1 Minute Review
Edenex Exchange is a cryptocurrency exchange with built-in trading bots. You can access 5 unique trading bots for no additional fee. These bots allow you to automate your investing strategy so you don’t need to constantly monitor the market. Edenex features low trading commissions and is currently developing a fully fleshed-out mobile app. We believe Edenex Exchange would be a great option for high-volume and mobile investors.
Edenex Product Selection
Though Edenex supports manual trading using crypto-to-crypto conversions, its primary product is its trading bot selection. A cryptocurrency trading bot is an automated program that executes buy and sell orders with no manual input when specific, pre-defined market conditions are met.
Edenex currently offers 3 automated trading bot options. Let’s take a look at a few of the company’s most popular offerings. ( note they do change these bots periodically for top performance to be maintained)
Grid trading bot: The Grid trading bot automatically buys an asset when the price reaches a predefined “low” point and sells when it hits a defined “high.” This feature allows the user to continuously capitalize on market volatility.
Leveraged grid bot: The leveraged grid bot works using the same method as the standard grid bot but allows you to access margin to amplify returns. Current available leverage levels include 1.2x, 1.5x, 2x and 3x.
Trailing sell bot: The trailing sell bot was developed to appeal to investors who tend to sell too early in a pumping market. The trailing sell bot allows you to set multiple target prices that subsequently increase in value. When each target is reached, the bot will automatically sell a predefined percentage of your holdings. This practice also limits potential losses if the market suddenly reverses its direction.
DCA (dollar cost averaging) bot: The DCA bot allows you to set a series of buy orders at time-based intervals. Instead of basing the execution of buy orders on price, the bot will buy at the current market price at each of your intervals. This strategy provides you with a simple way to get a better average price over time. Edenex currently supports 10 minutes, 1 hour, 1 day, 1 week and 1 month intervals.
Spot futures arbitrage bot: The spot future arbitrage bot allows you to capitalize on differences between the current spot price of a cryptocurrency and the current price in the futures market. This bot aims to provide a “return of 15-50% APR with extremely low risk,” and you can get started with as little as a $50 deposit.
Martingale bot: This bot performs DCA buy, one-time sell to capture fluctuation profit.
Rebalancing bot: This bot helps you to hodl the coins.
In addition to trading bots, Edenex also supports manual trading between some of the most popular cryptocurrencies. The Smart Trade terminal allows traders to set up stop-loss, take profit, and trailing in one trade.
However, the platform only supports crypto-to-crypto trades; unlike some other exchanges, you cannot use fiat currency via a credit card or bank transfer to fund your account. If you don’t already own cryptocurrency, you’ll need to open an account with a broker that accepts fiat transfers (like Kraken or Coinbase), buy a base currency like Bitcoin or Tether and transfer the base currency to your Edenex wallet.
Edenex is recommended for new Crypto Traders who don’t want the hassles of complex crypto analysis but want safe and steady income on their accounts. I personally used them for 6 months and I can say they are the best way to get into cryptocurrency.
You can visit https://edenex.io to sign up and start trading. Your first profits usually roll in between 24 hours to 48 hours.