Estimated reading time: 9 minutes
In this article, we will review Botcrypto, a trading service founded in 2017 that offers the creation and customization of trading bots. They are incubated at SEMIA, a startup incubator located in Strasbourg, France.
They have won multiple startup awards and are supported by the French public investment bank (Bpifrance) in 2020.
Table of contents
- Summary (TL;DR)
- Why use CryptoTrading Bots?
- How to Get Started with Botcrypto?
- Botcrypto Store
- Botcrypto Review: How to create a strategy?
- Types of Blocks
- Botcrypto Review: Backtesting
- Botcrypto Trading Bots
- Botcrypto Trading contests
- Botcrypto Review: User Experience
- Botcrypto Review: Security
- Botcrypto Pricing
- Botcrypto Customer Support
- Botcrypto Review: Pros and Cons
- Botcrypto Review: Conclusion
- Frequently Asked Questions
- Botcrypto offers the creation and customization of trading bots.
- The Botcrypto store provides more than sixty pre-built strategies for beginners.
- You can create your trading bot without coding using drag and drop editor.
- Backtests allow you to try strategies on past data.
- Trading Contents help you to learn from fellow traders using virtual accounts.
Why use CryptoTrading Bots?
For trading in crypto, you need a proper understanding of the market. You must act quickly on the right opportunities because they don’t last long.
Trading bots are software programs that help you act on these opportunities at the right time using predefined algorithms. These algorithms are customizable according to your need. They automate your trading experience. These bots are deployed on the cloud and trade 24/7 on behalf of you.
How to Get Started with Botcrypto?
- Go to Botcrypto and create an account.
- You can choose a strategy from the Botcrypto store or create one using the visual editor.
- Try your strategy with a backtest.
- If you are happy with the results, then take a subscription and start it for real.
If you have a strategy, you can also share it with the community.
On clicking a strategy, you can view all the related information such as short description, visual flow, number of times it has been imported, and Botcrypto note.
You can see an example of the flow diagram for “ eBuy & Sell 1m -5% Stop-Loss strategy”.
Botcrypto Review: How to create a strategy?
Botcrypto allows you to create strategies without code using the visual editor. To create a strategy, you need to click on “Create New Strategy.” Then using drag and drop, you can add blocks.
Types of Blocks
- Start and Terminate
- Technical Indicators – They support more than 20 indicators. You can check the complete list here.
- Trailing stop – To maximize percentage loss relative to bot’s gain.
- Take Profit
- Gain – A percentage gain relative to the first trade or the most recent trade.
- Wait – The period which the bot must wait for before taking the next action. It can be one minute, five minutes, fifteen minutes, thirty minutes, one hour, two hours, four hours, six hours, twelve hours, and a day.
- Group – They host multiple nodes. There are types of groups, ‘AND’ and ‘OR’. To get validation using ‘AND’ groups must meet all the conditions and anyone condition for ‘OR.’
- Fear and Greed Index (FGI) is a sentiment indicator for multifactorial crypto market sentimental analysis. The value ranges from 0 (Extreme Fear) to 100 (Extreme Greed).
- Trigger by webhooks. It does not allow more than a call per minute. You can read the detailed guide on how you can configure them.
- Action blocks – They are Buy and sell blocks. You can configure the following parameters according to your need.
- Order Type – Limit or market order.
- Trade – They allow you to manage simultaneous positions.
- First – It starts a new trade if there is no current trade; else, you have to open an order to close the first current trade.
- Open – To start a new trade, open an order.
- Last – It starts a new trade if there is no current trade, else you have to open an order to close the latest trade.
- All – It starts a new trade if there is no current trade, else you have to open an order to close each current trade.
After adding your blocks, you just need to link them with arrows. Click on validate strategy, and your strategy is ready!
Botcrypto Review: Backtesting
The backtesting engine allows you to try your strategies using past data. You have to select the strategy name, exchange, pair, and volume.
Additionally, you can use the preset feature to save time during backtesting. It helps you to update the parameters mentioned above automatically.
Above all, it shows you valuable metrics such as trades executed, unrealized and realized profits, win rate, and average profit per trade.
Botcrypto Trading Bots
A TradingView widget shows the actions your bot is performing in realtime. You can start, stop and manage your bot anytime. Additionally, you can also create manual orders.
They allow you to configure notifications on a Discord server (or every service supporting webhooks).
Botcrypto Trading contests
Botcrypto organizes several competitions per year. They use virtual accounts, so everyone can participate without risking losing something. It’s a perfect place to learn to trade with other traders. And most of the time, there are cryptocurrency prizes at the end.
Botcrypto Review: User Experience
Botcrypto provides a user-friendly interface. The website supports English and French. And dashboard contains the summary of all your trades.
Botcrypto Review: Security
Your funds are stored in the respective exchanges. Botcrypto uses API keys that are encrypted with state-of-the-art security (AES-256) to connect to exchanges. They don’t need or want withdrawal rights. API keys).
They do not use Google Analytics or other invading trackers. Matomo, an open-source analytics tool, is used instead.
Additionally, they also support two-factor authentication, but it is not mandatory.
Botcrypto offers three paid plans and one free plan.
|29.99 €/month359.88 €/year||59.99 €/month719.88 €/year|
|Backtests||Unlimited up to 1440 candles||Unlimited up to 5760 candles||Unlimited up to 7920 candles||Unlimited up to 10080 candles|
|Access to the API||Complete access||Complete access||Complete access||Complete access|
|Incoming webhooks (TradingView signals and more)||One||Two||Four||Eight|
|Notifications||Discord, Slack||Discord, Slack||Discord, Slack||Discord, Slack|
Additionally, they offer a professional plan with customized features and no ceiling. You can do so by contacting them.
Botcrypto Customer Support
You can write to them at [email protected]. The website supports live chat. You can also call them at +33 7 56 98 92 67
Botcrypto Review: Pros and Cons
- Easy-to-use interface
- No installation required
- Free backtests and simulations
- Strong community
- Learn to trade courses
- Create Strategies with a visual editor
- Limited exchanges are supported.
- Limited strategies are available in the Botcrypto store.
Botcrypto Review: Conclusion
Botcrypto allows you to create and personalize trading bots. It helps you to automate your trading strategies without coding. The visual editor has a drag and drops editor with technical indicators, webhooks, take profit, trailing stop, wait, and more.
You can get risk-free instant feedback using backtests. The platform is secure. If you are a beginner, there are numerous resources from which you can learn. The trading contests help you learn from fellow traders using virtual accounts. Additionally, they have a very active and helpful community.
Frequently Asked Questions
Botcrypto allows you to create and personalize trading bots without code using a visual editor. Backtesting allows you to test your strategies using past data. The platform is completely secure. Additionally, if you are a beginner, there are of a lot of learning opportunities.
If you don’t know how to trade but want to, you’re at the right place. Botcrypto provides pre-built strategies for trading bots, educational content, and a helpful community. You will be able to learn very fast and start creating trading bots.
Botcrypto supports more than 20 technical indicators like RSI, MACD, Ichimoku clouds, Bollinger bands, (exponential) moving averages, Vortex, Fear and Greed Index, and more.
Your funds are stored in the respective exchanges. To connect to your exchange accounts, Botcrypto uses API keys. They don’t need and don’t want withdrawal rights. API keys are encrypted with state-of-the-art security (AES-256).
Botcrypto does not provide a mobile application. Though, you can access the website through your phone. The webhook notifications help you to get notified on the go.
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