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Botcrypto Review: Should You Use This Trading Bot?

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Botcrypto Review: Should You Use This Trading Bot?

Botcrypto allows traders to build algorithms and backtest them on historic data to check the profitability and drawdown. Traders can purchase the service via multiple packages and get instant feedback on bots made. With our Botcrypto review, we will go deep within the pros and cons to see if market participants should automate their game plan or not.

Botcrypto overview

Constantin De La Roche, Theo Poizat, and Mehdi Boussad are the algorithm’s creators. They claim to be independent traders in the market and provide a LinkedIn link to prove their existence. They have an office in Botcrypto SAS 15, Avenue du Rhin 67100 Strasbourg, France.

Botcrypto quick summary

The service has the following key points:

  • There are multiple subscription packages
  • No coding skills are required
  • Unlimited strategies and simulations
  • Notifications available on Discord and Slack

Is it easy to use? 

To use the platform, traders have to sign up using their credentials. The EA will perform calculations based on the coded information, send orders to your account, and manage them accordingly. 

Botcrypto reputation

Traders can head over to the documentation section or use the helpdesk service to get answers to their questions. There is no mobile application available as of now. There are no customer reviews available to guide us on the experience of other participants in using the service.

What crypto exchanges are supported?

Botcrypto supports the following exchanges as of now:

  • Binance
  • Kraken

Price

Traders can use the service for free; however, running your EA on the market is not possible. To get 2,5 and  20 algorithms, the asking price is €9.99, €29.99, and €59.99. The developers also provide custom offers for those wishing to use more bots.

Security and privacy of Botcrypto

Botcrypto uses AI keys to connect to your exchange and send orders. They claim to have no access to withdraw or misuse your cash. No information is available on how they deal with phishing attacks.

Are traders happy with Botcrypto?

Customer support is available via email, phone, and live chat. They are not clear on the availability hours. 

As mentioned before, there are no customer reviews present on noted forums such as TrustPilot. Therefore we cannot know how the general community feels about the EA.

Profitability of Botcrypto

To get the most out of the service, traders have to develop their custom strategies and backtest them on the markets manually. The amount of profitability will vary depending on the conditions and the risk management of the algorithm.

Deposits, withdrawals, and fees

The algorithm does not have any deposits and withdrawals as the API keys only allow trading on the exchange. The only fees are the recurring subscription costs that we have highlighted previously. 

Advantages of Botcrypto

The benefits of the AI are as follows:

Historical testing

The backtesting option is available on the website that allows traders to judge the performance of their system on historical data. They can know the winning rate or the drawdown value expected in the future.

No coding experience

Investors do not require any coding experience beforehand. By entering the indicators they wish to use, it is possible to automate the strategy immediately.

Disadvantages of Botcrypto

While the cons are listed as:

No free trial

The platform does not allow traders to test the service on the live market. Getting a subscription is a must for this activity which starts at €9.99.

Lack of supported exchanges

Botcrypto supports only two exchanges which may not be enough for many looking to diversify their assets.

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