Bidsbee launched a Hold bot, and we believe it is time to announce it!
What is a Hold bot and what does it do?
The Hold Bot automatically buys a fixed amount of your favorite crypto at set intervals with a predetermined sum. This bot operates as a portfolio bot and allows you to benefit from the long-term appreciation of an asset.
For example, you believe that Bitcoin will grow in value in the long term. You set up your Hold bot to buy Bitcoin for a sum that you determine, at specific intervals.
Benefits of Hold bot
- The Hold bot eliminates the need for constant market monitoring and manual execution of trades, thus saving you time.
- It allows you to buy your favorite coin at the best average price
- The Hold bot reduces the negative impact of price fluctuations.
Cons of Hold bot
The only drawback of the Hold bot is that with it, you shall be ready to hold your asset in the long term if you want to indeed benefit from using the bot. But if you are ready for that, there are no real cons to using the Hold bot.
How to set up Hold bot
To set up the Hold bot, follow these steps:
- Choose the cryptocurrency pair (one of the coins shall be a stablecoin)
- Indicate the sum for investment (a sum of one purchase) (it shall not be lower than an equivalent of 15 USDT)
- Set up the frequency of purchases
- Set up the lifetime for the bot (from 1 to 12 months)
- Set up the maximum investment limit (the maximum sum for which the bot can purchase the asset) (from 15 USDT to 10000000 USDT, in increments of 1).
Keep in mind that you can deactivate the bot or change its settings at any time.
