On chain trading guide step by step tutorial

Full guide Trading on chain Base

on chain trading how does it work on base
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On chain trading on Base we already gave you the info where to watch out for and why you would need to use a trading bot. Here we will give you a full guide on how to start trading on the L2 Ethereum network from Coinbase called BASE.

We advice you to also read our article about on chain trading and especially the part how to spot scams on SOL.

 

Step by step guide to trade on chain with BASE

Create a crypto wallet that supports Base chain a Layer 2 Etherium network

1. Create a Wallet

The first step to trade on chain with Base would be to create a crypto wallet that supports BASE. If you haven’t traded before on chain you need to decide which wallet you want to use. The most popular wallets are currently MetaMask and CoinBase.

Both wallets are easy to set up and offer a mobile app so you have access to your wallet whenever you need it. When you download the app or the browser extension don’t forget to back up your private key!

Because unlike all other platforms you might sign up for, your wallet is not connected to any email address. So when you lose your phone or it get’s damaged you will lose your funds if you don’t have the private key.

2. Create a Telegram Account

Majority of all Crypto projects start in Telegram, if you want to be early Telegram is the place to be! You can copy and paste a new Contract address (CA) with just 2 clicks into your trading bot. If you turn on auto buy (which most bots offer) you have already bought the token when you pasted the CA in the bot.

There is no possible way to trade faster, unless your bot has a scraper function or a sniper function. Not all Telegram trading bots offer these functions.

 

 

Create a telegram account for on chain trading with BASE
Base Tradings to trade cbETH on BASE chain

3. Find a Trading Bot for BASE

Now that you have set up Telegram we can find some Bots to add to your Telegram account. We have the best and most trusted telegram bots on this website and we will continue to add more trading bots when we find them.

If you know what kind of options you are looking for check out our comparison table, it will give you a good overview of what Bot offers which function. Incase you have no clue yet on what you want browse through our Trading Bots menu.

4. Safety first!

When we say safety first we mean: Export your private Key from your trading bot to the wallet which you created in step one. Some bots also allow you to import your private key incase you chose this option you can forget this step.

The reason we strongly recommend you to export your private key to your main wallet is because Telegram could ban your account if other members complain about your actions. If you haven’t exported your Private key and do get banned, you will lose your wallet and will never be able to recover it since the Trading Bot (which is also your wallet) is connected to your Telegram account.

Private key BASE wallet export it for safety
Purchase cbETH to start trading with your BASE trading bot

5. Fund Your Wallet

Now that you followed all previous steps you can start trading, but before we do you would need to add some funds to your wallet. Since we are trading on Base it would be wise to add Ethereum to your wallet from step one.

To bridge your ETH to cbETH:
https://bridge.base.org/deposit 

MetaMask offers an option to buy Ethereum directly from your wallet. If you can’t deposit like that because it’s restricted in your region, you can fund your wallet through a Central Exchange (CEX).

To connect your wallet to the BASE Mainnet (not needed on CoinBase Wallet):
https://docs.base.org/docs/using-base/  

Since we would be trading with a trading bot you would need to send your cbETH to the wallet address of the trading bot. Incase you have chosen to import your wallet to the trading bot your funds will be ready in the bot after completing your purchase or Bridge.

6. Ready to go!

If you followed all steps as described above you are now ready to start trading on chain with BASE! But be aware for scammers and rugs because when money is involved people can’t be trusted!

There are a few ways to find tokens:

  • Dextools live pairs (risky)
  • Call channels on Telegram
  • Influencers on X (please don’t trust all of them)
  • Live pair channels on Telegram (risky)

Don’t buy more than you can afford to lose and on chain trading offers a lot of gains but it can drop as fast as it pumps.

Trading BASE on chain with a telegram trading bot
Maestro sniper bot for BASE

1. Maestro for BASE

Meastro Trading bot can be used for many chains and is already used by a lot of people. Maestro for BASE will is easy to set up and will help you to snipe or scrape any new launch on BASE.

Banana gun for base chain

2. Banana Gun for BASE

Banana Gun is very easy to set up and thanks to the tutoriols they provide. Banana Gun supports multiple chains so if you are interested to hop from Base to ETH its an easy switch on the same bot.

Magnum trading bot for Base chain

3. Magnum for BASE

Magnum can be used as your trading bot on multiple chains. This bot also has an app and development is still an ongoing process. Providing faster trading and more stability.

sigma telegram trading bot for base

4. Sigma for BASE

Sigma focuses on simplicity when they made their Telegram bot, so most of the guide is self-explanatory. Sigma can be used for multiple chains and networks and is fully compatible with Base.