Reverse Grid Bot is a system that mainly allows cryptotraders to sell their coins at higher rates and purchase them at decreased rates. The reverse grid concept is akin to the normal grid principle. Both utilize the bot to purchase low and sell high to carry out arbitrage within a particular price range. The main factor that distinguishes them is the unit used to compute revenue. Unlike the grid approach that uses the “quote currency” to measure the system’s profit, reverse grid focuses on the “base currency.” Now that you have a basic understanding of how this product works, let’s evaluate its other features.
Reverse Grid Bot features
The bot has incorporated several features that can help you in trading cryptos. We have listed them below:
- Trigger price – this is a price that activates the creation of a bot order.
- Stop loss – the bot order closes automatically and every quoted currency that the bot holds is changed to the base currency when this price is reached.
- Take profit – the system closes the bot order automatically and all quoted currencies held are changed into the base currency when the currency price decreases to reach the take profit price.
- Slippage control – regulates the deviation of the initial opening price and the closing trading price.
- Grid mode-Arithmetic – ensures that the price gap of every grid is the same (for instance, 1,2,3,4).
- Grid mode-Geometric – this makes sure that the price range of every grid is proportional (for example, 1,2,4,8)
- Investment-ETH Only – this feature is used to develop the reverse grid bot for the ETH/USDT trading pair.
- Investment-Both – this allows you to invest in both ETH+USDT cryptocurrencies simultaneously to build the reverse grid bot.
The idea behind Reverse Grid Bot
The devs hatched the idea of creating this bot after realizing that there was a need to reduce the cost of holding cryptocurrencies. So, you may use the system to open a reverse grid using the currency at hand when you ascertain that the market is about to fall. Then, sell the currency at a higher price, and purchase it back when the price reduces. This will constantly shake arbitrage and decrease your holding costs.
The core team
This bot is part of the 16 built-in trading bots by Pionex, a cryptocurrency exchange platform. Unfortunately, information on the team that services this platform has not been divulged. Subsequently, we can’t tell who the founder or CEO is. Neither is it clear the kind of professionals it works with and how many they are.
Safety of Reverse Grid Bot and the network
The vendor has taken several security measures to ensure that your data and coins are safe while utilizing this product. These include data encryption, information access authorization controls, firewalls, and physical access controls to the data centers.
The vendor claims that traders’ money are kept on safe exchanges such as Huobi and Binance, allowing you to benefit from security features offered by these trading platforms. The company has also acquired an MSB license by FinCEN, a sign that it has been recognized as a safe site.
Information on how to activate the reverse grid is available. The process is understandable and easy to follow. First, you need to open the pionex.com website and sign in to your account. After that, find the “reverse grid” on the right side of the web page and then click “CREATE” to enter the parameter setting page. Then you are done.
We are afraid that the Reverse Grid Bot does not have any customer feedback. Sites like FPA or Trustpilot do not feature any testimonials relating to this system. Therefore, we don’t know if traders are using it or whether they are benefiting from it.
Is Reverse Grid Bot a legit investment service?
Our verdictOur verdict
- The network is secured
- The bot is being offered for free
- The team members are unknown
- Lacks user testimonials