Robofi, a platform powered by Snapbots limited, officially launched in 2021. Tortola VG, in the British Virgin Islands is listed as the company’s headquarters. The site domain is registered in San Jose, California, US. However, no information is available concerning the company’s management team.
What is RoboFi?
RoboFi is a crypto bot marketplace that offers algorithms through IBO (initial bot offering). Users can join Robofi by purchasing VICS tokens, which serve as the platform’s official governance token. You can use all of the platform’s services and features through this token. Users can invest assets into DAO Bots in order to get rewards. On top of that, RoboFi’s Bots Marketplace allows developers to offer or list their own trading bots for sale.
How does RoboFi help traders?
RoboFi users search for and select products that they believe will meet their trading needs. According to the vendor, it is up to the developer to decide on a price and it is up to the community to accept that price. To buy and sell bot tokens, you can use an exchange. Users can deposit crypto assets like USDT, ETH, and BTC into RoboFi Treasury and obtain tokens in the form of these currencies.
RoboFi main features
- The platform brings together developers and users.
- Users can make money by selling their bots on the platform.
- It is fully automated and employs decentralized trading bots.
- Traders can earn interest on their deposits by using the earn feature.
Ease of use
The website’s design is simple, with the homepage containing information on the company’s offerings. The interface, on the other hand, leads us to believe that the service requires a working knowledge of crypto. A beginner trader may find it challenging to grasp the system’s workings or uses.
The website requires users to register using their email and password. Also, they need to have a MetaMask wallet to integrate with the site. The platform also allows users to participate in Initial Bot Offering (IBO) in addition to the crypto trading bots marketplace.
The developer says that an API trading terminal will soon be operational. These products require some basic understanding of how cryptocurrencies and blockchain technology work. Therefore, you may struggle to leverage all these features if you are a complete novice. However, after you confirm your account, you will still need a wallet before you can even look at the robots.
Once a user has signed up, the platform does all of the work for them. On this software, support and resistance analysis is used in almost every trading strategy.
Safety and security
The seller is unclear how the bots will protect traders’ funds and accounts. However, the developer does declare that it makes use of blockchain technology, but no API keys or two-factor authentication are mentioned anywhere.
Decentralized exchanges are vulnerable to hacking and do not enable high-volume trading, which makes RoboFi a risky investment. In addition, token purchasing is an unregulated method of raising funds. It puts buyers at risk of losing all the money they invested in VICS tokens.
The seller indicates that you fill out the contact form and send an email if you have questions about the product or service.
We found a 4-star rating for RoboFi’s claimed profile on Trustpilot from 4 reviews. We’ve shared a screenshot below:
As a result of acquiring the listed bots, users can automate their trading. Many robots are available. As a result, you must pick one and request trade results from the developer. Even so, it’s still a risky bet to put money into cryptocurrency bots. If you’re not diligent or don’t know what you’re doing, the systems can still lose money.
The company has a substantial number of social media followers, with Twitter followers at 25k and about 14k Telegram members.
What does it cost to use RoboFi?
In order to use the platform, you’ll have to pay fees, commissions, and other costs.
RoboFi supported exchanges
It is possible to use both DEXs and CEXs with this vendor. The following are some of the major exchanges stated on the official website: Uniswap, Huobi, Binance, Probit Global, Kucoin, and PancakeSwap.
Deposit and withdrawal requirements
We couldn’t find any information on the platform’s website about the deposit required to use its services.
How to get started on RoboFi?
- First, select the option to register a new account.
- Enter your e-mail address and create a password in order to log in.
- You’ll get an email with the platform login information.
- Sign into your account and begin using the platform’s features.
The core team of RoboFi
The company officially launched in 2021 with the publication of its lite paper.
Snapbots Limited powers it and it is listed on DEX. Other information about the company, such as its team members, location, or phone number is not available.
Final verdict for RoboFiFinal verdict for RoboFi
Key Features:6/10 Normal
Security and Reliability:4/10 Passably
Customer Support:6/10 Normal
Public Experience:7/10 Good
- It is compatible with a wide range of DEXs and CEXs.
- Opportunities to earn from the growing crypto adoption.
- Bot creators and users can benefit.
- The company's true identity remains a mystery.
- No information about security measures.
- The website UI is not user-friendly for crypto beginners.