Scavenger bot is an easy to use passive crypto income generator
What is a bot?
Trading bots are computer programs that use various indicators to recognize trends and automatically execute trades.
How is Scavenger bot different?
There are plenty of bots out there that require technical skill to setup and day trading skills to configure correctly. If you get either part wrong then it is too easy to lose your money.
www.scavengerbot.io is all about low risk and long term profit with an easy 5 minute setup. After the setup there is nothing to configure. It all runs on their website and you don’t need your computer to be on for it to work.
Your funds are also safe from the bot as you leave your money on the exchange website and the bot has no permission to withdraw the money.
How much money can you make?
Scavenger bot has been running for 3 months at the time of writing and averages 0.65–1% a day. The more volatile the market, the more money it makes and the last 3 months have been quiet.
How does the bot work?
You create two accounts, one to say ‘I think the price of Bitcoin will go up!’ and the other to say ‘I think the price of Bitcoin will go down!’.
When the green horizontal line is reached, the bot saying that the price will go up will sell and you take a tiny profit.
When the price started to increase from 6470 to 6480, every time the price increased by $1, the sell bot increased it’s position so the red line would always stay within $20 of the current price. This way, when the price starts to come down in the future your sell bot will also sell for a tiny profit and the process repeats, potentially hundreds of times a day.
It only ever makes tiny profits to keep risk as low as possible. If the price goes up 30% in a day (very rare but could happen) then the bot chasing to stay within $20 needs spare capital to allow this.
The more the price goes up an down during the day, the more tiny profit you make!
Compounding interest boosts profit
If you start off with $1,000 invested then based on 3 months of data, you should hope to make a minimum of $6.50 a day. Tomorrow you are now investing with $1006.50 so would hope to make $6.54. If you compound that over a year you would end up with $10,641.94 and earn $68.73 on the next day.
How much does the bot cost?
The bot is free as is commission based. You get a weekly invoice for 15% of your profits, if you don’t make any money then you have nothing to pay! In the 3 months of data, there has never been a day with no profits so don’t worry.
What are the risks?
The exchanges could in theory get hacked and I don’t know if they would insure your loss.
The bot could also run out of funds if Bitcoin were to increase 50% in one day and you would lose your investment. If it were approaching a 50% increase then you could save the investment by adding additional capital.
What does the bot trade?
Currently the bot only trades Bitcoin and only on www.bitmex.com however new currencies and exchanges are due soon.
Other currencies could prove to be more volatile which will increase the daily profits and more exchanges could reduce risk by spreading your capital across several exchanges.
How do I get started?
Sign up at www.scavengerbot.io and it will walk you through what to do next. If you get stuck, there is a live chat room or you can leave a comment here.
This is not investment advice, only invest what you can afford to lose.