Bitsgap offers two types of Coinbase Advanced Trading Bots, such as DCA and GRID. Using automated trading bots by Bitsgap you can finally stop depending entirely on yourself in trading and automate a portion of your trading activities on Coinbase Advanced.
Coinbase Advanced is a US-based digital asset exchange and trading platform that’s designed for both advanced traders and cryptocurrency enthusiasts. Compared to other exchanges, Coinbase Advanced might have higher fees and fewer assets for trade, but it also has strong security features and is available for users from both the U.S. and Canada.
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How Does the Coinbase Trading Bot Work?
Bitsgap has two types of bots for the Coinbase Advanced exchange. For example, the DCA (Dollar Cost Average) Coinbase Advanced Trading Bot follows the DCA trading strategy that is based on investing a preset amount regularly over time, thereby reducing the impact of price volatility on your portfolio. Conversely, the GRID Coinbase Advanced Trading Bot follows the GRID trading strategy that profits from price ranges in a sideways drift by placing buy and sell orders around a set price.
Advantages of the Coinbase 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 Coinbase 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 Coinbase 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
Does Coinbase Advanced Allow Any Trading Bots?
Coinbase Advanced doesn’t offer any bot solutions but allows them to connect to the exchange. By connecting Coinbase Advanced to Bitsgap, you can use both GRID and DCA trading bots to trade on the exchange. For example, if you want to profit from any particular coin’s sideways drift, you may use Bitsgap’s GRID bot. Conversely, you may use the DCA bot if you want to reduce the impact of market volatility and invest a set sum incrementally over time.
How to Monitor My Coinbase Advanced Trading Bot’s Performance?
To track your bot’s live performance, go to the Bots list below the main chart and click on the graph icon next to the bot you’d like to analyze. In the following pop-up window, you can see your bot’s performance in terms of generated profit. Also, there is an overview of your current funds, trading time, completed transactions, and other benchmarks that help you adjust your trading strategy.
What Is the Bitsgap Flat Bot?
The Bitsgap Flat bot is an automated trading tool that follows the GRID strategy. Bitsgap’s Flat bot has shown particularly good results in a sideways market when the price fluctuates within a horizontal range. The Flat bot comes with preset rules, so you simply need to specify the amount you’d like to invest and trading frequency. You can also add protection in the form of Take Profit and/or Stop Bot to hedge yourself against unexpected market volatility.
