Botcrypto claims to be the first web platform that allows you to create trading bots for crypto coins. You can easily trade ETH, BTC, LTC, and more with the bots. As per the vendor, the bots save time and help in exploiting new opportunities allowing you to gain an edge on the markets.
What is Botcrypto?
Botcrypto is a trading platform that provides users an opportunity to make bots and customize them. The bots can be used for smart investment using the dollar-cost averaging. Or, they can be used to trade with the help of over 20 technical indicators present.
Features of the Botcrypto platform
Some of the important features of the platform that make it competitive as per the vendor are:
- The platform allows you to create strategies using the visual editor feature. You need not have prior experience with coding to use the feature.
- An instant backtesting feature is present which allows you to test your strategies effectively. The backtests have more than 3 years of historical data.
- You can also test with the real-time simulation tests that the service provides.
- With the automation feature, you can launch the best strategies without any stress and ensure profitable trading.
- The community allows you to access plenty of tested and proven strategies or share your strategies.
How does the Botcrypto bot operate?
The crypto bot uses more than 20 indicators for making the best entries and exits. Trend, momentum, sentiment, strength, etc. are some of the types of indicators it uses. The Bollinger bands, Vortex, StockRSI, exponential moving averages, and more are available to use by the members.
To start trading with the bot, here are the steps you need to follow:
Step 1: Account creation
Visit the official site and create an account using the Sign-up option.
Step 2: Create or choose a strategy
You can use the visual editor to create a strategy or choose from the existing methods.
Step 3: Deploy the bot
You can directly start trading with the bot after configuring it as per your requirements or backtest it before using it.
Is it easy to use Botcrypto?
The user interface is easy to navigate. New users will find the various features easy to understand and use.
Botcrypto fees, commissions, limits, and payment options
A free plan is present that does not include a bot on the market. An unlimited number of strategies, imported strategies, backtesting, real-time simulations, and notifications are provided with the free bot.
The paid packages include the Bronze (€9.99/month), Silver (€29.99/month), and Gold (€59.99/month) packages. The plans differ mainly in the number of bots and the incoming webhooks.
No withdrawal rights are present for the bot. Your funds are safe in the exchange account.
How much should you deposit to start trading with Botcrypto?
The platform does not stipulate a specific deposit amount for trading. All deposits are done as per the exchange requirements only.
Partnered exchanges and brokers
Binance and Kraken are the supported exchanges of this service.
Is it beginner-friendly?
New users will find the free plan, the user-friendly navigation, and the community feature very advantageous.
Is it a profitable system?
While the vendor claims that the bots are profitable there is no verified proof of performance provided which makes it difficult to assess the profitability.
Security & regulation
All funds of users are kept safely on the exchange they are using. The bot does not have withdrawal permission hence it cannot access the funds. There are no other details related to the security and regulation of the platform.
We could not find info on the company, its founding year, team members, etc. The vendor provides a location address indicating the company is based in Strasbourg, France. For support, an email address, a chat feature, and social media links to Discord, Facebook, Twitter, and YouTube are present.
Should you trade with Botcrypto?
The platform offers a variety of strategies to choose from along with access to the community ensuring new traders can get better results. But there are a few hitches like the lack of vendor transparency and the absence of a proven track record that you need to consider.