Coinbase Trading Bot

Maximize Your Profit, Mitigate the Risks – Get a Coinbase Trading Bot Free

Using trading bots for Coinbase or any other exchange is no news. Software of this kind has long been around on traditional financial markets, and now it is rapidly making its way to the ever-growing cryptocurrency market.

If used right, bots may help you not only boost profit, but also mitigate risks. Here are just a few the benefits:

• Crypto market never sleeps, and neither does trading software. Once configured, it works autonomously, 24/7. It won’t get tired or lose concentration.

• Software is unemotional. It never is in doubt. It simply does what it is intended for: consistently places orders, according to the strategy you choose when setting it up.

• Software reacts quickly, much faster than a human being. It will instantly notice and take every opportunity the market provides.

• Some such products come with a number of pre-set strategies to choose from.

• Many of these bots could be used on multiple exchanges.

• There are lots of free options available – for example, you can find a number of free Coinbase pro trading bots from different developers.

All this makes them ideal for newbies and experienced traders alike. But remember that it’s also very important to pick a good exchange – such as Coinbase Pro or Coinbase for automated trading.

Coinbase and Coinbase Pro: Similarities and Differences

Coinbase Global Inc owns two cryptocurrency exchange platforms, named Coinbase and Coinbase Pro (formerly GDAX). Both were founded about a decade ago - in 2012.

They are closely linked. Whichever you choose, you will have to open a Coinbase account first, and then use the same login credentials to access both platforms.

In a nutshell, Coinbase is said to be great for beginners, thanks to its relative simplicity and excellent tutorials. Seasoned users will appreciate Coinbase Pro with its advanced options - it offers more transaction types with lower fees. Thus, proficient and active crypto traders may benefit more if they get a trading bot for Coinbase pro.

The platforms are user-friendly and actually have pretty much in common. However, they differ in their sets of features and fees.

Both are free to open an account and allow buying crypto currencies with fiat money (e.g., U.S. dollars or Euro).

Both provide a really high level of security. Both platforms have such security features as two-step verification and biometric fingerprint logins, as well as encryption for digital wallets (AES-256). If Coinbase is breached, coins in US wallets are insured up to $250,000 by the Federal Deposit Insurance Corporation (FDIC).

As to the differences, Coinbase Pro supports more than 250 cryptocurrencies, while its counterpart only 107.

When it comes to the types of transactions available, Pro also wins hands-down. Here you can buy/sell, deposit/withdraw, trade, time in force order, stop order, and limit order. On Coinbase, you can only buy/sell, send/receive, and exchange.

What is more, there is no maximum trading amount on Pro, while on Coinbase there are limits that depend on the region and the payment method used.

An Important Tip

It is worth remembering before applying a crypto bot for Coinbase and Coinbase pro: a trading bot isn’t an integral part of these platforms. Neither of them offers any bot solutions – the exchange just allows bots to connect to it.

It means that all Coinbase trade bots and Coinbase pro trade bots are developed by third parties. They quite predictably will differ in their functionality and effectiveness. So, do your homework and double-check the reputation of the companies who are behind the bots you are going to use.

Look through all aspects of its operation, paying special attention to the withdrawal function within the API structure. Needless to say, flawless withdrawal of funds is of critical importance. It’s also a good idea to check reviews and users’ feedback.

All in all, it is up for you to decide whether to apply such a tool and much depends on how you utilize it. Numerous crypto traders, both greenhorns and experts, have already appreciated the advantages it may give.

TradingView Alerts to Coinbase

To send TradingView alerts to a Coinbase, you'll need to use WunderTrading to bridge the gap between TradingView's alert system and the exchange's API (Application Programming Interface). This can be done in 3 simple steps.

1. Create API Keys: In your Coinbase account settings, find the API section and create API keys. API keys are essential for connecting external services like TradingView to your Coinbase account. Make sure to set appropriate permissions for the API keys, typically limited to trading and perhaps account information access.

2. Add you API Keys to WunderTrading: This will establish the connection between the Coinbase and the bots that you will create.

3. Configure Alerts in TradingView: Open your TradingView chart. Click on the ‘Alert’ button. Configure the alert conditions (e.g., price level, indicator crossover). For the ’Webhook URL’ or similar option, enter the URL provided by WunderTrading.

Bot settings