When we talk about trading and profits, the first thing that comes to our mind is the stock market, Wall Street, crash etc. But over the years, there is a new commodity that has gained popularity because of its extreme rise to fame and increase in worth over the past few years.
Cryptocurrency is the new trading trend in the world where people from all origins and professions are investing and trading non-stop. Many professionals have successfully shifted into cryptocurrency trade. Sadly, since it has gained such a huge following throughout the world, the cryptocurrency trading market is one of the most volatile trading commodities.
Even the slightest change can occur in a matter of seconds, and can either mean a huge profit or a huge loss for the trader. So, the only solution to this problem at the time was to be glued to the computer screen and perform transactions as soon as the currency varied.
The tech geniuses at IT industries came up with something called a cryptocurrency robot. This robot consists of a set of algorithms and software tools that help traders perform transactions even when they are not online. These trading bots are online 24/7 on behalf of the user and will buy and sell the coins as per the fluctuation of their values, without missing major opportunities.
These robots turned out to be very convenient for users, and had taken over the cryptomarket. CryptoTrader is a similar software that works on the principle of the cryptobots but is has a few advanced features and a slightly different interface. In this CryptoTrader Review, we will discuss whether this software is legit and can help you gain some profits along the way or not.
What is CryptoTrader?
CryptoTrader is basically a trading platform that consists of various advanced trading tools and strategies. Unlike the trading bot, CryptoTrader is a software with not one, but various other trading bots that help you in devising a strategy based on your investment goals. CryptoTrader is widely known for its cloud-based functioning, and allows users to experience this software on all devices (with no hardware restrictions).
Like many other trading bots in the market, CryptoTrader majorly deals with almost all cryptocurrencies, and at the same time, provides strong strategies based on its automated decisions and algorithms. These strategies are a bit different from that of the bots and follow a rigorous plan on getting you the profit.
Since CryptoTrader is totally cloud-based, it does not require any additional software or extra hardware to set it up. It is surprisingly easy and users have the freedom to choose their desired strategy on the basis of their future investment goals. Normally, people would think that it would be safe to have long term investments profits are more profitable, and some might think that short term profits are more valuable, so the CryptoTrader gives you the freedom to choose whatever method of investment and profit you would want, and then does its job.
Often times, people get confused looking at so many bots in the market. Based on relevancy, you would not know which to choose and once you do choose a bot, the long term profit trail starts off. But, with CryptoTrader, there are plenty of bots to choose from, and several advanced trading tools and strategies that come together to form a large plethora of trading ammunition to take on the volatility of the market.
Cryptotrader Review: Features Of CryptoTrader
1. Cloud-Based Platform
CryptoTrader is a fully cloud-based platform, this means that you can trade wherever you want as long as you are connected to the internet. Once you create an account with a username and password, you are free to use the cloud based platform at your will, and can begin with the strategies whenever and wherever.
You can use any web browser from any device to have a look at your trades and make the required changes. But it is always advisable to use a desktop during your initialization process, and while deciding the base strategy on which you would like CryptoTrader to operate.
2. Support All Major Exchange Platforms
Being a multi-faceted platform, Cryptotrader has all the major exchanges on its platform. So once you create your account, you can link all the accounts of your supported exchanges to the CryptoTrader account. This will make it easy for CryptoTrader to perform transactions on your behalf.
Bitfinex, Kraken, Binance, Poloniex, BitStamp, Bittrex, Huboi, and K Coin are some of the major exchange platforms on CryptoTrader. All of these are majorly used by most traders in the world. These exchanges have a large user base, because of their lower rates for performing transactions and easy-to-use interface, and CryptoTrader supports them.
3. Testing Your Strategies
One of the best features of CryptoTrader is that if you are a newbie to the trading game, and are not sure if your strategy would pay off, then you are given an opportunity to test these strategies. The software does an analysis on based on past performances of your strategy on various other coins. This back-testing of strategies will help you plan ahead for your investment goals. It also helps you understand the results of your strategy when compared to the position it could have been close to.
This is a very good feature for rookies and seasoned traders both. New traders would often rely on the internet for strategies or might ask around for advice, not knowing that different strategies and currencies might not work. So, new traders can test and retest their strategies whereas, veteran traders can innovate and try bringing new strategies to the market with the help of this feature.
4. Live Trading
The Cryptomarket is a battlefield. You never know what might happen when. Many times, many traders, both professional and new, suffer huge losses because they are not aware of the changes that have taken place in the market. Luckily, since CryptoTrader isa strong platform, it has one of the fastest servers in the trading domain. This means that you will always be updated on the slightest change occurring on the charts.
There are no delays and lags in the server. With the live status feature and reasonable transaction rate, CryptoTrader is a one-stop destination for all kinds of traders in the market.
5. Helpful For Beginners
CryptoTrader is suited for all kinds of traders. Inexperienced traders can make their strategies and test them as they like, before really putting them to use. With the tools and tutorials on the platform, new users never face any problem entering the crypto-trading market.
CryptoTrader also has a marketplace for buying and selling strategies. These strategies get purchased at different prices based on their rate of success. If a user is not very confident about his/her strategy, they can always buy a promising strategy which will help generate profit.
6. Offline Support
Many times, users face a lack of network coverage or loss of cellular data. Fortunately, CryptoTrader keeps users connected to the market at all times. It possesses one of the fastest SMS support services that constantly give you updates on all your trading activities. You can also get advanced trading features that will allow you to start and stop your trades via SMS.
If the notifications get too annoying, you can opt out of this service and go for the email updates as well.
Advantages Of CryptoTrader
In this CryptoTrader review, we will cover the merits and demerits of the CryptoTrader. If you really want to have a clearer picture of the CryptoTrader, then you should get a better idea of it through its advantages. Of course, once the advantages outnumber the disadvantages, you will find that CryptoTrader is a truly trustworthy trading platform.
1. The Community of Traders
Cryptotrader has one of the largest and strongest communities online, with over 8-9 million traders on the trading platform. There are new traders coming everyday and veteran traders with a good knowledge of cryptocurrency and the stock trade love to use the countless advanced features provided by CryptoTrader.
You can pick any trading method and strategy and discuss it with the community if you happen to be new to CryptoTrader. You can often take help from the community in your trading patterns and benefit other traders as well.
2. Avoid Constant Monitoring
Like we mentioned in the above section, CryptoTrader is completely cloud-based, and almost everything is online. So, you don’t have to worry at all when it comes to constantly monitoring the market. CryptoTrader is always live and will be online 24/7 looking out for your trades. All the CryptoTrading features are automated, so the bot will perform transactions on your behalf. All you have to do is carry on with your regular work and let CryptoTrader make you money.
3. Diverse Trading Options
CryptoTrader is not a single bot with limited trading tools and options, it is a platform with multiple trading tools. Once you create an account, you can choose from the wide ranging tools and features to rally your trading game. Users are also given the option of trading multiple coins by using different APIs based on the subscription they want.
4. Best For Beginners
If you are new to the crypto trade game and wish to get familiar with cryptocurrency, then CryptoTrader is the best option for you. It will help you with trading strategies and will give you updates on new coins and the legitimacy of other altcoins. CryptoTrader will work like trading concierge for you in the trading market.
Disadvantages Of CryptoTrader
Like any other trading medium in this world, CryptoTrader has its own flaws, however, most of these are market-related. So, let us move on to the next part of this CryptoTrader Review, i.e, a few disadvantages of CryptoTrader.
1. Requires Basic Programming Language
To get the best out of this platform, users might need some coding experience. You can do a lot of stuff without coding, but if you truly want your strategies to work out, then you have to learn to translate your strategies into code and then apply them on the CryptoTrader platform. So, for new users, though there are tutorials and tips all around the interface, a little coding might help you out.
2. Market Volatility
So, many users have complained that sometimes the strategies they use from CryptoTrader have not worked out. This is actually not a shocker, because CryptoTrader, being one of the biggest platforms for trading, has millions of strategies online, and these strategies are not made on one fixed market condition, but various other conditions that have been affecting the market over the years, so many strategies might not work in the start. But in the end, CryptoTrader does add on a few profits along the way.
Can You Really Make Money Off Of CryptoTrader?
Theoretically speaking, with the tools and features that CrytoTrader has, you would never face a loss. However, that is only theoretical. When taking market conditions into account, it gets very tough to stick to a strategy and hope that it works well with all types of fluctuations. It doesn’t.
CryptoTrader will surely help you create a successful trading portfolio. This is because CryptoTrader will help you backtest your strategies according to the predicted market and will give you insights to your plan.
Once you are able to recognize the market conditions and also understand the uses of the inference features for technical analysis, your strategies will be unstoppable and will actually get you some profit. So, on the basis of the analysis of the market, you can try out various strategies that have previously been profitable, thereby generating profits.
Also, if you have a bit of a programmer in you, then you can easily create your own strategies and bots. However, you should have a very profound knowledge of the market to create a bot. If not, then you can actually face a bit of a loss in dedicating so much time to making a strategy or bot.
There are five major pricing plans on CryptoTrader and all of these are priced with the Bitcoin. So, depending on the type of plan the user opts for, backtesting, bots and strategies will be available accordingly.
- Cost starts from 0.0042 Bitcoin per month
- Gives 1 live trading bot
- And a limit of $1000 on trading account equity
- Starts from 0.0059 Bitcoin per month
- Provides upto 3 live trading bots
- And a $5000 limit on trading account equity
- Starts from 0.011 BTC per month
- Gives up to 5 live trading bots
- A $20,000 limit on trading account equity
- Also gives Margin trading / short positions features
- Starts from 0.0209 BTC per month
- Provides up to 10 live trading bots
- No limit on trading account equity
- Margin trading/short positions features provided
- Priority customer support
- Starts at 0.0522 BTC per month
- Gives upto 25 live trading bots
- Unlimited trading account equity limit
- Margin trading/short positions
- Priority support
Cryptotrader Review – Conclusion
CryptoTrader has been around for a long time now, and has never come under the radar of a scam ever since it has been launched. Though many users have complained about the strategies not working, that is as common as it gets with bots in the market. However, this is one of those companies that actually wants to give their customers a genuine service.
There are plenty of users that are more than happy with their experience with CryptoTrader and suggest that consistency is what has helped them get through the unpredictable market.
In conclusion, if you have enough market experience then this is a good place for you, but if you are a new trader with no coding or market experience, this is probably not the platform for you.