WealthyBot comes with a detailed user guide on educating traders on its usage. The platform supports crypto trading on respective exchanges and has a Telegram group where investors can conversate and share their success. We will review the service in our article and detail all of its features with potential benefits and demerits.
WealthyBot features a single trading algorithm that trades funds on your exchange when favorable conditions. The platform is accessible via a desktop dashboard and requires credits to start trading. The EA uses two strategies
- Up/down. It will sell a position where the profit reaches a certain amount set by the trader.
- WealthyBot. This game plan uses the moving averages to find the medium point between the current high and a low. Traders may not be able to predict the exact time of long or short trades with this strategy.
The features of this bot include:
- A free simulator is available to test out the system
- Only takes a modest percentage of profits
- API keys are kept private
- Telegram chat available to ask questions
- Simple tutorials to help you get started
- A user dashboard to manage your dealings
How does it work?
Traders can use the platform by connecting their exchange with the bot using the API key. They must have funds in USDT.
Sufficient credits should be available in the WealthyBot account for profit sharing purposes.
The bot currently supports only Binance as a major cryptocurrency exchange.
How does WealthyBot stand out?
Traders can perform simulated paper trading to see if the algorithm offered by the exchange is profitable. The setup is simple, and live support is available via Telegram to answer all of your inquiries.
Best for: automated trading
WealthyBot is best for beginners who are looking to automate their strategies. There is no need for coding, and after connecting the exchange with the bot, the whole process is fully automated.
The platform does not have any fees. Credits are necessary to be added onto your WealthyBot account for the algorithm to start trading. The credits are non-refundable in any case. Profit-sharing is capped at 20-80%, the first being in favor of the developers.
How safe is WealthyBot?
The developers state that the API keys are stored in your system and, therefore, the trading is completely safe. It only has trading rights.
The developers keep us blind in terms of their whereabouts and market experience. The only means to contact them is through the Telegram account, and there is no live chat support available.
There is only one customer review present on TrustPilot, which is not enough for us to calibrate the general viewpoint of customers. The trader writes that the platform does not support several exchanges, which is a drawback. The customer support is slow to respond to their connectivity issues.
Is it a good choice for beginners?
As mentioned before, the platform is a good choice for beginners as it does not require any coding skills. Traders simply have to connect their exchange to start using the service. There is a detailed guide available on connectivity and usage.