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What people asked us?

New to Crypto and trading? Take a journey with us as we guide you
through the world of Cryptocurrency and trading.

  • How do I pay the weekly user fee for Digiebot?

    1. You will be invoiced each week and you can transfer funds from your internal wallet to pay the fee.

    How often will I be billed for Digiebot?

    1. Digiebot is an annual subscription that will be billed and due on your 1 year anniversary. You can cancel a subscription at any time.
  • If we set Digie at a 3%profit and the market moves up 10%, does Digie Get out at 3% or take advantage of the 10%?

    1. DigieBot has a built in stop that trails the trade when the trade for example reaches 2% in profit. (When the price goes up, it drags the trailing stop-loss along with it). So, if the trade continues to go up, Digiebot could gain more than the 3% you set.

    Can you set a Withdrawal percent in DigieBot?

    1. Yes, you have the option to select a “Profit Percentage” when setting up your trades. The profit percent will force DigieBot to exit the trade at a specific percentage (1% - 5%).

    Does DigieBot profit in uptrending Markets?

    1. Yes, DigieBot can profit in uptrending (Bull) Markets. When you purchase a coin and the price goes up, you have the potential for profit. However, DigieBot can also make profitable trades in a sideways and down market, depending on the liquidity and volume.

    Does DigieBot show total amount earned in a trade?

    1. No, Digiebot will show the % of gain or loss for each trade. To see the total amount earned, you can check your account balance in your exchange.

    How do we get money from DigieBot?

    1. When DigieBot buys a coin, it uses your Bitcoin balance you have in your exchange to purchase the coin. When it sells the coin for a profit, the balance is exchanged back into Bitcoin in your exchange wallet. The more profitable trades you have, the more your Bitcoin balance will grow in your exchange account.

    What does Scaling In and Out mean?

    1. Scale in is the process of purchasing coins as the price decreases. To scale in (or scaling in) means to set a target price and then invest in increments as coin prices fall below that price. This process continues until the price stops falling or until the intended trade size is reached.

    Do you need to do Cost Averaging with DigieBot?

    1. No, it’s not necessary to do cost averaging with Digie, since the autobot will automatically make the best decisions for when to purchase and when to sell. It will be, however, up to you to decide the quantity for each trade.

    What is Dollar Cost Averaging?

    1. Dollar Cost Averaging (DCA) is an investment technique of buying a fixed amount of a particular cryptocurrency, on a regular schedule, regardless of the price. The investor purchases more coins when prices are low and fewer coins when prices are high.The technique is so-called because of its potential for reducing the average cost of the coins purchased.

    What does Liquidity mean?

    1. The ability to buy or sell an asset without changing the price.

    What Brokerage does DigieBot Trade with?

    1. Digiebot will be trading on Binance. You will need to have a Binance account if you do not have one yet. You can open an account at www.binance.com

    What is Fiat currency?

    1. Fiat Money is a money with no intrinsic value (Example: It is not backed by gold or silver) that was made legally tendered by Government. The U.S. Dollar, and Euro are examples of a Fiat Currency.

    What is Binance?

    1. Binance is an cryptocurrency exchange that is based out of China, where you are able to do crypto to crypto trading. www.binance.com

    How to set up a Wallet?

    1. Each wallet has it’s own unique directions for setup. It will depend on what wallet you choose. You will need to follow their steps to setup your account.

    What is a Wallet?

    1. A wallet is in a sense similar to a bank account, but it is a place you store your digital coins. You have the ability to store, send, or receive coins from your wallet. You need a wallet for your coins whether you decide to trade them or not. You must research carefully, the wallet you choose to use to avoid Fraud and scams. One such Wallet, is Coinbase.
    2. There are different Types of Wallets out there. Here are some examples:
      1. Hardware Wallet
      2. Online Wallet
      3. Mobile Wallet
      4. Desktop Wallet
      5. Paper Wallet

    Are there any transaction fees involved for Cryptotrading?

    1. Yes, there are fees involved with each exchange. You will need to do some research on exchanges due to the fact that some exchanges charge higher fees than others. You will pay for the ease of use and speed of an exchange, and you will need to determine what you are willing to pay for the exchange with the best security.

    Is BitCoin Anonymous?

    1. Bitcoin is Pseudonymous. While you do not necessarily give your personal information out with your transactions, due to the fact that any transaction is linked to your identity, then your address you transact on, will be linked to all your transactions. And those transaction are recorded on the blockchain forever. Keep in mind, we are not talking about your actual physical address. The only way to be somewhat anonymous, is to use a new address for every transaction you make, but this does not guarantee complete anonymity.

    Where can I spend Bitcoin?

    1. You may spend your Bitcoin Online and Offline. Here are some examples:
      1. ONLINE
        1. Tipping & Charity (Give and Receive)
        2. Common household items online (Ex: Overstock.com accepts Bitcoins)
        3. Gift cards- eGifter & Gyft
        4. Video Games- Only participating Companies
      2. OFFLINE
        1. Food- Use apps on your phone and download to find restaurants that accept Bitcoin
          1. Use the internet to search such restaurants that take Bitcoin, such as: www.bitcoinrestaurants.net
        2. Travel
          1. Expedia, Cheap Air, Ships & Travel, are some examples of Agencies that take Bitcoin.
        3. Here is an online resource of where you can spend your Bitcoin.www.spendbitcoin.com

    What is Mining (CryptoMining)?

    1. This is a process where transactions are verified and then added to a public ledger by anyone with the proper, specialized equipment to mine. The miner must solve difficult mathematical equations, or puzzles in order to verify a transaction and they may then add it to the Blockchain (Public Ledger). They are motivated to mine the public transactions, due to the fact they can earn newly released coins and fee reduction for their own transactions.

    What is the Blockchain?

    1. Blockchain is a public transaction ledger of past transactions that is decentralized. This means a single entity cannot take control of this ledger. It is consensus driven and can be made public and verified. Since a large number of computers are connected to the network, you are able to view the entire history of a transaction. This makes it very difficult for a hacker to compromise any transactions made in the blockchain.

    Is Bitcoin Secure?

    1. Bitcoin is considered to be more secure than many of the current Financial institutions that exist today. If you own Bitcoin, you have a large amount of Power over your money. You must follow proper security measures to protect your Bitcoin. While there have been reports of Bitcoin theft, it has mostly been due to negligence on the part of the owner, or improper security measures being used. Coinbase is one such Wallet that can provide the needed security to safekeep your money.

    What is BitCoin?

    1. “Bitcoin (₿)(https://en.wikipedia.org/wiki/Bitcoin) is a cryptocurrency, a form of electronic cash. It is a decentralized digital currency without a central bank or single administrator,[7] though some researchers point at a trend towards centralization.[9]:215, 219–222[10]:3 Bitcoins can be sent from user to user on the peer-to-peer bitcoin network directly, without the need for intermediaries, though intermediaries are widely used.[9]:220–222 Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin was invented by an unknown person or group of people using the name Satoshi Nakamoto[11] and released as open-source software in 2009.[12] Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies,[13] products, and services. Research produced by the University of Cambridge estimates that in 2017, there were 2.9 to 5.8 million unique users using a cryptocurrency wallet, most of them using bitcoin.[14](https://en.wikipedia.org/wiki/Bitcoin)

    What is Crypto trading?

    1. Crypto trading is a way to exchange cryptocurrencies, such as Bitcoin, and Etherium. You can buy and sell these cryptocurrencies, one for another.

    What is Cryptocurrency Exchange?

     
    1. Cryptocurrency exchange, Crypto exchange or digital currency exchange (DCE) is a businesses that allow customers to trade cryptocurrencies or digital currencies for other assets, such as conventional fiat money, or different digital currencies. They can be market makers that typically take the bid/ask spreads as transaction commissions for their services or simply charge fees as a matching platform. ( For a more detailed explanation please see: https://en.wikipedia.org/wiki/Cryptocurrency_exchange)
    2. Examples of the largest Cryptocurrency Exchanges:
      • Binance
      • Up Bit
      • Bittrex
      • GDAX
      • Kraken

    Is Cryptocurrency the same as stocks?

    1. No. Investing in stocks gives you shares/ investment in a specific company and not a currency. An investment in cryptocurrency however, is an investment in a currency that is independent of any company.
     

    What is Cryptocurrency?

    1. “A cryptocurrency (or crypto currency) is digital asset designed to work as a medium of exchange that uses strong cryptography to secure financial transactions, control the creation of additional units, and verify the transfer of assets.[1][2][3] Cryptocurrency is a kind of digital currency, virtual currency or alternative currency. Cryptocurrencies use decentralized control[4] as opposed to centralized electronic money and central banking systems.[5] The decentralized control of each cryptocurrency works through distributed ledger technology, typically a blockchain, that serves as a public financial transaction database.[6][7](https://en.wikipedia.org/wiki/Cryptocurrency)
    2. Here is a great reference as well to read up on What Cryptocurrency is: https://cryptocurrencyfacts.com/
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  • If we set Digie at a 3%profit and the market moves up 10%, does Digie Get out at 3% or take advantage of the 10%?

    1. DigieBot has a built in stop that trails the trade when the trade for example reaches 2% in profit. (When the price goes up, it drags the trailing stop-loss along with it). So, if the trade continues to go up, Digiebot could gain more than the 3% you set.
  • Can I purchase more than one license and use both?

    1. You can have more than one license, but you’ll need to run the 2nd license on a different exchange.

    Can I transfer my license to someone else?

    1. Yes. You would need to contact support@localhost/digiebot in order to make the transfer.