The crypto market is a volatile beast. There are many people who have been in the game for years and they still struggle to keep up with the ever-changing landscape of currencies, coins, and exchanges.
One way to combat this volatility is by using an automated Poloniex trading bot like “The Trading Bot”.
In this article we will go over what Poloniex Trade Bot is and how you can use it to automate your trades on Poloniex so that you don’t need to be glued to your computer 24/7!
Trading Bot Poloniex Guide
There are quite a few factors to consider when selecting a platform for your cryptocurrency trading operation. While these considerations usually do not clash, they can be complicated and time consuming.
A Poloniex Trade Bot is a great way to automate your trading, but there are some crucial features that you’ll need before the bot can work.
As an experienced trader, you know that your preferred method of trading is using a bot with the exchange that you usually trade on.
However, if you’re new to crypto trading, then it’s best to find a bot that works well with your chosen exchange.
Here we will mention the benefits of using a cryptocurrency trading bot for Poloniex.
So does Poloniex offer all the features a trade bot package requires?
Let’s find out.
What do you Need to Make a Poloniex Trading Bot?
You need to provide your API Keys. You can get them here: https://poloniex.com/support/api
You will need signals for buying, selling and managing the trade.
We like having signals generated from algos on the tradingview platform like “The Trading Bot”
Tradingview is the charting and algo choice for traders world-wide because it is the best platform for charting, algos and trading education.
The charts are customizable and we also like the platform’s tutorials, which cover how to use Tradingview to trade stocks, futures, forex, options and cryptocurrencies.
We like that signals can be sent to your Poloniex account via webhooks.
It is user-friendly
It runs in the cloud so no worries about missing opportunities.
It is low latency to fire signals from trading bot onto the exchange.
Connecting Tradingview trading Strategy to Poloniex
Once you have signals being generated by an automated crypto trading strategy inside Tradingview, you will send your signals to a service that will aid in placing the trades onto the Poloniex exchange.
We like using 3Commas or Alertatron for this as Poloniex is on their list of supported exchanges.
Are There Any Risks to Using a 3Commas Poloniex Trading Bot?
No, 3Commas software does not add any risks or potential security breaches to your crypto trading system. Poloniex API keys do not read user security data, just data from trading on the exchange. Be sure that you have switched off the funds withdrawal option when you generate your Poloniex API key for an added layer of security.
Are There Any Unique Pairs to Trade With the Bot on Poloniex?
Poloniex is a great source for trading Bitcoin, Ethereum, Litecoin and over 100 other cryptocurrencies.
These cryptocurrencies are primarily traded with BTC, USD, and USDC but can also be paired ETH.
This makes Poloniex a good choice for those crypto traders who need a variety of trading pairs and choice of cryptocurrency.
Are Trading Bots Allowed on Poloniex?
Similar to all other major exchanges, Poloniex also offers its customers the ability to use trading bots coupled with their markets via API.
To help customers automate their trading, Poloniex has created an API that connects to the platform and markets.
As a trader, there are many cryptocurrency automated trading systems available that are compatible with Poloniex.
3Commas Poloniex Trading Bot
The 3Commas interface sets a new standard when it comes to reliable automation tools, robust layout, and simple-to-use software.
3Commas has the perfect balance for traders of all backgrounds and levels of experience.
We like sending signals to 3Commas because it can automatically handle scale-in orders using their DCA bots.
Alertatron Poloniex Trading Bot
If you prefer to use alertatron, this can be a great option. Alertatron does not have DCA (scaling orders) built-in, but with their extensive list of commands, you can automate your poloniex trading easily.