A 45-Day Experiment With a Set-and-Forget Cryptocurrency Trading Account
As the cryptocurrency market endures one of the longest pullbacks in its 10-year history, seasoned traders continue to realize profits.
If youâve got the skillsâââas well as the patience and disciplineâââfor drawing lines on charts while trying to predict the future, thereâs a fortune up for grabs in the crypto markets.
Yes, even with the market currently in the gutter, adept technical analysts catch green candles on the regular. Now, if youâd rather not fork over a monthly subscription fee for a signals service, youâre welcome to stare at charts all day.
And should you genuinely want to go that route, youâre in for some serious training. Get ready to familiarize yourself with moving averages and Bollinger bands, slippage and death crosses, longs and shorts, Fibonacci retracements and Ichimoku clouds, plus a slew of indicators, trends, and setups.
Point is, trading requires practice with plenty of learning, trial and error, and maybe even some lost funds. Whoâs got time for that?
Maybe you do. But today, weâre discussing automation.
Dex 3.0âââafter a quick setup Iâll teach you hereâââmakes crypto trading a breeze.
Youâre free to relax on the couch and watch Netflixâââeating gooey, chocolatey frosting by dipping your fingers straight into the jarâââas your algorithmic trader pulls profits.
Now, before we get too much more in-depth, I need to be upfront with you. Iâm here to share the results of a personal experience using an AI-powered crypto trader.
Iâll show you how to set up a bot of your own, but once itâs running, the ball is in your court. That said, assistance is readily available should you need some.
Now, just because Dex has been kind to me, doesnât mean heâll be as helpful to you.
And, you know the drill⌠Do Your Own Research⌠past performance is no guarantee of future results⌠but wait, thereâs even moreâŚ
Disclaimer: This is not investment or financial advice. Iâm not a financial expert by any stretch of the imagination. Information within this article is primarily speculative opinion. Always conduct your own research before involving yourself with any project, in or out of the cryptosphere.
I may or may not receive an allocation of tokens for creating this content. That said, I do my best to remain unbiased and fair. I try to avoid all FOMO and FUD and donât wish to elicit those emotions in my fellow cryptonauts. Did you make it this far? Congrats! Youâre in the top 1% and deserve nothing short of a medal.
Now that weâve cleared that hurdle, letâs pick up the paceâŚ
3 Tools Unlock Your Robot
Now, the trading serviceâââautomatically making trades for your benefitâââis free_._ But unless youâve got skin in the game, you arenât allowed to play.
After all, unless you have funds on the line, there are no profits to make. In addition to some crypto capital, you must have the proper accounts set up before you can start trading.
To help you streamline the process hereâs everything needed to acquire and do before auto-trading commences:
1) Pass KYC with Truwho
Sorry, thereâs a selfie involved in this process. No, I donât like juggling a phone and ID and Post-it note, either.
Before you fire-up your bot, youâll need a Gold-level TruID. Youâll find this in your Truwho account dashboard after completing the KYC process.
Your TruID consists of âTRU-DOâ followed by eight numbers:
Keep this ID handyâââyou canât put Dex to work without it!
2) Open a Free Dropil Account
Since the onset of this experiment, the Dropil project has continued to expand and improve their product offerings.
The team is very active with news, updates, and ecosystem enhancements.
The projectâs services are more diverse than autonomous trading, but for the sake of this article, weâll stick to Dexâââthe algorithmic trader stacking the projectâs native $DROP tokens for us.
The current leader in $DROP token trading
3) Acquire Tokens
Although thereâs no charge to employ Dex, you must begin your self-governing trading journey with an injection of capital.
Since Dex wonât run on fumes, youâll need to feed your bot with a minimum of 50 USD.
Over on the BitMart Exchange, $DROP trades against $BTC and $ETH. The Dropil projectâs native cryptocurrency also trades on Tidex and IDAX.
Using Dex 3.0
If you have basic experience using cryptocurrency exchangesâââfor instance, you already know your way around Binance or KuCoin or Liquidâââyouâll have no problem navigating the user-friendly Dropil platform.
Hereâs how to activate your robot after completing the three steps above:
Integrate
Once you have some $DROP tokens in your BitMart wallet, itâs time to feed your bot. However, you canât just plop them right into Dex.
First, youâll need to deposit tokens into your master Dropil accountâââwhich serves as the gateway for all of the projectâs services.
Log in to your dashboard to see whatâs in store for you:
Jade is currently in waitlist status
To make a deposit, click the âdroplet + southwest arrowâ icon towards the top-right of the page:
SW for deposits; NE for withdrawals
After clicking the deposit icon, a pop-up window provides a $DROP deposit address. Copy the digits and make a withdrawal from BitMart or whichever exchange is holding your tokens.
Click the âDex Autonomous Tradingâ section (shown two pictures up from here) to enter your Dex 3.0 back office.
Once youâre inside, itâs time to give Dex some gas. Click the â+ ADD TO DEXâ button to port funds from your master Dropil account over to your Dex account:
Designate
Like the digital frontier in Tron (the movie, not the cryptocurrency), Dex runs on cycles. You wonât be playing Frisbee of Deresolution or making 90-degree turns on Light Cycles, but every 15 days marks a full trading circuit.
Dexâs profits come via trading pools which are mostly robotic with a touch of human oversight. Play it safe, or go for a higher risk/reward ratio. The choice is yours, and youâre always in full control over your funds.
Allocate
After putting Dex to work, youâll want to decide what to do with any realized gains after cycles complete.
During my first cycle, Dex was still in the 2.0 phase. The ability to create a mixed strategy came online with Dex 3.0. Now that the sliders are available, itâs easy to play around with a method matching your risk tolerance.
For the initial cycle, I placed 100% of my funds into the âmoderateâ category. I then chose a more aggressive approach for profit reallocation:
Use the sliders to choose your tokensâ adventure
Marinate
Now comes the good part. The passive income part. The set-and-forget part. Temporarily, anyhow. Youâll want to check in from time to time to see how Dex is doing.
Now, itâs important to note that thereâs no hold period on your tokens. Withdraw them whenever you wantâââwithout incurring fees or penalties.
If at any time youâre not satisfied with your botâs hands-off trading results, you can transmit $DROP tokens back to a crypto exchange.
Robo-Trading Results
Now that three cycles are complete, itâs time to reveal the numbers. Plus, since all profits are set to roll over, thereâs a compounding effect every 15 days.
Hereâs what Dex has accomplished for me so far:
Cycle 1 (Moderate) =Â 1.3%
Cycle 2 (Aggressive) =Â 2.53%
Cycle 3 (Aggressive) =Â 1.43%
Overall increase in $DROP tokens after three full Dex trading cycles:Â 4.23%
Thatâs not too bad for a span of 45 days! If only fiat accounts could match that performance. Oh, wait, they can and often perform even better.
However, the banks prefer lending our deposits and taking the bulk of profits for themselves⌠but thatâs a topic for a different article.
Final thoughtsâŚ
Although detailed robo-trading setup instructions are within this article, merely follow along with what the Dropil site provides and youâll be just fine.
From setup to trading, the entire process is very straightforward. The only hiccup I had was finding the little button to make an initial deposit. But now that Iâve shown you where it is, you can breeze right through!
Simplification is the crypto industryâs best opportunity to propel mainstream adoption.
When all of us are using apps and DApps without even realizing thereâs a blockchain powering them, we succeed in our mission to make crypto easy for everyone.
And with ease of use comes the inevitable price spikes weâre all craving in this down market.
Automation is a growing segment of societyâs future. From clothes to dishes to commercial jetliners, we increasingly rely on robotic, artificially intelligent machinery and software to conserve one of our most precious resourcesâââtime. Well, sometimes a little elbow grease, too.
What sets profitable traders apart from the rest boils down to the same fundamental elementâââtime. The good ones spend years training, then devote hours and hours of every day to analyzing trends and indicators.
Trading crypto is stressful and requires extreme self-control. Itâs far too easy to become overconfident and make bad decisionsâââdraining your account in the process.
And that, my friends, is where Dex 3.0 comes in. Sure, elite traders realize healthier profits. But for the rest of usâââwho donât have time for thatâââDropilâs Dex is a fun alternative to endless chart analyzation.
So, if you appreciate the concept (not the guarantee!)of using crypto as a means for passive income, the Dropil team has gone out of their way to make it easy for all of us.
By the wayâŚ
If you enjoyed what you just read and would like help getting your crypto message to the masses, Iâd love to hear about your project.
Even if you only want to chat about crypto or your favorite blockchain innovations, you can find me here: blockchainauthor at Gmail
And, you can always reach out on Crypto Twitter