Trading Bots: SCAM or Legit? What You NEED To KNOW! 🤖
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- Опубликовано: 9 июн 2024
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- TIMESTAMPS -
0:00 Intro
2:06 What Are Trading Bots?
6:22 The Truth About Bots
10:51 Why Use A Crypto Bot?
13:07 Shrimpy
15:37 Kucoin
17:34 CryptoHopper
19:46 3Commas
23:11 Final Thoughts
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► Shrimpy - Top Portfolio Management Tool: guy.coinbureau.com/shrimpy/
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❓ What Are Trading Bots? ❓
They are merely automated trading algorithms and software that help buy and sell various cryptocurrencies in an automated way.
However, there are three main types of crypto bots out there that you should know about:
► Signal generator bots: These make trading decisions based on tips by so-called ‘experts’ or a computer program that is fed data and churns out buy or sell signals.
► Arbitrage bots: These essentially buy a specific crypto on an exchange with a low price and sell it on another exchange which has a higher quoted price to generate profit.
► Finally, you have bots that trade on your behalf with a set of instructions you have given it.
Many of these types of bots offer features like backtesting to help optimize your trading strategy.
💡 The Truth About Bots 💡
Many people are drawn to crypto bots because they love the idea of making money in their sleep. I don’t blame you.
However, the truth is that they are anything but money printers!
Many signal-driven bots are just a way to fleece you for money. Think about it; if the signals were so good, wouldn’t the signal creator keep them for themselves?
Then you have scam bots which promise you guaranteed returns. That should set off alarm bells. Then you have others that ask you to send money to a broker or strange place.
The point is there are many wolves selling crypto bots. So, be careful.
Even if you do use a legit bot and you devise a winning strategy, you’ll still have to invest time in refining it to account for different market conditions. You won’t sit there on a beach for decades laughing all the way to the bank.
🤖 Why Use A Crypto Bot? 🤖
Watch my vid. Here I explain all the reasons why I personally use a crypto trading bot.
4️⃣ Shrimpy 4️⃣
This social portfolio management tool was established in 2018. Yes, it doesn’t offer any signals. But it does offer spot trading, portfolio tracking, strategy automation, backtesting and smart terminal trading.
The two features that really stand out to me are longer-term portfolio management tools which automates things like portfolio rebalancing, dollar-cost averaging and stop losses. Then you have the social trading feature which allows you to copy the trades of the top traders on the platform.
3️⃣ Kucoin 3️⃣
Yes, most of you will know Kucoin as a top exchange for exotic altcoins. However, what many people don’t know is that they also offer a plethora of free trading tools too.
That includes things like preset trading strategies, dollar cost averaging, classic grid (to help you sell high and buy low), dynamic portfolio rebalancing (so you are never too exposed to a single position) and much more.
Over 2.5 million bots have been created on Kucoin worldwide - so yep, there is a literal buffet of options here. Even better, those tools are absolutely FREE!
2️⃣ CryptoHopper 2️⃣
CryptoHopper provides support for a whopping 100+ cryptos on literally every exchange worth having an account at.
It provides expert trading tools without the need for coding skills. That even includes advanced trading stuff like market-making and exchange arbitrage. Yes, they also offer features like backtesting and trialing features to help you buy and sell more efficiently than before + paper trading to test those new strategies you’ve developed with no risk at all.
1️⃣ 3Commas 1️⃣
This is one of the most popular trading bots out there. There are a ton of really useful features, paired support for 23 different crypto exchanges. Just watch my vid to find out why I personally use 3Commas as my trading bot of choice.
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial, legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
#bots #crypto #trading #scams #3commas #cryptohopper #shrimpy
🚨NB🚨: There have been numerous reports of users having their 3Commas API key leaked. I suggest you avoid them for the time being and opt for one of the other bots covered.
UpBots! Great project, backed by Alameda (and others) so I wouldn't be surprised if it gets integrated into FTX which is trying its best to usurp Binance's position. Gives its $UBXT token real value & use case, which has great staking incentives. I'm not affiliated, just have a few $UBXT in my portfolio and really love the project!
Rest assured that baloney is an American foodstuff and doesn't exist in the UK.
DeltaBadger
"Up To 44% Fee Discount" - I signed up (again) with your referral code but I get zero discount - where exactly will I see that 44% ? I cannot find any trace of it (maker/taker fees are the same as a normal account). I think it's important to be clear about this as not to appear as to just profit from the referral bonuses on your side...
As an investor and not a trader the only thing I ever occasionally use bots for is a descending ladder of dollar cost averaging.
When Guy says do your own research, and Guy is your own research
hahaha, true that
I agree.
Best comment haha
Guy, aantonop, and InvestAnswers. 😊
All the idiot traders that are going to lose everything: "Derp. Right? I don't actually bother to do real research!"
Wow, that 3-comma's shoutout to Sam Bankman-Fried didn't age too well!
Really good timing for me on this topic. And of course you had a video for it. You have some really good choices, I thought some of the rebalancing and strategies of a portfolio was brilliant. Thanks
Thanks for a great overview and realistic analysis. As usual a very high quality presentation. Down to earth with a practical advice.
The humor aspect makes this YT chanel world class - Good job, and great work!
Well-researched facts and thoughtfully put together content with great value. Thanks as always. 💝
Massive thanks for making your vids available as Podcasts! Was listening to this one on my way to work earlier this week and decided I'd spend this weekend exploring 3 commas... !!! Even the wife enjoys your content despite a sincere disinterest in crypto. Just had to come back to the vid tonight for the links and say a massive thanks for all your advice! Brilliant!
#Latepost
I've been using 3Commas for couple of months as well, big thanks to Guy for his video ref earlier... just wondering how's yours doing right now? For my own personal use, it's been great and really live up to the expectations. Of course, nothing is 100% guaranteed profits every time, but this stone-cold heartless bot will do the job just fine :). btw, much respect for Guy's videos, he's one of my most valuable mentor 🙏🏽
He's great at presenting information. Calm and balanced, instead of those people that look like meth heads telling how to make $$$ with crypto.
Hehehehe, never dull and always informative. Your team rocks.
Nice touch on the intro with the News Break. I chuckled.
I love the new "I am not a advisior" mini news. Verry funny and entertaining
They probably run out of rhymes but I liked the breaking news surprise lol
Thinking out of the box..fresh
made me lol
Yea, and she's way cuter than you're peach fuzz face :-P
Hi Guy, thanks for the great content. Any information about I Love My Trade Bots?
I get so much knowledge by going back to watch older video’s.
Soooooo informative!
Double like, mate! You're a legend!!
you are the best Guy! So good you made it on the evening news! hahaha
Seriously tho, you're the best, by a long shot!
Great content mate!
Thanks for the great video. concise, clear and concise. Most of the video skipped, but I looked at this completely and I enjoyed watching it.
Hi Guy. SLowly getting through your videos, could you tell me is it easy to swap exchanges?
Thank you for the updated video!
Thanks do much Guy. I’ve been trying to wade through exactly this dilemma the last couple of months. We tend to agree do happy about that too especially considering I’m relatively new.
Cheers bigears
Keep up the great work! I need to make some content like this
Love and appreciate every video on this channel. Thank you
It would be better if you provide a tutorial on those top 3 or maybe a link videos. Cheers
Thank you, Guy for such an informative video! 🙂
Hey Guy good video and a lot of useful info. I was wondering if you might consider doing a review on Tokenmetrics. I would very much enjoy to see your thoughts and opinions on that algorithm trading program. Cheers 👍💯🙏
The best crypto bots are private, but you can't deny their value when you see coins that hit a dex and spike crazy amounts and sell off before human can even click a button.
Guy is the only one from who I would accept even advertise on RUclips...please never leave us Guy!🙂🙏🙌
Once again great video and info Guy. Which would say is the best Bot for market making ? Thank you
do you trade in the 3 commas platform or do you train on binance or coinbase with the bot or is it all in its own platform,,,,interesting,,,gotta make upa winning strategy
Any Coin Bureau video is an automatic thumbs up.
I like how she reads the screen behind the camera when she has papers in her hands. But beautifull lil clip! Keep it up mate!
I would use them to program actions based of conditions in the short term only.
Thanks, Guy, you are the man! Once I make some money I am buying merch
Awesome video, thank you so much! 👍
Hi guy, I have implemented own trading bot, using AI and TA. The bot enables back testing and demo trading. Is there a way I share some graphs with you to show how it performs and ask your opinion?
How can I learn from you?
Great content. Thanks.
does FTX recent news change your thoughts on 3Commas?
Amazing video!!
Thanks,
Another great piece of content from Coin Bureau
Guy, any opinion on formation.fi?
Just love your channel
Excellent as always...thank you.
Life lesson 101 : if somethings are too good to be true they probably are
ruclips.net/video/Ce5BVW7l-KE/видео.html&ab_channel=anassziani
In a space where you can safely 20-30x your money on the low end, your comment is retarded.
@@Someoneonyoutube thank u no face person calling my comment retarded funny stuff 😂
@@uputku If you think things that sound too good to be true are always are then you shouldnt be investing. If you invested $1k in bitcoin in 2010 youd have 237 million.
@@Someoneonyoutube sounds too good to be true. Probably a scam
Great information Guy! Would love to get your opinion on Ganymede. GANY is the token, and Jupiter is the bot.
Great video Guy! My favorite place for not financial advice
Another great informative video!!!
Thanks Guy. Great breakdown as usual. Thanks mate.
Thanks a million for going through this topic, I’ve never really thought of using a bot and just use my own knowledge sometimes good and sometimes not so but that’s trading :) I think I will click on your link and download 3 commas to have a look and a small amount of cash to evaluate it.
Are there any decent bots for trading idols when they first lust on pancake swap or matrix or avax networks?
THanks Guy This Can And Will Be A Game Changer, As A New B Yes , I look At The Market Cap And Not The FOMO, Its The Proof OF Work, WE Have To Now Do This In All Our R AND D, Projects? Thanks.
Ha ha Guy, best intro yet, hands down lol :-p
Love this “guy” thank you!
Do you need help in trading?
I was just making a research about this. Thank you
great vid as usual 👍👍
Is it possible to have a trading bot that rebalances and also stakes your stake-able crypto coins in fixed terms or flexible savings ?
kucoin times out when my US account tries to access bots feature. obv US ip’s are restricted. also i signed up with guys deal.. never saw the discount. keep that in mind.
He is sooo smart ... I think his hardest task is to break it all down for us to understand! Thank you.
VERY WELL TOPIC THANKS FOR YOUR HONESTY
Thank You Guy. I just started thinking about using bots and was just about to do research when your notification popped up.
Get out of my head there's not enough room..
lol...
Thanks for the great info Guy!
Awsome video!
Do you have a training video for 3commas?
how safe is it to give them API key to trade on your exchange? how to mitigate the risks here, would restricting IP to your home address do the trick?
Your videos are all top class. Not financial advice in a breaking news 📰 is the best warning ⚠️ for crypto traders.
Thanks you so much for the information am Oba Pelumi from Nigeria ... I use Royal Q bot to trade ... it has all the feature you talk about ... like setting the bot when to buy and to sell. But please if you can do a constructive review on the Royal Q bot .. because we can never tell if it scam or not .. me and my team has invested in it so much
Thanks
I'm a huge fan, Thanks for all the efforts you put into this. I keep learning and keep sharing.
I use DCA (dollar cost averaging). How much better are bots than DCA? Are they worth the trouble?
Thank❤ you for your gratest knowledge📚.... 🤔
Iv learnt so much about crypto from this channel!
Thank yu guy for the lessons✊🏻
Tom, can you please tell me if you know of any good bots to trade S&P, Nasdaq or other futures?.I emailed 3commas but I was told unfortunately they don't do it. Please help. I Love your video and you taught me a lot about bots and cripto. you were very thorough, btw i use interactive brokers and if I have to change I will.
Does it work on the defi exchange?
Brilliant intro! 🤣
Guy.. Love your videos.. You're the best.. Bot...This video, I think, is aimed at lads liked me who don't have enough experience/time to trade themselves but want a good return...it all seems very complicated when you run through it..is there a bot that is suited to those of us that only have limited knowledge of the cryptoverse?
Great job
How can I contact you?
Great content sir
Greetings
sent you a text sir please reply
I have wanted to try a bot for awhile now but I dont have the knowledge of being able to do tech analysis and setting these bots up but after watching your video of useful info I might give it a try now thankyou Guy you are one of the best youtubers in crypto.
Thanks Guy for all you do for us all for free..Do you ever take breaks?
Does he have a video regarding Pionex?
I got DOT and ADA yesterday , through all my learning on this channel 👍
Perfect time to buy! Well done!
@@paulomeara7706 DOT at 13.44 and ADA at 1.22 🤞
Bet you’re happy now (:
I use Jesse obviously 😃
Thanks for making this video Coin Bureau!
Funnily I was just looking into this, but looks like you did the research for me! THANK YOU!
Best entro till now. Love you👌🏿
Keep it up.
Respect.
Which is the best approach to earn from investing ?
I have been earning much profits investing with Expert ms Elizabeth walker
@@kerrypearls6884 So surprised you know her too. I earned good money in March investing with Elizabeth too. Good strategy and communication skills
Newbie here. Really need help
@@micoperez6086 Yeah i have over heard my colleagues talk about her. But i didn't get on how to reach her
Investing with an Expert improved my Standard of living. My kid now goes to a great school.
Still super skeptical about this whole Xrp thing
Cryptocurrencies are the future of finance. The world is evolving, follow it or be left behind!
@@marksway7292 Don't be left in the dark. Get a good portfolio manager to advise and guide you and you are good!
@@emilyfranklin8190 very true all forms of alt-coins has come to stay
@@markcurry5337 I have my crypto investments managed by FRANCES CLAIRE RYAN a wonderful broker i was opportune to work with. You can check her out on the internet for more information. She is superb!
Look at all the Scam Bots.
Guy you have a knack for making me think its the end ofthe video multiple times i go to switch and theres still 10min.
Muchas gracias guy
I like using some of the KuCoin trading bots. I’m however working on api coding and creating my own bot that trades on dexes…
great disclaimer mate :-)
Guy, can you give opinion about Prometheus AI bot?
Great video
Thanks for teaching us🔥
Can anyone tell me if it’s possible to run a cost carry (aka basis trade) on one of these bots? E.g. short the futures on ftx and buy the spot.
Good stuff
I have been wondering: if trading bots are created to make gains, can bots be programmed to drive the price down????
not in to trading just a humble hodler thank you anyway Compadre Guy !!!
exactly , no need for any extra drama
I hodl as well, but it's fun to set a limit buy and wake up one morning to my favorite cryptos purchased at a price I would have missed otherwise :)
@@kristenbouwman3494 isn’t that the purpose of limit order ?
@@nasaos8571 I am under the impression that limit order is a type of trading bot...that's the only one I use though. I agree that the more advanced bots are too much stress.
Fascinating video. I'm intrigued now.
Not sure if there's an answer to my question, but I was wondering if there was a step-by-step way that I can use a bot I created on Trading View to make automated trades on one or more of the crypto exchanges. Any suggestion you can make would be much appreciated.
According to the strategy tester on Trading View, my profit factor for the bot on the one-minute time frame, using Heiken Ashi candles, is 4.5 and a win rate of 50.55%.
Forward testing on Trading View's paper trading facility seems to bear out its profitability.
Thanks for this
Thank you guy I was considering using a bot now I’m not so sure...ps anyone know how to stop PS5 from turning on randomly? I’ve tried everything HDMI-link ect... please anyone or anything , I might get a bot after all just due to turn off PS5 instead of crypto use lol
Love these vids Guy but this one didnt cover a key issue - how does bot trading handle tax consequences? Here in the US, the IRS is pretty hot on getting their cut of trades....
Please do one on Tether and how it is most likely a scam.
How can I set it up on exchange