Bot Ocean Review 2021: Is it Safe?

Crypto trading requires lots of dedication, time, and research to gain positive results. Even professional traders cannot stick to the market throughout the day. Hence, they need bots to automate their trades, so they can focus on other important things. This Bot Ocean review will help you with all the platform features, and we’ll also tell you how you can get 50% off your fees.

Summary (TL;DR)

  • It also allows you to customize the bot according to your needs.
  • You can easily connect your trading accounts on Binance, Huobi, FTX, and Kucoin.
  • Bot Ocean has different user levels like anglers and shipwrights.
  • It offers its users to utilize the Bots token and gain discounts on the platform fees.
  • You can also stake on the Bot Ocean Dapp. The more time you stake, the more you can earn.
  • Decentralized trading platforms like Uniswap and PancakeSwap help the users to participate in an open financial marketplace.

What is Bot Ocean?

Bot Ocean creates a decentralized platform to automate and simplify the trading experience of beginners and professional traders. Furthermore, the platform comprises strategy shipwrights, back testers, and exchange connections that help build a robust trading network.

Moreover, Bot Ocean‘s users can stake BOTS tokens on its Dapp platform. The platform is cloud-based and is capable of storing all the data safely. As a result, you don’t have to rely on your computer system at any point and can work on Bot Ocean remotely.

BotOcean
Bot Ocean

Bot Ocean Review: Key Features

  • The Bot Ocean is an autonomous crypto trading bot that allows its users to capture the best trading opportunity.
  • The platform provides backtesting strategies against historical data and offers the most comprehensive solution.
  • Bot Ocean is a strategy designer and provides high-quality analysis for its users. Furthermroe, it is a bots marketplace that allows you to choose the best strategies even if you don’t have the experience.
  • Bot Ocean offers a decentralized account management and payout system. 
  • It offers the users to keep a check on all their digital assets just in a single place.
  • Bot Ocean also allows you to copy the strategies of a professional trader and only takes monthly subscription charges.

How to Get Started with Bot Ocean?

  1. Firstly, sign up for an account by entering your email address.
  2. Second, head over to your profile section and connect an exchange.
  3. Select the exchange you use and then connect using your API key. Now, your account is connected to Bot Ocean, and you can start automating your trades.
  4. Thereafter, select the best strategy from the Bot Ocean marketplace.
  5. Finally, connect the selected strategy to your account, and it will automatically start trading for you. In addition, you will be able to see your performance and portfolio evolution in your Bot Ocean account.
Get Started with BotOcean
Get Started with Bot Ocean

Nots: As of July 2021, the platform is still testing its bots and is inviting BOTS token hodlers and ambassadors to join the beta program and use the trading bot.

Also, read the best crypto copy trading platforms for beginners.

Different Account Levels

Anglers 

Anglers represent the users and create an account on Bot Ocean to connect strategies to the user exchange account. However, they have to connect the exchange API keys to their Bot Ocean account and pay a tiered fee to use the bots. The Anglers are further split into a recruit, junior angler, journeyman, expert angler, and whale hunter.  

The Shipwrights

The Shipwrights represents the users who create trading strategies and publish them on the platform. They are further split into Walrus, Manatee, Narwhal, and the Thousand Tonne Beluga Whale. This different level depends on their AUM.

Bot Ocean Review: Bots Token

Bots token is the native token of the BotOcean platform. Owning a significant number of BOTS can let you get access to their Beta program. Furthermore, the token holders who pay with Bot token have a 50% discount in fees. So, the tokens used to pay the fees will instantly burn, and the token received by the strategy creators will get transferred to their wallets.

BotOcean Dashboard
Bot Ocean Dashboard

Token Features

  • Discounts on tx fees and different strategies
  • Early access to strategy index funds
  • Personalised newsletter and research reports
  • Exclusive features in analytical section
  • Membership access to Token holder group
  • Early features access
  • Option to become a governor in the DAO

How to buy BOTS?

Uniswap

Uniswap is a Defi protocol that facilitates automated transactions. When it comes to the network, Uniswap was born on the Ethereum Blockchain. For example, you can buy BOTS by swapping your ETH to BOTS using the Uniswap protocol.

Uniswap & PancakeSwap
Uniswap & PancakeSwap

PancakeSwap

When it comes to the network, PancakeSwap is built on Binance Smart Chain, a modified Etherium fork and compatible with the Ethereum virtual machines and Ethereum apps. You can swap your BNB tokens with BOTS at PancakeSwap.

Bot Ocean Review: Fees

Furthermore, Bot Ocean is a System as a Service that constitutes no hidden fees. The fees are always the same regardless of the profits you make on the platform. You have to pay a fixed monthly subscription. However, since the platform is still in its initial stages, you’ll have to pay; the team invites BOTS hodlers to try the Beta version of the bot.

Marketplace

Bot Ocean Marketplace entitles you with the benefit of selecting the best strategy. You can go to the marketplace, explore different strategies and then select the desired strategy.

BotOcean Review: Features
Bot Ocean Review: Features

Premium Signals

At Bot Ocean, you can join the most reliable crypto signals available on the market. Until now, you had to observe a couple of agencies and place trades, but now this platform can do that for you.

Join our CoinCodeCap Classic Telegram channel for Free Crypto Signals.

Bot Ocean Review: dApp 

The Bot Ocean dApp is built on ParaSwap and is a highly scalable application that allows thousands of users to stake BOTS. dApp also allows investors to earn a passive income monthly from staking BOTS. The Bot Ocean dApp will interact with ParaSwap to place trades on different decentralized exchanges. The users can also securely connect to the dApp by using the MetaMask wallet.

BotOcean dApp
Bot Ocean dApp

Also, read Set up MetaMask for Binance Smart Chain.

Bot Ocean Review: Staking

Bot Ocean Staking is a versatile staking contract for ERC-20 tokens. Staking is the technique of preserving tokens in a cryptocurrency wallet to support the operations of a community. The platform rewards participants for staking BOTS tokens. Furthermore, rewards are calculated primarily based on staking time: the longer you stake, the extra you earn.

Governance

The Ocean DAO dictates the governance system of the Bot Ocean. The token holders constitute enterprise partners and also the board that manages the marketplace. Token holders can vote on strategies to make up strategy indexes, and they will additionally have the chance to access plans earlier than other customers. The Bot Ocean board initiates all new features and platform adjustments. Once the board proposes modifications, the DAO participants then take part in a voting process.

Bot Ocean Review: Pros and Cons

ProsCons
You can customize your bot according to your needs.There are limited trading bot options.
It offers no fund custody to its users.The features are not open to all the users yet. You need to hold a significant number of BOTS to be a beta tester.
You have access to premium crypto signals.
At Bot Ocean, you can stake BOTS through dApp.
Bot Ocean Pros and Cons

Bot Ocean Review: Conclusion

The Bot Ocean platform lets freshmen within the area have similar benefits as professionals. Unfortunately, most beginners fail to stay longer in the trading market because of the complexities of formulating a winning method. Bot Ocean plans to simplify that technique and offer investors trading bots, signals, etc. Furthermore, the platform has a Marketplace for you to buy and use trading strategies. And, Dapp lets you stake BOTS to earn a passive income.

Frequently Asked Questions

How to use Uniswap?

You need is an Ethereum wallet and a chunk of ETH to use Uniswap. Popular options include Coinbase Wallet or the browser-based Metamask. Using the app browser built on Coinbase Wallet, you can access the Uniswap app to begin swapping tokens or providing liquidity.

What are ERC-20 Tokens?

An ERC20 token is preferred for creating and issuing smart contracts on the Ethereum blockchain. Smart contracts can then be used to create tokenized assets that people can invest in. ERC -20 was implemented in 2015.

Where can I buy Bot Ocean tokens (BOTS)?

You can buy Bot Ocean (BOTS) from PancakSwap or Uniswap. Then, all you need to have is Bitcoin (BTC), Ethereum (ETH), or BNB.

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