Botsfolio is a system offering trading bots that trade from your exchange and let you track your transactions from the dashboard. The goal of this review is to find out whether this is a safe and worthwhile investment. Here, we are going to discuss the various aspects of this platform.
How does Botsfolio crypto bot function?
This platform has long and short term strategies like value investing, hedged trading, futures trading, and fixed income. The bots scan the market 24/7, trying to find profitable trading opportunities. There is no need to build your own strategies or configure the bots, since the system is 100% automated.
Botsfolio review – positive aspects
Let’s look at the advantages of this platform:
- Suitable for beginners
- Full control over investments
- Multiple strategies
Botsfolio review – negative aspects
The cons of this platform are as follows:
- Only compatible with a handful of exchanges
- Paper trading is not available
Time in business
The vendor has not mentioned when this crypto bot was launched. As such, we don’t know how much time it has spent in the market.
There are several reviews for this trading bot on third-party websites. It has decent ratings on these websites, which tells us that the platform has a good reputation.
Botsfolio only supports three exchanges right now. These are Binance, Coinbase Pro, and FTX.
UI of Botsfolio
Botsfolio has a simple and clutter-free interface that new users can easily make sense of. You can get a detailed overview of your portfolio and see how each of your assets is performing.
Key features of Botsfolio
Here are the main features of this platform:
- Investment on autopilot
While setting up the bot, you need to specify your investment objectives. This will decide how your investment will be allocated in various strategies. This diversification of investment occurs automatically.
- Risk management
The trading bots on this platform have risk management principles built into them. This makes it unlikely that users will lose a large portion of their accounts.
- Full control over investments
You can withdraw all your crypto from your Binance account anytime you wish. Botsfolio does not have permission to transfer or withdraw your funds.
How to get started on Botsfolio?
After registering on the website, you need to choose a pricing plan. Then, you have to specify your investment goals. You need to answer a few questions that will tell the system how your investment should be allocated in various strategies. Next, you need to add the required investment amount to your exchange and connect it with the platform. The robots will start trading automatically and you can monitor the entire process from the dashboard.
How secure is Botsfolio?
All of your assets are stored in the exchange. Even if someone gets access to the Botsfolio system, they won’t be able to extract any of your funds. The system has no control over your deposits and withdrawals.
There is no live chat feature on the website. The vendor has shared an email address where you can drop your queries.
Are traders happy with Botsfolio?
This platform has a rating of 3.7 out of 5 on Trustpilot. Users have praised the ease of usage, the competitive pricing plans, and the intuitive interface.
Pricing and fees
There are four pricing plans based on portfolio size. For a $1k to $3k portfolio, you need to pay $4.75 per month. A $9.50/month plan is available for a portfolio value of $3k to $10k. For larger portfolios of $10k to $50k, you need to pay $14.25/month, and the most expensive plan costs $19/month. There is a 15% quarterly performance fee on the profits.
Is a free trial available?
There is no free trial for this service.
Right now, this system only supports English.
What kind of traders is Botsfolio best suited for?
This trading bot is best suited for those who don’t have much trading experience. Novice traders don’t need to study the market and make predictions, as the entire operation is taken care of by the bot.
Botsfolio is a USA-based company. We don’t know when it was founded and the vendor has not revealed the identities of the developers.
Botsfolio verdict: should you give it a try?
This crypto bot is ideal for beginners who don’t have the required knowledge to conduct trading activities on their own. It has excellent risk management features and is easy to set up. However, it only supports three exchanges and suffers from a lack of transparency.