Cryptocurrencies have spurred up in many different forms with a seemingly endless list of tokens to choose from. For the novice and the experienced investor, the subject can feel a little overwhelming. There is the possibility that if a tool were to exist that could simplify the process of investing in cryptocurrencies, a much broader group of people would be willing to do it. This tool exists in the form of trading robots, which are essentially computer algorithms that facilitate trading for a variety of cryptocurrency tokens.
What is CryptoTrader?
Crypto Trader is a trading robot that utilizes a combination of complex algorithms in order to facilitate the buying and selling of cryptocurrencies at incredibly fast speeds. A user of this application can tailor their own personal trading strategy due to the flexibility of the software. Unfortunately, to truly create custom strategies, some form of coding experience would be required in order to get the most out of the software – known as CoffeeScripts.
However, if you lack any prior coding knowledge or simply wish to have a more user-friendly experience, then you can make use of the online editor, where it is easy to modify strategies within specified parameters.
Pros and Cons of CryptoTrader
- No downloads: You do not need to download or install any software in your device as the platform runs entirely on the cloud.
- Support community: After being in the market since 2013, the robot now enjoys a large population of users who are willing to help each other. The community has videos and straightforward guides on nearly all the daily operations on the site.
- Backtesting: Users can test their strategies without investing real money to figure out its viability before going live on the trading exchanges.
- Buying trading strategies: New traders can use the platform’s Strategy Markets to buy trading strategies from professional traders.
- In order to create truly tailor-made strategies, some form of coding experience will be required, and this can pose a challenge to many.
Getting Started With Crypto Trader
The initial step to beginning your journey with Crypto Trader would be to register on the online platform https://bitstamp.net. It is completely free to register an online profile and all data is secured with the latest in cryptographic technologies.
Please note that in order to register on https://bitstamp.net, you will be required to verify your credentials, such photo ID and proof of residence. Bear in mind that the vetting process for verification purposes can take up to a week.
The following step would be to create an API key on the Bitstamp platform. The key is created by logging into your profile, select ‘Securities’ located the top left menu, and then ‘API access’. After that, select the option ‘New API key’. It is important to note that you must make a copy of your API key and your ‘SECRET’, as the these will only be disclosed once.
After this, you will be required to make a deposit into your account before you can begin trading; there are multiple methods available to you in order to make this deposit. The methods include payments via credit card, international wire transfer, or Bitcoin.
The final step would be to head back to Crypto Trader online and fill in the required fields. Once registered, you will be able to begin trading immediately.
Is Crypto Trader Legit? Or Is It A Scam?
Crypto Trader is a legitimate trading robot and does not provide any guarantee that its user base will make profits, but rather provides a mechanism that makes the likelihood of generating profits much greater. Yet, in order to test the legitimacy of this operation, we decided to test the application for ourselves as well as review the experiences had by other users.
Overall, it would seem that Crypto Trader has carved out a stable, highly secure application that assists the well-versed trader and those seeking to build their own portfolio intelligently, through the use of well-crafted algorithms. Crypto Trader provides additional security processes to ensure that your account is extremely well protected, through the application of Two-Factor Authentication or TFA.
This TFA is a combination of the traditional password sign-in and authentication code sent directly to your mobile phone.
Who Is Behind Crypto Trader?
Crypto Trader is owned by Algocraft Limited, Algocraft Limited is an organization that was initially started with the purpose of improving fintech opportunities within the Canadian markets, but they have since branched out into a more global focus.
Our experience with Crypto Trader
During the process of us trying out Crypto Trader, we have discovered so much more about cryptocurrency demand and how algorithms really can help us to ensure that no opportunities are missed. Crypto Trader has a well-designed user-interface that is simple and clear, in addition, their TFA ensured that at all points we had peace of mind in the security of our money and our personal data.
Conclusion: Crypto Trader
Crypto Trader is a trading robot for the future; this application has a huge amount of potential due to its customizable strategies and cloud-based service. Of course, while this platform does have a high rate of success and an extremely supportive community, investing with cryptocurrency as with all investments does pose certain risks. Therefore, before embarking on any investment, further research should always be conducted.
Frequently Asked Questions
Is my money going to be protected?
Yes. Trading bots access the funds through an API key and do not have direct access to your account or any monies within it.
Can I run two bots on one account?
This practise can cause issues, as these two trading robots will both attempt to use the funds, and this may lead to inefficiencies.
How much money should I deposit?
There is no specified minimum amount to deposit on the platform, however the results that you expect to receive will dictate the amount of money you should deposit.
Can I withdraw the profits I earn?
Yes, you can withdraw your money and the funds should reflect in around 24 hours in your bank account.