“What about this Pairs trade ?” – is a new format of introductory articles created by RevenueBot. Every week we will be providing you with updates on a new trading pair that has reached the top, according to the transactions completed through the service. In addition to providing information about the token, we will also check the trading pair in a bot simulation and see how much of a profit the trader could have made on it, over a period covering the past 60 days.
Insights on Cosmos Token (ATOM)
Cosmos is a decentralized ecosystem that consists of a large number of independent blockchains, based on the Byzantine fault tolerance protocol. The main goal of the Cosmos network is to allow different blockchains to interact with each other, thereby forming an “Internet of blockchains”. The network also uses hubs that represent the Cosmos blockchain and act as a single point. Such blockchains are called “zones,” which are built using the Tendermint Core protocol. With the Cosmos Hub base chain, digital assets move quickly and securely between zones. Thousands of blockchains can connect to it, communicating with each other through a hub.
ATOM is a native platform token that is used to control the entire Cosmos network. The coin also plays a key role in the Tendermint Core protocol and token holders can participate in blockchain staking and validation. At the same time, ATOM holders are given the opportunity to vote on proposals affecting the development of the Cosmos network. The ecosystem offers users a number of unique features and can make cryptocurrency exchanges faster and cheaper. The native token is also a popular stacking coin and is used to pay transaction fees.
From its launch in 2019, the cryptocurrency Cosmos (ATOM) was trading at $7, but then the rate slowly began to fall, reaching a low point of $1 in March 2020. After that, the coin’s value started to rise and it is currently worth $28. This cryptocurrency is ranked at 20 by market capitalization and this altcoin can be considered an excellent tool for trading on short positions.
Disassembling the pair
A bot with a $500 deposit will be used as an example. The settings of the bot will be default ones, you can select them when setting up a “Normal trading mode”, which implies a 25% overlap of price changes, 20 orders, and 5% martingale.
Assuming that the bot traded on the ATOM/BUSD pair from December 1, 2021 to February 1, 2022, with the LONG algorithm, we get the following results:
Hence, over the past 60 days, the trader was able to make a profit of 0.00232450 BTC, which at the current exchange rate amounts to about $90.
Without a doubt, to some people it may seem that the gain made in 60 days is quite small, and to some extent, they will be right. The Crypto market is so volatile that, in some cases, it can generate several “X’s”, but this is more of an exception to the rule. It is much more common to lose all the money that you have invested than to make huge profits in a short period of time.
When it comes to RevenueBot, trading is automatic and requires a very minimal amount of attention from the trader. Of course, if you select more aggressive settings for the bot, it will require more attention. However, the example that we gave used the usual normal settings that involve minimum risks for the deposit. We can say that these bot settings are extremely conservative: the profit is not high, but the risks also tend to be zero.
You can use RevenueBot to create a stable passive income. The platform allows you to create trading bots on top cryptocurrency exchanges such as Binance, Bittrex, FTX, OKX and others. The creation of the bot is free, the platform does not charge any fees until the user starts to make a profit from using the bot for trading. We would like to point out right away that the bot does not have access to the clients’ funds on the exchange, it simply trades using API-keys, which means that the exchange account is out of reach. RevenueBot has more than 40 thousand clients, who are making profit with the help of trading bots.
However, this is not an exhaustive list of the advantages offered by our platform:
- The commission fee is charged only after the user has made a profit;
- The bot settings open up a variety of ways to make a profit;
- RevenueBot has a marketplace where customers can buy a ready-made bot so they don’t have to create their own, or they can also sell their own if the configuration has proven to be effective. Furthermore, users can acquire in the marketplace the services of a mentor (an experienced user of the platform), who is ready to answer questions from beginners. Over time, you can become a mentor yourself and earn an extra income from it.
- Regular updates of the platform’s features, which optimize the trading process.
- The RevenueBot referral program allows you to earn money without having to trade. Refer new clients to the platform and you will get up to 30% of the platform’s commission on all profitable transactions conducted by the new user attracted by you every month (but not more than 15 USD).
So, as you can see, the platform’s advantages are quite numerous, all you need to do is start trading. And why list all the pros when you can check everything yourself on the official RevenueBot website.