Home » Digital Asset Management » RevenueBot: Overview of a cryptocurrency bot. Instructions on how to use the cryptobot with the Binance exchange

RevenueBot: Overview of a cryptocurrency bot. Instructions on how to use the cryptobot with the Binance exchange

RevenueBot is a cloud bot designed to automatically trade on cryptocurrency exchanges using an API. The interface is translated into Russian and English.

Registration for the service is free and there is no monthly usage fee.

Registration

To create an account on Revenuebot.io, click on “Register” in the top menu. Enter the following details:

  • Email.
  • Password.
  • Name.
  • Time zone.
  • Interface language.
  • Messenger contacts (optional).

The cost of the bot

There is no subscription fee, only commission is paid (20% of profit earned), which is not more than $50 in BTC equivalent per month. The balance of the bot is topped up manually by the user. The main thing is to make sure that RevenueBot’s balance is positive. All transactions of replenishments/debits/bot transactions/referrals are displayed in the profile.

Deposit for trading

The recommended amount is 200 USD (this figure is determined by the exchanges’ minimum order limits for a grid of 20 orders). Smaller amounts will require fewer orders, which makes trading more risky.

Algorithms and bot settings

RevenuBot works in SHORT (sells first, then buys coins) and LONG (buys first, then sells coins) algorithms. Trades are executed according to the set settings: % profit, number of orders in a cycle, % martingale and % price overlap.

The bot has the ability to set up startup filters (RSI/CCI), configure automatic selection of pairs for trading (based on a preset list/volatility analyser) specifying pump/dump filters. You can also enable backtest (last 60 days result).

Instructions

Step-by-step instructions on how to connect a bot to Binance using MATIC/BTC pair as an example

  • Create an API key on Binance exchange and connect it to the bot in the menu RevenuBot – “API keys”. To do this, enter the code of the key and its secret part in the specified fields.
  • Click “Create new bot” in the “Bots” section. Fill in the specified fields, select the pair to be traded, specify the connected API key and create a wallet. The purse is virtual, its function is to assign a deposit to the bot, which the owner is ready to allocate to it for trading. For example, on Binance there is a deposit of 0.01 BTC. For trade it is possible to use 50 %. Respectively, one should set the wallet to 0.005 BTC (or 50%).
  • Select the operating algorithm (LONG in our example) and set the settings. A description of each setting is displayed when the mouse is placed over the question mark next to the parameter name.
  • In “Notification”, specify the email/Telegram to which the transaction alerts will be sent.
  • Once all the settings are made, click “Create bot”. The line with the bot appears, and now you need to run it. There is a “Play” button in the table for this purpose.
  • All of the bot’s cycles are displayed in the statistics.

For more details on setting up the bot, see the article by our partners revenuebot review.