Pionex is an automated trading robot that claims to let you catch every tiny profit-making opportunity in the market. It is a 100% automated system that functions round the clock. Pionex review has been featured in reports released by top media sites like Bitcoin.com and Bloomberg.
This system has been built by a company known as BitUniverse that is based out of Singapore. We don’t have the contact details on the official website, but according to a Bloomberg report, it has 100K monthly active users and a $5 Billion trading volume.
On the official website, the vendor has outlined the key features of the system. The superior earning capability of the robot has been highlighted, along with the fact that it has been recognized by reputable third parties. We also have some customer reviews that have been written on third-party websites, along with an FAQ section.
This is a grid trading bot that places multiple buy and sell orders daily. The robot automatically buys low and sells high to make profits, provided the current price remains inside the price range. It uses the fluctuating condition of the market to generate steady profits.
The amount of money you need to invest with this robot depends on your trading strategy and the cryptocurrency you’re investing in. A few of the bots available on the website can be used with a low investment of $20. The vendor has not mentioned any details on how to deposit and withdraw funds using this system, which is a bit disappointing.
It is a system that decreases the average buying price as it attempts to buy the dip. The vendor also claims that even if the price of a security drops, the robot can recover the losses suffered via the grid profit.
The Idea Behind Pionex
Pionex is a part of the new generation of crypto companies aiming to provide regular people with easy access to crypto trading. It provides them with liquidity from several exchanges and using its algorithm you can place trades 24/7. This is not something that every brokerage out there is willing to offer.
The Core Team
The founder and CEO of BitUniverse, the company behind Pionex, is Chen Yong. This person is based in Beijing and he launched Pionex back in 2019. He is also the co-founder of Cheetah Mobile Inc. has ample experience in crypto trading. We don’t know anything about the other members of the team and what kind of experience they have.
Safety of Pionex and the Network
This crypto trading bot has got the Money Service Business license from FinCEN. It has a prominent presence in Binance, one of the topmost cryptocurrency exchange platforms, and by aggregating the liquidity from Binance and Huobi, it assures the security of your funds. Pionex also keeps a full reserve that can be withdrawn at any time, if necessary.
Being a liquidity provider for major crypto exchanges, Pionex is able to offer crypto trading for a low fee. For each trade you make, you only need to pay a small fee of 0.05%. There are different withdrawal fees for different coins, with the ones for Bitcoin, Ethereum, and Cardano being 0.0005 BTC, 0.005 ETH, and 1 ADA, respectively.
We came across several customer reviews for Pionex on the Trustpilot Website. Many of them are negative, and the total rating on the website is 3.1. Here, we can see a customer complaining that the bot crashes, upon which it is impossible to close it. They have also mentioned that the vendor does not provide adequate support to users. Another user has mentioned that their account balance is decreasing in spite of the robot stating that they are receiving money.
Our VerdictOur Verdict
- Recognized by top-notch media
- Licensed by FinCEN
- No information on team members
- Negative customer reviews
- Lack of information on withdrawal and deposit methods