Best Crypto Exchange For Bot Trading? - Pionex Review

so it was a normal day for me being in the city checking my trades taking calls with the team the usual [Music] went out of nowhere i received an email it was from pinex it was a challenge to see if the features on their exchange could prove to be better than the exchanges i currently use to trade and they asked me to use my six years of full-time trading and investing experience to review their platform and hopefully win my seal of approval after seeing that what pinex offers would potentially solve major roadblocks in my cryptocurrency trading and investing i had to accept the challenge to see for myself so off i went back to the workshop to figure out what pinex was actually all about after several weeks of research and meeting with the team it was clear that this exchange could potentially offer solutions to our biggest problems it would exponentially improve me and my team's trading success but there was a lot of work to do so the main thing that i'm trying to do with pinex is see if we can start to automate a lot of the trading functions that we're trying to do in real time in order to increase the amount of profit and the ease of basically trading in general so we should be able to use it to have way more competitive transaction fees and deposit fees and what we currently use to trade we'll be able to utilize it a ton when it comes to the investing side to make investing in altcoins super easy they have a huge variety of altcoins which i'm pretty excited about this looks like it could potentially be a home base to be able to do all of the trading and investing functions automatically and make our lives as traders and investors so much easier but i'm going to be covering and explaining these features and also the fees as i'm able to test out pinex and sort of dig a little bit deeper so there's a lot of work to get done [Music] so we've given it some time with pinex now and i wanted to take some time to review one of their most popular features which is the grid trading bot i have six years of trading experience so i want to use some of this insight to be able to help you utilize the grid trading bot properly so in my opinion grid trading bot should be a portion of your portfolio that you set aside to be able to capitalize on short-term market volatility if the market's trading in a range that you're predicting you'll be able to capitalize on those moves by having a computer automatically buy and sell those moves so i want to go over here and just sort of draw a diagram explaining exactly how grid trading bots actually work and then i'll show you how i would put them into place so if we think that bitcoin is going to trade in between forty thousand dollars and eighty thousand dollars we can go over here and either use an ai strategy or a manual strategy to allow the computer to buy and sell in that range now a common misconception and i've seen this multiple times online is this is a back tested annual return over a seven day back test and i've done a lot of back testing if we're back testing seven days of price action and then determining off of those days that we're going to get a 143 return over that year this number is essentially just showing you a useless stat okay because the market especially in crypto is constantly changing so whatever this seven day is indicating your return will be is almost 100 not going to be what the return is going to be long term now there is a good way in my opinion to use this grid trading bot and that's by using the manual settings so the low price right here is going to be the low parameter of where you want the grid trading bot so the slow basically is at 40 000 so we can put in 40 000 right there upper zone is going to be this 80 000 mark so we can go ahead and put 80 000 in there this is where we can decide how many grids or how many buys and cells in this range we want to have so if we wanted just for simplicity's sake say four that means that we're gonna have four grid zones and i'll try to draw them evenly but i'm just going basically for like a diagram purpose if we go ahead and expand this down here we can have this bot initiate at our desired price so if we say i want this bot to initiate at 62 000 we can go in and put 62 000 right there then you can go in here and add a stop loss value keep in mind this is super important because let's say for example bitcoin comes all the way down fills all your buy orders and then keeps moving down fundamentally trading if you're just holding the investment until you turn green that's not a trade that's just you bag holding the investment so you have to set a stop loss in order to prevent yourself from just allowing all these buy orders to happen and then the market is continuing to move against your move so you can set a stop loss order outside this parameters and then we want to have our take profit outside the top parameter so if we want to get out at 85 000 this is going to be all set up for us now we also have an option for the grid buys to be geometric or arithmetic geometric is going to mean that each buy zone is going to be a fixed percent if we go over to arithmetic it's going to be proportionally adjusted based on the price moving down and this option is just a personal preference on what you find works best for you but i'm going to choose geometric for this example now we basically have our grid bot strategy set up we can figure out how much of our portfolio we want to utilize and use two thousand dollars roughly and go ahead and create the bot it's gonna ask you if you want to use a substitute for bitcoin i'm gonna use bitcoin and so this menu is going to show you the breakdown of your bot so our range is between 40 000 to 80 000 our profit is 25 per grid total investment like this and then we have our triggers our stop and our take profit so we can continue and now this is going to update and create our bot for us and then we can start seeing how this is going to perform when people review grid trading bots they think oh i'm just going to let the computer do it for me and then i'm going to put amount of money in there but let's say we just throw money at this and don't set it up properly if bitcoin comes down and fills us on this first zone right here and then just moon shots up to a hundred thousand we're only going to get filled on half of our positions and all of that cash is just sitting in the bot unused that's the risk that a lot of times people don't talk about with grid trading which is why i recommend to have it as a portion of your portfolio and also be trading with the platform and using the rebalancing bot to have allocations in altcoins and you can also just set regular trades up with stop losses and profit targets using pineux as well alright so we've given it some time with pinex and i actually was given a thousand dollars from pinex to test out with their grid trading bot just to show you the use of this bot we're up 162 dollars in profit which is 30 just off of a thousand dollars using the grid trading process if we just bought bitcoin with this amount of money we'd probably only be up about maybe 30 or 40 dollars we've been able to absolutely crush returns in the markets but mostly what i'm really interested in is the fact that you can see right here we have a 0.05 fee and if you look at sort of the standard across most exchanges we're looking at 0.1 as the average so you're literally paying half of the fees to transact on pinex there's definitely some downsides with this you can't transfer certain coins out into a wallet so if you buy sort of a more low-key altcoin you can't always transfer that altcoin directly to an exchange you'll have to close it out to either usdt or another cryptocurrency that is available for withdrawal but if you're looking to trade or invest in just having a one-stop shop on pinex it's definitely a great option for you because you're saving a ton on fees working only on their native platform and also when you're talking about trading altcoins a lot of the time the big issue is liquidity okay you can't get in and out of the market because there's not enough participation on that exchange what pinex does and this is a really good feature about it is they have aggregated liquidity so they use binance in huobi which means that they're basically using the largest exchange to make sure that you can get in and out of these altcoins and if we look at the total selection look at the amount of coins that they have they have all sorts of altcoins not to mention if you're outside of the u.s you can use 3xed leverage altcoins so we can go over to the leverage section right here and they actually have 2x and 3x leverage so you don't even have to use your own leverage you can just use these instruments that they've created to be able to trade on leverage like i said basically the only bad thing i can think about with pinex is the fact that you can't transfer out certain altcoins into other wallets but like i said if you're just trading on pinex and using that to create profit and then locking it into usdt i don't really see that being a major roadblock and also if you're looking to deposit funds into here all you have to do is click on your icon right here hit deposit you have options to use the binance smart chain tron or ethereum's blockchain to transfer in makes it super easy it's very fast another interesting part if we open up the support we literally can reach out to someone and you'll get a response in like i think it was three minutes for me if you look at how bad exchanges are typically to try to reach out to someone if you're having technical issues okay you could wait days on days or even months like if you try to reach out to binance forget about it with pinex they answer you right away which i think speaks volumes about pinex in general another notable feature about pinex is the fact that it simplifies investing in a bunch of altcoins simultaneously so once you start to accumulate a ton of altcoins every time you want to distribute funds into your portfolio and then allocate into each project you have to manually go through and add each project but a cool feature that pinex offers that i'll definitely be using and i'm sure that the rest of my team is going to be using as well is called the rebalancing bot so the cool thing about this is you can literally add multiple coins and you can go into customize add coins here so if you wanted to add to your portfolio let's say audio atom basic attention token bnb bittorrent and then pancake swap all you have to do is hit confirm down here now you can shift the percent allocation you want to have in sort of your own fund so essentially what you can do is if i wanted to invest 10 percent of my portfolio into this go ahead and put 10 in if you want to be 10 in atoms go ahead and put 10 in there 25 in basic attention you get the point and then basically you can allocate however much money you want into this fund and create your sort of own little altcoin index that way all you have to do is contribute money to this index and you're automatically holding each percent of these altcoins so as far as altcoin investing goes this is going to change the game for me and my team i'm going to be utilizing this and be able to invest simultaneously into these projects all right so after several weeks of trying out pinex exchange i wanted to do an honest review of my experience so far and break down some of the pros and cons and just be fully transparent about the things that i dislike and like about the exchange overall i've had a very pleasant experience with the features that they do offer definitely the good outweighs the bad in this situation so you can see right here i'm up you know 130 dollars in the past week whereas if i just bought bitcoin it would only be like 50 in profit so the grid trading bot is at work you can back test it or have it ai back tested super cool feature i would definitely play around with that but those features can allow you to generate money when the market is trading sideways or down as long as you can use your other knowledge as to which direction the market is generally trending in you can sort of let it go on autopilot and be generating returns which is really really cool one of the most exciting features for me is you can literally make your own sort of altcoin index add the percent allocation and then all you have to do is buy and sell that and you're basically investing in a bunch of different projects all at once by just doing one transaction which is one of the coolest features that stood out to me with pinex so i'll definitely be using that also great altcoin selection a lot of times exchanges do not offer a lot of the projects that i'm looking for whereas when i'm regularly trading they have almost all of the tokens that i've ever wanted to trade so in that regard pinx has been absolutely awesome another pro for me is the fact that their exchange fees are literally half of what the industry standard is if you're doing a lot of trading that's going to end up stacking up and i think that pinex is very very appealing for people like me especially because i'm actively trading so that's a huge pro for me as well also their liquidity i have to say it's amazing so i've never had an issue getting in and out which can sometimes be an issue when you're trading smaller projects and then last but not least the fact that you can actually reach out to their support okay if you go to you know kucoin or you go to binance you're not even going to be responded to for sometimes even months at a time it took me three or four minutes to get a response from the support so first thing that could be improved with pinex in my honest opinion is the desktop app i like to have a good desktop user experience unfortunately there are some bugs on the desktop side that i know that the team on pinex is working on the mobile app is much better so that's a downside to me but maybe not to everybody second downfall for me is the fact that you can't transfer some of these smaller coins into other exchanges without cashing them into usdt or another cryptocurrency that they do offer transfers on third con for me is it has limited leverage options for u.s residents i live in the united states unfortunately they're 3x or 2x leveraged tokens i can't trade because of where i live that's a downside to me but maybe not depending on where you're living and then the fourth con that i can find is pinex is a smaller exchange that sometimes can sit uneasy with me if i have large sums of money on there not because pinex isn't great i have full faith in their process but as far as trading regular amounts of money and investing regular amounts of money no concerns there so i have mostly awesome things from pinex and i'm super excited that i did this challenge and we found such a good result with this and i can definitely say pinex is solid for the features that they offer it can be used by basically anyone across the board to improve their cryptocurrency trading but anyways guys i hope that you enjoyed this sort of format of video i wanted to switch it up a little bit and do something interesting when pinex reached out to me to review their exchange i didn't want to just have it be a normal exchange review and of course this being a sponsored video go show some love to pinex use the link in the description to sign up and see how you can improve your cryptocurrency investing if you're still here with me make sure you hit the like button on this video also if you haven't done so already make sure you hit that subscribe button so you know when i put more videos out but that's basically all i have for today guys until next time i will see you all in the next video [Music]

Channel: Craig Percoco

Views: 13,652

Keywords: crypto bot, crypto trading bot, algorithmic trading, trading bot, cryptocurrency trading bot, crypto passive income, coding a trading bot, passive income with crypto, coding a crypto trading bot, crypto trading, bitcoin trading bot, how to build a trading bot, pionex, crypto bot trading strategies, crypto bots explained, crypto bots for begginers, altcoins, crypto trading bots, trading bots, trading bot tutorial, crypto trading bot tutorial, crypto strategies, top altcoins

Id: TTVzC8ylGlg

Length: 13min 48sec (828 seconds)

Published: Fri Nov 05 2021