11/10/2021
How Does RoyalQ Work?
In this section, I will go through the basic information you need to know about the RoyalQ bot.
This is how RoyalQ works:
1. Activate the bot
2. Bind the bot to an exchange’s API
3. Fund your exchange’s account
4. Manage trade settings
5. Trade and make your profit
Find brief details on them below.
1. Activate The Bot
Firstly, RoyalQ has an annual subscription fee known as your “Activation Fee”.
This implies that, in the same way, that you subscribe to your “GoTV” in Nigeria, your RoyalQ bot requires a subscription to function.
The activation fee was initially set at $100, however, on September 9, 2021, it was raised to $120.
Now, remember, this is a one-time subscription that will last for a year.
Another thing is that this payment is made in USDT on the Tron network (TRC-20).
2. Bind The Bot To An Exchange’s API
Secondly, before an external crypto trading bot like RoyalQ can trade for you, you’ll need to connect it to your exchange account via an API.
RoyalQ only supports 2 leading crypto exchanges API as of September 2021.
See the exchanges below.
> Binance
https://accounts.binance.com/en/register?ref=B1NHE3F1
> Huobi
This simply means that RoyalQ can only trade on your behalf if you have an account with any of these two exchanges.
I embedded a link on them so you can create an account with them right away if you haven’t already.
3. Fund your Exchange’s Wallet
Before you start up trading, you will have some USDT in your exchange’s account.
You can do that by transferring funds from an external wallet to your exchange wallet.
You can also buy USDT via P2P on both exchanges.
4. Manage Trade Settings
On the RoyalQ bot, you can adjust trade settings to suit how you want the bot to trade for you.
For example, you can choose to trade once (One Shot) or trade repeatedly (Cycle).
Not only that, you can also set the amount you want to trade with, your profit percentage, etc.
Note that RoyalQ does not have access to your trading funds.
It simply follows a set of instructions which you have given it to conduct trades for you.
Also, trading takes place only on your exchange account, not on the RoyalQ platform.
To put it another way, RoyalQ has no control over your trading money and is unable to withdraw your funds from your exchange account.
5. Trade And Make Your Profit
When you can trade and make your profit, you can choose to withdraw it or put it back into the trade.
Note that the bot charges you a 20% fuel fee on every profit you make.
So this is how the RoyalQ bot works.
As mentioned earlier, I just gave out the basics. You will get more details on the bot poco-a-poco as we progress in the series.
Next, I’ll guide you through how to download and create a RoyalQ account.
