Home Crypto RevenueBot Review: Should You Use This Trading Bot?

RevenueBot Review: Should You Use This Trading Bot?

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RevenueBot Review: Should You Use This Trading Bot?

RevenueBot is an automated software for crypto trading. It helps to generate high returns with its automated setup. The platform supports many exchanges and you can work on several crypto coins simultaneously. This service does not charge any subscription fees, but only a percentage of the profits you make from the bot.  As per the vendor, there are 15943 active bots with a total of 129937 and the system has completed 16309 cycles profitably in 24 hours.

RevenueBot overview

This crypto trading tool is developed and promoted by RB Media FZC LLC. The company is based in the UAE.  We could not find info on the developer team including their expertise and experience. There are no details like how long it has been in the field, phone number, etc. For support, the vendor provides email addresses.

RevenueBot quick summary

Some of the important aspects of the platform that make it competitive as per the vendor are:

  • It provides full statistics on the bot cycle, orders, profits, and referrals.
  • The marketplace allows you to buy and sell pre-made configurations and mentoring services.
  • You can trade on multiple supported exchanges at the same time.
  • It is a cloud-based automated software that works 24/7.
  • Settings are flexible allowing you to make changes using the convenient control panel.
  • Notifications are sent via SMS, Telegram, Web, and email.
  • It uses filters to protect from trading during impact-creating news events.
  • The bot assesses all indicators and signals for each pair available on the exchange.
  • You can automatically switch the pair you are trading on using a predefined list or based on a volatility analyzer.

Is it easy to use?

Your exchange account funds are used by the bot for buying and selling orders. It makes use of the exchange API to place orders based on chosen algorithms and tracks the execution of the orders. Two main types of algorithms are used. One is the long algorithm where the bot buys when the price falls (initial part) and sells during a rise in price (final part). A predetermined set of safe orders are used for the process. The second method is the short algorithm where a sell order is used for an increase in price as the first step and a buy order when price drops as the final step.

RevenueBot reputation

Since there is very little info present on the company and the team members, it is difficult to know about the reputation. From the large number of active bots, daily new users, and profits, the system appears to be well-received by users.

What crypto exchanges are supported?

The exchanges that this platform supports are listed below:

  • Binance
  • Bitfinex
  • Bittrex
  • HitBTC
  • Kraken
  • Kucoin
  • Okex
  • Poloniex
  • CEX.IO
  • FTX
  • EXMO

Price

The vendor does not charge any subscription fee or trading fee for using the bot. You can use it for free and the company charges 20% of the profits you generate from the trading. The devs claim that the amount does not exceed $50 per month.

Security and privacy of RevenueBot

As per the vendor, the system does not store funds or accept deposits from users. All funds you trade are stored in your exchange account.

What about customer support? 

We found 112 reviews for the company on the Trustpilot site with a rating of 4.7/5. Here are a few screenshots:

Positive review for RevenueBot on the Trustpilot site.
Positive user review for RevenueBot on the Trustpilot site.

From the feedback, we find that the service is profitable and provides good technical and customer support.

Profitability of RevenueBot

The vendor provides performance results of various bots used by its large base of users.  However, since these are not verified results, it is difficult to know the efficacy and profitability of the system

Deposits, withdrawals and fees

For the deposit recommendation, the vendor claims that it depends on the deposit size and security orders. For this bot, the vendor recommends a deposit of $300 to $400 and an additional 20 safety orders. Now the withdrawal process is present as all user funds are handled directly by the concerned exchange.

Advantages of RevenueBot

Grid approach

It uses a smart grid of orders that includes the use of the Martingale method for identifying the volume and the overlap that occurs in price change during the time. 

Instant notifications

Notifications are sent on the transactions, daily profits, and other info via email, web, Telegram, and SMS.

Backtesting

The service allows simulated tests to understand the best operation configuration for a specific pair. You can use various settings and the method used by the bot for ensuring profitability.

Disadvantages of RevenueBot

Lack of vendor transparency

We could not find details about the company like how it was started, the team members, etc. The lack of info prevents us from an effective evaluation.

No verified results

While there are performance reports on the site, they are not verified results. Hence, they cannot be used to assess the performance of the bot.

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