Cryptocurrency trading bots are trending and a super hot topic nowadays, and for good reason.
Novice and seasoned traders alike use trading bots to help buy and sell their cryptocurrencies every day to maximize their profits and for the ability to keep trading even when they cannot be at their computers or devices.
We can’t imagine any trader not wanting a piece of this action. One of the most important things you need to know is that you must be wise and informed so that you use a reputable exchange.
By not ensuring that you are using a reputable tool for your trades, you are exposing your digital assets to the risk of being at the mercy of malicious hackers. Surely you can see how imperative it is to choose a credible exchange for your automated trading.
Many times, traders just go with their main cryptocurrency exchange just to avoid having to audit other exchanges for their automated trading.
The KuCoin Exchange
KuCoin is one of the industry’s most popular exchanges with more than 200 distinct coins, the option to leverage trading, and the variety of trading pairs available.
This system is trusted by more than 5 million clients, which is pretty impressive, but to us, it seems a little saturated. However, it’s a trusted exchange.
Can you use KuCoin with cryptocurrency trading bots?
The following will answer that question and more of what you need to know about KuCoin and linking it to automated platforms.
Are You Allowed to Use Bot Trading On KuCoin?
The short and simple answer is yes, you can use trading bots with KuCoin. This exchange already encourages the use of the latest technologies across multiple cryptocurrency markets, so it seems like a logical conclusion to draw about KuCoin.
Much like its counterparts, KuCoin allows different methods of linking its engine using its API. Naturally, the API is open to software developers creating other bots that can perform orders.
So, you will find many bots that cater to KuCoin cryptocurrency trading across its digital assets.
Is There Software You Have to Download?
Due to the advantages of cloud-based and web-based options, most bots nowadays are not downloaded and installed on your computer or device.
Using the cloud-based or web-based option allows you access via secure web browser on any device whenever you want and wherever you go.
Therefore, you can do your trading activities without installing an application. Although, there are still a few that do require a download due to the extensive and complex features.
So, not every cryptocurrency bot is cloud-based or web-based. Some people prefer the download and some prefer the web-based or cloud-based option.
It depends on your level of skill with cryptocurrency trading bots, coding, and security measures for using them on your system.
What About Safety?
Regardless of the type of crypto trading bot platform you select, it’s important to note that you need to have a good understanding of how they operate and how to use various security measures.
The most credible bots offer top-notch security, while others are lacking in some of these measures.
KuCoin itself is a safe and secure cryptocurrency exchange, but the use of automated tools for trading is a different matter. There is no guarantee that you will have a good level of security using a bot.
This fact is of utmost importance when you are picking the trading bot you want. You need to do your research to make sure you are using a secure crypto trading bot platform.
Three things to keep in mind regarding choosing a secure trading bot:
- It is hosted on an HTTPS secure server for web-based and cloud-based applications.
- Your computer is used only by you and no one else has access to it before you download a trading bot program.
- The bot should never expect you to withdraw funds via your API.
It’s common knowledge that a bot never needs to withdraw your funds. Never. They merely require permission to use the exchange account to make trades on your platform, which in this instance, would be KuCoin.
If a bot ever requests for your API to withdraw funds, run away from it and find a more reputable bot platform to use for your KuCoin trades.
🤖 Best KuCoin Trading Bots
What About Free KuCoin Bots?
Free bots are a rare find because they take time and effort to develop them. Any expert developer is unlikely to do that for free. So, those who invest their time in these systems want compensation for their work.
However, there are a few open-source platforms that do work with KuCoin, but they are mostly geared for knowledgable coders and experienced traders.
They also lack advanced features, so unless you’re a contributing developer, you may not like the complexities of open-source free bots.
If you want to try one for free, you may be able to find a few with a free trial to see how you fare on this kind of platform for trading. These bots often have advanced and easy-to-use features.
Other than that option, you could always try the lowest tier subscription on a credible cryptocurrency trading bot program before choosing the one you want.
There is another option you can try and that is backtesting and paper trading modes which are usually free to use. This might give you enough to make your decision.
You should be able to check out the interface and/or watch it in action.
What Kind of Investment Will Get You Started?
Credible exchanges like KuCoin do have fees to pay, which is standard practice. You can expect a trading fee that is required with every trade and a withdrawal fee when you transfer or remove coins.
Whether you are buying or selling, this exchange charges you fees. The structure for this starts at 0.1% per trade. However, the more you trade, the lower the fee. You will also have a processing fee using your credit card for any transactions.
You need to keep this in mind since you don’t want to end up paying more in fees than you profit from trading.
What Unique Pairs Can Be Traded Via KuCoin?
KuCoin does support several types of cryptocurrencies as well as ample trading pairs against many of these assets, which are in the form of USD/BTC/ETH pairings.
You may also pair against the in-house trading token, called KCS (KuCoin Shares). This exchange also supports derivative trading at 100 times leverage, and spot and margin trading.
All these aspects mean that KuCoin is a dynamic exchange for novice and seasoned traders.
Be mindful of the fact that these features are available only via manual trading. Not all bots will support this function.
Generally, KuCoin trading bots are sometimes a good solution when you choose one that is not only loaded with a full array of features but is also a credible, reputable, and safe, and secure system.
If you are an existing KuCoin user, we advise that you ask your community about cryptocurrency trading bots that they use.
We also recommend that you do your own research to find one that suits your needs and goals. Otherwise, you can use a few for a short time as you learn more and discover your ideal bot.