In this article, we will review the TradeSanta trading bot.
TradeSanta is a cryptocurrency trading automation software well-suited for beginners and professional traders. Without making trading your full-time job, you can take advantage of crypto market fluctuations 24/7. How? Take a look!
In a nutshell, TradeSanta is a software to connect to top exchanges, such as Binance, Huobi, and implement automated trading strategies on top of them.
Also Read: Understanding Cryptocurrency Trading Bots
- A beginner-friendly interface
- A choice of professional traders
- Responsive support team
- DCA & Grid Bots
- Long & Short Strategies
- MACD, Bollinger Bands, RSI
- Free plan available
Pros & Cons
TradeSanta is an excellent fit for both experienced and novice traders. In the dashboard, you can find charts from Binance, Bittrex, Bitfinex, and HitBTC in addition to exchange rates, charts, and tutorials.
The standard trading feature is also available for the users of the platform. Just choose an access point, a currency, and volume.
Also, you can automate your strategies using Grid or DCA bots, or place orders with the help of Smart Order, a quick way to buy or sell a coin right from the interface of your dashboard.
The team is currently working on adding several features for beginners as well as advanced traders.
One of the most popular features of TradeSanta is its long and short trading bot that implement the most popular strategies in the market.
A long trade buys tokens that are expected to increase in value at a lower price so you can sell them later at a higher price.
A short strategy sells coins that are expected to fall in value at a higher price with the intent of buying the same amount back, but at an even lower price — this leaves you with the same amount of cryptocurrency plus the profit made.
The dashboard with the balance chart enables you to track your progress, total balance, exchange rates, and top pairs. The Wizard will guide you through, and preset strategy templates will encourage you to start.
What distinguishes TradeSanta from the competitors is technical analysis tools the bots use to initiate the trade.
Bollinger measures volatility and sends trade signals when the current price hits the top or bottom band.
Martingale is an automatic increase in the volume of each extra order by a factor of 1.05 to 2. So every subsequent additional order will have a bigger volume than the previous one.
One of the biggest problems for professional traders is the need to follow and trade manifold markets 24/7 simultaneously.
With TradeSanta’s Maximum plan, you can run an unlimited number of bots day and day out based on pre-programmed strategies of your choice.
The service gives you a chance to cover as many markets as you wish on top of the most prominent exchanges.
The TradeSanta team does everything to protect its users’ accounts and personal information. For example, they conduct regular security audits of the TradeSanta website and work only with the exchanges that have a reputation for setting high standards.
The API keys only allow the bot to trade, and the team cannot access users’ funds or withdraw them.
For extra security, you might also want to enable 2FA, choose a secure password, or check API permissions on your exchange.
TradeSanta has four plans to offer.
Free plan – With this plan, you can run up to 2 bots max.
Basic plan – buys you 49 bots max for $10.5/ month.
Maximum plan – grants users with an unlimited number of bots for $70/month.
The plans differ only in the number of bots, and all plans include unlimited trading pairs and unlimited access points.
All new users get a 5-day trial Basic plan to later switch to a free plan with up to two bots.
TradeSanta gives you a quick way to automate your trading strategy and do it for free.
Importantly, you don’t need to pay right at once to see if automation is right for you. You will have time to assess the results.
So what are the most apparent advantages of such an approach?
The TradeSanta team argues that one of the most significant advantages of automated trading is that you can step back from updating your charts constantly.
Just give yourself the freedom to focus on other business pursuits, catch up on some much-needed sleep, or enjoy some well-deserved leisure time.
Real-time tracking ensures that traders are given updates when they need it most, transparent analytics offer insight at a glance into how a user’s strategies are performing, and Telegram notifications deliver alerts when urgent action needs to be taken.
Let us know, what you think about our TradeSanta review in the comment section.
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