12 January, 2021 

An Overview of Cryptorg Trading Bot on BTC-Alpha

Recently BTC-Alpha has provided an option of trading with the usage of a bot. It was created by the developers to help the platform's customers to trade without spending much time and effort. The program has built-in algorithms that are able to perform AI-enforced technical analysis of the market and determine the best spot to enter the market based on the analysed data.
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An Overview of Cryptorg Trading Bot on BTC-Alpha

You can set up the bot according to your specific needs and trading style to use all the options it provides more efficiently. It doesn't require downloading on your device; just register on BTC-Alpha exchange and you can start using it. However, it will be better if you verify your account to get access to all the options BTC-Alpha offers for trading.

What Can Cryptorg Trading Bot Do?

Cryptotg is a kind of mesh or Grid bot. Here's what it can do.

  1. Open and close usual and safety orders. It places the safety longs lower and shorts higher than the initial entry point.
  2. It can open new orders if the previous ones work.
  3. Stop trading as soon as the desired amount of deals per day is achieved.
  4. A trader may choose a proper time frame and technical indicators for trading. Bot decides when to enter the market based on this and performs the first deal as soon as the conditions are appropriate.

But you can also trade without indicators. In this case, bot will start a new order immediately after the previous one was closed. So it actually helps to trade more efficiently and does a great part of your job. But it can happen only if you set it properly, and for this you need to have a good knowledge of the market and understand things that can happen with the pairs you are interested in.

How To Use A Bot?

To use a Cryptorg bot on BTC-Alpha, you need to register on a bot's website. After this, you need to link your BTC-Alpha account with your Cryptorg account with the help of API key.

Follow the steps below.

  1. In your personal cabinet, find a tab "Accesses of exchanges".
  2. As you choose "New Access", a menu opens and you need to fill in the name of your bot and of the exchange you want to link it with.
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  3. To create new access to the exchange, you need to create an API-key on the BTC-Alpha website. Read the docs carefully before you proceed.
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  4. Then you'll get an email with the instructions.
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  5. After the API-key is created let's get back to a Cryptorg website and enter our freshly generated key into the requested field.
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    Here you can learn more about the bot's options, principles of work, and also FAQ.

The Bot's Settings

Robot name – to make the process easier for you to trade, you can name a bot as a trading pair if you use several bots at once.

Access – obviously, the name of the exchange you work with. Pair – obviously as well, a trading pair you choose to deal with.

Strategy – long or short position.

Leverage – the amount of credit you need to add to your balance to trade. This isn't a necessary feature; you don't need it to trade on BTC-Alpha or a SPOT market.

Take profit – the bot's profit from each trade in percentage. You put it up right after the initial order is open. The volume of the first order – the amount of the first purchase after the order is open.

The volume of the safety order – the amounts of the next safety orders put up by the bot. It can't be less than the initial order.

The downside of a putting up of a safety order – the percentage to put up safety orders.

Martingale – with this option on, you may increase the rate of your purchases. Be careful with this and don't put up more than 1.10 if you are not into taking high risk.

Limit the number of cycles – with this option on, you can set up the bot so it will automatically stop working after performing a certain amount of orders (successful take profits).

After this, a trader can analyze the work done and activate the bot again with any other parameters of his choice.

A number of safety orders per trade – this is also self-explanatory, the more safety orders, the more price drawdown you can withstand.

A price limit – you can choose upper or lower limits, both at once or skip this feature at all.

Technical signals – you can choose moving averages, their crossing, oscillators or skip it as well.

Extra – you can choose rather a market or a limited price. We highly recommend you to put up your first order with a market price to get the bot to work at once and avoid partial deals.

The BTC-Alpha team made a test with the bot for you to see what it can do. This is how we set it up for a short of LTC/USDT as an example. As you can see we didn't use the options of price limit and technical indicators for trading.

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Here is the result of the work done by the bot. It was launched on December, 25th with an exchange balance of 3000 USDT. As you can see, it made a $389,64 in profit.

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Trading With Cryptorg Bot On BTC-Alpha

This is how trading with the bot on BTC-Alpha looks like. Here you can see orders open and closed by a bot, and also the amount of the coins it had purchased. You can see it has already bought a certain amount of coins. It took several orders it had closed afterward. The more deals it makes, the more profit you get.


Pros and Cons

The automated process and technical analysis are definitely useful features. The bot will help you trade less but with better results due to the scrupulous machine-performed analysis of the market. – If you aren't acknowledged enough in the crypto market processes, you might struggle to set it up properly to make it trade better than you do. This is why it's better to choose trading with bot if you already have some experience in trading crypto. Newbies should learn more about the crypto market and trading before using it, because it's essential for making it work efficiently for your profit.

Another Option To Earn Money With The Cryptorg Bot

The bot also has its own token CTG that enables you to get profit with the option of the so-called trading mining. It's an ERC20 token on Ethereum's blockchain. You get these tokens as a reward for every successful deal made with the bot. They can be withdrawn to the external wallet if you fill in a special form. But we recommend you not to do it because the more CTG tokens you hold on your Cryptorg account, the bigger your reward is.

You can also trade this token on BTC-Alpha. Learn more about it here if you are interested in this option. If you have any questions about the token or bot, you can reach Cryptorg's technical support. Shoot an email to [email protected] or join their chat in Telegram to ask your question or solve any problem. There is an English chat, and also a Russian one.

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