How the Pionex’s trading bot challenge saved me from BTC’s price drop to $7,750!
I participated in the 1st Pionex challenge to try out their grid bot. Pionex also vowed to refund any loss up to ($500) during the time of the challenge. There was basically no risk involved. (articles below if you need more info about Pionex or the challenge).
I basically set up a grid bot with $500 worth of Bitcoin according to their instructions and this bot was making a daily profit but unfortunately for Pionex BTC took a dive during their challenge.
Now if I would have hodled $500 of BTC I would have lost money that day but Pionex refunded the market-related loss even though it wasn’t their bot’s fault at all. Kudos to Pionex for delivering on their promise. In fact, participating in the challenge actually protected me from the BTC drop.
I didn’t lose a single dollar even though Bitcoin tanked!
If you have missed out on the challenge to trade risk-free, worry not they’ve even doubled down on their initial promise and started a new challenge!
This time they do not only cover any loss that might occur but also double your profit.
Since I’ve already participated in the first challenge I can’t enter the new challenge but regardless, I’ve started a new Infinity Grid Bot XRP/BTC and it’s already doing well as you can see below.
The New Challenge (2019/09/25 ~ 2019/09/30)
- Join Pionex: https://www.pionex.com/en-US/sign
- Sign up via this Google Form: https://docs.google.com/forms/d/e/1FAIpQLSdYltCYDkdDgHjxLYb0CkEZ6BAodeEr8zCAvtxQBZLgaDz7sw/viewform
- Event rules: https://medium.com/bituniverse/profit-doubled-loss-covered-1-000-000-no-loss-insurance-profit-bonus-f18d1de9f59b
- Tutorial how to set up a bot: https://medium.com/@daveyeh.tw/bitcoin-trading-bot-101–1facb0da2644
- Pionex Official Telegram Group (for support): https://t.me/pionexen
More of a Hodler?
If you’re still not convinced by the generous offer from Pionex, you can try PiHodl. When you invest in PiHodl you’re investing in Pionex’s arbitrage bot.
Arbitrage is a way to make money regardless of the market direction all that matters is a relative difference in price between exchanges for a coin pair. As such Arbitrage is fairly low risk, as the coins are sold immediately upon purchase and the direction of the market is irrelevant. Unfortunately, it’s not easy to do for individual traders but you don’t have to do any arbitrage trades yourself, Pionex does all the heavy lifting for you. You’re just hodling on the exchange in return for some interest on your money.
Conclusion
If you’re interested in automated trading or ways to increase your portfolio’s value, there’s no reason not to try it. There’s no risk and the bots function really well. You don’t often have the chance to try something 100% risk-free. Even paper-trading is never the same than doing actual trades but this is. If after the challenge you decide it’s not something you want to continue doing just stop the bot wait 10 days for the refund and withdraw your money.
The above references an opinion and is for information purposes only. It is not intended to be investment advice and may contain affiliate links. Seek a duly licensed professional for investment advice.
