Crypto grid bot trading has a special place in my investing + trading strategy. If it is done right, it could help anyone compound their investment in a short time. Grid bots could do wonders, especially for investors who don’t want to become full-time traders but still look for ways to take advantage of the high volatility of crypto-assets.
In the past, I have shared many guides and tutorials about grid bot strategy. Today, we will look into the Binance Spot market grid bot strategy. This is the newest addition by Binance and will help you make more money when the timing is right.
Note: Binance also offer futures market grid bots. This gives you an opportunity to go long or short with your grid bot strategy.
If this is your first time on CoinSutra, here are previous guides and videos to help you learn about this technique.
We also have a dedicated course and support group for grid bot trading. Head over to https://vip.coinsutra.com to join our instant access membership and private discord group. Here is the first sample video from the course.
Before I share more details about Binance grid bot strategy, let’s do a quick recap of grid bot trading strategy.
What is Spot Grid Trading?
Grid trading is a quantitative trading strategy. It starts with setting a lower and upper limit with a pre-configured profit-taking range. From here, the trading bot automates your buying and selling process for a profit.
It works the best when you pick a pair from a sideways or bull market and is highly volatile. Picking the right pair and right entry is the trick to maximize your profitability from this quantitative trading strategy. I have shared this in detail in our course.
How To Start Your First Binance Spot Grid Bot?
Here is how you can start using your first Binance spot grid bot.
If you don’t have an account in Binance, sign up using this special link to save money on trading fees.
Note 1: You can only have one KYC‘d Binance account. You can open a new KYC account under your family member’s name.
Note 2: Binance spot grid bot strategy can be executed on mobile and desktop. For its tutorial, I will show you how to run the strategy on the desktop version of Binance. You can run the same strategy on Binance mobile app too.
Here is how you can access the grid bot on Binance mobile app.
Here is how to run this strategy on the Binance desktop/web version:
- Login to your Binance account
- Click on trade > Strategy trading
- Select the pair
From the left side, select the pair in which you want to run this strategy. As I said above, selecting the right pair is key as it helps maximize your profits.
- Set parameters
If you have used a tool like Pionex or Bitsgap in the past, you will have no problem setting up the parameter. If this is your first time and you are serious about making money from the Binance spot grid bot strategy, I highly recommend you to join CoinSutra VIP (pay in crypto) to learn.
For example, I have selected BTC:USDT pair and used the lower limit as 37000 and the upper limit as 45000. The number of selected grids are 35, which offers 0.31% – 0.41% profit/grid.
You can also set the trigger price to find an optimum entry, set stop los,s and take profit target. Once you are ready, click on create.
Based on your set parameters, the bot will start automatic trading right away or at the trigger price.
How To Check Current Running Bots?
On the same strategy maker page, you will find all your running bots and historical bot data.
Click on the icon to for a detailed order page. You will see more data around your past or current running bots.
Binance grid bot (spot) – Important Tips
Where are my Binance bot funds?
- When you start a grid bot (spot or future market), Binance will automatically move the required funds to a wallet called “Trading bots” wallet. And as your grid bot finishes, the funds will move to respective spot or future market.
- You can take advantage of 25% discount on trading fees using BNB. However, when the bot is running, it will not directly use BNB initially, and later, BNB will be credited to your spot or futures wallet after the bot stops executing.
In Conclusion: Binance Spot Grid Bot
Binance Spot grid bot adds another trading strategy to your arsenal. You can use this strategy based on market conditions and generate alpha.
It will be interesting to see how dedicated crypto grid bot software make a difference in this growing competitive ecosystem.
Also, check out: Binance Sub-accounts feature
About Harsh Agrawal :
An award-winning blogger with a track record of 15+ years. He has a background in both finance and technology and holds bachelors degree in Information technology and engineering.
An international speaker and author who believes in the future of blockchain and the applications of the crypto world.
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Harsh has 15+ years of experience in Fintech and 7+ years in Blockchain and Bitcoin. He has also moderated the panel of Blockchain experts and attended international blockchain events like BTCMiami, Mainnet Messari, and Token2049.