NapBot offers copy trading bots, which traders can choose by witnessing the performance records depending on the risk and profits they are willing to take. The company claims to provide an easy-to-use interface with massive profits through its strategies. We will review their statements in our article and go through all the vital features to see if they can be good for us.
NapBot offers day trading or auto rebalancing algorithms through their signals. Investors can choose to follow one of the systems, and it will manage all the executions automatically. There are multiple subscription options to cater to the needs of traders.
|Price:||Starts at €19/month|
|Supported exchanges:||Bitfinex, Bitpanda Pro, BitMEX, Kraken, Bitstamp, OKEx, Phemex, and Binance|
The signal offering platform has the following features:
- An easy to use interface
- Portfolio tracker
- Provides trading bot for every trading style
- Multi-account traders that manage your trades
- Sets up easily
- A free 7-day trial
- Multiple portfolios are available
- Custom bot allocation
How does it work?
The company is not fully transparent in its working methodology. From the website, we can deduce that they use the standard API keys to connect to your exchange for sending signals.
Bitfinex, Bitpanda Pro, BitMEX, Kraken, Bitstamp, OKEx, Phemex, and Binance are the currently supported exchanges as shown on the website. The platform chooses the exchange on auto mode for getting better fills on your trades with minimal slippage.
How does NapBot stand out?
NapBot is unique in the sense that it requires no coding experience from the traders’ end. All the trading is done semi-automated, where portfolio managers look over each position.
Best for: all kinds of traders
Traders who wish to automate their trading but do not have the time or effort to develop an algorithm can use the platform. The crypto bots will trade on their accounts with full automation.
There is a seven-day free trial to test out the signals. Other than this, the silver packages start at €19/month and support only $1000 in budget. For €49, investors can use $3000 and use the custom bot allocation and utilize leverage. €99 will get you $5000 in trading volume and comes with machine learning and predictive bot AI as additional features.
How safe is NapBot?
The company uses API keys for connecting to the exchange. They do not list the security measures they take to ensure that customers are safe from phishing attacks.
The bot claims to be a trademark of the Napoleon crypto group and claims to have been launched by a group of experienced traders. They do not detail any information on their whereabouts or provide certificates proving their statements.
Is it a good choice for beginners?
Beginner traders can enjoy easy passive income, but they have to be careful of risk management. The traders offered by the company are limited based on the packages. With the basic option, the algorithm will only place positions once a week, which can cause a difference in performance or show an unsuitable drawdown.
NapBot review: pros and cons
The platform has the following benefits for traders:
- There are multiple subscription packages
- Investors do not need any coding experience
While the demerits are as follows:
- You have to sign up to see all the portfolios
- The free trial is limited to 7 days
- The best options are available with the platinum plan only