RevenueBot is developed for automated crypto trading on several exchanges(Binance, Kucoin, BitFinex, etc.) using an API interface. Traders can utilize several bots simultaneously and trade multiple currency pairs. This review will investigate the functions, working, drawbacks, and advantages of the platform.
RevenueBot s uses a martingale betting method to trade in the market. Traders can customize their algorithms or use predefined parameters for their systems. The dashboard includes recent transaction results and the performance of the system.
|Price:||No subscription plan/20% commission|
|Supported Exchanges:||Binance, Bitfinex, Bittrex, Poloniex, Exmo, FTX, Cex.io, HitBTC, OKEx, Kraken, Kucoin, Binance Future USDS-M & COIN-M|
Some of the most notable characteristics of RevenueBot include:
- The bot is cloud-based, and no installation of software is required.
- The platform marketplace lets users buy or sell preset bot settings or mentoring services.
- With flexible bot settings, traders can configure their algorithms according to their liking.
- A 60 day backtest records are available to check bots’ performance on different currency pairs.
How does it work?
RevenueBot works on a martingale betting system which can be risky and lead to significant losses. The platform uses available funds in the trader account to sell/buy according to the trading strategy. Currently, the system works on two types of algorithms, i.e., “Long and Short”. Traders can start trading by following these steps:
- Register on the platform
- Select the exchange and currency pair
- Create an API key and connect it to RevenueBot
- Specify the deposit and run the bot.
RevenueBot is compatible with 11 exchanges where traders can trade all the available cryptocurrencies. The supported exchanges include:
How does RevenueBot stand out?
The platform supports multiple exchanges and trading over the cloud, which does not require traders to run their PCs. The recommended deposit is $200-$300, which is within reach of a normal investor.
Best for: long-term investors
RevenueBot is suitable for long-term investors who can take risks with their investments. The martingale method best works for an extended trading period and may lead to almost 50% gain in a short period. The bot can be configured according to the desired settings, and beginners can access the pre-built strategies.
The platform is free to use and does not charge monthly subscription packages. RevenueBot deducts 20% commission on profits made by the bots. The maximum fee is $50/month on profits and does not exceed this amount.
How safe is RevenueBot ?
RevenueBot uses API keys for the safety of the funds and claims to have no withdrawal rights. The platform does not accept cryptocurrency deposits; everything is stored on the investor’s exchange. Bots use a risk hedging mechanism that works by flipping algorithms automatically according to the market conditions and reduces the risk of losing capital.
RevenueBot lacks basic information about the developers and team of experts. It is designed by UAE based free zone company RB MEDIA FZC LLC which was founded in 2021. The lack of vendor transparency raises doubts about the legitimacy of the platform. A total of 113 reviews are present on the TrustPilot website, where a user expressed his disappointment with customer support.
Is it a good choice for beginners?
RevenueBot has preset settings available for its algorithms which newbies can use. Traders can subscribe to mentoring services, and a quick start menu provides step-by-step creation tools for bots.