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Learn how to set up and run a Buy The Dip Crypto bot in order to build up your base currency in a falling market by reading this article!

When someone says, “Buy the dip,” they mean to buy a coin after its value has dropped. When the price of a coin drops, investors have an opportunity to buy more of it and increase their profits in the future. When the price of the base currency drops, one of the most effective ways to trade a downtrend is to accumulate more of the base currency.

The Buy The Dip Crypto Bot can be used to boost the value of a particular pair’s base currency when the price is falling.

Key Facts

  • Going long a coin after a short-term decline in its price is known as “buying the dip.”
  • It’s possible to profit from buying the dip in strong downtrends with frequent price rebounds.
  • Because the coin is purchased at a lower price and in greater quantity when dip buying, the overall cost of ownership can be reduced.
  • As a result of this, result values are based on whether or not the base currency has increased or decreased as a result of a Dip Bot trade.

How to create a Buy the Dip Crypto Bot

Step 1: Create an account on -> Bitsgap

Step 2: To start a new Buy the Dip Bot, you need to click the [Start new bot] button located in the top menu of the Bots page.

You will see a pop-up window showing all the available bots that can be started. Select Grid bot.

Select Buy the dip from the list of available bots. A new widget will appear in the right-hand corner of your screen, allowing you to change the settings of your Buy the Dip Bot.

Step 3: Select Crypto Exchange and Trading pair

Select one of your connected exchanges and pick the trading pair where you would like to create your Buy The Dip bot.

Step 4: Investment Amount

Enter the total Investment value you would like to operate with. The investment value reflects both the amount of base and quote currency required to start the bot in form of the selected system currency.

Step 4: Trading Frequency

Select how often your bot will execute orders. There are 3 options available:

  • Slow: The slow mode will place fewer grids with the grid step of 3%. The bot will execute orders less often, but the profit will be bigger.
  • Average: The average mode will place grids with the 1% grid step. Balanced profit per trade option.
  • Fast: The fast mode places plenty of grids with the 0.3% grid step. The bot will execute a lot of orders per day, but the profit from each trade will be smaller.

💡 Tip: If it is your first bot, I recommend you to start with the Average option and then decide the frequency for your next bot based on the received results.

Step 5: Protection (Optional)

You can set extra protection to secure your profit when the specific amount is reached or leave the market completely to avoid any further losses if the price goes in the opposite direction (Take Profit / Stop Bot).

Step 6: Start Bot

Click the [Preview Bot] button to create your first Buy the Dip Bot. You can backtest your bots to see how your bot would have performed in the past with chosen setting. However, please note, that the Backtest results are based on past data and don’t indicate future results.

Review all the selected settings and run your bot if they suit you. Click the [Confirm] button to create your Buy the Dip Bot.

The Buy the Dip Bot strategy is a perfect solution to accumulate more base currency on the downtrend. With the bot, you can lock in a lower average cost for coins of a particular cryptocurrency.

Live Bitsgap Results:

https://app.bitsgap.com/bots-sharing/0c82d8ac

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