The most consistent experience happens that way now it can pay trade fees out of the currency pair, that’s being traded. So let’s talk about what this means for those of you who are new to crypto and new to trading, maybe every time that a trade is initiated, meaning a position is bought and its trade is closed, meaning we’re selling that position. There are trade fees that get paid to the exchange, that’s how binance makes money so they’re small small fees, but they make a lot of them, because there are a lot of trades happening. Of course, when you’re running an algorithmic software like easybot, that’s doing trades across tens of thousands, hundreds of thousands of bots uh, there are a lot of these that finance collects now.
Binance would also love to promote their own token. Their own coin is called bmb, and so they give you the user a discount when you pay trade fees with their coin and that’s part of how they’ve grown uh bmb to be the number three largest coin by market cap in the last couple of years. So there’s a 25 discount you get to save on fees, so easy buy this program to work most stable when you have bnb in your wallet and you’re, using it to pay fees on your trades.
So the couple of things that you need to know is number one obviously have bnb in your wallet, but you need to have it in your wallet before you start to trade. So we’ve come across situations where uh we’ve got users that have started trades and then they remembered or they were informed. You need to have b and b and so they’ve gone in and added it after the fact. Well, if the trade is started and there’s no bmv in the trade, then easy bots, looking at that trade and looking to pull the fees out of the currency pair, so, for example, uh we you’ve bought.
You know 01 of of xrp as an example and easybot needs to pay a fee for that buy, and it comes out of that pier so instead of 01. Excuse me instead of 01 uh xrp, you now have 0099 xrp, because the trade fee is 01 percent. With uh without bnb – and it’s 00575 with it, so now you instead of the 01 that easybot bought on your behalf in this trade. There’s point nine nine of this xrp when it goes to sell easybots looking to sell 01 xrp.
But it’s not there anymore. It’s only 099 and that’s what causes the error so right now again, if you start a trade and there’s no bnb, it’s going to want to close the trade without b b as the as the uh as the way to pay fees. The short story here is make sure you have it in you. You’Ve got bnb set up before you start to trade, and there is also a switch that you you’re going to want to make sure it is activated, and that is to actually pay b b fees.
Excuse me to pay trade fees using b b to get there. You go to your dashboard, it’s the person icon and then you’re going to go down to your dashboard and then scroll down a little bit on your dashboard and from there you’re going to click the button to turn on your fees. In fact, let me, while we’re talking about it, i think it’s important enough that i grab that link and let’s show it to you real, quick, david um. Let me show them my back office too, on the trading, because you went over something and i think it’d be good for them to see it visually on how to reactivate uh the bot to get that bot work.
Okay, so let me uh hang on. Let me let me finish here and then we’ll jump in okay, great i’ll, get that ready all right. So here’s a link, it’s we’ll drop it in the chat for you, guys, uh how to use bnb to pay fees and earn a 25 discount. This walks you, through the steps that you need to take in order to make sure that it’s set up so scroll down here, just a little bit and the profile icon that i mentioned to you a moment ago when you’re in binance.
It’s up here now. Of course, this is the desktop view if you’re on mobile, that person, icon or profile icon is in the top left corner, and so when you hit that profile icon on mobile, if i’m not mistaken, there’s a yellow, hyperlink off to the right a little bit, not Too far down and you’re going to click right there it’ll take you right to where we’re going to go next, once you click on a dashboard here, scroll down right below this area right here and you’re, going to see something that says your trading fee level, click On trading fees and it’ll, take you here and you’re going to want to make sure a spot trading fee looks like this using bnb deduction. You want to make sure that’s turned on.
So those are your steps before you get started trading. If you do that, then all good there it’ll avoid you seeing some of those error messages, error messages that you might have seen with insufficient funds. So those are those are two of the issues as it pertains to what may cause easybot to stop trading.
One of them is something totally within your control. That’s pertaining to b b, the other one right now we’re getting dialed in and we’ll get a fix in place for that. So coach is going to show you he’s going to walk you through how, if you have a bot that has stopped and it’s been trading and you see it go from active to inactive uh coach is going to show you.
That’s super super simple, very easy. Just to get it started trading again and then we’ll jump back in and we’ve got a couple more things to talk about. Okay, guys, um trust me when i tell you this, this process is so much easier than what we experienced in the past.
There were glitches in that program as well, but when it would go off, we wouldn’t even know it, because we couldn’t tell by looking we’d, have to actually go in to our our tokens and then look through to find a certain activation button. We had to look for several different things. Sometimes we had to go through all the parameters and reset them with um this. This is because of the migration of the software that we’re seeing a few of these issues come in, but it’s a super easy fix.
Now, if you go into your bots you’re gon na see it’s gon na show zeros right now. This is gon na be changed. It’s not gon na show the 24 hour um past uh historical data for each coin, uh that this is um the 24hour uh historical data that the coin has done, whether it’s gone up or down in the last 24 hours.
I don’t know if you understand that or not it’s okay, you don’t have to you. Don’T have to be a trader to understand this. What is going to go here, though, and i talked to muhammad about this today – we could bring him out and if he is on, the call is the percentage of profit that you’ve made since uh you, you started using the bot, and you can see here. People say well: what kind of percentage could i get a day? Well, it’s! This is real trading.
This isn’t something fake guys that they’re promising you 15 19 daily. You could see uh xrp, which i think is going to blow up, isn’t isn’t doing as much as these other uh coins. But if you notice here, you see where it says where these red x’s are. That means the bot has uh, moved you to an inactive position, and i’m going to show you it’s real simple.
All you got to do is click here. Click right on the um on the um, the coin. At the bottom, i’m going to show you a couple times.
I i did this uh and um. It’s doing the same thing on mine, as is yours. It goes to inactive.
We don’t know why we’re going to figure this out. This is a programming issue or a uh exchange issue. We’Ll figure it out, but all you got to do is go back and hit active and then you come in and um.
This will go away as well. That’s uh! It’s something that um the programmers will get that fixed right away, that little uh popup window. That came up, but you can see it’s green again. It’s that easy! So we’re gon na go to xmr now and same thing.
You’re gon na go over to this uh settings uh gear right here you click on the settings gear and you see its status is in active and we’re going to go ahead and save that and that’s how easy it is guys. Now, if i could do it, anybody can do it. Okay, i’m sometimes uh computer challenged, let’s say and but um it’s really easy.
How we set this up for you guys, okay, david, come on back in yeah. So can i say yeah one more thing: uh guys! Um peter and breezy have been working nonstop in the support calls, and i just wanted to thank them personally for their for their efforts and how they’re serving the community. If you’re, a national director uh part of your responsibility is to do one support call a week, and so i will be reaching out to you this week, because we’re gon na um lift up the arms of and support peter and breezy.
So i will be reaching out to you if you’re national, director and we’ll get a uh live support system going, hopefully we’ll have it going eight to ten hours a day without breezy and peter being on all those calls. Okay, so uh david come on back in all right, um got it. Yes, the call is being recorded uh. There is one other thing that i wanted to jump into that uh.
I think i saw a pass through in the chat, and that might be that your bot has never started trading, and so, if that’s the case generally speaking, there is one thing that you missed in the setup, and i want to show it to you. Uh, all right, so what you might have missed is this important step when you’re connecting your api to binance. There is a button here right now. It says save it will say.
I believe it says edit restrictions, uh you’re, going to want to click on that, and then you want to make sure you come down here and click on enable spot and margin trading all right. So if you do not enable spot and margin trading, it’s not going to be able to trade for you. The api will not be able to execute trades.
So if you’ve set up easybot, you think it’s all it’s all connected and it’s still not taking initial trade positions getting started going more than likely. You missed this step so make sure you go back now. Here’s the thing you won’t be able to go back in and enable it. I don’t believe i could be wrong.
Somebody can correct me here, but you can always always always just create a new api worst case scenario. You can always delete an api, create a new one. Add that new api, if you’ve done it once you can do it again, just add a new api and connect it to easybot and just make sure that that one has you enabled so thanks. So you