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Wednesday, May 29, 2024

How Do You Use an OKex Trading Bot?

China was really big in crypto for a long period. While its government is way less enthusiastic about it nowadays, many businesses in this domain originating from China continue operating in the global arena. Today, you can use the OKex trading bot efficiently while trading on one of the biggest Asian trading platforms.

How can you start working with this exchange and make profits with their bots?

Why OKex bot trading?

One of the most important questions to answer is whether you need to use automation. There are several key reasons for using various types of automation. For example, you may be interested in focusing on GRID trading which is a very specific strategy, or utilizing a safer DCA method to reduce overall risks.

Here are some things to consider:

Automation works best in crypto markets. This particular industry waits for no one with its 24/7 schedule. If you want to stay competitive, utilizing bots is one of the best ways to ensure that you keep up. Robots do not require rest, sleep, or even food. They stay focused on the tasks at hand.

Bots can reduce the number of human errors. Yes, you are responsible for creating the script and coming up with a strategy. However, when it comes to placing orders, bots don’t think. They act. It means that the chance of making an error is smaller.

The cryptocurrency trading bot at OKex is fine-tuned for the platform. You may be interested in utilizing platforms like WunderTrading but there is a minute lag happening while signals are exchanged between servers. OKex native robots act instantly.

There are some benefits to using native automation solutions. On the other hand, using third-party specialized tools may be beneficial when you are working with multiple exchanges at once. It depends on your preferences and overall investment strategy.

How to get started?

You will need an active account on the OKx platform. Here’s a simplified guide on how to create one in several steps:

1.Go to the OKx home page (US citizens can use OKCoin).

2.Enter your phone number or e-mail (whichever you prefer).

3.Create a strong password and confirm your e-mail.

4.Alternatively, you can use your profiles on Google and Telegram to register.

5.Go to “Trade -> Trading Bot”.

6.Choose from “Futures”, “Recurring”, or “GRID”.

One of the biggest draws of the platform is its Futures Bot which can perform well in marginal trading with USDT. While marginal trading is never a good choice for conservative investors, those who can tolerate risks often choose futures as their main asset. OKex futures trading bots are well-designed and do not require any technical know-how to set up.

Should you choose OKex?

Many experts believe that some dangers in working with Chinese vendors do exist as the country is quite on the fence when it comes to cryptocurrencies. The government decided to prohibit mining and does not provide any support to crypto exchanges. It is quite risky to use such platforms in the long run.

The functionality of their automation options is lacking compared to companies that specialize in this field. WunderTrading has a wider range of tools and can be connected to multiple exchanges at once making it a better choice for those investors who want to implement automation in their portfolio management routines.

In general, an automated trading bot at OKex is a solid selection for investors who want to consolidate their investments within a single platform and use their native automation tools instead of referring to third parties. If you are looking for an advanced option for your portfolio, more versatile solutions can be found elsewhere.

This is Robert William, the content contributor on blogili.com. Working with different sites as a content writer.

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