB) value of $434.94, you might be wondering why you should trade Binance coin (BNB) coins.
The success of Changpeng Zhao's exchange, as well as the Binance Smart Chain network’s popularity, just could not but have an impact on the Binance native cryptocurrency, known as BNB. And it did, to the point that BNB has gained more than 1,300% since the beginning of 2021.
According to The Economy Forecast Agency, BNB may see steady growth throughout 2022, and its price may double, or even triple, in the next few years, rising from $434 (as of 29.03.22) to nearly $1,300 by the end of 2023. Since Binance is doing great and continues to open new offices across the globe, we can expect BNB to stay strong as well.
Binance coin exchanges
Since Binance Coin (BNB) is one of the most popular coins on the market, it’s not hard to find an exchange where you can trade it.
Binance,
HitBTC,
OKEx,
Coinbase.Pro,
Bybit,
Huobi,
for example, allow you to trade this coin. Simply open your PC or mobile, make an account, and you're good to go.
How to choose an exchange
TradeSanta strategies for trading Binance coin
DCA strategy
When a bot uses a dollar-cost averaging strategy, it purchases (in a long strategy) or sells (in a short strategy) an asset in smaller amounts rather than all at once.
It allows you to spread the risk in case the coin price goes opposite to your expectations, also it allows you to lower the average price of entry (for long strategy) or increase the average price of selling (in short strategy) thus allowing you to be able to get the same desired profit percentage at a smaller price rebound.
For a long strategy, DCA bot first buys cryptocurrency and later sells it at a higher price.
For the short trading bot, the first order would be a sell order, and the TP order would be a buy order at a lower price. The dollar-cost averaging bot places the first buy order and extra orders if the price goes in the opposite direction of the strategy chosen.
DCA Long strategy
DCA Short strategy
Grid strategy
The GRID trading strategy, unlike most other trading strategies, works best in a market that is ranging sideways with no distinct direction. It profits from a market's price movement's highs and lows, and it works best when there is no discernible up or downtrend for a lengthy period of time. The grid strategy becomes increasingly profitable as the frequency and amplitude of price swings increase. Grid trading strategies, to put it another way, produce a grid-like formation by scheduling or setting up buy and sell orders in a predetermined price range.
Grid Long strategy
Grid Short strategy