Cryptotrader for Beginners: An Exhaustive Review of Features and Functions

Cryptotrader operates as a cloud-driven trading platform that leverages various features trading bots and streamlines the trading process through automation.

This platform offers algorithmic trading options aimed at delivering cloud-based solutions for both seasoned cryptocurrency traders and those just stepping into the space.

Users can select bots employing different strategies, ranging from aggressive, short-term gain tactics to more cautious, long-term approaches.

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CryptoTrader Overview

The team at Cryptotrader has developed a user-friendly website, though there's scant information available about the team or their locations.

Nonetheless, it's managed by Algocraft Ltd, and the platform allows users to deploy automated strategies using a flexible scripting language modeled on CoffeeScript.

Members are able to trade Bitcoin and other cryptocurrencies without the need for any specific software installations, as bots operate continuously within their VPS cloud, 24/7.

The platform includes a comprehensive suite of utilities, like backtesting capabilities to enable virtual market trials. Once ready, traders can jump to live trades with robots.

Cryptotrader collaborates seamlessly with 13 prime cryptocurrency exchanges such as Binance , Coinbase , and Huobi and offers a subscription model empowering users to pick a plan that aligns with their needs and trading objectives.

Key Features

• Accessibility – Existing as an online platform, Cryptotrader’s trading bots are run in the VPS cloud, needing no software downloads.
• Tool Variety – The site offers a vast assortment of testing facilities, letting users trial and rerun their trading strategies. Strategy templates span from the basics to multi-pair trading and EMA crossover, simulating bot performance across disparate historical conditions.
• Exchange Connectivity – At present, Cryptotrader works compatibly with 13 notable exchanges such as Binance, Bitfinex, Bitstamp, Bittrex, CEX.io, Coinbase, Huobi, Kraken, Poloniex, and Quoine.
• Innovative Technology – The platform provides an API for integration with added exchanges and enables developers to create complete trading algorithms. Via historical data, traders can employ scripts encoded in CoffeeScript, offering a chance for skilled programmers to craft bespoke bots.
• Marketplace Integration – Users can interact with a marketplace for trading strategies, purchased and sold within the community. Top strategies are often crafted by seasoned traders.
• Support and Assistance – Reach out through the Contact section on their homepage, or connect on Twitter. Subscribers receive email alerts, SMS updates, and forum access for discussions.

How to Sign up for Cryptotrader

Opening an account is easy—hit the “Sign in” option, then select “I want to register”.

1) Create an Account

Fill in your country, email, and password to get registered.

Activate your email with the link provided and unlock access to your control panel.

2) Set up your Account

From there, explore options to enhance your account to a premium level subscription plan leveraging live trading or backtesting enhancements. Opt to rent, buy or design a trade strategy while browsing trade pairs from enlisted exchanges.

3) Select and Test a Trading Strategy

Peruse the Strategy Market, featuring strategies detailed by cost and popularity standing. Coders can develop their own strategies by using source codes found here.

To backtest effectively using past market figures, insert code into the editor through the backtesting tool. Adjust settings using the top form as needed.

Press the ‘Backtest’ button, and after the run, review the log detailing all algorithm-induced trades.

Produce an API key and secret within your exchange account. Hit ‘Run’, input API credentials into the configuration, then click ‘Start’. Bot instances should emerge post-linkage. here The bot’s activity is logged in this generated location.

CryptoTrader Pricing

Available are five pricing tiers, valued monthly in Bitcoin (BTC) from 0.0042 BTC to 0.0653 BTC. Payments are also possible via Litecoin (LTC). Each plan includes alerts and backtesting among other attributes like:

Basic+

• From 0.0042 BTC per month
• 1 live trading bot
• $1000 trading account equity limit

Regular

• From 0.0059 BTC per month
• 3 live trading bots
• $5000 trading account equity limit

Pro

• From 0.011 BTC per month
• 5 live trading bots
• $20,000 trading account equity limit
• Margin trading / short positions

VIP

• From 0.0209 BTC per month
• 10 live trading bots
• Limitless equity trading account access
• Margin trading / short positions
• Priority support

Premium

• From 0.0522 BTC per month
• 25 live trading bots
• Limitless equity trading account access
• Margin trading / short positions
• Priority support

Besides, some strategies are freely available, with others up for renting. Premium strategies can be sorted by exchange support, rent fees, and accompanied by full guidelines. Higher-rated popular strategies tend to be pricier.

Evaluating Cryptotrader: Is It Accessible for Novices?

Cryptotrader offers straightforward usability with no software or plug-ins needed. Access the platform online, fully cloud-run with bot operations conducted via the VPS cloud.

A comprehensive amount of community-generated material exists, like instructional videos on setting up bots and connecting APIs to your chosen exchange.

Novices can access strategy tips meeting their trading aims, backtest methods, and grasp expectations. Registration provides Forum access rich with insight, enabling dialogue with more experienced users.

The Community Forum serves as a springboard for members eager to devise personal trading tactics.

Beginners in automated trading can acquire strategies from Cryptotrader’s professional-crafted marketplace, albeit popular bots are paid and need plan subscriptions. Higher plan upgrades unlock more bots and capital.

Aspiring strategy developers need programming knowledge for utilizing Cryptotrader, which supplies a Developer University and full API details.

Is Cryptotrader a Scam?

Scarce data exists online about the creators; still, Cryptotrader's user base and community interactions on Reddit and Bitcointalk provide insights into platform utilization.

As a service, Cryptotrader never holds direct control over your funds. Trades happen via API, leaving direct fund deposits unnecessary—protection through access restriction holds trades, not withdrawals.

API key generation on exchanges is necessary, minimizing bot access to needed-only trade permissions—precluding unauthorized fund removals amid possible security breaches.

For security enhancement, start conservatively with bots; single-bot use per exchange is wise to avoid resource conflict. Advanced plans allow multiple bots, solved by subaccounts in exchanges like Bitstamp and Poloniex.

Data privacy gets top priority—the team commits to confidentially using personal details and emails for in-house operations, with no third-party sharing.

The platform's policies include instant discontinuation of accounts linked to spam or illicit activity, without notice or refunds. Members are reminded that shared source codes maintain intellectual ownership, though public content remains unremovable.

Conclusion

Cryptotrader is intuitive in use, enabling algorithmic trades via various plans and bots—follow and benefit from these automated aids.

Integrated with major exchanges, it functions on a cloud foundation, where newcomers can start minus software installations.

Consequently, users don't need to be tech-savvy to dive in quickly, using the vast array of training and support resources provided. Yet, novice traders should be prudent, conducting thorough bot testing before deploying them, and opting for cautious strategies with smaller sums when ready to transition to live trading.

While the platform is fairly simple to use, it comes with its own pitfalls. For starters, there's limited transparency about the team behind it, which may hinder trust, and the customer support features fall short when stacked against similar services. Presently, users must rely on email requests, whereas other platforms actively utilize Telegram, live chats, and social media to engage and inform their community.

Moreover, despite the abundance of information, the website itself is sparsely designed, compelling prospective users to sign up before accessing lists of supported exchanges and cryptocurrency trading pairs, as this data isn't typically open to public view.

Nevertheless, Cryptotrader remains user-friendly and sees considerable popularity, offering a range of accounts that cater from small-scale investors to major institutional players. It enables seasoned programmers and traders to develop their own bots and market them, with rookies able to rent these bots and conduct rigorous tests prior to live application.

In conclusion, it's crucial to acknowledge that trading cryptocurrencies often involves significant risk, with no assurances on profits or returns.

Those venturing into trading should rely on widely-recognized bots underpinned by reliable algorithms. It's essential to leverage testing utilities before letting the bot handle a live trading account.

Every trader is accountable for their own experience. Cryptotrader's team is not liable for any negative consequences due to external variables or financial losses. However, the site is intuitively laid out, offering a seamless entry point to algorithmic trading, and when used with care, delivers a generally satisfying user experience.

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