FAQ

RevenueBot is automated trading software for trading on cryptocurrency exchanges that uses the application programming interface (API).

The work of the bot is based on the use of volatility rates of crypto coins. The bot can trade any pair of crypto coins available on the selected exchange.

You can run several bots simultaneously and trade several pairs of crypto coins on the same exchange or on different ones.

The bot works from the "cloud" day and night, there is no need to install software on your computer and leave it running so that the bot does not interrupt its working.

The bot works fully automatically, but it needs to be configured. Our service does not impose any specific settings and does not offer the services of fiduciary management of cryptocurrency and your finances.

We can recommend successful strategies you already have in the bot's template settings, but only you can decide how the bot will work.

Our service provides convenient interfaces for access to all possible settings of the bot, as well as complete trade and income statistics.

  1. Register on our site. Our support will review your registration within 24 hours.

  2. Have accounts on crypto exchanges where you are going to trade with the recharged balance of crypto coins for trading.
    We do not store and do not accept deposits of your crypto coins, and we also do not make any payments. All crypto coins are stored in your accounts on the crypto exchanges.

  3. Create API keys on desired crypto exchanges and add them to our service. To work with the exchange, our bot needs an API key to access the exchange from your account. The key consists of the key itself and the secret part.

    API keys need to be created only with the rights of trade, but without the rights of input-output of crypto coins from exchanges. It is necessary to follow the rule - one API key for one bot only (one trading pair). Do not use one API key for several bots (trading pairs) or for any other needs or services.

  4. Create virtual wallets in our service. Virtual wallets are used by the bot for identifying the deposit which it will operate with.

  5. Recharge your balance of the RevenueBot account.

  6. Create one or more bots and run them.

For details on each of the items of the list, read the instructions in the relevant section of the FAQ

We have neither a monthly fee nor commission for transactions on crypto exchanges. We take a commission of 20% only from the profit you receive when trading with the bot. You don‘t need to spend your money to use our bot!

To withdraw a commission, there is a balance of the RevenueBot account.

Every time a bot gets a profit, the commission is withdrawn from the account balance. Each transaction is displayed on the profile page. With a negative balance, the bot won’t start, and the running bot will stop.

It is necessary to ensure that the account balance is positive. With a negative balance, the user has 72 hours to recharge it, after that time the account will be suspended and all bots will stop trading.

Using API on exchanges, the bot opens new trades following the selected algorithm and tracks how they are executed.
Nowadays there are two algorithms the RevenueBot works with:


«Long» Algorithm

The work of the bot is in cycles and is based on the principle of buying cheaper when the course falls (the initial part of the cycle) and selling for more when the course increases (the final part of the cycle). The idea is that having a certain deposit, the bot does not buy the entire amount at once, but in parts when the price falls, using the order grid calculated in advance.

The first order in the grid is the closest to the current price and the smallest in volume. Each subsequent order is more voluminous (the martingale system is used) and cheaper. Therefore, when the price falls, the bot buys more and more, but at a lower price, which allows you to make a final profitable trade, selling everything you bought at a price much lower than the bot have started buying.

To make such a transaction, we make a profit, the bot calculates everything and starts a new cycle of work. Profit is obtained in the second coin of the traded pair. The success of such trading is determined by the number of orders in the grid, the difference in their weights, the distance between them, the indent of the first order and how deep the last order in the grid will be from the current price.

All these indicators can be set in the settings. Details on each of the settings you can find in the FAQ section on creating a bot.


«Short» Algorithm

The working principle is the same as that of the long algorithm, it is based on the sale when the rate rises and the buying when the rate drops.

Depending on the settings, the bot calculates and places a grid of sell orders to sell more and more as the price rises.

After that, the bot tracks the placed orders and, if they are executed, it places a buy order at a lower price than they have been sold.

In this algorithm, profit can be obtained in the second coin of the traded pair or in the first one.

Profit in the first coin is suitable for example for those who hold promising altcoins for a long time and want to increase their initial deposit in altcoin by trading them to btc and not to earn in btc.

The following exchanges are currently connected:

  • Bittrex
  • Bitfinex
  • Binance
  • Cex
  • Poloniex
  • Exmo
  • Livecoin
  • Huobi
  • Kukoin

You should create a key on the exchange. API keys need to be created only with the possibility of trading, but without the possibility of withdrawing the crypto coins from the exchange.

To add an API key to our system, go to the member zone, then - to the API Keys tab and open the ADD NEW API KEY menu, where you should enter the following:

  • Name of the API key. Choose such a name for the key that can be easily identified.
  • Select the exchange in the drop-down list
  • Enter the API key
  • Enter the code to the key.

To create a virtual wallet you need to go to the member zone, then to click on the Wallets tab and open the CREATE NEW WALLET menu, where you can enter the following:

  • Name of the wallet. Choose such a name for the wallet that can be easily identified.
  • Comment to the wallet for convenience. (Optional).
  • Select the exchange in the drop-down list.
  • Select a crypto coin in the drop-down list.
  • Enter the amount or per cent of the deposit in the account on the stock exchange. Here you can select the appropriate API key to check online balance of the coin on the exchange.

When you create your account, a BTC wallet is automatically created and connected to it. Account balance can be recharged in the Dashboard tab or on the profile page.

To do this, click on the Top-up balance link, then a window opens where you can copy or scan the QR code of the BTC wallet to which you need to make a transfer.

To create a bot you need to go to the member zone, to choose the Bots tab, open the CREATE NEW BOT, where you should enter the following:

  • Bot name: The name of the bot.
  • Exchange: Select the exchange in the drop-down list.
  • Pair: Select a traded pair of crypto coins.
  • API key: Select an API key from previously created ones or create a new one.
  • Depo: Choose a virtual wallet from previously created ones or create a new one. For convenience, you can check the balance on the stock exchange online.
  • Commission: Select the commission option that will be used by the exchange. This setting is relevant only for the Binance exchange, because it is possible to pay a commission in the third token that does not participate directly in current trading (BNB token).

    To use this type of commission, it is necessary to activate it in the account of the Binance exchange. We recommend you always to use this type of commission payment on the Binance exchange as it is cheaper.

    It is only necessary to monitor that BNB amount on the account. To do this, our bot checks the BNB balance before each launch and if the balance is less than necessary, the bot does not run and sends a notification to the user with information to recharge the BNB token balance to start trading.
  • Algo: Select the algorithm for the bot. After selecting the bot algorithm, the user is prompted to use the bot settings templates, such as: Light trade mode, Normal trade mode or Extreme trade mode.

    When clicking on the template, the settings are automatically filled. You can skip this step and set each of the settings by yourself. You can create your own templates as well.

The main settings of the bot:

  • Rate cover: The rate cover of price changes. This value sets how many per cent of the current price the last order in the order grid will indent.
  • First order indent: Indent of the first order in per cent. This value sets how many per cent of the current price the first order in the order grid will indent.
  • Price rate to use: Select the rate on the exchange from which to calculate. It can be such rates, as buy, sell, avg, last.
  • Orders matrix, martingale: Order Grid and Martingale. Here you can specify the number of orders in the grid and martingale (by how many per cent each next order in the grid will be weightier than the previous one). Here you can also see which grid of orders you will have. To do that you should click the View orders matrix button.
  • Profit: Here you can set the profit in per cent that will be used by the bot when calculating the price of the completing cycle of the order.
  • Profit coin: This setting is available only for the short algorithm. It sets in which of the traded coins there will be a profit.
  • Cycle up:It happens sometimes that the bot has placed an order grid, and the price has changed radically. So you need to wait for the price to recover and it can last long.
    This waiting can be avoided by setting the updating of the order grid to the current price. Here the percentage is set, and when it is reached, the current order grid is canceled and a new one is set.
  • Sleep before cancel orders for cycle up: Here you can set the delay in minutes before starting to cancel the current order grid when the Cycle up setting goes off.
    This setting allows you to avoid frequent cancellations of the current order grid when the price has changed in a very short time and recovered.
    You can wait a bit in order not to cancel the current order grid unnecessarily.
  • Sleep before cycle up after cancel orders: Here you set the delay in minutes before setting a new grid after cancelling the previous order grid.
    This setting also allows you to avoid negative consequences if the price has changed in a very short time and recovered.
  • Sleep after end of cycle: Here you set a delay in minutes before starting a new cycle after the end of the current cycle.

Additional settings:

  • add revenue to depo: When making a profit, you can add it to the depo, which the bot uses, and increase the deposit in such a way.
    When the setting is on, the entire profit from the bot is transferred to the virtual wallet that is used by this bot.
  • logarithmic scale for orders: Usually, the order grid is calculated so that all orders are arranged linearly there, at the same distance from each other over the entire price overlapping.

    During small fluctuations, there will be the smallest orders in the grid executed.
    To involve more deposit in the trade during small price fluctuations, you can use the logarithmic distribution, which will increase the density of orders close to the current price and will reduce the order density when moving away from the current price.

    The order density can be configured for different situations in different ways using the logarithmic factor by increasing or decreasing it. Here you can also see which order grid you will get if you click the View orders matrix button

  • cost limit: Use this setting in order not to start buying orders too expensive and not to sell them too cheap. It sets the maximum price above which the bot will not start the cycle for the Long algorithm, as well as the minimum price below which the bot will not start the cycle for the Short algorithm.
  • fix first partial order with profit: It happens sometimes that the first order in the grid has been partially executed, but the price changed rapidly. This happens when the bot operates a large deposit and the orders in the grid are quite voluminous, even the very first one.

    In such a situation, you can wait a long time for the price to recover and for the order to be fully executed so that the algorithm can continue working.

    By enabling this setting, you can set a percentage of profit for calculating such a price, by reaching which you get a profit, if you cancel a partially executed order and put the order that completes the cycle for its full sum. After all, the price has changed so, that we can get a profit, just the order turned out to be too voluminous.

To understand how to control the bot, there are all possible bot’s statuses and states mentioned below.

  • «Stopped» Status «Normal» state

    The bot stopped working. The bot is in this state and status immediately after it has been created.

  • «Stopped» Status «Waiting to start» state

    The bot stopped working, it will be launched soon. The bot has this status and state after the stopped bot has just been launched.

  • «Running» Status «Normal» state

    The bot is running. The bot has such a state after it ran, all the checks has been passed and the bot ran successfully.
    You can see the placed orders and work statistics.

  • «Running» Status «Waiting to stop» state

    The bot is running, it will stop after the cycle is completed. The bot has this state after it has been stopped. The bot is waiting for the cycle to complete, then it will stop.

  • «Running» Status «Paused» state

    The bot is on pause. The working bot is in this state, when it is paused

The bot can be controled in the Trade Statistics tab where you need to click on its name in the output table of all created bots.

The bot control menu will open where the following information is displayed:

  • the name of the bot
  • current status and state
  • current rates on the exchange for the pair traded by the bot, which can be updated
  • bot control buttons

Bot Control Buttons:

  • Start — It runs the bot.

    By clicking it you will change the bot’s state to the Waiting to start and it will run soon.

  • Stop — The running bot will stop.
  • When you click it, the bot will switch to STOP after completing the current cycle.
    It is necessary to wait for the current price on the exchange to become equal to the price of the order, which completes the bot's cycle of work.

    To stop the bot immediately, you must either cancel all active orders, or replace the order at the current price on the exchange, which will complete the current cycle of the bot, then the bot will cancel the remaining active orders.

  • Pause — It pauses the bot algorithm.

    The bot will stop tracking what is happening on the exchange, and namely – it will place new orders and remove active onec until the status will be changed to the Running.

  • Edit — When you click on the Edit button, the settings of the bot open.
  • Cancel Orders — When you click on the Cancel Orders button, the bot will cancel all active orders.
  • Re-set fix order — You can re-set the final order in the cycle at a new price.

    If you click on this, a menu with the current price of the order will open:

    • Current price of coins on the exchange, which can be updated,
    • The price at which the cycle ends without profit and loss,
    • Price calculator with a desired profit in per cent,
  • Mark last cycle as canceled — In abnormal situations, for example, when you performed any actions on the exchange manually or some kind of error occurred in the bot work.

    This function allows you to mark the last cycle as canceled without calculating the profit and changing the deposit.

he bot statistics is available in the Trade Statistics tab. The detailed statistics on the cycles of the bot, as well as orders in each of the cycles can be found here.

Statistics and statuses of the bot’s cycles:

  • Active — Highlighted in blue.

    Cycle is in the operation, active orders are on the exchange. You can find information when the cycle has been started, which pair is traded and what is the amount of the deposit

  • Canceled — The cycle is canceled.

    The cancellation occurred either due to the order grid changing closer to the current price on the exchange or when the user manually canceled the active orders.

    You can find information when the cycle has been started, which pair is traded, what is the amount of the deposit and what profit you have

  • Completed — Highlighted in green.

    The cycle is completed normally. You can find information when the cycle was started and completed, which pair is traded, what is the amount of the deposit and what profit you have.

Order statistics in the cycle:

When you click on the cycle number, you go to the detailed statistics on orders. You can find information on the entire order grid in the selected cycle. You can view all the data on the order:

  • date of creation / cancellation / completion
  • type buy / sell
  • traded pair
  • order number in the cycle
  • the volume of the first coin
  • volume of the second coin
  • price
  • current status

Order statuses:

  • ActiveThe order is active on the exchange. Highlighted in light green (if it is a buy type) or in light red (if it is a sell type).
  • CanceledThe order is canceled.
  • Part canceledThe order is partially executed. This happens when a large deposit is used and orders are voluminous or when price changes rapidly on the exchange.
  • CompletedThe order is fully executed. It is highlighted in dark green (if it is a buy type) or in dark red (if it is a sell type).

Just try it!No subscription fees.You pay only when you get profit.

With the automated crypto trading RevenueBOT you can earn money on your favorite exchange automatically. Auto buy and sell Bitcoin, Ethereum, Litecoin and other cryptocurrencies.