How to Use SmartCash Trading Bots on Crypto-Bridge and HitBTC

This post will show you two different trading bots that can be used to trade SmartCash, one for Crypto-Bridge.org and the other for HitBTC. Overall, having more "liquidity" or more available for trading on order books helps. It can reduce volatility, lower "spreads", and reduce costs. You're essentially providing a service of making sure someone can get SmartCash in the future by being an active participant. There are no guarantees you will make any profits, and you can actually lose some. That said, you can configure these to change how much you trade at any time. If this interests you, read on.

Know the risks of trading

Before I begin, just remember that there are risks involved with doing something like this. Here is some standard language just to remind you of what is involved. Responsibility is entirely yours and this site and author take no responsibility for anything you do. This is entirely in your hands. Be careful with securing any computers you use to do this, private keys, passwords, trading settings, and understand that price change and can be manipulated. Also, don't get emotionally invested in this stuff!

This text is from a disclaimer posted on another crypto finance site. Useful information. Hope you read it:

"Cryptocurrency is a digital representation of value that functions as a medium of exchange, a unit of account, or a store of value, but it does not have legal tender status. Cryptocurrencies are sometimes exchanged for U.S. dollars or other currencies around the world, but they are not currently backed nor supported by any government or central bank. Their value is completely derived by market forces of supply and demand, and they are more volatile than traditional currencies. Trading in cryptocurrencies comes with significant risks, including volatile market price swings or flash crashes, market manipulation, and cybersecurity risks. In addition, cryptocurrency markets and exchanges are not regulated with the same controls or customer protections available in equity, option, futures, or foreign exchange investing.

Cryptocurrency trading requires knowledge of cryptocurrency markets. In attempting to profit through cryptocurrency trading, you must compete with traders worldwide. You should have appropriate knowledge and experience before engaging in substantial cryptocurrency trading. Cryptocurrency trading may not generally be appropriate, particularly with funds drawn from retirement savings, student loans, mortgages, emergency funds, or funds set aside for other purposes. Cryptocurrency trading can lead to large and immediate financial losses. Under certain market conditions, you may find it difficult or impossible to liquidate a position quickly at a reasonable price. This can occur, for example, when the market for a particular cryptocurrency suddenly drops, or if trading is halted due to recent news events, unusual trading activity, or changes in the underlying cryptocurrency system. Several federal agencies have also published advisory documents surrounding the risks of virtual currency. For more information see, the CFPB’s Consumer Advisory, the CFTC’s Customer Advisory, the SEC’s Investor Alert, and FINRA’s Investor Alert."

 

apt-get update

apt-get install lubuntu-desktop

Then install Firefox, it's helpful for downloading the Leonardo bot if you're not familiar with wget.

apt-get install -y firefox

Restart the server. You can then just do "view console" in Vultr and you have yourself an instant desktop GUI environment. Easy, right.

Download the ubuntu LeonArdo files and extract them to a folder. Then you just need to double click on "run-leonArdo.sh" and choose execute to run the GUI. Hopefully that step you can figure out!

1. Set up your bot strategies on trading pairs. There is SMART/BTC, SMART/USDT, and SMART/ETH. There are three strategies with LeonArdo: Margin Maker, Ping Pong, and Bollinger Bands. You're welcome to try them all out and see which you like. You can choose the amount of collateral to use and different window settings. Margin Maker puts orders on either side so you are a "market maker". Bollinger bands uses a trading signal to buy or sell, and ping pong just alternates buy and sell orders. Try using all three pairs and you can set up different bots with different settings on each one.

Give it a try and see what works for you!

Setting up a Dexbot on Crypto-Bridge (which runs on Bitshares) to provide market making for SmartCash

This bot is a "market maker", and your account will receive a bonus of 0.05% per filled order from the Crypto-Bridge market maker program.

You can learn more about Dexbot at Medium, or on these two telegram channels: https://telegram.me/DEXBOTbts and https://telegram.me/BTSMarketMakers.

1. Create your CB accounts at Crypto-Bridge.org. Dexbot needs one unique crypto-bridge account per bot, so you may want to set more than one up. There are several trading pairs now so having more accounts means you can work with each one. When you set a name, remember that Crypto-Bridge runs on bitshares so all the names are public. As well as your balances and trade history. So keep that in mind and use something either randomly generated if you care about people following what you do.
2. Get DexBot, you can download it from Github here: https://github.com/Codaone/DEXBot/releases/ or their website https://www.dexbot.info/. Again, you can use either windows, osx, or ubuntu. Your pick. If you use Ubuntu, just keep in mind that you need to click "gui.py" to run it.

This is the guide to running Dexbot on Ubuntu: https://github.com/Codaone/DEXBot/wiki/Installing-and-Running

This is the guide to running Dexbot on Windows: https://medium.com/@CryptoKong123/how-to-install-dexbot-on-windows-9cfcaad76d77

1. Set up a worker. To do this, you need to enter your private key for the bitshares account. It's not your password. It's something different, and can be found using the "private key viewer" after unlocking your account on the desktop or on the web interface under settings > account > private keys. Be careful with this key! Be sure to download your backup that contains your private keys. They cannot recover it for you! Their server does not store any of your information!

For SmartCash, the base pair is: BRIDGE.SMART. Then connect it with any of the other trading pairs, like BRIDGE.BTC, BRIDGE.BCH, BRIDGE.RVN, BRIDGE.LTC, BRIDGE.BTS, BRIDGE.BCO, BRIDGE.DASH, BRIDGE.XVG, BRDIGE.ALQO

Set up the % of your balance to trade and then also the trading margin. This Dexbot places a buy and sell order on either side of the midpoint. So be careful using this is the order books are thin, as it's easy to put one really high or really low. You can always check if the price is reasonably close to a midpoint by using this converter: https://coinmarketcap.com/calculator/

Here is a video on setting up a Dexbot worker: https://bit.tube/playerembed/7214/QmRAKQaJ7kyfSr6Qx5Ux1dd6ryAFGFFvf1B439buhkeqAS

That's the basics of it. If you have trouble with Dexbot configuration try their telegram channel. They're quite helpful.

Overall, having more market making can reduce volatility and make it easier for buy and sell orders to go through. Hopefully this helps!