Frequently Asked Questions

What is Centrabit Trader?

A full-featured virtual currency trading client, with API connections to several exchanges.

How do I use Centrabit Trader?

  1. Register, download and install via the Register button.

  2. After installing, check the list under the Exchanges menu. Paste the API key. You can install keys for all listed exchanges.

  3. Check the balance pane and get familiar with the trading buttons.

  4. Download all sample scripts from this website, see scripts. In the app, go to Centrabit trader/Settings/Scripts. There you should enter the path to the local library where keep the downloaded scripts.

  5. Get familiar with the sample scripts. Start testing and innovating!

  6. Once you found a formula that is profitable in backtest, start live trading with small amounts. After 5-10 transactions, do a backtest over that time to see that backtest give roughly the same entries and exits. When you see your strategy working consistently for you, increase the stakes gradually. If something doesn’t work for you, contact support.

Is Centrabit Trader suitable for an active daytrader, scalper, arbitrageur?

Yes.

  • Daytraders like our flexible workspace. By selecting the components you want, you will see only the relevant info. You can arrange your windows over one or more screens.
  • Scalpers like our high resolution chart, which shows all transactions and paints the spread.
  • Amateur algo traders like the way they can modify our versions of popular trading scripts without learning the language.
  • Arbitrageurs can simplify their routines with one single interface to several exchanges and a script language with capability for arbitrage.
  • Money-managers like the rights management profiles. A bookkeeper, for example, doesn’t need to place orders. With their own profiles, you hand out the appropriate rights.
I am looking for an exchange to buy bitcoin, save it and pay for things anonymously. Is Centrabit Trader the best for me?

No. Centrabit Trader is only a client for strategically changing between assets that you already have on cryptocurrency exchanges. It cannot withdraw crypto from an exchange even if you allow that in settings on the exchange.

Advice 1) After buying crypto and when you are finished trading with it, do not use a bitcoin exchange as your piggy bank. Use a non-custodial, open-source wallet like Electrum. Save your “wallet words” in several places.

Advice 2) If you wish to avoid the powerful among us knowing your savings balances, don't use exchanges that require identification.

Advice 3) Be aware of how non-privacy cryptocurrencies like bitcoin work, so your payment pattern doesn't give away who you are.