Botcrypto was first launched in 2017 in France to provide trading facilities for all via a user-friendly interface. Traders can create and modify their robots using different built-in strategies and indicators on the platform. Let’s take an analytical approach to ponder the pros and cons of the product while testing its capabilities from a good investment point of view.
How does this crypto bot work?
Botcrypto is an automated trading platform that offers prebuilt strategies and comes with more than 20 indicators. The algorithms can be used in coding a bot to work on the customized settings and the specific parameters defined by the trader’s requirements. The crypto algorithm can then be tested on the historical record for up to three years to understand its important metrics.
Getting started with Botcrypto
Users can get started by signing up to the Botcrypto platform.
- Enter your Email address
- Insert a strong password for your new account
- Fill in a captcha test
- Click “Sign Up”
- Connect your exchange with the bot by using the API keys
After registering, traders can access the strategies, build their first customized bot, and backtest it.
Company information
The platform was created by a company based in France in 2017. There are three developer names mentioned in the about section: Constantin De La Roche, Theo Poizat, and Mehdi Boussaad. The social media handles of the firm and vendors are also available on the website. The platform does have an account on Trustpilot, but unfortunately, no client testimonies are present.
Features of Botcrypto
Botcrypto comes with the following mentioned features:
24/7 automated trading
The purpose of the system is to disengage the complexity of trading by implementing various strategies and indicators to perform trades.
User-friendly interface
The platform uses a visual simulator to customize, modify, and create trading bots, making it a super easy process.
No coding skills
Beginners and early bloomers can use this platform to get familiar with the strategies and indicators before going in for the big fish.
Strategies of Botcrypto
Botcrypto comes with 60 free strategies and 20 indicators that can be used to make a trading robot. The users can also access the game plans posted by other traders and share their own with the community. The built-in indicators can be combined with the strategies such as RSI, MACD, Ichimoku clouds, Bollinger bands, (exponential) moving averages, Vortex, Fear and Greed Index, etc., to enhance the overall performance of the bot.
Pricing, fees, and commissions
Four different pricing packages are available on the official website of Botcrypto, which are mentioned as:
- Discover Plan
A free package with zero bots on the market, one incoming webhook, and up to 1440 backtests. All the paid features such as API access, unlimited strategies, simulations, notifications on different platforms, and up to 1440 backtests are available.
- Bronze Plan
It comes with a starting price of €12.49 for a monthly and €9.99 for a yearly package. It also includes access to two robots and up to 5760 backtests.
- Silver Plan
€37.49 and €29.99 for monthly and yearly packages are asked by the vendor in exchange for access to five bots and up to 7920 backtests.
- Gold Plan
For €74.99 for a monthly subscription and €59.99 for a yearly subscription, access is granted for 20 bots and up to 10080 backtests.
A customized plan can also be arranged according to the need of traders, which can be availed by contacting the vendor directly through customer care carriers. The vendor doesn’t claim any money back or refund policy.
Deposit requirements
The website of Botcrypto doesn’t disclose any details about the minimum deposit requirement for the bots to trade on crypto exchanges.
What exchanges does Botcrypto support?
Botcrypto supports two exchanges at the moment: Binance and Kraken, which have 500 and 97 cryptocurrencies supported, respectively.
What languages does Botcrypto support in their product?
The developer offers the website interface in two languages: French and English.
Can you really make money with this bot?
Users can use this platform to create their customized bot, which can then be backtested on historical records for up to three years to analyze the profitability of the robot. The robot can generate stable profits in real market scenarios with proper configuration, correct indicators, and adequate strategy. Traders may have to use a manual approach to restrict the drawdown in some cases.
Advantages of Botcrypto
Following are the pros of Botcrypto, which are mentioned below:
- The interface is user-friendly
- Multiple and affordable purchase packages
- Training program to educate traders
- No installation required
- It comes with features like backtesting and real-time simulation
Disadvantages of Botcrypto
Following are the cons of Botcrypto, which are mentioned below:
- The platform is compatible with only a few crypto exchanges (Binance and Kraken)
- Botcrypto does come with a limited number of strategies
- No client feedbacks are available on the trusted third-party websites
- The vendor fails to provide a refund policy
- There is no mobile application
Customer support
The vendor claims to provide customer support for its users, who can be reached by using the live chat and an email given on the website. The company has various social media accounts that can be used to follow the latest updates about the system and keep up with the developers.
Who is the Botcrypto suitable for?
Botcrypto doesn’t require prior knowledge of software languages and coding to customize bots, making it the perfect solution for novice traders. However, the system doesn’t come with a big pool of strategies that can limit professional traders in creating complex algorithms.
Botcrypto summary: is it worth going for it?
Botcrypto shows its compatibility with new traders while offering features its user-friendly interface, educational materials for better understandability of trading, and various indicators. The lack of user testimonies and refund policy may raise some credibility concerns over the profitability of the developed robots.
- Features: 6/10
- Ease of Use: 6/10
- Fees: 5/10
- Support: 5/10
- Price: 6/10
- Payment methods: 6/10
