WealthyBot enables trades to automatically trade cryptocurrencies 24/7 searching for favorable conditions in the market. Currently, it only supports two exchanges such as Binance and Binance US. The platform offers a free simulator for testing the strategies, and a Telegram group provides support and training for new users. We will look into the bot’s features, profitability, safety, and security of this algorithm to determine if it is a secure and reputable system in 2022.
What is WealthyBot?
WealthyBot is a cryptocurrency trading bot that uses USDT or Tether as the main currency for dealing. It follows two strategies as WealthyBot trader setting and the up/down approach and allows investors to trade only nine trading pairs: Bitcoin, Ethereum, BNB, EOS, LTC, HNT, BCH, ETC, and REP.
How does WealthyBot help traders?
WealthyBot uses USDT Tether as a trading currency and requires a minimum deposit of $150 in exchange and $25 as credits used for fees. The bot scans the market and places orders based on two strategies: buy/sell medium prices instead of high/low and sell the position near the indicated profits’ percentage.
WealthyBot main features
The website lacks a section where it explains the main features of WealthyBot. Some characteristics of the trading bot include:
- It has a free simulator enabling traders to test their bots before starting live trading.
- The platform provides tutorials for new users.
- Traders can configure the available strategies according to their trading needs.
- The bot trade 24/7 and uses API keys for linking with the exchange.
Ease of use
The platform is simple to understand and does not require any complex configurations or settings. You can start by signing up and trying the simulator for a better trading experience. It provides help and tutorials about the robots’ working.
The following settings can be customized according to your trading requirements:
- Trading pair
- Cryptocurrency exchange
- Market selection
- Minimum profit percentage.
Safety and security
WealthyBot connects to Binance using API keys, and there is no information on the website about the security of assets or data protection. We are unsure whether the API keys are encrypted. The absence of a safety policy raises concerns about the platform’s validity.
Customer support at WealthyBot is available through the Telegram chat group and live chat handled by Secret Energy. Traders can report an issue with their bots on the website, and there is documentation on the website for further assistance.
There is only one review present on a reputable platform, TrustPilot, where a customer wrote that Wealthy support a few crypto exchanges and does not verify the account.
WealthyBot does not guarantee profit from the trading bots and recommends users test their algorithms and strategies with a simulator before investing. There are no backtesting records on its website, and a lack of customer reviews raises concerns about its authenticity and reputation.
What does it cost to use WealthyBot?
WealthyBot is not available monthly or annual subscriptions but charges a 20% percentage on profits. Traders should have a minimum of 20 EUR on their credit accounts.
WealthyBot supported exchanges
WealthyBot allows traders to trade on only two compatible exchanges such as:
- Binance International
- Binance US
Deposit & withdrawal requirements
The platform requires a minimum of $150 in your Binance account and $25 as credits for live trading. The bot is unable to trade without having the proper funds within the portfolio. It lacks withdrawal information and recommends not to give withdrawal rights when connecting API keys.
How to get started on WealthyBot?
WealthyBot is ready for trading by following these steps:
- Register by creating an account
- Create a Binance account and fund it with USDT
- Link API keys and add the credits used to pay the bot’s fees
- Create a live trader from the settings and fill in the exchange, market, and trading approach details
- Launch the bot and start trading
The core team of WealthyBot
WealthyBot fails to provide information about the developers and team of experts. The website does not mention the whereabouts of the company. The lack of vendor transparency raises concerns about the safety and security of the platform.
WealthyBot Crypto BotWealthyBot
Vendor transparency3/10 Bad
Customer reviews3/10 Bad
- It is free to buy and connect with your exchange
- Traders can test their bots with a free simulator
- It charges commission from the profits
- The platform shows a lack of vendor transparency and company background
- It is not available in various countries
- Currently, it only supports two exchanges