Presented by ICE3

iCE3 launches cryptocurrency trading bot

South African cryptocurrency exchange iCE3 has launched a trading bot, which allows local cryptocurrency investors to automate their buying and selling.

Named the iCE3 Autotrader, this managed trading bot is configurable to each user’s personal trading parameters.

It is easy to get started with the service, and to set up and configure your own trading bots on the exchange.

Traders who use high-frequency trading bots typically use the following strategies, which are all supported by the Autotrader bot:

  • Market Making
  • Arbitrage
  • Algorithmic Trading

A market making trading bot, for example, will automatically post limit buy and sell orders and wait for other participants to fill the orders.

Using iCE3’s trading bot functionality, you can set up this service and configure everything from how far away from the mid-price the buy and sell orders are, the order quantities, and the update rates.

Configuration options for iCE3’s trading bot include:

  • Exchange – Choose which Exchange and which Trading Pair you want to run your bot on.
  • Set your Spread – The bot will place buy or sell orders at certain range from the mid-price.
  • Minimum Spread – The bot will check every tick and cancel the active orders if an order’s spread is less than the minimum spread parameter.
  • Update Intervals – An amount in seconds, which is the duration for the placed limit orders.
  • Order Amount – The order amount for the limit bid and ask orders.
  • Swing – This option sets the bot to alternate between buy and sell orders after a fill happens.

The service offers cross-exchange market making through API connections to iCE3, Binance, Kraken, and Bittrex.

Users can also set up the automatic trading bot to conduct arbitrage trading between these exchanges, as well as algorithmic trading.

Launch and availability

The iCE3 trading bot will be rolled out and made available to AIC token holders in October 2020.

Users can also sign up for the iCE3 Autotrader beta on the exchange’s website.

AIC, or AI Coin, is the native utility token for iCE3 Exchange. It is an ERC20 token that is transacted on the Ethereum network.

Holders of 1,000 AIC coins or more can get a 50% discount on all trading fees and 100% discount on trading fees on balances of 10,000 AIC tokens or more.

iCE3 Exchange supports the trading of South African rand for Bitcoin, Litecoin, Ethereum, Dash, ZCash, Monero, AI Coin, and much more.

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iCE3 launches cryptocurrency trading bot