The fully automated cryptocurrency trading software WealthyBot uses API keys to trade your assets on compatible exchanges. It only works with one cryptocurrency exchange — Binance. Because the robot’s developers remain unidentified, we can’t claim with confidence that the software is of excellent quality.
WealthyBot detailed analysis
Cryptocurrency trading bots powered by WealthyBot run around the clock. It trades on nine different crypto currency pairs. You can test the bots before utilizing them by using the simulator feature. The program uses USDT to place buy/sell orders and stores investments and profits in the user’s portfolios.
How WealthyBot works
In order to find mid-price points at which to purchase and sell, the bot adopts an Up/Down strategy and buys and sells completely automatically. As soon as it comes within a few percentage points of that profit, it will close. The website does not include any live or backtesting records.
- Log in to the platform using your email address and a password you’ve created.
- Deposit USDT into your Binance account.
- Integrate WealthyBot with Binance API keys.
- Pay the bot’s fees with the credits you’ve added to your account.
- Set up a live trader in the settings.
- Run the bot after saving the settings.
Is it easy to use?
Because it is totally automated, the robot acts on your behalf in the market. In addition, the seller provides a user guide to help you navigate the features. That said, the platform seems a bit cluttered, and this reduces its intuitiveness.
- The bot is constantly scanning the market for favorable conditions and then automatically placing trades.
- Traders can practice their techniques on the free simulator before investing real money.
- WealthyBot uses two pre-built trading strategies that can be tweaked to suit the user’s preferences.
- You need API keys to connect to your exchange.
Services offered by WealthyBot
Fully automatic trading is available 24 hours a day, and nine cryptocurrency pairs are available for trading. You may integrate it with the exchange using the API interface. Many educational resources and user guides are also available to traders.
Does it have a native token?
No. WealthyBot does not have a native token.
WealthyBot’s user interface is simple, but it’s not beginner-friendly. It doesn’t go into detail on the system’s functions or features. But there is a detailed Visual Onboarding Guide.
Is it a good bet for its price?
The bot service does not require a subscription fee, but the company does take a 20% cut of any earnings you generate from trading with the bot. Credits are used to pay for the profits. To begin “live” trading, you must have at least $150 in your Binance account and $25 in WealthyBot credits.
What exchanges does it support?
To use WealthyBot, you must have a Binance trading account. This limits user options and may discourage users of other exchanges.
WealthyBot can trade nine cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and others.
Are there any fees?
No. On the other hand, WealthyBot only charges a 20% commission on profits. They don’t get anything if you make losses.
You must have a crypto wallet in order to withdraw your funds from WealthyBot.
WealthyBot: Is it legit?
There is a problem with the vendor’s lack of transparency, which is a cause for concern. In addition, neither the company’s location nor the identities of the development team are mentioned anywhere.
What kind of security does WealthyBot offer?
API keys are used by WealthyBot to communicate with cryptocurrency exchanges. This creates some form of security as it means that they do not have access to your money. However, the vendor does not disclose any other security measures.
Is WealthyBot regulated?
We couldn’t uncover any proof that the robot had been approved or licensed by any government agency. The company itself makes pledges of GDPR compliance, though.
To make the things even worse, they provide no refund under any circumstances. This disadvantage is mentioned in their Terms and Conditions section.
Best recommended for: new traders
WealthyBot only charges you when you make a profit. As a result, rookie traders may wish to try it out with a modest amount of money to see if it’s any good.
Support is available via Telegram and Live Chat for customers.
How does WealthyBot reputation look?
The company is mentioned on TrustPilot only as an unclaimed account with quite a low rating of 3.4 stars out of 5 and a single review left in June 2021.
The independent sites like Myfxbook and FxBlue do not have access to WealthyBot’s trading results. Because of this, we are unable to verify their claims of profitability.
WealthyBot overall reviewWealthyBot overall review
Trading Results2/5 Bad
- Fully automated
- Has educational material for traders
- Lacks transparency about vendor identity.
- No backtest data
- Is largely unknown.