BitBrokerTrade
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  • BitBrokerTrade
  • Exchange
    • What is an Exchange?
    • Connect Bitstamp
    • Connect Bitvavo
    • Connect Binance
    • Connect Coinbase advanced
    • Connect Bybit
    • Connect Kucoin
    • Connect Simulator
  • Traders
    • What is a Trader
    • Configurate Trader
    • Trader settings explained
  • FAQ
    • Explanation functionalities
      • Binance API management update
      • Binance API management update II
      • How does the application choose its language?
      • What is the difference between Updown strategy and BitBrokerTrade strategy?
      • How does the UpDown Strategy work
      • How much influence does the level of the return percentage have on the final profit?
      • What is the best return percentage to enter with the trader
      • How and on the basis of which you determine a 'ceiling rate'
      • How is the size of a transaction determined?
      • What is the minimum deposit amount in Euro
      • Exchange: amount reserved
      • Trader setting: Maximum open purchases
      • How does the calculation of the profit work?
      • Can I also try out the operation of the trader first without having to bring in money?
      • The dashboard shows the gross profit, but how do I calculate the net profit?
      • My dashboard suddenly shows a lower profit
    • Error messages
      • An open position but not enough crypto balance on the exchange
      • There are extremely high trading costs on a number of sales transactions
      • The trader does not make any purchases, what goes wrong?
      • My transaction line in the Purchase transactions screen has a red cross status ?!
      • Why does the sale of my BNB transaction give an error?
      • Dashboard data does not match historical transaction history
      • The transaction is not sold while the profit percentage has been achieved
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  1. Exchange

What is an Exchange?

What is an Exchange?

An Exchange offers you the opportunity to buy and sell cryptocurrency. So you need an account with an Exchange (compare it with a bank account) and from here you can buy and sell cryptocurrency.

Practical example:

In practice, you give the Exchange an order to, for example, buy Bitcoin for € 500 at the current rate. The Exchange executes that transaction and collects € 500 + the transaction costs from your Euro account with the Exchange (so you must ensure that there is sufficient balance in that account).

The Exchange deposits the amount of Bitcoin that you have purchased into your Bitcoin account with the Exchange.

If you then give a sales order for the amount of Bitcoin purchased (because the price has risen and you want to convert the price profit into euros), the Exchange will sell the Bitcoin, save its transaction costs and deposit the difference into the euro account. You can transfer the balance of the euro account with the Exchange to your own euro bank account at any time, so that you can use it freely again.

Bitbrokertrade works together with 4 Exchanges, with these Exchanges you can bet the trader:

  • Bitvavo

  • Binance

  • BL3P

  • Bitstamp

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Last updated 5 years ago