In this Cryptotrader review, you’ll learn what Cryptotrader is, how to use the trading bots, and more. Are you looking for an easier and more efficient way of trading your cryptocurrencies? Cryptotrader may be the automated bot youâve been waiting for. Weâre glad that automated crypto trading is gaining popularity as crypto buffs search for better strategies for earning more profits from crypto markets.
The use of auto trading platforms is equally rising with the increasing number of traders. One such platform is Cryptotrader. Itâs one impeccable platform thatâs been making the headlines in crypto trading markets. Weâre sure youâve heard about it and wondering if itâs legit. Can this trading bot really let you spend quality time doing other stuff as it makes more profits for you?
Well, so many other investors have shown interest in learning more about Cryptotrader, which is why we had to do this review. In this Cryptotrader review, weâll have a look at it in-depth â what it does, how it works, its pricing, if itâs legit, and more.
Cryptotrader Review: What is Cryptotrader?
Cryptotrader is an automated cryptocurrency trading platform built to perform crypto trading on behalf of cryptocurrency and Bitcoin traders. This platform is run by intelligent bots that crawl cryptocurrency market databases to identify trends and patterns that can potentially benefit traders. The Cryptotrader project is owned and operated by a Netherlands-based blockchain firm called Blockchain Investments & Co.
The very essence of trading cryptocurrencies is to or other cryptocurrencies when prices are lower, then sell them to gain a profit when the price rises. The process is repetitive, even though it requires some expertise in monitoring market trends. Cryptotrader uses algorithms that automate the process by identifying the best opportunities in the market.
These intelligent robots monitor the critical signals in the crypto market to identify opportunities. The platform is built on the idea of earning passive income, which is why it has gained lots of popularity.
We loved Cryptotrader because it lets traders choose and integrate various cryptocurrency exchanges theyâd like to trade with. Â
Cryptotrader Review: Overview of Cryptotrader
In this Cryptotrader review, we’ll cover an overview what how exactly Cryptotrader works. Cryptotrader runs on the cloud, designed for Bitcoin traders, but can also be used for all other cryptocurrencies. When you visit their website, the interface is very simple. But donât be fooled by this. After creating your account and logging in, youâll see plenty of advanced features the site has for your use.
We loved the fact that no software installation is required as everything runs on the cloud. The trade bots run on a scalable VPS for seven days a week and 24 hours a day.
The platform has several tools that will be useful to budding traders. For example, there are options to try operating in a risk-free demo account in preparation to live trade activities.
There are 13 cryptocurrency exchanges supported by Cryptotrader, including Binance, Huobi, and Coinbase. These exchanges are flexible in that traders can use paid plans most appropriate to their needs and trading objectives.
Cryptotrader Review: What Essential Features Does Cryptotrader Offer?
Availability
Cryptotrader runs as a cloud-based solution with bots that are automated for trade. The software is based on VPS, and it doesnât require any software installation before you start trading.
Demo Trading Account
We loved the idea of experiencing live trading on a demo account and even conducted a back-test of given trading strategies before employing them on an actual trade.
Youâll get to choose from strategic templates like EMA crossover, multi-pair trading, and basic, after which youâll test to see how your trade would have worked out in different conditions.
Integration of Numerous Crypto Exchanges
At the moment, Cryptotrader is highly compatible with 13 other leading exchanges. They include Quione, Kraken, Poloniex, Coinbase, CEX.io, Bittrex, Bitstamp, Bitfinex, and Binance.
Superior Technology
Cryptotrader runs on the most advanced software technologies, making it always ahead of the crypto market by an acute time leap of 0.01 seconds. This feature makes it the most consistent automated crypto trading app.
Ability to Create Your Trading Bots
Different traders have different strategies to which they conduct successful trades. Cryptotrader understands this best, which is why it allows investors to create their own trading bots that best suit their needs.
The app allows developers to create or modify algorithms to match their trading styles and preferences through API integration. This is possible as Cryptotrader executes trade scripts that have been coded in CoffeeScript to allow the implementation of complex data analysis and storage algorithms.
Marketplace Integration
Cryptotrader contains a market for strategies that allow traders to buy and sell strategies made by veteran traders and professional cryptocurrency experts.
Customer Support
Cryptotrader has also intensified its customer support by offering quick and instant responses to queries. Their support team is kind and understanding, always ready to assist traders with their requests. Any user with an issue can reach out to the team by filling out a form under the âContact Usâ section available on their homepage. Thereâs also an active Twitter account for quick responses. Furthermore, members can also use instant emails, discussion forums, and SMS notifications for support.
Cryptotrader Review: Signup Process
Joining Cryptotrader is straightforward. By clicking the âSignupâ button on the homepage, youâll be guided on the subsequent steps until you verify your account. After successful signup, you can upgrade your account to a subscription plan suitable for you and start using live trade.
If you feel unsure about live trading, their demo trading account will give you a live trading environment and fake cryptocurrencies for practice.
You can also opt to rent, create, or purchase a strategy and start trading with it right away. Cryptotrader also offers a list of exchanges with different supported trading pairs to suit your preferences.
Cryptotrader Review: Selection and Testing of a Trading Strategy
The market section allows traders to select a strategy based on its popularity rating and cost. Alternatively, if youâve got technical skills in programming, you can develop your own strategy, starting with an open-source strategy code available in the strategy market.
To back-test a strategy to view its historical performance, you have to open the back-test tool then type or paste the code into the editor. If you need to configure the back-test settings, do it on a form at the top part of the site.
After doing this, click on the back-test button, and once the simulation is complete, you will get a log with trades that have ever been conducted through an algorithm.
Cryptotrader also handles security well. You can create an API, secret key, and word for your account. Just click the run button, then type or paste the API and secret key in the form for configuration. After this, click on âStart.â Once you have connected to the exchange, a new bot will appear, and itâs the one that will log all your trading activities.
Cryptotrader Review: Pricing Plans
There are five pricing plans with various features that traders can choose according to their needs. Cryptotrader has made the plan payment much simpler by accepting Bitcoin (BTC) payments. The plan prices vary from 0.0042 BTC to 0.0653 BTC a month.
Traders can also pay their plan subscriptions in Litecoin. Irrespective of the plan that a person goes for, back-testing abilities and email alerts come with each plan.
Basic Plan
- It starts from 0.0042 BTC per month
- It comes with one live bot for trading
- Its trading equity limit is $1,000
Regular Plan
- It starts from 0.0059 BTC per month
- It comes with three live bots for trade
- It has an account equity limit of $5,000 for trading
Pro Plan
- It starts from 0.011 BTC per month
- It comes with five live bots for trading
- It has an account equity limit of $20,000 for trading
VIP Plan
- It starts from 0.0209 BTC per month
- It comes with ten live bots for trading
- Its trading equity is unlimited
- Gets higher priority on support
- It has short positions
Premium
- It starts from 0.0522 BTC per month
- It comes with 25 live bots for trading
- Its account equity is unlimited
- Higher priority on support
- It has short positions
Also, note that there are other free trading strategies while you can rent some. Selection of premium strategies can be made with the aid of exchange support and a renting price which comes with a detailed set of instructions for traders. These strategies also have user ratings and costs shown for traders to choose what they feel confident with. Typically, strategies with higher ratings cost more and will deliver better results.
How User-Friendly is Cryptotrader?
Cryptotrader is built with an easy-to-interpret interface that crypto trading newbies will find friendlier. We liked the fact that there is no software download and installation needed. At the same time, you wonât need additional plug-ins to start trading. The website is enough since itâs entirely an online-based platform running on the VPS cloud.
The community that uses this platform has also created enough support material that provides instructions and directions on setting up your account and getting API keys using preferred exchanges.
It has been made easy for new users to get tips on how to acquire a strategy that is appropriate for trade goals, what they should do when it comes to back-testing, and what they can expect. Furthermore, after signing up, youâll have access to detailed explanations and discussion forums where people share their experiences and other valuable tactics to execute successful trading strategies.
This community forum provides a ground upon which new entrants can start learning how to create their trade strategies. Similarly, these new entrants can also buy trade strategies from the market section. Once a new user upgrades to a paid option, they will get trading bots whose value increases with a hike in BTC cost required for an upgrade.
For those interested in creating their trade strategies, in-depth knowledge of programming skills is required. Luckily, Cryptotrader has a Developer University where techy traders can learn how the APIs operate and how to create them from the API documentation.
Is Cryptotrader a Scam?
Cryptotrader is currently being used by a large community of traders, among the many reasons justifying that itâs a legit auto trading platform.
When conducting our review and tests on the platform, we analyzed it and discovered that its operations, functions, and algorithms deliver high success rates compared to most other auto trading platforms.
The fact that bots manage trading is also an assurance of tradersâ security. Decisions are made entirely by bots that traders themselves have created or those provided by the platform. All possible security openings have been patched to ensure traders are protected at all costs. Cryptotrader is utterly genuine with the aim of automating crypto trading so traders can earn more income passively.
How Secure is Cryptotrader?
The automation of trade through APIs means that Cryptotrader cannot directly access and modify tradersâ balances. Apart from this, the users are not required to do money transfers to the platform to start trading. Instead, it works through API integration, allowing trades to occur on the supported exchanges.
The users are allowed to create their API keys and link them to the trade bots. The API key grants restricted access to the tradersâ accounts. The bots also lack the right to withdraw, and therefore, by any chance, if there is malicious activity, the person behind the security breach will not have access to the userâs funds.
To ensure that security has been enhanced, traders can limit the number of actions that a bot can take. They can start with conservative trade activities. Itâs also advisable to run just one bot for every account so that bots do not start competing for funds. When users go for advanced subscriptions, they are allowed to run multiple bots, but this can be overcome by creating subaccounts with the aid of Bitstamp.
Cryptotrader also clearly states that they strive to ensure that personal data is protected. The platform does not share tradersâ private data with third parties. Accounts that deliver spam or engage in any other illegal activity are closed immediately. Moreover, code that an individual shares will remain the intellectual property of the traders.
Cryptotrader will also not access the userâs strategies without their permission unless the access is for maintenance purposes.
The Final Verdict
There is no doubt that Cryptotrader is an easy-to-use automated crypto trading platform. It uses algorithms that allow traders to automate the process of buying and selling cryptocurrencies.
The platform is well-integrated with different, popular, and extensive crypto exchange avenues. It allows users to start auto trading without any software installation required.
We liked the fact that no prior programming knowledge is required to build your bots. There are readily available strategies you can use to trade. Users can start and continue learning with the help of support materials available on the website.
If you are not a veteran crypto trader, we highly suggest that you utilize Cryptotraderâs demo trading account before jumping into a live trade. Itâs also advisable to opt for conservative strategies which require small amounts of money once you start live trading.
We can sum it up by saying that Cryptotrader is an excellent platform for those who donât have the time or skill to always follow crypto market trends and execute successful trade decisions. It removes the burden from your shoulders, letting you enjoy your life as you earn passively. Itâs a legit platform that does what its creators say.