To automate your trading on Kraken, you can use the Bitsgap Kraken Trading Bots. In fact, Bitsgap has a range of smart trading tools and automated trading bots available for use on the Kraken exchange. For example, you can use the GRID and DCA bots and other cool features like Trailing Up and Down, Take Profit and Stop Loss, and Pump and Dump Protection Switcher, among others.
Kraken is a US-based cryptocurrency exchange that was the first ever bitcoin exchange listed on the Bloomberg terminal. Kraken is a particularly good choice for US customers as it’s available in all states except Washington and New York.
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How Does the Kraken Trading Bot Work?
The Kraken Trading Bots are used to automate your trades on the Kraken exchange. Using the Bitsgap trading interface, you can set up two types of trading bots for Kraken — DCA and GRID. Those bots will work on your behalf and follow a set of predetermined rules that are programmed to yield specific results. For example, the GRID trading bot for Kraken will build an order grid like a fishing net around a specific price. By tracking the price fluctuations, the GRID bot will continuously reap profits by buying low and selling high.
Advantages of the Kraken Trading Bot
Bitsgap offers different modifications of trading bots, letting you combine various settings and strategies to achieve better results.
GRID Trading Bot
Profit from the slightest market moves
The highly efficient crypto bot based on the grid strategy. Use it to maximize profits on every price changes in a sideways market.
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How to Launch Kraken Trading Bot
Sign up on Bitsgap
Connect an exchange
Choose your bot
Set the bot up and run it
Try Your Bot in Demo Mode
Demo Mode lets you try crypto trading with simulated funds. Experiment with your Kraken Trading Bot on various instruments and with different settings in a risk-free sandbox. The Demo Mode virtual account has all the same market conditions as real trading on the platform. Bitsgap will autonomously execute your orders, showing your actual trading results.
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FAQ
Bitsgap takes your account’s security and your funds' safety as its absolute priority. Bitsgap has only limited access to your API key and can only access your trading history, balance view, and trading activity. As an extra measure, any API key that has enabled withdrawals will be rejected. You can also switch on 2FA authentication for your account to ensure you have an extra layer of protection.
Bitsgap has two types of trading bots for Kraken, which work equally well. You can choose either the DCA or the GRID trading bots. Both bots have shown fantastic results and can be equally recommended for trading on Kraken. Provided you take good care of configuring your bot and analyzing the market, you have all the chances of receiving a decent profit.
Yes, Kraken charges trading fees that range from 0% to 0.26% of the total cost of the order and depend on several factors, such as the currency pair, 30-day trading volume, and order type (maker or taker). Bitsgap, however, doesn’t charge any trading fees, so all the fees you incur are charged by the exchange. All you have to pay for on Bitsgap is your subscription plan which starts at $ 22 a month.
