Pionex invites traders who want to catch every tiny profit in the crypto market to acquire it. As a result, you will never miss any fluctuation that could turn your portfolio around. As of now, the platform has a monthly trading volume of $5 billion and 100k monthly active users.
The software seeks to help traders to capitalize on the high volatility that characterizes the cryptomarket. The bot is the brainchild of Pionex, a crypto exchange that has gained traction in the market in recent years, thanks to the distinctive features it offers its client base. While the bot aims at making profits for you, there are no guarantees it will succeed in doing so. The earnings made will depend on your trading skills and conditions in the market.
|Binance, Binance.US, KuCoin, Gemini, Pionex, Coinbase, Kraken, Crypto.com, and Gate.io.
These are the features of the bot based on the vendor’s description:
- Works 24/7
Pionex is designed to trade automatically throughout without stopping. It basically frees you from putting all of your attention on the volatile crypto market.
- Buys the dip
The system allows you to reduce your average buying price dramatically in an abrupt price drop.
- Earns more bitcoin compared to HODL
You can begin using the software with the bitcoin you hold and obtain more bitcoin when its price fluctuates.
How does it work?
The system assesses the market and places buys/sell orders based on its inbuilt calculations. It monitors the market and initiates trades when certain conditions are met. Like most other crypto trading bots, Pionex interacts with the connected exchange to conduct trades on your behalf. There’s no specific deposit amount you need to have for the bot to begin trading. The minimum capital is dependent on the coin you are working with and the strategy you select.
In effect, the Pionex bot is one of the many trading tools incorporated in Pionex, and therefore, it allows you to access hundreds of crypto coins. Some include Bitcoin, Ethereum, Litecoin, Dogecoin, and Shina Inu.
How does Pionex stand out?
Pionex stands out for being cost-friendly. As you will see later in this review, setting up an account and accessing the bot is free. The trading fees are very low. Only a 0.05% fee is charged per trade so as to ensure you get maximum returns in the market.
Best for: users who are short on time
One of the main goals of this bot is to make the trading process simpler by automating it. Manual trading can be tasking as you have to spend long periods of time on the screen monitoring and assessing the market so as to identify lucrative trading opportunities. So, you may need to sacrifice some things, including leisure activities, sleep, and on some occasions, conventional jobs. Pionex bot ensures that you don’t make these sacrifices by eliminating manual trading.
This bot is available for free. In essence, the software is one of the 16 free integrated bots on the Pionex exchange, making it a freely available feature. No one-time expenses, subscription fees, or hidden taxes are charged. The only cost you will incur relates to the fees charged by the Pionex exchange. In that regard, a 0.05% fee is derived from every taker or maker transaction. Also, withdrawing different crypto assets from the exchange attracts a fixed fee.
How safe is Pionex?
Pionex is relatively safe. According to the vendor, one of the factors that make the platform safe is the fact that it has a Money Services Business license issued by FinCEN, an organization that protects financial systems from illegal use. Secondly, the platform has aggregated liquidity from some of the most popular exchanges—Binance and Huobi. In this regard, your assets are safely stored in the exchanges where no one else can access them. Last but not least, Pionex keeps 100% reserve, ready for instant withdrawal on demand.
There’s not enough information about the company behind this bot. Only a single member of the Pionex professional team is introduced on the official website. This individual is known as Larry Toh, and is the Chief Compliance Officer of the company. He joined Pionex in 2020, and he currently focuses on legal and regulatory matters in Hong Kong and Singapore. We wouldn’t mind being introduced to the other members of the team, including the founder.
Is it a good choice for beginners?
Yes, it is. The bot is already configured and makes life easier, especially for traders who aren’t interested in tweaking the software in any way to optimize their outcomes. After all, you don’t need to have any coding or trading skills to operate the bot. It will do everything with minimal input from you.