Getting Started with WunderTrading: A Beginner’s Guide

Over 65% of all individual retail traders in the crypto ecosystem use automation products to at least some degree. Modern trading robots deliver outstanding performance and often achieve better results compared to humans. Automation can be employed to increase the speed of operations and make strategies more efficient.

Creating a reliable automated trading system (ATS) can be a challenging task for someone without any prior experience in technology and coding. Building an advanced solution like the AI trading bot crypto arbitrage product offered by WunderTrading is close to impossible without significant resources and knowledge.

Getting started with crypto trading bots without using industry-leading platforms is like herding cats. Possible but takes way too much energy and experience.

Here are some solutions that are free and can be used by anyone:

●  HummingBot is an open-source automation solution developed by an international team of experts and backed financially by some of the biggest US CEXes including Binance US and Coinbase. It is certainly not one of the beginner-friendly crypto trading platforms as running bots with it requires knowledge of at least one programming language and experience with old-school applications without a GUI.

●  Public repositories on GitHub with user-created trading bots and even some solutions from centralized exchanges can be quite useful if you know your way around a computer. Again, this option is free but requires some serious expertise, patience, and dedication that many retail investors cannot spare.

Commercial solutions are the best choice for any retail investor who wants to optimize profitability and achieve consistent results from their strategies. Many companies offer free products. WunderTrading is a great place for newcomers since it allows them to use some of the features freely and has flexible payment plans with multiple tiers of subscriptions.

Crypto trading for beginners in the USA

One of the biggest advantages of working with this particular provider is that it supports all leading centralized exchanges in the US. Among 20 supported CEXes, you will find Binance US, Coinbase, OKX, and many other exchanges that operate in North America.

Many solutions offered by WunderTrading are designed specifically for western audiences familiar with certain UX/UI design concepts, contemporary fintech products, and other nuanced aspects of the automation industry.

How to start trading crypto with bots

We strongly believe that partnering with a reliable vendor of automation services is crucial for the long-term success of your journey into the wilds of the crypto ecosystem. Using instruments that have been tested by thousands of users is much better than trying to build a solution from scratch.

All ATS designs have three core components:

A trigger that initiates the trading algorithm. It can be an alert from TradingView, a signal from a specialized supplier, or any other action including manual input from users.

A robot that receives a trigger and executes its algorithm. This is the automation platform where scripts for robots are deployed and launched.

A trading platform where all the action happens. Brokers and centralized exchanges that have an API (application-specific interface) allow third-party providers to trade on behalf of their clients.

All retail investors are familiar with the third component. However, the first two require separate discussions.

Some beginner tips for automated crypto trading

Without diving deep into the details of how to set up a high-performance ATS, we will cover several important topics that newcomers often struggle with. Below are pieces of advice that will be appreciated by newbies:

●  Carefully pick signal suppliers. If you do not have the necessary level of skill in technical analysis, it is a good idea to follow advice from trustworthy professionals. However, you must make sure that your signal suppliers are experts capable of producing actionable insights. Test their signals on mock accounts or by using the Paper Trading feature on WunderTrading.

●  Do not overextend. Automation is a useful tool that can deliver exceptional results. However, it is still a risky investment strategy that has technological and financial risks. Use only a portion of investable capital to run an ATS. Make sure to diversify and use different types of robots too. Throwing in some copy-trading positions for a good measure is also not a bad idea.

●  Start with simpler strategies. While it can be tempting to customize various types of robots that follow sophisticated algorithms, we strongly recommend learning the basics by launching DCA or grid robots. These systems have been tested by thousands of traders from all over the world. There is a reason why all providers offer these ready-made solutions.

WunderTrading is a great destination for people who are interested in automated crypto trading for beginners. The intuitive dashboard, multiple simple strategies, excellent customization options, and a wide range of other features make it a perfect fit for a newcomer without any experience in automating their strategies.

How to set up a WunderTrading account

Signing up for the service is quite easy. You won’t need to provide a whole lot of personal information and the process takes just a couple of minutes even if you have a slow internet connection and a laptop older than the crypto industry itself.

Newly registered users do not have to pay for the service and can test many features for free. It is a great place to start if you do not have any experience and want to mess around with knobs and buttons.

Here’s a step-by-step WunderTrading guide for account creation:

Go to the official website of the provider at https://www.wundertrading.com/en.

Click “Get Started” in the upper right corner of the main page.

Provide an e-mail address that will be used for the account creation and 2FA.

Enter the password. You don’t have to confirm it.

Check the box next to the text “I certify that I am 18…”

Click “Register” and verify your account by using the link in the confirmation e-mail.

Alternatively, you can use your Google account to sign up with just a couple of clicks. If you are a user of the Google ecosystem, it can be a good solution that also offers an additional option for multi-factor authentication in the form of Google Authenticator.

WunderTrading tutorial: how to launch your first bot

When you log in for the first time, you will be immediately prompted by the system to connect an exchange account. You may follow the instructions or go to the “My Exchanges” section of the dashboard.

Here, the process is quite straightforward:

Click the plus icon next to any exchange.

In the new menu, select your CEX and specify the type of account.

Go back to the CEX and acquire your API keys.

Use these keys to establish the connection between the CEX and WunderTrading.

Go to the menu section that contains the type of bot you want to launch.

Click “Create Bot” and adjust the settings as you see fit.

Created bots are listed in the “My Bots” section.

Note that you don’t have to go through the same process when creating a copy-trading robot. It can be done with just a couple of clicks in the “Marketplace” section of the dashboard. Simply find a lead trader that seems like a good fit for your strategy and risk tolerance and click “Follow”.

If you need an easy crypto trading automation solution, you should check out the offerings from WunderTrading. It is a leading robo-trading service in an industry where each action matters!