What is Automated Buy & Sell? How Do I Use It? | Kriptomat Help (2024)

Kriptomat’s Automated Trading feature lets you specify a price target and amount for buying or selling crypto. When the price hits the target, your transaction is executed immediately – even if you’re offline, asleep, or on holiday.

The feature is intended to help you meet your investment goals.

You can set price targets for selling crypto at a profit or establish a “wish list” of low prices for making purchases. An automatic sell order can limit losses in the event of a market downturn.

Just set an Auto Buy or Sell order and relax while we do the work. 😊

Pros of Automated buy/sell:

Note: we are showing the auto-buy flow, but the auto-sell flow is the same.

1. Log in to your Kriptomat account.

2. Click the "Buy & Sell" button in the header of the app and select the cryptocurrency that you wish to buy. The window in the picture below will pop up. The default currency is Bitcoin, but you can click on it to open the cryptocurrency search window. We are setting up an automatic purchase, so we stay on the "Buy" tab. (Click the "Sell" tab if you wish to set up a trigger for automatic selling.)

3. When you are ready to continue, open the dropdown menu and select "Buy at a set price."

4. Type the amount that you wish to spend (1,000 EUR in our example).

5. In the "Buy-at price" box, choose the value at which you wish to buy the selected cryptocurrency. You can also choose the percentage deviation from the current price.

Click the "Preview transaction" button when you are ready to continue.

6. Now you can review the details of the order. Click the "Confirm" button when you are ready to open this order.

7. A window will pop up informing you that the transaction is pending. Please note that such a transaction can be pending for days, weeks, or even months. It may not ever get executed if the chosen cryptocurrency never reaches your desired price. Here you can set up a Price Alert or simply click the "Close" button to close this window.

And that's it! You have successfully set up an auto-buy.

1. Locate the "Open orders" section on the right side of the web app. You can find all open orders in the "Wallets" section, and you can find crypto-specific orders on the individual page of a specific cryptocurrency. Click on an open order to continue. A new window will pop up.

2. Here you can see all the information about the open order. Click the "Cancel open order" button.

3. Click the "Confirm" button to cancel the open order.

And that is it! 😊

That is highly unlikely. However, if prices change so quickly that it is impossible to execute your purchase, the order will be canceled, your funds will remain in your account, and you will receive an email notification.

IMPORTANT NOTES:

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Do you still have any questions? Use the support chat to contact our support team or send us an email at [emailprotected]