DCA Bot

1. What is a DCA bot? 
A DCA bot, or Dollar Cost Averaging bot, is a trading algorithm that automates the process of regularly purchasing a specific cryptocurrency at predetermined intervals, regardless of its current price. This strategy is often used to mitigate the impact of price volatility.

2. How do I create a spot DCA bot? 

To create a spot DCA bot, you can navigate to the DCA tab on the spot market order form. From there, you can set various parameters such as the buy/sell cycle, investment amount, slippage tolerance, and more.


3. What are the available buy/sell cycles for the DCA bot? 

You can choose between three buy/sell cycles: daily, weekly, and monthly. The bot will place orders according to your selected cycle.


4. How do I set the investment amount for the DCA bot?
 
You can designate the investment amount in your quote currency and the number of times you wish to make this investment. The total investment will be calculated as the amount per period multiplied by the number of investments.


5. Is there a minimum investment requirement? 

Yes, there is a minimum initial investment requirement, which is specified as a placeholder value. If your input falls below this minimum, you will receive an error message and be unable to proceed with creating your DCA bot.


6. Can I choose not to set a limit on my investment? 

Yes, you can choose the "no limit" for your investment. In this case, there will be no upper cap on your investment amount.


7. What is slippage, and how can I configure it for the DCA bot? 

Slippage refers to the discrepancy between the anticipated price of a transaction and the price it's actually executed at. Within the advanced settings, you have the ability to define your slippage tolerance using a percentage value. If the market's price spread goes beyond this specified percentage, the bot might refrain from initiating an order.


8. What will happen if my available balance is insufficient for the minimum required investment? 

If the funds in your account fall short of the necessary minimum investment, the bot is unable to carry out orders. As a result, you'll observe an "order failure due to insufficient funds" notification on the bot's information page.

9. Can I choose to deposit the purchased cryptocurrency into a flexible earning product? 

Yes, you will have an option to enable or disable automatic deposits of purchased cryptocurrency into a flexible earning product.. The bot will display the previous day's APY for your reference.


10. How do I stop a running DCA bot? 

You can stop a running DCA bot by selecting the  "Stop bot" button. A confirmation popup will appear, where you can choose to confirm or cancel the chosen action.


11. Is there a limit to the number of DCA bots I can create? 
Yes, you can create a maximum of 200 DCA bots.


12. What are the reasons for my DCA bot to stop or get deactivated?? 
Your DCA bot can stop or get deactivated for various reasons, including manual intervention, reaching a total investment threshold, or encountering persistent slippage or order failures. 


13. How can I monitor the effectiveness of my DCA bot?  You can assess the performance of your DCA bot within the "DCA Bot Performance Overview" area. This section gives insights into completed transactions, current gains and losses, among other details.


14. Is it possible to replicate the configurations of another user’s DCA bot?

Yes, there is a feature called "Bot Copy Trading" that allows you to copy the settings of other users' DCA bots, either for free or for a small fee.. This feature enables you to replicate others’ successful trading strategies.



15. How can I filter and sort DCA bots in the Bot Copy Trading marketplace? 

You can filter and sort DCA bots based on various criteria such as market, ROI, duration, and more. This helps you find bots that align with your trading preferences.



16. How do I stop a purchased DCA bot? 
If you've purchased a DCA bot and wish to stop it, you can do so by selecting the "Stop bot" option.


17. Can I view a detailed history of the DCA orders placed by my bot? 

Yes, you can access the detailed history of DCA orders placed by your bot under Order History, which includes order times, sides (buy/sell), prices, sizes, fees, and order statuses.


18. How can I track the performance of my DCA bot over time? 

You can track the performance of your DCA bot over time by viewing the ROI curve graph, which provides insights into the bot's profitability.


19. Will I be able to share my DCA bot’s performance with other users? 

Yes, you can share the performance of your DCA bot with others via the Share Your P&L Snapshot function, letting them view its outcomes and possibly replicate your strategy.



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