Poloniex is one of the best cryptocurrency exchanges out there. The platform has a huge variety of trading pairs, and is easy to use. It is a great place for beginners to learn how to trade and earn their first few dollars. However, it has also been plagued by many issues which have left traders with a lot of questions about the platform.
Poloniex Trading Bots
Unlike other cryptocurrency exchanges, Poloniex does not provide their own trading bots. Rather, they allow customers to utilise third party modular trading bots that are compatible with their platform. This allows a wide range of traders to utilize different trading bots in order to maximise their profits.
A good poloniex trading bot will help you to trade more effectively than you could on your own. These automated bots will help you to identify profitable arbitrage paths and will enable you to take advantage of the fast settlement times offered by poloniex.
How to Set Up Your Poloniex Account
Once you have opened an account with poloniex, it is important to ensure that your profile and account information are up to date. This will ensure that you are able to trade safely and securely on the platform.
If you are not sure whether your account is up to date or not, it is best to contact customer support. They can help you to rectify any problems that you are having and will ensure that you can get back on track as quickly as possible.
You can contact them through email or live chat. The latter is especially useful if you have a question that you cannot find an answer to online.
There are also a number of online forums where you can post your questions and receive feedback from other users. These are a great way to find out more about the poloniex platform and to ask any other questions you may have.
It is also helpful to keep up to date with the latest news about the poloniex exchange as this can be helpful for your trading strategy. You can read up on the newest crypto price trends as well as other market news, and you can sign up for their newsletter to stay up to date with all of the latest developments.
How to Use an Automated Bot for Poloniex
To start using an automated bot for poloniex, you need to create an API key. This is a key that connects Cryptohopper to your exchange, allowing it to perform the necessary calculations and orders required for automated trading.
Creating an API key is free and takes less than five minutes. After creating the key, you will need to verify your account with Poloniex. Once you have done this, you can start trading on your poloniex account.
DCA for poloniex
A simple DCA bot can be very effective when it comes to taking advantage of trending markets. This type of trading bot accumulates assets over time by buying at specific prices.