Trading bot is becoming popular to do more with your cryptocurrencies. So you have earned cryptocurrencies by doing various Airdrops and Bounties. Holding onto them for a long period of time is certainly a good idea. However, you can also put your cryptocurrencies at work, all automatically and autonomously. In this blog, we explain how, by using the GSMG Trading Bot. GSMG Trading bot is created by Dutch experts, with whom AirdropAlert has been in contact with for over a year. Using the GSMG Trading bot is entirely free of charge, a motto AirdropAlert stands for as well.
Cryptocurrency trading bot is a software program that interacts with cryptocurrency exchanges on your behalf. Essentially what happens is that you would be outsourcing buys and sells to a program. This program is designed to interpret current market data and conclude whether it’s a good idea to sell or buy a particular token. This is often done using API’s to obtain information automatically, which is offered free of charge by these cryptocurrency exchanges, enabling the function of a trading bot.
Trading Bot – GSMG
An entirely Plug’n’Play trading bot is introduced by trading bot called GSMG. It is entirely web-based and runs autonomously. The user can select which trading pair should be used to let the bot run its trading sequence. For example BTC – ARK. What is required to use GSMG Trading bot, is to have an account with Bittrex. This is needed to obtain the Bittrex API associated to your account.
The main advantage lies in the profit model. The creators earn only from commissions paid by the user when a profitable trade is executed. Additionally, you are given 0.15 ETH as a starters fuel, this is free and this makes it possible to essentially try out the trading bot. Because this starters fuel can only be used for the bot itself.
Global statistics of GSMG Trading bot
Here are the steps to get started with the GSMG Trading Bot.
- Create an account at GSMG using AirdropAlert’s referral link (you are given 0.20 ETH instead as a starting fuel, which is 33% more!)
- Make a Bittrex account, go through the verification and add 2-Factor Authentication (mandatory), make sure to save the back-up key
- Go to Settings, click on “API-Keys” and generate a new API. Make sure to check-mark “Read Info” and “Trade-Limit”, as doing so will give you 2 API keys. Both of them are needed to associate your GSMG bot with your Bittrex account.
- Log in your GSMG account, go to Menu and then to Settings. Here you can submit both of your API keys, then click “Update API Settings”
- Select your trading-pairs now, shown in Available markets. Choose your desired settings. Go to Trade Engine in the dashboard and let the bot do the work
Minimum funds on Bittrex Account
GSMG Trading Bot will automatically trade pairs for you. For example if you want to have the bot trade an altcoin for you with ETH, then there is a minimum amount of ETH needed on your Bittrex account. Same goes for if you want to have BTC traded with an altcoin by the bot. Therefore, a minimum amount of BTC is needed on your Bittrex Account. This is required to have the bot run efficiently. Recommended funds on your Bittrex Account are listed here.
**Disclaimer: Using a trading bot does not mean guaranteed profit. Also, trading crypto currency is considered high risk. Losses are possible, which AirdropAlert cannot be held responsible for.
A blockchain enthusiast and a content writer at AirdropAlert.com. My final goal is to help readers find what they need, understand what they find, and use what they understand appropriately. Favourite mystery – Satoshi Nakamoto, favourite crypto – Bitcoin (BTC), favourite airdrop – BRD.