Pionex is a trading site/exchange where you can easily use various cryptocurrency trading bots for investing (Buy-the-dip, Dollar-cost-averaging, etc.). Each bot is thoroughly described on its site, and Pionex is highly user-friendly for beginners.

Where can I get the app?

Install the Pionex app after downloading it from the app store. To join up and begin the verification process, follow the steps. Starting at Level 1 is OK. But I’d suggest completing the verification through level 2.

How may funds be moved from Coinbase to Pionex?

Make sure you transfer to the correct network before doing anything else. If you need more clarification, research the web utilized by Coinbase on Google or do a tiny test transfer.

Wrong transfers will result in a loss that cannot be recovered. Select a coin that Pionex supports. Not all of them are currently supported; for example, Solana is not accessible. Select the cryptocurrency you want to use for the transfer by clicking “deposit” on the app, then copy the address.

You can use Algorand, USDT, and Bitcoin, among many more options. But I’ve only tried these cryptos. Use the ERC-20 Pionex address for USDT, as Coinbase only supports this network. Transferring money through USDT costs around $100 plus a $5 network charge (Coinbase to Pionex)
Google or do a tiny test transfer.

BTC transfer fees

I paid roughly 200 USD (or 0.009 BTC) for Bitcoin to see the costs up to the BTC amount made available at Pionex.

• Bitcoin fiat to BTC at Binance with no fees
• Transfer 4.8€ @22950 USDT from Binance to Pionex with 0.009 BTC (0.0088 BTC + 0.0002 tx fee) (main net address). The delay may last up to an hour. The transfer began at 19:46 and was completed 26 minutes later at 20:12. Transaction took 26 minutes to complete before Pionex sent a push notification.

BTC transfers are OK since you may construct a bot using a BTC pair. Therefore, depending on your planned bot, transfer USDT or BTC. Similar expenses apply to both. However, Pionex requires no additional procedures. You don’t have a tough-to-notice currency loss danger if you use BTC or USDT. Use USDT instead of BTC if speed is critical because BTC confirmation takes longer.

Risk of currency loss

Suppose the price of Algorand lowers when you are using it to transfer to Pionex. Less USDT or BTC will be paid for your ALGO. It’s also conceivable that there may be a gain, but this won’t happen very often. However, if you’re transferring in a different cryptocurrency, switching at Pionex is equally hassle-free and fee-free.

I, therefore, advise the following:

• Choose the currency pair you want to utilize for your bots, such as BTC/USDT or ETH/BTC.
• Transfer the specified amount to Pionex in either USDT or BTC, with no further currency exchange losses.
• Make the desired bot.

What is a wise first purchase?

For a grid trading bot, I suggest a minimum of $50; a preferable figure is $100 or more. Grid profit at 50 USD is negligible and often 5–10 times the transaction cost. In my situation, a 0.2 cent transaction charge added to a daily grid profit of around 1 cent. Grid profit is more significant at 100 USD.

I began by investing 50 USD each in two bots, BTC/USDT and BNB/USDT. If you notice that the bot is performing well, you may subsequently contribute additional funds. BNB/USDT average grid profit of 0.003 USDT with an investment of about 50 USDT (0.00056 USDT (sell & purchase cost))

How do I choose the best base pair, BTC/USDT?

It is difficult to respond to this, but here’s how I see it: The bot benefits more from more volatility. Look at a 15-minute time scale and attempt to choose one that has a sideways chart more frequently on the days and weeks. Problematic for the bot are downtrends without up movements since they make selling difficult.

Be patient and don’t terminate the bot too soon.

With bots, certain tolerance is necessary. If it has already started and you are losing, don’t stop the bot immediately.
A general rule to follow is if you notice that the grid earnings are catching the historical loss after a week or two. Keep the bot running and consider whether it would be wise to increase your investment.
However, it could be preferable to stop the bot if the loss is too great.

What transpires if a grid trading bot’s restrictions are exceeded?

You’re receiving a mail regarding this occasion. The bot is unable to proceed, and you must take action as a result:

If you don’t like the bot or it performs poorly, you may either stop it and start over or create a new one.

Alternatively, you may change the limitations; as a general guideline, you should set the limits to 80% or 120% of the current price (for example, 318 USDT/BNB at the current price; lower limit: 254 USDT; higher limit: 382 USDT/BNB).

You’ll be given information about what will happen once you click the next button before you really execute.

What transpires if a grid trading bot’s restrictions are exceeded?

You’re receiving a mail regarding this occasion. The bot is unable to proceed, and you must take action as a result:

• If you don’t like the bot or it performs poorly, you may either stop it and start over or create a new one.
• Alternatively, you may change the limitations; as a general guideline, you should set the limits to 80% or 120% of the current price (for example, 318 USDT/BNB at the current price; lower limit: 254 USDT; higher limit: 382 USDT/BNB).

You’ll be given information about what will happen once you click the next button before executing.

When should your grid trading bots release their profits?

You may always release; however, as a general guideline, I release all bot earnings when the sum is more significant than 1 USDT. Click the three dots in the bot view and select release profit to remove profits. Next, choose the earnings you want to discharge from them (here, I’m using my 1 USDT rule).

I see results from this, and I at least check the earnings once a week.

How should I spend the USDT winnings I have collected in my wallet?

You may establish a new trading bot or pay out to Binance or Coinbase if the USDT balance reaches a certain level.

A 1 USDT transfer charge applies. Don’t transfer little sums, then. A fair minimum value is 100 USDT or higher. Then the cost is less than or equal to 1%.

Tick the minimum amount needed to construct the bot for the chosen pair if you want to start a new trading bot.

What kind of profits are possible?

A well-functioning bot may earn you up to 15% in profit. For instance, if you invest $100 and make a profit of $15 after one month.

MATIC/USDT, BNB/USDT, and BTC/USDT are my best-performing bots, generating between 13 and 15% of my overall profit.

Conclusion

I’ve been using Pionex for about a month, and I’m still learning how to utilize it. Therefore, if something needs to be corrected, do let me know in the comments or by a Twitter message. Perhaps I’m adding new information to this post; if so, I’ll indicate updates at the top.