Reverse Grid Bot is one of the free bots integrated with the Pionex exchange. The reverse grid is beneficial in a bear market. Using the bot, you can have full automation wherein you need not be monitoring the market 24/7. The software is programmed to track the market conditions round the clock enabling passive income generation.
Pionex platform has users spread over 100 countries and regions worldwide. Over 100 million daily trades are happening on the exchange with a monthly trading volume of over $5 billion. The service has been working seamlessly for 1079 days with an uptime of 99.99%.
First Reverse Grid Bot quick summary
|Low commission fees||It cannot be used for shorting crypto wherein you sell your asset hoping to buy it back at a lower rate|
|Ease of Investment||4/5|
What is Reverse Grid Bot?
The bot uses a reverse form of the grid approach. It helps to profit from falling market conditions wherein you sell your asset first and buy it back later when the price drops.
How does Reverse Grid Bot generate profits?
With the bot, you can accumulate more coins while there is a drop in the price. The bot works similar to that of the grid bot with the main difference being the income calculating unit. Both methods are used to buy when the prices are low and sell when there is an upturn.
In the reverse grid, you use the base currency to measure profitability and the main factor is that the base currency value increases or not as against the grid approach where the quote currency is focused on.
Safety and security
Since the bot is integrated with the Pionex exchange you will not face problems associated with UPI connection glitches. Being one of the biggest Binance brokers, the company boasts of 99.99% uptime indicating that users can rest assured of uninterrupted operations on the platform. As per the vendor, the firm employs various security measures to safeguard your personal info such as data encryption, firewalls, physical access, and information access controls.
How Reverse Grid Bot’s pricing works
A low commission fee of 0.05% is charged by the platform. This fee is further reduced for VIP members. The maker and taker fees are 0.05% for spot trading and 0.1% for leveraged trading. The withdrawal fee is dependent on the crypto coin you want to withdraw. For instance, the withdrawal fee for ETH on mainnet is 0.005, for BEP20 (BSC) it is 0.0001, and for HECO it is 0.0001.
A bot is an inbuilt software working on the Pionex exchange. The integration helps in ease of use, quick deployment, and efficient operation. Pionex exchange works with Huobi and Binance for liquidity aggregation.
How long has Reverse Grid Bot been in business?
The company was founded in 2019 as per the Twitter profile. It is based in Singapore and team members include Dave Yeh, Chris Costello, Christine Fish, Josey Wyatt, and Lunik Hsu. The company has 31.8 k followers on Twitter and 10.2k members on Facebook.
How to get started with Reverse Grid Bot?
Users will find the bot easy to access, install, and use on the platform. Here are the steps you need to complete to get started with the bot:
- Visit the official site, Pionex.com, and create an account by using the sign-up option
- Now log in to your account and choose the bot from the right side of the home page along with the pair you want to trade on
- Click on the ‘Create’ feature and enter the parameter settings from the basic and advanced features
- The bot is now ready and you can deploy it. Remember that when you invest in the base currency, your profit is calculated in the quote currency
For support, the vendor offers various methods such as email and live chat for contact. A blog, video, and an FAQ section for tutorial guides, and links to social media pages on Twitter, Discord, Telegram, Line, and Facebook are also present.