How does Coygo let you trade on Coinbase?
Coinbase and Coygo
Coinbase is the biggest regulated cryptocurrency exchange in the US. The reason why this public trading company (NASDAQ: COIN) is pretty popular is its robust technological infrastructure and security measures.
Founded in 2012, Coinbase also offers a more advanced trading platform for seasoned users. Coinbase Pro (formerly GDAX) is accessed using the same login credentials as Coinbase, which is great for beginners thanks to its relative simplicity.
Both Coinbase and Coinbase Pro are free to open an account and offer a high level of security. But while on Coinbase, users can only buy/sell, exchange, and send/receive, Coinbase Pro users can do a lot more; buy/sell, deposit/withdraw, trade, stop order, and limit order.
Coinbase Pro offers individuals the ability to trade a variety of digital assets, and active traders can benefit from crypto trading bots here.
What are Crypto Trading Bots?
A cryptocurrency trading bot is a program designed to automate trades using AI and machine learning. They minimize human intervention, act on certain parameters, and are always active.
Trading bots are easy to use and extremely safe, which helps traders make successful trades.
Instead of writing their own code to implement a unique trading strategy, today, some companies provide products for a fee but with free trials. But not only those who don't have the skills to code can make the most of these tools; even those interested in creating their strategies can benefit from these services as they allow them to build their own bot from scratch.
Coygo is one such platform that offers automated trading with several strategies so that traders can capture every possible opportunity that arises in the highly volatile and 24/7/365 live crypto market. Coygo's purpose is not just to maximize profits but also to mitigate risks.
How Does a Trading Bot Work?
A trading bot works because of its robust and successful trading strategies. What it does is open and close positions on the predefined process without involving any human emotions to remove biased strategies.
Trading bots deduce insights and signals from the data fed into them. Then, bots use trading strategies to classify the data to conclude useful and actionable trading signals. Surprisingly, all of this is done in a matter of seconds.
Trading bots are either integrated with exchanges or API to place sell and buy orders on these platforms.
Trading on Coinbase with Coygo
Coygo's Coinbase trading bot demonstrates great statistics in terms of the number of profitable trades on the platform as well as money and risk management that attracts both beginners and trading professionals.
The platform allows traders to master digital asset trading with a powerful suite of tools. Not only that, here, traders can also access pre-built Bot strategies, including grid trading, swing trading, triangular arbitrage, market making, and more. Its industry-leading DIY crypto arbitrage bot, in particular, enable traders to find and act on Bitcoin and crypto arbitrage opportunities, both inter-exchange arbitrage and intra-exchange triangular crypto arbitrage, within milliseconds.
It allows them to launch several autonomous trading algorithms, enabling them to diversify the portfolio through different assets and strategies.
The platform also comes with more advanced options such as data insights, arbitrage, day trading, portfolio tracking, and features such as near-zero latency and real-time data feeds.
When it comes to security, Coygo does not save exchange credentials (API keys). Instead, the API keys are stored in an encrypted format on the trader's machine. Additionally, its servers don't act as a middleman, as all orders are submitted directly from their device.
Lastly, Coygo also supports other major exchanges such as Binance, Kraken, Bittrex, Gemini, Bitfinex, bitFlyer, Bitstamp, KuCoin, and Poloniex.
The Plans: For Beginners & Professionals
Coygo has several attractive plans that cater to both beginners and professionals. The good thing is that the user can get started without paying any fees using its free plan. If users do decide to purchase a subscription every plan includes a free trial so anyone can get started for free immediately.
When it comes to paid plans, there are two options: Pro and Casual. Pro, is suitable for active traders. If the user doesn't trade every day, they should opt for the Casual plan, which is a good choice for them as it only charges per week and also comes with a 2-day free trial. That said, there are also discounts available on these paid plans.
To get started, a user can either download the Coygo Terminal application on Windows, Mac, and Linux or use Coygo Mobile, which is accessible via web browser on a phone or computer.
Interestingly, there is no limit on the number of exchanges a user can connect or the number of trades and transfers they can make on Coygo. Traders can submit market, limit, and stop-limit orders, view real-time charts, indicators, technical analysis, and order book data analysis, and track aggregated portfolio balances and charts from every exchange. And if they encounter any issues, the Coygo team is available via live chat and email support.
Does Coinbase allow a trading bot?
Coinbase doesn't have its own bot solutions that its users can use. But users can definitely take advantage of a third-party trading bot like Coygo to make trading easier and more profitable. Coinbase offers the option to connect with third-party trading bots, meaning users must ensure all aspects of connecting and withdrawal options within the API structure.
Can I use a bot on Coinbase Pro?
Yes, traders can use a bot on Coinbase Pro and are recommended to do so for the various advanced features such as limit orders and full order books. There are several both free and paid options available out there, such as Coygo. They have to connect the trading bot to their profile on Coinbase. Once they have linked their Coinbase account's API keys into their trading bot, complete the authentication process, and they are good to go.
Are trading bots profitable?
Yes, trading bots can be profitable and are legal to use. Profit is never guaranteed though, just as trading without bots never guarantees a profit. Trading bots simply automate your strategy and remove the human element. Trading bots are recommended to increase trading efficiency, speed, and profitability while minimizing risks through automation, prediction, and advanced technology.
Does Coinbase Pro allow automated trading?
Yes, it is possible to use an automated trading bot on Coinbase Pro. In fact, it is a pretty good strategy to trade crypto easily and beat the market. As such, with these bots, a trader can create automated trading rules and have them running 24/7/365, so they never miss out on an opportunity.
Leverage Coygo Crypto Trading Bot for Successful Trades on Coinbase
Anyone who wants to capitalize on the numerous opportunities present in the volatile crypto market on the regulated and one of the most popular cryptocurrency exchanges, Coinbase, would need a trading bot.
Coygo provides an efficient, profitable, and high-quality trading bot that allows a trader to put their best foot forward without costs being out of reach for consumers. So, go ahead and check it out for free today.