KuCoin AMA - KuCoin Trading Bot (DCA Trading Bot) - Full Transcript
Dear KuCoin users,
Date/Time: 23:30-00:44 (UTC) / 20:30-21:44 (GMT-3) on June 11, 2021
KuCoin hosted the 3rd AMA (Ask-Me-Anything) session exclusive of KuCoin Portuguese in the Luso Brazilian Group telegram (https://t.me/KuCoinPortuguese) with KuCoin Musketeers on the DCA Trading Bot, an integral module of KuCoin's free trading bot, the KuCoin Trading Bot.
Guests
Luis, KuCoin Musketeer
CryptoBlackOps, KuCoin Musketeer
KuCoin Question
Luis: Good evening everyone. I hope everyone is doing well as many here already know me but I will introduce myself to the new ones.
My name is Luis, Kucoin Musketeer from KuCoin's Trading Bot Group.
I hope you like the event
CryptoBlackOps: Good night guys! Here who speaks to you is @CryptoBlackops aka Guardian KuCoin, I recently joined the KuCoin Musketeers team and I would like to thank everyone for being here honoring our AMA DCA, I hope you enjoy what we have prepared especially for you and good learning to all!! !
Q: What is DCA?
Luis: DCA is an investment strategy in which an investor divides the total amount to be invested in periodic purchases of a target asset in an effort to reduce the impact of volatility on the overall purchase.
Warren Buffett once said that for retail investors, the best way to invest is to conduct an automatic index fund investment plan.
While there is a big difference between cryptographic assets and index funds, history has proven more than once that DCA is one of the easiest ways to control risk and gain long-term returns in the crypto market.
DCA takes advantage of price movements in the encryption market. This ensures that you buy more coins when prices are low and less coins when prices are high. Over time, as you accumulate more coins when prices are cheaper, you can lower the average purchase price per coin.
CryptoBlackOps: This is very good, as many investors starting in this crypto market may not be concerned about the large periods of market volatility by reducing the average price and increasing the quantity of the preferred asset.
Q: Why use KuCoin DCA?
Luis: One of the main reasons is liquidity. Compared to third-party tools in the encryption market, KuCoin DCA Bot is more secure and convenient. Supported by KuCoin, the KuCoin DCA Bot offers better liquidity and the best investment price, compared to API trading bots, another advantage and the buy order trading rate is only 0.08% far below the rates if the User chose for doing this work manually on the Spot Market.
CryptoBlackOps: Another great reason then for those who choose to use the Bot DCA, since in addition to cheaper rates compared to manual operation, they will also find more security and privacy in their investments.
Q: How many assets are available in KuCoin DCA Bot?
Luis: The KuCoin DCA Bot currently supports 25 tokens, including BTC, KCS, ETH, XRP, ATOM, ADA, BCH, LTC, EOS, XLM, DASH, TRX and VET among other key assets.
In the future, DCA Bot will support more tokens, to have a very diverse Investment portfolio to make the user experience as complete as possible.
CryptoBlackOps: A beautiful start! In other words, we can start using it efficiently and soon, Kucoin will provide us with more pairs, that's great, isn't it personal?
Luis: Yes, even the user can send their suggestions for new pairs
CryptoBlackOps: This is really wonderful, and unlike other platforms Kucoin has always been caring for its users!
Q: What functions are available to configure the Bot?
Luis: Yes this is one of the biggest questions from users and I will be happy to explain the main functions of this wonderful bot.
KuCoin DCA Bot has simple functions for users to configure, such as:
Initial Investment Value, in this function the user will determine the minimum initial investment value being a minimum value of $10, and can also program the investment time or simply start the bot immediately after finishing the settings.
Investment Period, here the user will define the investment period and it can be configured according to the user's analysis for his investment, which can be hours, days or weeks
Profit objective function, users can set a target percentage when setting up a DCA bot. Once the target is reached, the bot will remind you to continue the DCA or sell all positions.
CryptoBlackOps: Um, a nice investment, with an initial entry like that anyone can start then! Look guys... Who hasn't started using this bot is still making silly things...
Wonderful Luis, a simple configuration tool, but with the power to bring us great results in the long term and best of all… for free, safe and efficient!
Luis: You saw that these functions are simple to configure, this combined with a technical analysis of the asset chart will result in a great passive income for the user.
Community Questions
Q: What is the fee?
Luis: Hi Michele your important question. Fees in KuCoin Trading Bot are set at 0.08% or much lower than the fee charged in a manual trade in Spot Market.
CryptoBlackOps: Great, therefore, it generates more savings in negotiations while we can increase our equity!
Q: We always like to make things as easy as possible, KuCoin has a simple, fast and secure system for all users, but compared to DCA Trading Bot, what sets it apart from other similar systems?
Luis: Well, the difference is exactly that you don't need to use an API to connect your assets that are on KuCoin to an external bot with very high fees, maintenance, you have it all inside the KuCoin App and with all the security that your funds always have. will be safe
Q: Good night, what are the main differences and advantages of Classic Grid, Futures Grid, DCA modes?
Luis: Hi Ana. Well, there are 3 products very different from each other but a quick explanation about the differences DCA Bot is more suitable for that investor who seeks long-term profit with the intention of an average purchase price of tokens, now the Classic Grid is for the investor who seeks the medium term and low risk in investments. Now the Futures Grid is for the high risk investor because it operates with short buying and selling aiming at gains in the oscillation of the target asset.
Q: Is the minimum value of $1 per order or will this $1 you split into multiple orders as scheduled?
A: Good question Daniel. The DCA Bot you define an investment value and divide it into periodic purchases in the bot. And the minimum value of $1 is per order in the bot, ok.
Q: Would the bot be a way to generate passive income?
Luis: Hi Asheelay good your question. Yes, DCA Bot is a form of passive income as it aims to hold assets with the aim of future profit through periodic purchases determined by you in the configuration.
Well everybody lots of interesting questions thank you I wanted to answer everyone but we would spend all night here
Diego (CM): Thank you, Musketeers, for taking the time to bring a little more about this exceptional tool - and free! - that KuCoin makes available!
CryptoBlackOps: As said earlier in the group, today is a very important step for our community and for each one of us who make it up!
Luis: That's what we thank for the opportunity to help people and whoever has questions can join the Trading Bot Group here on Telegram, we'll be there to help everyone
https://t.me/KuCoinMusketeerChat
https://t.me/KuCoinTradingBotGroup
CriptoBlackOps: It's been a great pleasure for us to share this knowledge with this amazing and so active Diego community, we are the ones who thank you for opening this space
Backed by foreign investment giants, KuCoin is the exchange of choice for eight million users across the globe!
Website: https://www.kucoin.com
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