How much do you need to start any crypto bot?
There is a minimum amount which can be traded on each exchange, and it depends on the cryptocurrency exchange and the pair, an 11-dollar equivalent is usually enough for any pair. To calculate how much funds you need for a certain trading bot, you may use the formula: The first-order volume + (the first-order volume x volume of the extra orders) + the exchange's fee
You can also check with your exchange trading rules regarding the minimum order cost, for example, here’s Binance Trading Rules
Or, you might want to just use our calculator, which is available when you edit or create a new bot
*approximate total based on current rate and does not include exchanges precision rules and commission Note: The fee is not included in the calculation since, in some cases, it may not be charged at all or can be paid with other coins (as is the case with Binance, for instance)
Q: Is the exchange's fee factored into the profit calculation made by the bot?
A: Yes, the bot considers the exchange's fee when calculating the take-profit price.
Example:
The take-profit value percentage (the amount of profit you aim to achieve eventually); The number of extra orders executed (which recalculates the take-profit value each time an extra order is executed)
If the fee were not included, there would be a high risk of closing your deal at a loss because your profit would not be sufficient to cover the fee.