Risk warning: LazyEye is not a regulated financial entity. Crypto trading involves substantial risk — you may lose part or all of your capital. Past results do not guarantee future performance.

Let’s Start With The Basics

Hi and welcome to LazyEye! If you are new to trading or using bots this guide will give you a quick intro. If you are not, you can skip this one and go to the next guide. Always remember to DYOR (Do Your Own Research).

What is Crypto?

Crypto is short for cryptocurrency — digital money registered on a digital ledger called the blockchain. Where normal money like dollars or euros are physically minted, cryptocurrency is created through mining (PoW) or staking (PoS). We call one piece of crypto a "token" or "coin". You can freely transfer tokens to other people, store them in a cold wallet or keep them on a hot wallet on a centralized exchange.

What is DeFi?

DeFi (Decentralized Finance) eliminates the need for centralized organisations like banks. You have total control over your funds. DeFi works by utilizing smart contracts that operate autonomously. The LazyEye bot works with the Binance Smart Chain (BSC), a decentralized network. To use this network you’ll need a crypto wallet.

What is a Crypto Wallet?

A cryptocurrency wallet is a digital wallet needed to store and use cryptocurrency. For our bot we need a wallet that can connect to the BSC. We use MetaMask — a browser-based wallet which allows users to connect to different EVM-compatible DeFi networks.

How Does Trading Work?

Trading means buying and selling assets to profit from price changes. The LazyEye bot opens Long positions — meaning it buys a token and sells it later at a higher price. The bot handles all of this fully automatically: analyzing the market, opening and closing positions, and reinvesting profits. You don’t need to make any trading decisions yourself.

What is Futures Trading?

Futures trading lets you profit from price movements of a cryptocurrency without actually buying and holding the coin itself. You open a “position” that increases in value when the price goes up (a “long”). When the price has risen enough, the position is closed and you keep the profit.

AsterDex uses “perpetual futures” — futures contracts without an expiry date. Unlike traditional futures that expire on a set date, perpetuals can be held indefinitely. The bot opens and closes these positions automatically based on its strategy.

How the Bot Uses This

  • The bot only opens Long positions — it profits when the price goes up.
  • It uses 1x leverage — no borrowed money, no extra risk beyond your deposited amount.
  • A “trailing stop” automatically locks in profit and closes the trade if the price starts dropping after a gain.
  • The bot picks which coins to trade based on volume, momentum, and market conditions.
  • You don’t need to understand all this — the bot handles everything automatically.

What is Leverage?

Leverage means opening a position larger than your actual balance by borrowing funds. For example, with 2x leverage and $500, you control a $1,000 position. This amplifies both profits and losses.

The LazyEye bot trades at 1x — meaning it does not use leverage at all. Your position size always matches your actual balance. We mention leverage here for educational purposes only, since you may encounter the term on AsterDex.

What is AsterDex?

AsterDex is a decentralized exchange (DEX) on the Binance Smart Chain. It offers perpetual futures contracts — positions without an expiry date. The LazyEye bot runs exclusively on AsterDex Perpetuals.

Positions Can Get Stuck

One caveat of our strategy: sometimes the market moves against an open position and the bot has to wait for the price to recover before it can close the trade at a profit. During this time, the bot holds the position and does not open new ones. This can last days or even weeks.

This is why there is a monthly flat fee of €5 — it covers the ongoing server and infrastructure costs even during periods when the bot is waiting and no profit is being realized.

Disclaimer: LazyEye is not a regulated entity. Cryptocurrency bot trading involves substantial risks, and past performance is not indicative of future results. Only engage in bot trading if you possess sufficient knowledge or seek guidance from a qualified financial advisor. By using LazyEye’s services, you acknowledge and accept the inherent risks involved in cryptocurrency trading.

You’ve made it through the basics! Always remember to DYOR and only invest money that you can comfortably lose.

Next: Connect Your Bot Back to Knowledge Base