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Any Crypto aficionados here?


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#41 Salty117

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Posted 02 November 2021 - 08:53 AM

If you have the capital to play with, why not employ bots to do all your buying and selling for you 24/7, this works whether bear or bull. I was doing the same as everyone else, trying to dca, trying to buy at dips and sell at peaks, and never seemed to gain much or couldn't never time the market right.
Now though, my bots are making me money all the time, 24/7 while I do absolutely nothing, especially not watching the market all day long every day. This though is not a get rich quick or waiting to hit a moon shot plan, those never work out. It is nice and steady.

 

Are you using the trading bots offered by KuCoin? I have been thinking about looking into those but I have read that if you don't set the parameters right on the asset you're employing them to trade for you that it can lose you money


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#42 Neptunechild

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Posted 02 November 2021 - 09:20 AM

 

 

I don't know what's the better call for you right now i.e buy in more now or wait for a bearmarket.

 

I'm still new to crypto and to standard investing, but if you really think crypto is here to stay; and the price will be much higher than it is now at some point; and you have a time horizon of years, you could continue dollar-cost-average into it by buying at regular intervals as the price declines.  That way you would be sure to capture the benefits of any bear market.  You would just have to have the stones to keep buying as the price declines, so if you do this you better have conviction that the price will come back up and push even higher.  For a lot of people, crypto may be too speculative for this practice.  This would help you avoid trying to time the market and possibly getting it wrong.

 

That said, if I already had enough to retire on, I'd probably pull most of it out of crypto now.  Safety first.

 

This is not financial advice and I have no idea whether it's a good idea or not.  I started learning about investing like a month ago.  Do whatever you want.  :biggrin:

 

Ethereum is gonna be the financial layer of the world, so i'm dca'in  :meditate:


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#43 Neptunechild

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Posted 02 November 2021 - 12:13 PM

If you have the capital to play with, why not employ bots to do all your buying and selling for you 24/7, this works whether bear or bull. I was doing the same as everyone else, trying to dca, trying to buy at dips and sell at peaks, and never seemed to gain much or couldn't never time the market right.
Now though, my bots are making me money all the time, 24/7 while I do absolutely nothing, especially not watching the market all day long every day. This though is not a get rich quick or waiting to hit a moon shot plan, those never work out. It is nice and steady

I'm not a trader so I thought about bots too just to have some exposure to it as a passive income.

 

I bought into 3Commas. It's a nice site and the trial is for free. Memberships are cheap aswell imo considering the money the bots can make for you.

I have an account there and you simply input your API's for the exchanges you are on and then set all the parameters for the bots and let it run.

 

I thought about using them in the bearmarket as automated short sellers too :) !


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#44 Micogi

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Posted 02 November 2021 - 05:22 PM

I'm no aficionado by any means but a dabbler for sure. I'd bought and sold some in the past and currently have some BTC and ETH in PayPal. I had been looking at selling there to re-buy somewheres else, but after finding I can use crypto as a payment option when checking out with PayPal decided to leave it be.

 

I opened an account with Vast Bank as it's FDIC insured, although I'm not sure if crypto is, and if the financial system takes a major shit, FDIC insured probably won't amount to shit.

 

My goal with crypto is just have a little something something outside fiat currency. I also have some physical silver.

 

Anyone doing Pi Coin? I've been mining it on my phone for awhile but my "security circle" sucks, only me and one other. Not sure if I can leave and join another, but if anyone is doing Pi and in a good circle, LMK. Hopefully it goes somewhere, but takes little to mine so what's the harm.



#45 Mushinist

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Posted 02 November 2021 - 06:14 PM

If you have the capital to play with, why not employ bots to do all your buying and selling for you 24/7, this works whether bear or bull. I was doing the same as everyone else, trying to dca, trying to buy at dips and sell at peaks, and never seemed to gain much or couldn't never time the market right.
Now though, my bots are making me money all the time, 24/7 while I do absolutely nothing, especially not watching the market all day long every day. This though is not a get rich quick or waiting to hit a moon shot plan, those never work out. It is nice and steady.

 
Are you using the trading bots offered by KuCoin? I have been thinking about looking into those but I have read that if you don't set the parameters right on the asset you're employing them to trade for you that it can lose you money

No I am using Bitsgap bots, its very user friendly. Yes you need to know how to set them up to benefit, but they're not as scary as they seem. I run regular bots and one hodl bot. I have 3 different exchanges running through it because some offer coin pairs that the others dont etc.
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