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Earn money with Crypto regardless of the trend

I am building Python Crypto bots that trade for me while I am at work or asleep.

Piraeus West Jr.

3-Minute Read

Bitcoin image

Earn money with Crypto regardless of the trend

The theory

Basically, there are two ways to earn money with crypto; investing and trading.


Investing in crypto takes quite some research on the purpose and principles of a coin. Based on that research, you decide which coins you expect to increase in value and these are the coins you buy. You either try to buy the coin at a low (which is virtually impossible, because you’ll have to predict the market) or you periodically invest (a.k.a. Dollar Cost Averaging). That way you mitigate the risk of buying at the wrong moment by buying the average best price. Once you have bought your coins you wait for your coins to make you a millionaire. Easy. But also quite risky, because if you invest in the wrong coin or at the wrong time, you risk losing most or all of your money.


Trading is a more active approach towards making money with crypto. It involves analyzing the movements of the markets, buying low and selling high, choosing your time frames and utilizing the more advanced trading techniques like shorting, margin trading and futures. Trading can take a lot of time, some people are making it a full time job. Although trading can take a lot of time, it does allow you to manage your risks and make sure you limit your losses.


So what if you don’t have the time to trade, but still want the benefits of controlled profits and limited losses? Then you make a bot that trades for you. There are many services on the web that provide an out-of-the-box bot, but you can also program one yourself. Python is a very fast and convenient language to target the API’s or SDK’s of the crypto brokers.


Instead of buying low and selling high or going short, you can also buy so called “Non Fungible Tokens” or NFTs with your crypto.

My experience so far


After some research I ended up with the usual suspects: Bitcoin and Ethereum. Nevertheless it can be nerve wracking to see your investments go up in smoke as the price plummets, as it did last January. If you are in for the long run and strongly belief crypto currencies will replace conventional money in the long run, this is for you. Otherwise, I think I would prefer traditional stocks.


Crypto markets are volatile as hell, so provide excellent opportunities for (day) trading. Buy low and sell high sounds easier than is sounds though. You’ll have to take some time to study Technical Indicators and practice a lot with dummy accounts or offline trading. And when you do start, please don’t make the mistake I made and choose a broker that supports OCO orders. Nothing more frustrating that hitting your stop-loss after having missed a profitable high!

Crypto bot

Building a bot requires access to a broker API. I am using Binance. Please support me by using this affiliate link.

There is a setup of a possible python bot in this article


Most NFTs are already incredibly expensive and heavy debate is taking place on the underlying value of an NFT. As an experiment, I minted my own NFT’s and listed them on OpenSea. So please buy them :) In a future blog I will probably explain the process of minting an NFT.

An interesting new type of Web3 application is STEP’N. With STEP’N you can mint or buy your own NFT Sneaker and earn tokens (GST and GMT). I will post more on this topic later.

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Jupiter Swears is an anagram of Pireaus West Jr., writing about all interests