Satoshi Trading Bot: Frequently Asked Questions

My bot is set up but it does not start

When you have everything set up, it will take at least a few hours before the bot starts trading (makes its first purchases). Make sure you have everything in Euros on your exchange account, as the bot needs to start from Euros to buy its positions.

Can I trade on the same account with my bot that I use for manual trading?

While it’s possible, it’s more convenient and organized to keep them separate. For a clear overview, it’s easier to separate them. Consider using LiteBit for your manual trading, a good Dutch exchange that is easy to use!

What is the minimal purchase amount per trader?

The minimum amount for each trader is 50 euros. So, a 50 euro investment would be the minimum amount to get started. The bot works best with multiple traders on different cryptocurrencies.

I want to take my money out. Can I sell my positions manually?

In the menu, there is a section called ‘Purchase transactions,’ and behind every transaction (on the right) is an arrow that allows you to sell the position directly.

Should I put my investment capital in the bot?

No, the investment capital (Euro) should always be kept on your exchange. Your credits are just the fee the bot uses for every profitable transaction. Ensure not to put all your capital as credits. For example, if you put a thousand Euros on your exchange, you can put 50 euro credits on the bot.

How is the average purchase amount determined?

The standard is 18% of your total investment in Euros, but you can change that in ‘Settings’ under ‘Average purchase amount.’ The recommendation is to use 1/15th of your total amount of Euros.

Can I try the bot without real money?

Yes, you can use the simulator mode first, which allows you to see how the bot performs without using any Euros. It’s also ideal for trying out different strategies.

How can I try the simulator mode?

You can activate the simulator mode by adding a stock market called “Simulator” in the settings. Set the starting capital and follow the normal steps for setting up the trader.

What is Satoshi?

Satoshi is the smallest unit of Bitcoin, similar to how cents are for FIAT currency. The Satoshi Trading Bot is built to accumulate more Satoshi and honor Satoshi Nakamoto, the founder of Bitcoin.

What cryptocurrencies does the Satoshi Trading Bot support at Binance and Bitavo?

At Binance: BTC/ETH/ADA/XRP/BNB/LTC/BCH/LINK/EOS At Bitavo: BTC/ETH/ADA/XRP/BNB/LTC/BCH/LINK/EOS/BSV/RSR

What is the difference between the UpDown and the BBT strategy?

BBT Strategy: Only buys when the price trend turns from falling to rising and sells only when the price trend turns from rising to falling. UpDown Strategy: Buys continuously when the price drops and sells as soon as the return percentage is met. This strategy looks at the 1-minute candle.

Best exchange to use?

ByBit is a good platform to use as it is relatively cheap compared to other exchanges, making it great for trading.

How does the bot perform compared to HODL?

The bot only sells transactions when they are profitable, so you cannot make a loss. Over the past few months, there have been comparisons between HODL and the bot, showing the bot’s potential performance.

How can I determine my profit?

The profit is determined by the difference between the purchase price and the selling price, minus the transaction fees. The bot sells transactions when they are at a profit, so you need to set a return rate higher than the transaction fees to make a profit.

I have problems with my API key. It says it’s incorrect.

If your API key is incorrect, you may have turned on options that are not needed yet. Ensure that the cash withdrawal function is off because the bot only takes orders and checks the account.

Where can I find which market strategy was used?

You can find the market strategy used in the purchase transactions section. Click on the information icon (letter I) behind the transactions to see the market strategy used.

How does the simulator mode work?

The simulator mode allows you to see how your intended investment capital performs with the bot. It works with real-time trading data and your intended investment capital.

How do I determine a “maximum purchase amount”?

You can determine the maximum purchase amount by setting a price ceiling based on your expectation of the peak price of a cryptocurrency. Specify a price ceiling below the peak price and ensure your return rate is higher than the transaction costs.

How does referral work?

You can create a personal referral link through the “Referral” menu in the trader. You will receive a commission in credits for the earnings of users who sign up via your referral link.

Can I invest more money while the bot is running?

Yes, you can deposit more Euros on your exchange and set the maximum purchase amount in your traders a little higher, or you can choose to let the bot open more positions by setting an extra maximum position.

How do I keep my bot working in a sideways or downward market?

You can set up ceiling prices to limit the bot’s actions in a sideways or downward market. This strategy limits the bot’s actions and can be useful in certain market conditions.

What happens to my trader if I set it to inactive?

When inactive, your trader will be saved in history and will not do anything until it is activated again. If you don’t want to make any new purchases but want to sell, set the ceiling price in the relevant trader to €0.01, but leave it active.

How much does the bot charge?

The bot charges 20% of the profit of each successful transaction. Since the bot only sells transactions when they are at a profit, you cannot make a loss.

How does the UpDown strategy work?

In the UpDown strategy, the trader buys positions within a price range of 1.5% and sells as soon as the minimum return set by the user is met. This strategy works with 1-minute candles to determine the closing price.

What percentage of return should I enter?

The percentage of return entered by the user is used by the trader to judge when to sell the trade. This percentage must be high enough to make a profit, considering the transaction fees.

I have some trades open on BBT of which I don’t have the coins on the exchange anymore. Is there a way to remove these trades?

You can resolve this issue by buying the differences manually in the exchange’s dashboard, selling the relevant crypto’s in the exchange manually, or deleting and re-entering the traders. Choose the option that best suits your situation.