I Tried The KuCoin Trading Bot So You Don’t Have To | ETH Bot Results
As usual Max on the lookout for passive income opportunities, I stumbled on the KuCoin trading bot. Even though I am not a big believer in trading bots because I think there’s so much more needed than algorithms for trading properly, something I like about this bot is that there is not much hype, and nobody is trying to sell you a service or course around it. So I decided to give it a shot.
The first step was to decide which one of the 5 trading bots to go with.
Please don’t look at the “Highest APR Today” that information is not really precise because what they do is they take your APR today and then multiply it by 365 days. So not because you were lucky and made 10% today means you will do it every day for a year.
Starting from the top we have a Spot Grid that creates buy/sell orders in a range of prices. So this is like small scalps.
Here’s what grid orders look like
Second, we have Futures Grid which uses the same analogy but with leverage. You can use up to 10x leverage. I definitely do not recommend this. Yes, making 10x your investment is cool but when you are down 1x remember that also equals a 10x loss.
Third, Smart Rebalance balances your portfolio depending on the weight of each investment. Let’s say ETH goes up 100% and now your portfolio is heavier in ETH then it will sell some automatically and reallocate it into another project of your choice.
Fourth, DCA. You choose a time frame and let’s say every 24 hours the bot will purchase $100 worth of BTC.
Fith, Infinity Grid. The one that I decided to go with. Same analogy as Spot Grid but the range of price updates automatically.
Let’s say the bot was purchasing ETH between the price levels of $1,400 — $1,700. As the price goes up or down it will update the range for you.
Now, the second step was choosing the amount of capital to try this out. I had $146 available so that’s what I end up using.
The Third step was choosing which coin the bot was going to trade. I first thought of BTC but I went for ETH just because it moves a little more than BTC.
When creating the bot it automatically purchases a large sum of ETH to start trading.
- 14 days is the number of days the bot has been active.
- Total arbitrages are total trades taken.
- Grid profits are the realized profits from the trades.
- Unrealized profits are from trades that are still open.
- The current price is the live price of ETH
- The entry price is my first purchase of ETH.
Even though it says $8 in profits, in reality, I have made $2.14 as realized profits.
You can make some money from the bot but if you think you will get mad rich from this, think twice.
My percentage gain on my investment is 1.47%. I am not counting my unrealized profits because they can be positive today and negative tomorrow.
Overall this has been a good tryout. 1.47% is less than what I was expecting but that can still be a nice 3% per month. Depending on the amount of money you have available this might be lucrative for you.
I will leave it for 2 more weeks and will come back with a second update.
If you want to track your crypto passive income with style and simplicity, check out my spreadsheet.
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