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Which quote currency should I use?
Which quote currency should I use?

Choose the right quote currency for your trading bot to maximize profit and manage risks effectively.

Pete Darby avatar
Written by Pete Darby
Updated over a week ago

A quote currency is used by your trading bot to buy other cryptocurrencies and to sell those back for quote your currency. Make sure that you deposit funds corresponding to the quote currency, otherwise, your bot won’t have funds to buy currencies with.

Some crypto exchanges offer many different quote currencies, while others only offer 1. We recommend users who start with automated trading to use stable currencies, such as USD, USDT, EUR, and other stable coins as it simplifies tracking how much profit you actually made.

Experienced users could consider using BTC as quote currency. Since BTC is a volatile currency, it could result in quick wins or losses. When BTC is rising in price, the value of other currencies go down in price (resulting in losses). When BTC dips, the value of other currencies could go up in BTC value (resulting in profits).

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