Trading bot for Poloniex

With the help of revenuebot users can conduct automated trading on the exchange Poloniex.
Poloniex is a popular American crypto exchange, one of the old-timers of the cryptocurrency market. The exchange was founded in 2014, but in 2019 it was acquired by the Circle startup, and the notorious Justin Sun was part of the investor group. That is why TRX is actively used on the exchange. The use of the revenuebot's automated trading is available for the classic Poloniex spot market. Thanks to the variety of settings available, the user of the service can create an effective trading bot and start trading in a short period of time.

Poloniex fees

Trading commissions on Poloniex depend on the daily trading volume and the number of TRX tokens in the user's account. More details about the exchange commissions can be found in the table below:

Trading commissions of the Poloniex exchange

Poloniex Plus Silver, Poloniex Plus Gold and Poloniex Market Maker statuses can be obtained upon request. The final decision on the issuance of one of the statuses is made by the administration of the exchange.

Trading security on the Poloniex exchange

Of the security measures that the exchange offers to its customers, the following are available:

  • Mandatory two-factor authentication (2FA)
  • Confirmation of the new IP address via email
  • A backup copy of the 16-digit key that allows you to regain access to your account
  • Google Authenticator connection

Automated trading

According to statistics, about 70% of transactions in the stock market are made using various bots. And given that the crypto market mainly adopts practices from traditional ones, there is no doubt that the percentage here is not less. Why are traders less likely to trade themselves and trust bots to do it? There are several reasons for this:

  • The software or bot has no human factor A trader can make a mistake when filling out an order, forget to close it, or something else. A software or a bot trades only according to the settings that were originally included in it, so the possibility of errors or inaccuracies is excluded.
  • Speed of the whole process A trader cannot analyze several trading pairs or markets at the same time. In addition, you will have to open many trades. Bots do a great job with all these tasks.
  • Versatility and scalability Having a clear trading strategy, you can run many bots for simultaneous automatic trading on different crypto-exchanges and trading pairs.
  • Trading will be carried out at any time of the day Trading bots do not need time to sleep and rest, so they can trade around the clock, making a profit for their owner.

Trading on Poloniex with RevenueBot

We have been on the market since 2018 and over the entire period of our existence, we have carefully worked out all the features of working with the Poloniex exchange. Of the advantages, the following points can be highlighted:
  • Variety in the functionality and settings of the bot, which allows you to implement many trading strategies:
    • Smart order safety grid allows you to create efficient DCA bots for the Poloniex exchange with LONG and SHORT algorithms using an averaging strategy.
    • The automatic switching of the bot's trading pair significantly increases the number of profitable trades. Using the volatility analyzer developed by us for the Poloniex exchange, the bot can automatically select the best trading pair in terms of volatility so as not to be idle.
    • Using TradingView signals as a condition for starting a bot trading on the Poloniex exchange allows you to implement strategies based on a variety of trading indicators.
    • The bot simulation mode will show how the bot you created would trade over the last 60 days (the time and date of the start of the simulation can be set in the settings). We keep a history of price changes for all trading pairs on the Poloniex exchange for the last 60 days. All tests will be carried out on the chart of your chosen trading pair, for a specified period of time. This will allow you to verify that your settings are correct or to identify inaccuracies.
    • The automatic reversal of algorithms will allow you to implement a risk hedging strategy when trading on the Poloniex exchange. At the moment when the price goes in the wrong direction, the second bot will be automatically connected, which has the opposite algorithm.
  • The user pays nothing if the bots do not generate an income. The commission for using the service begins to be charged only from the moment the bot makes a profit. The size of the commission is 20% of the profit received, but not more than 50 USD per month.
  • The user does not need to keep their computer turned on 24/7, because the bot functions from the cloud storage.
  • We have a marketplace where you can buy a ready-made bot configuration, sell a profitable one and get additional income, as well as purchase a mentoring service from an experienced user.
  • There also is a referral program through which clients of the service receive an income without even starting a trade.