You've probably heard the phrase "If you invested X dollars in Bitcoin in Y year, your portfolio would grow by 1000% now". Sounds exciting, but you need to keep in mind that the crypto market is incredibly volatile, and actually very few people are able to sit out bearish cycles when all the market is red for several months.
On the contrary, if you have a carefully designed and tested trading strategy, you do not worry about what will happen to the market tomorrow or next week. This will save not only your portfolio, but also your nerves. And what if your trading strategy is automated, meaning that you do not have to make trades on your own?
Wunderbit Trading provides you with every necessary tool to bring this to life: user-friendly interface, advanced trading settings, and fast order execution. All you need to have is a trading strategy on TradingView and an exchange account.
Below we will tell you how to connect your KuCoin account to Wunderbit Trading so that you will be able to create your first cryptocurrency trading bot.
What is KuCoin?
KuCoin is a Hong Kong-based cryptocurrency exchange launched in 2017, which is now one of the most popular platforms for buying and selling digital assets.
The exchange is known for relatively low trading fees, a wide range of trading pairs, and a strong user base spread all over the world. KuCoin provides high liquidity and some advanced trading tools, such as margin trading.
KuCoin trading bot is an automated crypto-trading software based on a TradingView strategy and connected to a KuCoin. Wunderbit Trading ensures a stable connection between the two platforms, offers a high speed of alerts execution, and allows you to apply some of the most advanced trading settings to your bot.
How to set up a bot on KuCoin using Wunderbit?
To connect your KuCoin account to Wunderbit, you need to create an Application Programming Interface (API) key. An API key is a way by which two programs communicate with each other in a secure and reliable manner. It is used to authenticate requests sent by one program to the other.
!Important: When you set up an API key on the exchange account, double-check that you enable the TRADING option and disable the WITHDRAWAL option. This is needed to create orders and trades directly from the Wunderbit Trading platform and prevent anybody from withdrawing funds from your account.
How to create an API key on KuCoin?
- Please log in to your KucCoin account.
- Click on the profile icon in the top right corner of the dashboard.
- In the drop-down menu select API Management and enable the security features if needed.
- Click Create API. You will be redirected to the API key settings tab.
- Come up with an API name and create an API passphrase. Pass security verification.
- Select General and Trade permissions and select No in the IP Restriction field.
- Your API key is created and ready to be connected to Wunderbit Trading!