What exchanges does Pionex bots support?

What exchanges does Pionex bots support?

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When it comes to cryptocurrency trading, there are many options on the market. Most of the crypto exchanges available require users to make their own trades with their own parameters. Pionex Exchange is looking to change that by offering 16 free trading bots for users.

Once you register for a Pionex account you are immediately given access to their trading bots, which can be used with pre-sets or customized to your liking. For both beginners and experienced traders this is a powerful tool, as it takes the guesswork out of trading and let’s you earn profit with minimal efforts. If you are interested in using trading bots on an exchange, CryptoVantage’s Pionex review has all the information you need to make a decision.

Pionex Overview

16 automated trading bots available for free

Large selection of trading pairs and assets

Pionex is one of the biggest market makers for Binance and Huobi

FUNDING METHODS Cryptocurrency onlyCRYPTOCURRENCIES 200+COUNTRIES Most (but several restricted countries)

Pionex Pros & Cons

Pros

  • Free trading bots

  • Low fees on almost all transactions

  • Tons of different cryptos

Cons

  • Cannot exchange crypto for crypto on platform

  • No fiat supported

  • Could be overwhelming for new crypto users

Pionex at a Glance

HEADQUARTERS:Singapore

USERS:100,000+

TRADING VOLUME (MONTHLY)$5 billion

DAILY WITHDRAWAL LIMIT

$2,000 (Tier 1), $1m (Tier 2)

OVERALL RATING:Medium

What You Can Buy on Pionex

Pionex supports a wide range of cryptocurrency coins and tokens because one of the main exchanges it uses is Binance. Binance has one of the largest ranges of trading pairs on the market and Pionex takes advantage of this. Some of the assets available for trade on Pionex are:

  • Bitcoin (BTC)

  • Ethereum (ETH)

  • Solana (SOL)

  • Near Protocol (NEAR)

  • Terra (LUNA)

  • Polygon (MATIC)

  • Dogecoin (DOGE)

  • Cardano (ADA)

  • Tezos (XTZ)

  • Cosmos (ATOM)

Supported Operating Systems

Pionex is only available through visiting its website via web browser.

There is a mobile app for Android and iOS, but it requires a separate sign up than the exchange. It is called PionexLite.

Automated Trading on Pionex

Pionex offers two types of trading on its platform: Trading Bot and Manual. Manual trading is just like on any normal exchange, you can set a limit order, or make a market order. Their trading bot offerings are the main draw of Pionex Exchange. Pionex offers 16 different free trading bots for users to use. These include:

  • Grid Trading Bot: 24/7 bot that buys low and sells high

  • Martingale Bot: DCA buying bot with one-time sell off

  • Spot-Futures Arbitrage Bot: 15%-50% APR with low risk

  • Rebalancing Bot: create an index and the bot rebalances your portfolio automatically

  • Leveraged Grid Bot: add leverage to a standard grid bot

  • Margin Grid Bot: borrow funds to use with a standard grid bot

  • Reverse Grid Bot: first sell high, then buy low

  • DCA Bot: dollar cost averaging bot

Pionex runs their bots on major exchanges such as Binance and Huobi. As a result, they are one of the biggest market makers for both exchanges and are able to offer low fees to customers.

Is Pionex Safe?

Yes, Pionex is safe. Most of its trades take place on Binance and Huobi, meaning the security of Pionex is tied to the security of those platforms.

It is a registered Money Services Business (MSB), having been granted the license in April 2020. Pionex is the first crypto exchange with trading bots that was granted the US FinCEN MSB license. The only risk you have with Pionex is the same with any exchange, and that is that you do not hold custody of your funds.

What are Pionex Fees Like?

Pionex is able to take advantage of being a top market maker on both Binance and Huobi and therefore offers low fees to customers.

All trades on Pionex incur a 0.05% fee, which is lower than Binance or Huobi. There are also no additional fees for using the trading bots. Pionex fees are some of the lowest on the market.

Frequently Asked Questions About Pionex

Can you make money with Pionex?

Yes, you can make money with Pionex. It is possible to lose money though too. It depends on the bot and strategy implemented.

Does Pionex work with Binance?

Pionex does not work directly with Binance. However, they use Binance Exchange for a lot of their trades, and are one of the top market makers on the platform.

How many bots can you run on Pionex?

Pionex allows you to run up to 30 bots per trading pair. There is no limit to the number of pairs you can run a bot on with Pionex.

Can you use a credit card on Pionex?

No. Pionex does not offer any fiat on-boarding of any kind.

That means credit cards, debit cards and even wire transfers are out. You can only use crypto to deposit on the site.