In this post, I will outline a crypto trading strategy that can be automated to make trades for you while you sleep. The strategy, called grid trading, works well in ranging markets where the price of the coin stays within a certain range. The strategy is a form of market making where a ladder of sells are placed above the current price, and a ladder of buys are placed below the current price. As the price of the coin moves up and down, the bot will continue to add corresponding buy and sell orders as each trade executes. You will profit off of the spread (the difference in your buy and sell orders). Grid trading does not require you to pick a direction – only a range that you believe the coin will trade within. The caveat is that if the coin trades above or below your buy/sell range, you can experience impermanent loss. The tool I currently use and recommend is the Grid Trading Bot hosted by Bitsgap.com.
One of the advantages of using a crypto trading bot is that the trades are automatically executed without human intervention. The bot takes human emotions out of the equation. The bot can also trade while you are sleeping.
To set up your own crypto trading bot, you will first need to set up an account at one of the following supported exchanges: Binance, BinanceUS, Kucoin, OKX, FTX, Bitfinex, Bittrex, Bybit, Coinbase Pro, Gate.io, Gemini, HitBTC, Huobi, Poloniex, and Kraken. Once you fund your account with crypto or fiat, you can then sign up for a 7 day trial on Bitsgap.com. Then you will connect the trading bot to your crypto exchange account.
For further instructions on how to set up the Grid Trading Bot, please see this tutorial. Sign up to start making steady income!
