Do you want to invest in the cryptocurrency space?
Yes - Jump straight to step 2
No - No problems, if you'd like to understand more about cryptocurrency before taking the leap, it might be worth watching Mike Maloney's YouTube series, The Hidden Secrets of Money as well as listening to podcasts and videos from Alex Saunders of Nuggets News. Otherwise, feel free to sign up to the mailing list for performance updates.
Do you want to buy some Bitcoin or other Altcoins and hold? Or actively trade the market... using automated bots?
Yes, I’m interested to hear more about the trading bots.
Head to step 3.
No - I’m happy to just buy and hold coins.
Still keen? It's important to understand the risks...
You will need to manage your own accounts for 3 Commas and your chosen exchange. Depositing and withdrawing funds is all under your control.
The bots all have periods of losses and underperformance. This may occur immediately, as soon as you start. It is best to embark with a long term approach, but we strongly encourage you contact us if you have any concerns.
There is the risk that exchanges may break down or get hacked. Although very small, keeping your currency and/or coins on an exchange does carry some risk.
There is the risk that the TradingView alerts system breaks down and some bot alerts may not trigger. Again, very small, however this will mean your trades may not have entered or exited correctly.
Cryptocurrency transactions are still subject to tax regulations, it is important that you manage this appropriately.
All trades have a 10% stop loss coded in. Sometimes if there is a major sell off, the bot will sell at a loss greater than 10% due to slippage and market movement.
Occasionally, 3 Commas, Binance and/or FTX exchanges perform upgrades which have in the past interfered with active trades. This may result in alerts being missed and the necessity of a manual override for some trades. BSB monitors this closely to minimise risk and to stay on top of changes within this platforms.
Are there any other good bots to follow?
Yes! There are many other automated bots and active traders out there to copy. If you find another good one, by all means go for it. Just be aware that it is uncertain how those bots perform over a variety of market conditions. It may be that certain bots achieve outstanding results in the short term but aren’t programmed to perform well in other market conditions. BSB bots have proven track record of performance in a variety of market conditions and historically do very well over the longer term. The back testing performed on BSB bots is extensive and the founder’s personal capital is 100% allocated to these bots. This means that there is a (VERY) vested interest in their success, maximising performance and minimising risk. BSB is quality checked every day to ensure that trades are entering and exiting as they should. It is obviously up to you as the individual how you want to allocate your funds but it is always good to understand the risks.
Not sure which bot to follow?
The Bitcoin and Ethereum bots are great all rounders and a good place to start.
The Satoshi bot may be a very strong performer in the long term but requires a preparedness to ride out the highs and lows of Bitcoin as it uses BTC as it's base currency.
It is recommended that you book in a 30 minute consultation if you are unsure of which bot may be best suited.
You might just be ready to go! Ensure you have thoroughly read through the information guides for your chosen bot, and carefully follow the walkthrough instructions.
Reach out if you have any questions or hurdles along the way!
Welcome to bot life! We're excited to have you on the team!!