Bitcoin Trading

Cryptotrader Review 2019: Worth Your Money?

single-image

Cryptocurrency has taken the world by storm and thanks to efforts being taken for its mainstream adoption and its popularity amongst traders, it has become a household name. A lot of professionals have started trading cryptocurrencies full-time to usurp huge gains from the market volatilities. The only problem that seems to bug traders is the unpredictable nature of the cryptocurrency market. However, like every problem, this problem too can be easily solved.

Most traders indulge in high-volume trades. Even with slight variations in the market, high volume trades have helped traders gain significant profit. However, there is one issue with this solution. It is virtually impossible for a trader to always be on his toes. This is a volatile market and you must be able to perform a transaction as soon as any changes occur. This is quite a task as we are often occupied with other matters and also, there’s a limit to our physical capabilities. This is where trading bots come into picture.

Trading bots are automated software packages which help you create a trading strategy and then executes the operations on your behalf. Simply put, a trading bot will buy or sell your crypto assets depending upon the instructions that you give. One of the major advantages in such cases is that a trading bot is active 24 hours a day, hence it is a great way to maximize your gains from the cryptomarket.

Recently many trading bots have been developed, each having various features which make trading much more easier. One such trading bot is the Crypotrader. It has been gaining a lot of attention due to its ease of use and other features. Let us have a look at what exactly Cryptotrader is, how it works, the advantages and disadvantages of using it and whether you can really make a profit out of it.

GET STARTED WITH CRYPTOTRADER!

Cryptotrader: An Introduction

Cryptotrader is a trading platform which allows you to make automated transactions. The various trading bots on the platform can help you devise a strategy depending upon your investment goals. One of the best things about Cryptotrader is that it is cloud-based, allowing you the comfort of making a transaction without any hardware restrictions.

cryptotrader logo

 

It is mainly used by traders for digital assets like Bitcoin and altcoins like Litecoin and Ethereum, as it provides its user the freedom of indulging in algorithmic trading, that is, it takes automated decisions based on certain parameters. There are a variety of trading bots available on the platform with different trading strategies. Some of these follow an aggressive path with minimum lock-in, helping you gain maximum profits while other bots may take conservative decisions if your plan is gaining long-term profits.

It does not require any additional software as users have the freedom of choosing any automated strategy that suits them the most. Their scripting language is based on CoffeeScript while their trading bots run on a scalable VPS cloud which makes it possible to perform transactions 24 hours a day, 7 days a week.

CryptoTrader Review: What’s in Store?

Let us have a look at the features which makes Cryptotrader an interesting prospect for traders:

1. Cloud-Based Platform

One of the best features of Cryptotrader is its Cloud-based platform. It makes trading easier as you can perform a transaction whenever and wherever you want to. All you have to do is create an account after which you are assigned a username and a password. Once you’ve logged in to their website using this username and password, you are ready to begin creating your trading strategy.

All you need is an internet connection and you’re ready to begin trading. You simply need a web browser which can be operated from any device. However, experts suggest that you should use a desktop during initial configuration to avoid missing out on any critical details. After your initial strategy is configured, you can then perform operations as per your convenience.

2. Support for Multiple Exchange Platforms

Cryptotrader supports all the major exchange platforms which means you can link the accounts on your supported exchanges with the bot. This will grant the bot the authority to perform transactions on your behalf on the exchange of your choice, provided it is supported by Cryptotrader.

Some of the major exchange platforms supported by Cryptotrader are Bitfinex, Kraken, Binance, Poloniex, BitStamp, Bittrex, Huboi, and K Coin, which is quite comprehensive as it contains the most popular exchange platforms in terms of market volume. These exchanges are supported by Cryptotrader simply because of the fact that they have a large user base due to their lower rates for performing transactions and easy-to-use interface.

3. Trial Runs for Your Strategy

If you are not sure of how your strategy will turn out to be, you can always try it out first on Cryptotrader. You can get backtesting of your strategies to help you determine whether your strategy will be profitable or not. An analysis of the past performances of the various coins helps the platform determine whether or not the implementation of your strategy would be successful. Backtesting is quite helpful as it helps you understand the results when we compare it to positions that the trade could’ve been closed at.

This is quite helpful for seasoned traders and novices alike. Since, most novices rely on internet advice or invest through a seasoned cryptocurrency broker, they are at a risk of incurring losses. Even in the case of experts, understanding how their strategy works in live scenario can help them revise their strategy. Since investing in cryptocurrency has a risk factor, trials and backtesting can help you avert most of the risks.

4. Live Trading

Sometimes traders suffer due to a lack of awareness about the fluctuation in the prices of altcoins. However, with Cryptotrader, you do not have to worry about this at all. Cryptotrader has some of the some of the fastest servers in the cryptocurrency trading domain, which means that you never have to lose out because of changes in price. As soon as there is any change in the price, it is instantly reflected on your screen.

This way, you would not lose out due to delays or a lag in the bot’s server. Live status coupled with seamless rate of transaction ensures that Cryptotrader remains a one stop destination for all your trading needs. You are also safe from price fluctuations halfway through the transactions.

5. Ideal for Beginners

Cryptotrader is an ideal choice for traders at any stage of expertise. However, it has one of the best trading environment for the beginners. Cryptotrader lets you experiment with various strategies and test them in live conditions before you actually employ it.  There are multiple tools available for modifying the trading bot which helps you create new strategies with ease.

Apart from the various tools on offer, Cryptotrader also has an entire marketplace for buying and selling strategies. These strategies get sold at different prices depending upon their success rate. If you’re unsure of your strategy, you can always buy a strategy which is generating profit. Some strategies are also available free of cost along with the facility of backtesting.

Using these strategies can help you familiarize with the interface and create custom strategies. Thus without any investment at stake, you can choose to learn and make significant progress. Once you get a fair idea of how to create a good strategy and your strategy begins generating profit, you can start selling your strategy as well.

6. Offline Support

Lack of network coverage, exhaustion of our data limits, etc are some common problems you we might face. Fortunately, with Cryptotrader, you are always connected. It has one of the best SMS support services which provides you with all the alerts instantly that can aid your trading activities. You can get advanced services like starting or stopping a trade as well.

If you feel that the frequency of your notifications is too high, you can also opt out of receiving these updates. Opting out of these services will cease these SMS and email alerts instantly. Most traders, however, find these services highly reliable and use it religiously.

GET STARTED WITH CRYPTOTRADER!

Can We Really Make Money With Cryptotrader?

For every user, the primary criteria for choosing a trading platform is the certainty with which they can make profits. Under ideal circumstances, Cryptotrader can help you generate high profits. It is very likely that you can generate a huge profit, but it depends entirely on the strategy that you use. The marketplace has some of the best strategies, but at the same time, there are bad strategies as well. While some strategies help you maximize profits, others add to your losses. With the high degree of volatility in the cryptocurrency market, even the most effective strategies can end up making losses. You can never be assured whether or not a strategy will live up to its expectations.

Hence, it is always advised to get a thorough understanding of the market before creating any strategy. A dynamic strategy which keeps a track of all the changes in the market and adapts to tough situations is the only way of receiving guaranteed profits. You must take the help of the backtesting feature as much as you can before treading into the real market to avoid facing losses. You must also be able to predict market changes in the future depending upon the current scenario and use analytical tools to ensure that you are well-versed with adapting to adverse market conditions.

To sum it up, if you are good at programming, you can create your own strategies and bots, which can work better than the available bots. Also, one must have intensive knowledge of the market and be insightful about future trends, which can help you build the best bots. Once you create a strategy which incorporates all these features, it is highly possible that you can make profits on the platform.

Advantages of Using Cryptotrader

Every aspect of trading comes with its associated sets of pros and cons. The efficiency of using anything depends on whether the pros outweigh cons. Let us first have a look at the various advantages of using Cryptotrader.

1. The Community of Traders

Cryptotrader boasts of one of the strongest communities online, with over 8 million traders using the platform. There are veteran traders on the platform who have the combined knowledge of stock markets and cryptocurrency and are able to exploit the various features of the trading bots to turn it into a money-making venture.  Depending upon your trading capabilities, you can pick one that suits you the best. If you’re unable to decide, then you can let the bot pick a strategy for you which is quite similar to your style of trade.

2. Avoid Constant Monitoring

As mentioned above, one of the most important reasons why people use trading bots is the fact they are always be present to perform transactions. As all the features on Cryptotrader are automated, you can be assured of a hassle-free experience. Since the bot performs the transaction on your behalf, all you have to do is select a strategy and then sit back and relax as the bot works wonders. The extent of automated actions on the platform is evident from the fact that you do not even have to put up withdrawal requests, as winning trades directly get transferred to your account. Once you’re satisfied with the backtesting, simply click the Run button and let the bot do all the work.

3. Plethora of Trading Options

Once you subscribe to Cryptotrader, you can choose from the various plans on offer depending upon your trading strategy. Users also have an option of trading multiple coins using multiple APIs of different accounts depending upon the type of subscription that they choose.

4. A Boon for Beginners

If you wish to get familiar with cryptocurrency and begin performing trading operations, Cryptotrader is an ideal place for you. If you make the right strategy, you can be assured of generating profits from this platform.

Disadvantages of Cryptotrader

Like every trading bot, Cryptotrader has its set of cons. Despite the fact that most of these cons are related to the market conditions, Cryptotrader may still need to address these issues. They are as follows:

1. Affected By Market Volatility

There is no single strategy which can help you cope with market volatilities. You can not stick to one strategy as the market changes every second. Although, this is the general problem with the crypto market, but you still need to constantly update your strategy every time to stay abreast with the changes in the market.

2. Requires Programming Knowledge

The only underlying problem with Cryptotrader is that you transform your ideas into codes. Although you may have great ideas for devising a strategy, converting the same into codes may turn out to be slightly difficult. If you have all the knowledge regarding trade, but cannot code the same for creating a strategy, you won’t be able to fully utilize the features provided by Cryptotrader.

Cryptotrader Pricing

Depending upon the features that you want and the frequency of your trades, you can choose one of the plans. There are currently four plans available on Cryptotrader. Choosing any plan requires you to make monthly payments in the form of Bitcoin. The Basic+plan costs 0.0048 BTC. In the basic plan, you can get backtesting, email alerts and one trading bot. The only restriction in this plan is that the equity is limited to $1000.

The Regular+plan has all the features of the basic plan but has a higher equity limit. In this plan, your equity limit is $5000 and the cost of this plan is 0.0067 BTC. The third plan on offer is the Pro plan which is priced at 0.0124 BTC per month, but gets you an equity limit of $20,000 along with a host of other features like margin trading, short positions, access to multiple trading instruments, and priority access to new features, plus five trading bots.

On the higher end, you have the VIP plan which is priced at 0.00236 BTC and lets you perform trades with 10 trading bots and grants you unlimited equity. You also receive priority support with this plan. If you’re serious about trading, then the premium plan is the one for you. Priced at 0.588 BTC per month, you can trade with twenty-five trading bots at once.

GET STARTED WITH CRYPTOTRADER!

Is Cryptotrader Worth Your Money?

Cryptotrader is a great trading bot for people looking to venture into the automated trading domain. With the right knowledge and adaptability of the crypto market, you can be assured of generating high profits.

Leave a Comment

Your email address will not be published.

You may also like