Negosentro.com | TradeSanta: A Trading Bot for Binance | If you are an online trader, then you must be familiar with trading bots; they are a cloud-based third party API integration with well-built interface but simple designs. So, both professionals and amateurs can use and earn profit with it. As you may have seen, the cryptocurrency exchange platform does not offer many tools to trade with; all they have are pretty basic. Staying a step ahead of everyone else will require you to think ahead, hence the automated trading tools.
TradeSanta is one of the new trading bots to come into the market, but they have already gained over 20 thousand active users, and their count of closed deals using TradeSanta trading bot has crossed a million. TradeSanta is affiliated with 6 of the top exchange platforms – Binance, HitBTC, UPbit, Bittrex, Huobi, and Bitfinex. These platforms belong to the top tier that are leading the market by providing you with all the useful services; investing in them will prove to be better than investing in other marginal exchanges and lose capitals.
In this article, I’ll fill you in with the descriptions of tradesanta trading bot for binance and all you need to know about. Please read till the end for a thorough understanding.
How to use TradeSanta with Binance?
Once you log in or sign up to your TradeSanta Account, which doesn’t require any personal information, go to the left menu and click on “Access Options,” then enter “Add Access,” which will be inside the “All access.” Then create an API key for your access point, and you’re done connecting your account to binance; remember that every access point will need different API keys.
Later, to create a bot, got to “Trading Bot,” then choose “create.” You’ll have to select the desired exchange to deploy it – in our case; it will be binance. Then select strategies, and you’re good to go. See, it’s that simple.
TradeSanta: Tools and Features
Automated trading software is designed to offer you advanced features that are readily available in the exchanges, such as many indicators, commands, tools, and services. TradeSanta has made a place for itself in the market by the short time it has been operating. Soon they are going to expand their business by supporting two more large crypto platforms, BitMEX and OKEX.
To enhance the trading experience in binance, the TradeSanta user will be offered some options to choose from while selecting the automated bot templates. Also, they will be benefitted from a load of services that the non-bot user binance trader cannot relate. As examples, I can mention,
- Easy to use: Straightforward design, making it easy to use and apply. It might be the first trading bot you ever used, but as the software is very smartly laid out, you won’t find any complexities to work it out yourself with just a bit of effort.
- Fees: TradeSanta with binance is free; neither does it have any trading fees attached to it. TradeSanta currently offers four types of plans.
- Minimum Plan
- Basic Plan
- HitBTC Promo Plan
- Maximum Plan
The minimum plan is the free package and has the least to offer compared to others just as the name suggests, which is you can use up to 2 bots. But by upgrading to basic plan, $15 per month, you can push the number up a bit, 49 bots per subscription. And the number of bot gets unlimited in the maximum plan with a monthly subscription of $100.
The HitBTC Promo is a special package sponsored by HitBTC, $20 per month, and you can enjoy 0% trading fees on the said exchange platform.
- Useful Trading Strategies: With TradeSanta, you can apply trading methods suiting to your trade type from the numerous options they offer. Such as the popular analysis tool, Bollinger bands, you can use it as a trigger to open a trade, which is based on the last 1.5 hours of the trades with 5 minutes’ interval.
Then there is the martingale strategy, which is based on the theory that the purchases at a lower price will balance the losses of trader as the market goes to his favor. Suppose, if the value of ETH drops, the method will initiate purchases each time a bit larger than the last, thus balance the loss and profit.
In binance, if you feel a trade is not favorable after entering, you can resort to Extra Orders method provided by TradeSanta. That will increase the position and make small moves, making it earn more significant profit, hypothetically so that there grows a possibility to turn the table.
If you choose to enter at the market price, on the first ask, the order will be placed, and you can buy or sell an asset right then.
- Technical Indicators: These indicators help the bot to analyze and calculate the next steps better, so you don’t lose any winning trade for analyzing error and make the most from the trades.
- Day and Volume Filters: By analyzing the trades from the previous day, the bot calculates if a trade should be opened or not. Similarly, if the volume condition of the market is right, then the bot will open a deal, otherwise not.
- Fully Secured: Even though the bot will control your trades, it will do so as your command, bots as in TradeSanta, has no authority to make any deposits and withdrawal. They operate through API keys, and the transactions will place after your two-factor confirmation.
- Community and Connections: No matter what package you subscribe to, you will immediately be the part of the big Telegram community. In this platform, you can seek help from those with experiences or help the beginners, share discussion, trends, and many more. You can reach the customer care through this platform.
Conclusion: TradeSanta is an excellent option if you’re searching for an automated crypto trading software, and it has such straightforward functions that you won’t face any difficulty that cannot be solved. It also has a smartphone and iPhone supported version, so trading without computers is also possible. But you have to remember that trading bots aren’t some genies that can make your every trade a success. You have to use the bots with settings according to the trade to maximize profits and, at the same time, minimize loss.