A cloud cryptocurrency software provider that aims to make automated trading simple says it now has over 70,000 active users and over 7,000 active trading bots, with almost 3 million deals completed successfully since its launch.
TradeSanta’s software can be connected to seven major exchanges, including Binance, Huobi, OKEx and HitBTC. The company says setting up an account is simple, and trading bots can be set up in under two minutes.
From here, long and short bots can be utilized to take advantage of bull and bear markets alike, and technical indicators can be relied upon to open trades at opportune moments. TradeSanta notes it allows large volumes of crypto to be traded without affecting the value of the underlying assets — and better still, users can track their bot’s progress anywhere thanks to transparent analytics and Telegram notifications.
Constant improvements
TradeSanta says it has had a busy 2020 as it unveils brand-new features.
So far this year, it has added a plethora of technical indicators, including Moving Average Convergence Divergence (MACD) and Relative Strength Index (RSI). Virtual and manual trading terminals were also unveiled. Moreover, one of the company’s priorities has involved expanding to new markets worldwide. To this end, TradeSanta’s services are now available in Russian, Spanish and Japanese.
Next, the company is planning to unveil a trailing take profit feature, meaning that traders can maximize the opportunity to capitalize on price movements. This tool means that the figure at which a cryptocurrency is sold rises in line with an increase in the digital asset’s value.
As an example, let’s imagine that someone buys 1 BTC for $10,000 and sets a trailing take profit of 5%. If Bitcoin were to subsequently rise to $12,000, the trailing take profit would rise alongside it, keeping a distance of $600. This means that if BTC were to suddenly slump down to $9,500, the trader would exit their position at $11,400, thereby protecting $1,400 of profit that would have been lost if Bitcoin’s price dips below $10,000.
Plenty more features to come
Further improvements are planned in the coming months, with TradeSanta planning to make enhancements to its stop loss feature, optimize its dashboard, and deliver a better user experience. Futures trading will also be supported, with Binance Futures one of the first platforms to be onboarded.
Looking ahead to the final quarter of 2020, users will be able to share bot settings and copy trading strategies with the highest levels of performance. A profit tracker will be able to set and follow trading goals, and a new one-click feature will enable coins to be sold immediately from the TradeSanta dashboard.
As previously reported by Cointelegraph, TradeSanta believes there are many advantages to using more than one cryptocurrency exchange, as doing so gives consumers access to a more diverse range of trading pairs. It’s even possible to benefit from arbitrage, where one trading platform sells Bitcoin more cheaply than another.
Moreover, the company aims to eliminate the downsides of maintaining multiple logins by linking all of these exchanges to its cloud-based software.
Four subscription tiers are offered for TradeSanta’s service. A free package allows users to operate up to two bots with maximum trading volumes of $3,000 a month. The basic package costs $14 a month and is paid a year in advance, offering up to 49 bots, which first-time users can make use of in a free three-day trial. The advanced tier unlocks access to 99 bots for $20 a month on an annual basis, while the maximum plan delivers unlimited bots at a discounted rate of $30 a month — 50% off the usual price.
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