What are Trading Bots?
Trading Bots allow Crypto.com Exchange users to profit or build their positions by automatically placing orders based on pre-set parameters. By setting up a Trading Bot, users do not have to constantly monitor market activity. The Crypto.com Exchange now offers the Dollar-Cost Averaging (DCA) and Grid Trading Bots.
What are Dollar-Cost-Averaging (DCA) Bots?
Dollar-Cost-Averaging (DCA) Bots are automated trading Bots that allow users to automatically buy and/or sell crypto at regular intervals over a preset time frame. DCA trading is used by investors who would like to reduce the influence of volatility and accumulate/decumulate positions gradually. This allows users to average the price of their tokens by buying a set amount over a certain period of time.
How to create a DCA Bot?
Any verified Crypto.com Exchange user can create a DCA Bot. DCA Bot can be created for all available spot pairs besides the Discovery tokens. There are two ways to create a DCA Bot: Auto and Manual. Auto allows users to create a DCA Bot in just three steps. The Manual method is for advanced traders who want to specify a greater number of parameters.
Auto:
In the Trading Bots page, tap ‘Create a Bot’ on a token you would like to use the DCA Bot on.
Here, you will need to fill out the following parameters:
Buy / Sell Every - set a frequency for the recurring buy/sell order
For - the duration that the bot will be running for
You can then set the following:
Buy / Sell Per Order - input an amount of how much you would like to buy or sell, or
Total Investment - an aggregated amount that you would like to invest
Base Currency
Change - select a date that you would like the Bot to start buying/selling
*Please note that the DCA Bot will place an order at the token’s market price by default
3. Once the parameters have been filled in, tap ‘Proceed’ and the DCA Bot will be finalised. You will receive a confirmation prompt for your new DCA Bot. Additionally, you can name your DCA Bot if you would like to.
4. Read the Trading Bots T&Cs. Confirm that you have read and agree to the T&Cs after reviewing them.
5. You have successfully created a DCA Bot. You may view its full details under Dashboard > My Bots > DCA Bot.
Exchange App
In the Trading Bots page, tap ‘Create Now’ or the ‘+’ button, or a token you would like to use the DCA Bot on. Alternatively, tap on the Trading Bots icon in the Trade page
2. Here, you will need to fill out the following parameters:
i. Buy Per Order - input an amount of how much you would like to buy or sell, or
ii. Total Investment - an aggregated amount that you would like to invest
b. Base Currency
c. Frequency - set a frequency for the recurring buy order
d. Duration - the duration that the bot will be running for
e. Time of First Buy - select a date that you would like the Bot to start buying/selling
f. Edit - you can name your DCA Bot if you would like to
3. Once the parameters have been filled in, tap ‘Proceed’ and the DCA Bot will be finalised. You will receive a confirmation prompt for your new DCA Bot.
4. Read the Trading Bots T&Cs. Confirm that you have read and agree to the T&Cs after reviewing them.
5. You have successfully created a DCA Bot. You may view its full details under Home > My Bots.
Manual:
Any Crypto.com Exchange user can create a DCA Bot on the platform. In the Spot trading page, select a pair you would like to use a DCA Bot for.
Beside the Spot tab, select Bots. Here, you will need to fill out the following parameters:
Buy or Sell - select whether you want to have an automated buy or sell order
If you are opting to sell, ensure you have an available balance for the chosen token
Buy / Sell Every - set a frequency for the recurring buy/sell order
Time of First Day - select a date that you would like the Bot to start buying/selling
Buy / Sell Per Order - input an amount of how much you would like to buy or sell
Order Type
Market - the DCA Bot will place an order at market price
Limit Order - if selected, you are required to set a Limit Price. The limit order will be an Immediate-or-Cancel (IOC) order, i.e. the order must be filled/partially filled immediately, and the unfilled portion will be cancelled.
Max. Number of Orders (optional) - set a maximum number of orders to be placed
3. Once the parameters have been filled in, tap the Buy/Sell button for the DCA Bot to be finalised. You will receive a Confirmation Prompt for your Bot. If you wish, you can name your Bot.
4. Read the T&Cs on the Trading Bot. After you have reviewed them, confirm that you have read and agree to the T&Cs.
5. Your DCA Bot has been created successfully. You may view the details under Dashboard > My Bots > DCA.
What if I want to create a DCA Bot for more than one coin?
Crypto.com Exchange allows users to create a Crypto Basket, letting them purchase multiple tokens in one click. Creating a Crypto Basket grants users the opportunity to easily diversify their portfolio. The Basket can be customised to align with your risk appetite and investment goals.
How to create a Crypto Basket?
Click Create Now under the Crypto Basket section. Alternatively, you can select from a list of suggested Baskets.
Next, you will need to fill out the following parameters:
Buy Every - set a frequency for the recurring buy/sell order
For - the duration that the trading bot will be running for
Base Currency - select the token(s) you would like to invest in on a recurring basis. You can select up to 10 coins. Additionally, you can set an allocation percentage that you would like to distribute your investment amount to.
You can then set the following parameters:
Buy Per Order - input an amount of how much you would like to buy
Total Investment - an aggregated amount that you would like to invest
Quote Currency - select the quote currency you would like to purchase your tokens with. Please note that the resulting trading pair needs to be supported on the Crypto.com Exchange in order to successfully create the Bot.
Change - select the date that you would like the Bot to start buying/selling
Once the parameters have been filled in, tap Proceed to finalise the DCA Bot. You will then receive a confirmation prompt for your Bot. If you wish, you can name your Bot as well.
Read the Trading Bot T&Cs. After you have reviewed them, confirm that you have read and agree to the T&Cs.
You have successfully created a DCA Bot. You can view the details under Dashboard > My Bots > DCA.
How to view your DCA Trading Bots?
To view your Trading Bot, navigate to your Dashboard. Here you will be able to see a snapshot of your active Bots and your overall P&L from the Bots.
To view your Trading Bots in detail, navigate to Bots > DCA Bots. There is also an option to filter Trading Bots that are Active, Paused, or Ended.
The details displayed are:
Bot Name
Buy/Sell (Base Currency)
Every (Frequency)
For (Duration)
Investment Made
Accumulated Tokens
Total PnL
Current Duration
Status
If there is a DCA Bot that you would like to view in greater detail, simply click the row you wish to get more information about.
How do I edit an existing DCA Trading Bot?
Within your Dashboard, navigate to My Bots > DCA Bot screen.
Select a Trading Bot that is currently Active.
Click onto Actions > Edit Bot
A prompt will pop-up, and the following are parameters that can be updated:
Bot Name
Frequency (Buy/Sell Every)
Buy/Sell Per Order
Order Type
Max.Number of Orders
* Please note you will not be able to edit the “Total Investment” amount.
For Basket DCA Bot, you could also remove and add coins you would like to invest in. Please note that the coins you have removed, the accumulated coins will remain in your wallet
Once complete, click Proceed. You will see a summary of your update. After your review, click Confirm.
Can I pause my DCA Trading Bot?
Yes, you can pause your DCA Trading Bot. There are two ways to do it:
In your Dashboard, navigate to My Bots > DCA Bot.
Select a Trading Bot that is currently Active.
Click onto Actions > Pause Bot.
A confirmation prompt will pop up. After reviewing it, tap Confirm to pause the selected Bot.
How do I resume my Trading Bot?
In your Dashboard, navigate to My Bots > DCA Bot.
Select a Trading Bot that is currently Paused.
Click Actions > Resume Bot.
A confirmation prompt will pop up. After reviewing it, click Confirm to resume the selected Bot.
Can I terminate my Bot before the End Date is reached?
Yes, you can terminate your DCA Trading Bot before its End Date. Follow the steps below:
In your Dashboard, navigate to My Bots.
Select a Trading Bot that is currently Active.
Click onto Actions > End Bot
A Confirmation prompt will appear with the selected Bot’s details. You could choose either to sell accumulated coins or Retain balance in your wallet.
For Basket DCA Bot owners, please note if you choose to sell accumulated coins, this only applies to the active coins in your basket (not including the coins you have removed if applicable).
After reviewing it, click End Bot.
Does the DCA Bot have any fees?
There are no additional fees for using the DCA Bot.
The fees incurred are the same as if you were to place a Limit Order on the Spot Trading Page.
To view the fees incurred from the DCA Bot, refer to the Wallet > Transaction page.