Forex Robots

Botsfolio Review: Is This Crypto Bot Safe and Legit?

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Botsfolio

Botsfolio is a crypto trading system that requires no coding skills to operate. It comes with ready-made strategies that require very little input from you. We evaluate the different components of this tool to gauge if it’s worthwhile or not.

About Botsfolio

Botsfolio manages your crypto investment on autopilot. It is able to place buy/sell orders on your behalf within milliseconds after identifying trading opportunities.

Botsfolio review: key features

Find below a description of the bot’s key features:

  • It scans the market 24/7 trades automatically without your involvement.
  • It’s easy to set up.
  • The bot works with 3 different exchanges.
  • It incorporates an intuitive visual dashboard to help users track their trading activities.
  • The system includes risk management intelligence to minimize losses from bad trades.

Botsfolio: trading strategy

The system works with both short-term and long-term strategies to automatically diversify your net investment. Examples of these strategies include hedged trading, scalping, futures trading, and value investing. No further details or explanations regarding these techniques are given.

Security of Botsfolio

Botsfolio usually uses encrypted API keys to connect and interact with your exchanges. The use of an API provides the bot access without putting your data at risk. In the unfortunate event that unwanted parties access your details, money will not be withdrawn from your wallet without your approval.

Is Botsfolio safe?

The bot is generally safe as it doesn’t store your money. Neither does it have any right to withdraw or transfer your coins.

How much does Botsfolio cost?

Botsfolio features 4 pricing plans, and the cost of each plan depends on the portfolio value. To manage a portfolio worth $1k-$3k, the vendor asks that you pay $4.75/month. The cost of managing a portfolio value of $3k-$10k is $9.50/month and $14.25/month for a portfolio value of $10k-$50k. Lastly, if your portfolio is worth between $50k and $100k, then you have to part with $19/month.

Deposit and withdrawal

The minimum deposit needed to activate Botsfolio is not indicated. This amount may be determined by the exchange or asset pair you are using. The bot doesn’t have any control over your withdrawals as this procedure can only be completed through your chosen exchange.

Does Botsfolio charge fees and commissions?

The bot charges a 15% fee on profits quarterly. There’s no mention of any trading commissions charged on trades. So, it is highly likely that you won’t be required to pay any commissions on profits made.

How much profit can it earn?

According to the vendor, Botsfolio is capable of making an average of 7.95% ROI monthly. The devs even provide a bar chart illustrating the system’s monthly performance. As you can see below, there are periods when the bot was very profitable, generating earnings that even surpassed the 15% mark. Unprofitable periods were quite few. However, we have to be careful with these stats because they have not been verified by an independent site.

Botsfolio’s monthly performance

Botsfolio’s monthly performance

Company reputation

The company behind this software is anonymous. The presentation doesn’t include the name of the organization, background, headquarters location, history, etc.

Botsfolio reviews

Botsfolio has been reviewed by 28 customers as we speak, and 89% of them are satisfied with the services it offers. One of the traders indicates that the system has achieved a 68% ROI on his behalf. Another one is impressed by the bot’s simplicity. Out of the 11% of unhappy clients, we found one who complains about the system being inactive for no reason. He even emailed the vendor asking for an explanation but has not received a response yet.

Botfolio’s rating on Trustpilot

Botfolio’s rating on Trustpilot

 

Negative customer review on Trustpilot

Negative customer review on Trustpilot

Positive user reviews on Trustpilot

Positive user reviews on Trustpilot

Who is Botsfolio for?

Botsfolio may be suitable for traders who desire to work with an automated trading system. The bot will take over all of your tradings after you choose and configure your chosen strategy. You don’t have to monitor it, so you are free to do whatever you want.

Botsfolio: supported devices

Information indicating the device we can use is missing. For this reason, it’s unclear if the platform supports Mac OS, VPS, Windows, or all of them.

What exchanges does Botsfolio support?

Botsfolio works with three main exchanges, namely Coinbase Pro, Binance, and OKx.

Botsfolio: customer care

The platform offers customer support via email, Telegram, and Medium. You can also read the company’s blog and visit the FAQs section to learn more about the bot and crypto trading in general.

Botsfolio Crypto Bot

4

By trading on autopilot, Botsfolio is able to conduct trades very fast, optimizing the chances of making revenue, unlike when implemented by you. All the same, the bot supports only 3 exchanges, which reduces your chances of finding room for more earnings. Worse still, the vendor will take away 15% of all the profits generated every 3 months.

  • Fairly priced
  • Positive feedback from customers
  • Works with encrypted API keys to safeguard funds
  • Easy to use
  • Charges fees on profits
  • Lack of vendor transparency
  • Few exchanges supported
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