Discover the bitRage Ultimate Guide Explained in this Easy Step By Step article
Take advantage of your own Automated Arbitrage trading Software that scans the exchanges non stop looking for opportunities to profit from the disparity in price between 3 or more cryptocurrency markets.
Put, if you trade (buy or sell) BTC-ETH, then USDT-ETH followed by USDT-BTC, and the result is more BTC than when you started the triple-trade sequence, bitRage will go for it!
Now, Imagine those operations been calculated across an entire Exchange through all the crypto coin combinations available.
bitRage is a crypto trading bot that automatically selects all possible triangulation within the same exchange and sends orders only if the final result is a profit.
The bitRage Ultimate Guide for the Number 1 Arbitrage Bot in the Automated Crypto Trading Industry
Do You Know You Can Get bitRage Unlocked in Gunbot Automatically?
First, you should know that you need to be a Gunbot owner before upgrading and using bitRage. If you don’t have Gunbot yet, you can visit my Gunbot Reseller Store, Offering Gunthy Official Discount on Gunbot Licenses.
After that, you need to be a Top 20 token holder in the gunthy ranking system, so it means that you will need around 12k gunthy tokens in your wallet to run bitRage.
The update is automatic.
All you got to do is buy the coins and add them to your Gunthy wallet.
Note: The Gunthy Ranking System is Not a competition between users, and nobody can kick you out once you have your place secured.
Top 20 is Not only 20 people, is a rank, and the only way you can lose it is if you Sell your Gunthy tokens, this is a system that allows you to unlock Gunbot features and encourages holding the token, which, in turn, adds value to your license.
There is a ranking spreadsheet where you can check, but you really don’t need that.
You can check your rank in the console where it starts, and also, in the GUI, you will see the bitRage tab confirming you got access to the bot settings.
Don’t delay Get Your Gunbot and unlock bitRage so you can Start Making Money Today!
bitRage Ultimate Guide Strategy Setup
Your First Step is to create a new Strategy; click on the “strategies” tab, and the option will show. After giving it a “Nickname,” all you need to do is choose bitRage for Buy and Sell methods.
Note that you can also click the “select” box, scroll down to choose the pre-loaded method, and then hit create.
All the relevant settings will be loaded on the strategy once created
Now you can set up your preferences within the strategy, which are:
bitRage-mode (safe or crazybitch)
Gain (your desired gain percentage)
DCA Strategy (your Dollar Cost Average or RT method to handle bags)
Wait Open Orders can be On or Off
CloseSpread is an On-Off choice too
Note: You will have to create a strategy to handle your bags; you can use any regular Gunbot strategy and enable DCA, StopLoss, or RT to handle your bag handling task.
You have to be aware that the ANY failed arbitrage operation will instantly create a bag; therefore, pair selection and a fine-tuned bag-strat are critical.
My advice is to set the gain percentage slithy lower than in your bitRage strategy, never at a loss but almost at break-even.
This way, there is a chance you could break even fast and move on to the next trade without having to average down.
If you have to average down, keep in mind that your settings apply to all your selected pairs.
In case of a huge dip across the market, your main balance will take a hit, so be smart about when to DCA and how many rounds you will go for.
If you want to use bRHedging, click on the Hedging tab and select your chosen parameters. Learn More About bR Hedging Strategy
If you choose to do bR Hedging, be aware that Panic Sell means selling all your coins at market price; if you haven’t made enough profit yet, this may result in a loss.
After setting up your strategy is time to edit your exchange values; as my personal advice, I recommend using one exchange per instance, at least for now, while you get used to it.
bitRage Ultimate Guide Exchange Setup
You’re supposed to have your API Keys and chosen exchange at this point, so click on the profile icon and then click on your chosen exchange.
After that, click the green button to “Show bitRage Settings.”
The most important concept you need to understand in this bitrage ultimate guide is that “Filtered Base” does not mean exclude base, it only means the base on the filtered base won’t be used in Reverse, thus giving less importance to the filtered base, but bitRage will still use it to trade with.
The best example, in this case, will be USDT, which is always Base vs. BTC.
In this case, USDT filtered means BTC will have priority when traded against USDT, allowing you to profit from USDT but not accumulate.
The opposite will apply, of course, if you choose to filter BTC.
So you add the “less important” base coins of your choice in this section.
If you really want to block Quote coins, you can use “Filtered Quote,” The only way to really Exclude a base is through “Filtered Pairs,” for example, USDC-ETH or BTC-ETH filtered as pair will disable this pair for trading.
Let me give you a few examples:
Filtered Base: PAX, bitRage looks for opportunities but won’t fire PAX as the main base or try to accumulate PAX
Filtered Pairs: PAX-LTC will block trades between PAX and LTC but won’t block PAX-BTC or any other coin from trading vs. PAX
Filtered Quote: DOGE will disable DOGE to be traded or considered to profit from an arbitrage opportunity
In this section, you can choose Autopairs, but I will strongly suggest you Do not use this option unless you really know what you’re doing and understand that this means adding ALL the coins from the exchange, so if you’re OK with this and have the capital, go ahead.
Alternatively, you can use Autopairs with Included coins and add the selection of coins you want to include.
Tick Time should be enabled and use any time (in seconds) for the tick interval; if you go too low, it may give you errors, so it is recommended to start high then lower it as needed.
bitRage Ultimate Guide Coin Selection
Coin Selection is one of the keys to success with bitRage, you can find an arbitrage opportunity with a low volume coin, but since most of the times, these opportunities have fired a Limit Orders on the exchange, your trade can be sitting for a few hours or days if the coin you choose have low volume or is dying out.
Gunthar once mentioned “Filter Yourself,” meaning choose coins you feel comfortable holding for a period of time, and I will always recommend that as well.
One easy way is to visit CoinMarketCap and read about the coins you’re going to choose, check their site, their BitcoinTalk thread, see if the coin is listed in big exchanges, and so on.
Of course, this won’t guarantee anything, but you can do something to gain confidence in the coin you choose.
TIP: Sort the crypto coins by 24h Volume in the Exchanges and if you’re trading at Kucoin, stay away from coins marked with *st, which means Special Treatment coins waiting to rebound or be delisted, be aware of that.
Do your Own form of Fundamental Analysis and Research before TRADING any cryptocurrency.
bitRage Ultimate Guide Trading Limits
The last thing I would like to mention is the Trading Limit or TL for your base coin selection. Here you decide how much base coin you would like to allocate per trade; this is Not your capital, just the amount of a particular coin used on each trade.
Example USDT: 15 will use $15 for each trade involving USDT; you have to indicate the desired amount in this section
As you can see in the picture, there are some pre-loaded base coins, but not all.
My recommendation is to add the base coins for the particular exchange you are trading on, add “BASE COINS,” not “QUOTE COINS,” this is a choice if you’re filtering a particular base or pair.
You really don’t care to show any value related to this base.
NaN (Not A Number) or Undefined will be the reply from the console in case you don’t add TL for a Base been scanned by bitRage
TIP: Make sure the amount you use is a Value Equal to or Higher than the Exchange Minimum Trading Rules.
At the time of writing this article, 0.001 BTC is $9.25; in this case, you can buy an Altcoin with 0.001 Bitcoin, but you won’t be able to sell that for USDT on Binance because it is less than the minimum trading rule of $10 USDT.
My advice in this bitRage ultimate guide and Rule of thumb is to set an amount higher than the minimum allowed by the exchange to give some room for price fluctuations.
As you can see on the TL picture, I have set mine at $15 and the equivalent for other Base coins, and of course, to make it all equal to $15 all the time is impossible due to the crypto market volatility, but at least you got some room to play for a while with those settings.
bitRage New Feature – Include Triple.
– Add Triples to the exchange bitRage settings. Enter a comma-separated list without blank spaces, saved like an array.
This is a simple yet convenient feature because it allows you to run the triple you choose and let it run in the background while you’re spot, margin, or futures trading with Gunbot.
For example, let’s assume you want to catch arbitrage opportunities between USDT, BTC, and ETH. In that case, all you got to do is add those three coins to your INCLUDE_TRIPLE parameter.
The bot will keep scanning those triplets 24/7 on the exchange and fire the trades once the opportunity appears in the market.
You can test any triple behavior by setting your “WATCH_MODE”: true, on Gunbot and check one triple at a time, so you can observe prices, opportunities, trades, etc., without having to use your real money.
Note: Without the include-triple option, even if you set “AUTOPAIRS”: false, and you configure only one pair, that pair will generate dozens of triplets.
Make sure you use this new bitRage feature wisely, so you don’t have to trade the whole exchange and end up with tons of shitcoin’ bags.
bitRage’s Logic Remains the Same:
Step 1: bitRage check for market orders.
Step 2: bitRage finds arbitrage opportunities.
Step 3: bitRage fire the orders.
Step 4: bitRage checks, and if the price we need to profit is not there anymore at the moment it fires the order, it will fall back to limit order so Gunbot can take care of it with your regular spot strategy.
Remember that picking the right crypto pairs to execute your arbitrage trading strategies is a critical process that you need to pay attention to if you want to be successful with bitRage
There are a few different ways to go about it, but one of the most important is how correlated the coins are. When there is a low correlation, there is more potential for trades that will generate bigger profits. Still, be careful with low-volume coins.
Then again, the answer to the question. Which Crypto Pairs Provide You the Best Arbitrage Opportunities? Need to be based on your research and personal experience. Nobody should answer that for you.
So there you have it, Your bitRage Ultimate Guide explained Step by Step.
Please let me know if you have other questions in the comments below or contact me thru Telegram or any other social media channel of your liking.
Finally, I would like to add as a disclaimer that bitRage is still in beta production so that I won’t be making any claims of profit and strongly suggest you that don’t believe anybody claiming daily percentage gains or any similar statements for bitRage, Gunbot, Market Maker or any other automated crypto trading software or even manual trading.
Understand that crypto trading is a risky business, and you can lose your hard-earned money while you sleep, so please never trade with your food or rent money, keep learning, manage your losses and enjoy your gains.
I really hope you use this bitrage ultimate guide to set up your bot and start bitRaging Now!