Gate Institutional AMA series with Smart Crypto Bot

2023-04-23, 11:01

Gate Institutional Department hosted an AMA (Ask-Me-Anything) session with Bas Knobbout, Business Development Manager at Smart Crypto Bot, on Gate.io Exchange YouTube channel.
SCB Official Website: https://www.smartcryptobot.com/
SCB Twitter: https://twitter.com/smart_cryptobot
SCB Telegram: https://t.me/+ItJkYhFYaMxiZDI0
SCB Facebook: https://www.facebook.com/smartcryptobot
Follow SCB on social media

Guest

Bas Knobbout, Business Development Manager at Smart Crypto Bot

This is the ninth episode of the Gate Institutional AMA series with “Smart Crypto Bot”. Bas Knobbout, Business Development Manager at Smart Crypto Bot, discusses their free-to-use cryptocurrency trading bot that offers customizable strategies and parameters. With a focus on simplicity and trading power, Smart Crypto Bot differentiates itself by providing fully configurable settings without any limitations. Bas also discusses how SCB tests and refines bot strategies over time by monitoring the market and uating historical performance, as well as how SCB mitigates risk through features such as Stop Loss. The episode promises to be dynamic and informative, providing valuable insights into SCB’s approach to crypto trading automation.

Introduction

Gokay (Host): Hello everybody! This is the ninth episode of our Gate Institutional Ask-Me-Anything series. I am Gokay from Gate.io Institutional services. Our team manages a wide range of institutional clients, including hedge funds, institutional traders, high net worth individuals, and family offices.
So, welcome to our AMA series with “Smart Crypto Bot.” I’m excited to introduce our dear guest, Bas Knobbout, Business Development Manager at Smart Crypto Bot. Thank you for being here with us. Hello, Bas! How are you doing?

Bas: I’m doing fine! How are you, Gokay?

Gokay: I’m great! Thank you for asking!
We are looking forward to a dynamic and informative session ahead. So let’s get started!

Q1: Bas, tell us a little about yourself. Who is Bas Knobbout? And what’s your background?
Bas: So, my background is primarily as a developer. I’ve always been programming and have been heavily involved in cryptocurrency for the past 8 to 10 years. Over the last few years, I’ve been working on Smart Crypto Bot, which has been an exciting experience. Recently, we have developed an application aimed at automating crypto trading. In this project, my role has been focused on handling the business side of things, ensuring smooth project operations, and developing new features. Essentially, I’m responsible for keeping the ball rolling on projects.

Q2: How did Smart Crypto Bot come to life and how is it positioned in the market?
Bas: Smart Crypto Bot was established in 2018 and is currently in active development and available for users all around the world. We maintain a strong online presence and are working diligently to further enhance our platform. We hope to get bigger, but nothing major yet.

Q3: Can you explain the business model of Smart Crypto Bot and the services you offer to your clients in the cryptocurrency industry?
Bas: SCB’s business model is fairly simple. We generate income and operate on the platform based on the trading fees incurred on the connected exchange, which in this case is Gate.io. Our income is generated through transaction fees that are charged when trades are uted. These fees are used to cover the costs of hosting and maintaining the platform, allowing us to keep it running smoothly. As the platform is fully online, users can easily register for an account and set up their bot with a license and personalized settings in their browser. This means you can set up strategies, configure your own stop loss settings, and design your own strategy bot. So basically, all the popular options like Trailing Stop Loss, Stop Loss, Take Profit, and Bollinger Bands are included. Additionally, you have the option to fully customize your own strategy if desired.

Q4: What is SCB’s current focus?
Bas: Our current focus is primarily on keeping the program alive despite the challenges of the past few years, including the impact of the COVID-19 pandemic. We have faced some difficulties, but we are working through them and are confident that we will manage them successfully. We are also working towards making the platform more accessible to new traders who are just entering the market, ensuring they have a pleasant experience navigating through our platform. We have a full redesign coming soon as well. Our main goals are simplicity, trading power, and establishing a strong online media presence. That’s where our focus lies.

Q5: Can you please explain how your crypto trading bot works?
Bas: Yes, of course. So first, you have to register on our website to create a bot. At the moment, we are not charging fees, so the bot is free to use for everyone. Our bots work with licenses and are IP-whitelisted. This means you’ll have to whitelist the assigned IP-address on your connected exchange in order to start trading. Once connected, you can choose your strategy and parameters. Please note that we do not provide financial advice, as it is fully configurable by the user. It depends on how you set up the parameters to maximize profit and minimize losses, as it is all in your own hands. Then you have to select the coins the bot will have to look for on the exchange. Once everything is set-up, you simply have to enable your bot and it goes to work. Since we are not charging fees, you don’t have to worry about the bot running to a halt, it will run as long you have it enabled.

Q6: What sets SCB apart from other trading bots?
Bas: What sets us apart, is our pricing. We ask nothing and it is free to use fully. We also provide our clients with the opportunity to customize every setting in their application, without limitations on how the strategy is implemented, unlike most other bots. This allows our clients the freedom to work with the application in the way that best suits their needs.

Q7: How do you test and refine your bot strategies over time?
Bas: It’s a good question. Essentially, it boils down to monitoring the market and assessing the performance of the strategy you have developed. Once you have formulated a strategy, you can analyze its historical performance based on the past data of the coins. Using this price data, you can uate the expected results. The bot looks at previous price points to identify buy and sell points, and based on that, it can provide insights on how the bot is expected to perform.

Q8: How does SCB mitigate risk and handle unexpected market fluctuations?
Bas: Currently, we are only integrating with exchanges, which means that the mitigation and risk management is primarily handled by the exchange itself. However, we have implemented important strategies such as Stop Loss in our bot, which allows you to prevent significant losses or market crashes. For example, you can automatically disable the bot, sell all assets, and convert them into stable coins when certain events occur. These actions can help prevent major losses and mitigate risks effectively.

Q9: How much technical knowledge is required to set up and manage your crypto trading bots? Can a beginner get started easily?
Bas: Currently, yes, it can be difficult to understand initially. However, that’s precisely why we’re undertaking a complete redesign of the platform - to make it more user-friendly and easier to manage. Currently, upon logging in, it may feel overwhelming and leave you wondering, “What am I looking at?” But once you start exploring and familiarizing yourself with it, it becomes much easier to comprehend, and you can quickly get the hang of it.

Q10: What are the biggest challenges facing the cryptocurrency industry today, and how is SCB addressing them?
Bas: I think the biggest issue at the moment in the cryptocurrency industry today is trust. Ensuring transparency and legitimacy of projects is essential for creating a more secure and reliable eco. SCB is working hard to build trust by providing a user-friendly and transparent platform for traders to invest in new projects with confidence.

Q11: How has SCB’s experience been so far working with Gate.io?
Bas: We have many meetings and discussions about topics such as market performance, potential new implementations, and deals for our users. Gate.io has been the most active partner we’ve been working with so far. So we are happy with that.

Gokay: I’m thrilled to hear about this, and we are also excited to be partnering with SCB.

Q12: Can you provide any insights into the future direction or plans of your company?
Bas: As mentioned previously, we are currently undertaking a complete redesign. In addition, we need to update our timeline, as it is outdated due to the impact of COVID-19, which disrupted our plans. Our primary focus is now on putting together a new timeline, ensuring that everyone is aware of upcoming changes, and making sure that we are staying healthy and that users can use our platform.

Q13: And finally, what is the most important point do you want our audience to take away from today’s AMA session?
Bas: I believe the most crucial aspect for people to be aware of when trading in cryptocurrencies is the importance of conducting their own research. It’s essential to understand the purpose and function of the coin, as well as how the market operates in general. Due to the highly volatile nature of the cryptocurrency market, it can be challenging to comprehend why it experiences sudden crashes or extreme surges. Therefore, it’s crucial to have a solid understanding of how to handle such situations. We aim to provide assistance through our application and hope that individuals continue to enjoy trading in cryptocurrencies while comprehending the intricacies of the market.

Gokay: That’s a great answer. And I think we shouldn’t be overly focused on maximizing profit. Instead, we should prioritize consistency and minimize risks in the most prudent manner.

Ending

Gokay: Bas, thank you so much for your time and insights. Your extensive knowledge about Smart Crypto Bot has been eye-opening, and I’m sure our audience has a better understanding now about your crypto bot. It was a pleasure talking with you and learning the details. I’m even more interested in SCB now and looking forward to exploring more. Feel free to visit SCB’s website, read more info, and get in touch for an enriching experience.
So, Bas, would you like to add anything else?

Bas: As our platform continues to grow, we would greatly appreciate feedback from our users. If you have any suggestions or comments about the platform and areas where we could potentially improve, we are eager to hear from you. We value your feedback and would be grateful for any insights you can provide.

Gokay: Thank you once again, Bas! And thanks to everyone who always watches our AMA series. Follow us on social media, for more information, and write to our key account managers.

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Author: Cedric, Gate.io Researcher

*This article represents only the views of the researcher and does not constitute any investment suggestions.

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