WOLFBOT is an automated cryptocurrency trading software that can access more than 600 markets. It is an open-source software sold by a company we don’t know much about. On the official website, there are no contact details.
The vendor has shared a contact form using which you can send a message to the service team. However, we don’t know where the organization is based. In this WOLFBOT review, we shall be looking into the various aspects of the system in order to determine whether it can be trusted.
The presentation on the official website consists of a long list of functionalities, along with the exchanges supported by WOLFBOT. We also have the descriptions for the trading schemes that this crypto bot uses for dealing in crypto. On the website, you can also find the link to a Discord channel and an FAQ section that will help you set up the software program.
WOLFBOT scans the market on a 24/7 basis. It is a cloud-based system, so you don’t need to perform any installation, configuration, or maintenance. All you need to do is select the trading schemes that suit your trading style. This crypto bot also lets you backtest and optimize the schemes using archival data. You can test several timeframes and market scenarios in a simulated environment prior to investing real money.
This crypto trading tool also has a trade book that records all the real-time orders. It is possible to categorize the entries based on strategies, currencies, and dates. This way, you can keep a close eye on your performance. The system sends you notifications on your phone whenever there is a trading opportunity. You get to know about the technical indicator parameters as well as the rationale behind each order. Each trader has the option to manually adjust the open position without affecting the algorithm.
The system predicts the price of crypto assets with the help of machine learning principles. You can enter different types of data into the network based on which the crypto bot will build a model. It supports three distinct modes, namely trading, arbitrage, and lending. This crypto trading bot also helps you find the parameters for your trading schemes using genetic algorithms and Cartesian products.
With WOLFBOT, you can deal in futures contracts on various assets. This makes it possible to insure or hedge your positions in exchange for a fee. The exchanges supported by this crypto trading system include Kraken, BitMex, Binance, Bitfinex, Bittrex, Poloniex, and Okex.
The idea behind WOLFBOT
We don’t know what the organization behind WOLFBOT stands for. Since cryptocurrency is such a revolutionary technology, many companies have mission statements on their websites. These statements tell customers what the company plans to do in the future and what greater goal it has. Since WOLFBOT does not have a motto as such, it just comes across as a service trying to make money out of crypto traders.
We have no available information on the team members working for WOLFBOT. The vendor has not revealed the identities of the key people in the organization, and this is not a sign of a reliable service provider.
Safety of WOLFBOT and the network
Every crypto trading tool should protect sensitive user data. This is why crypto traders want to make sure there are adequate security features on a system before investing in it. Unfortunately, the vendor has not elaborated on the safety features of WOLFBOT. This makes it a risky investment.
There are three distinct pricing plans for this crypto trading system. The 1-month plan costs $90, while the 6-months and yearly plans cost $480 and $700, respectively. With all the plans, you get a dedicated cloud instance of WOLFBOT. You also get access to unlimited trading pairs, strategies, indicators, and plugins. Moreover, you can trade on all exchanges and get premium support.
We were unable to find any user reviews for WOLFBOT on trusted third-party websites. This indicates a lack of reputation and it is evident that not many crypto traders are using this system right now.
Is WOLFBOT a legit investment service?
Our verdictOur verdict
- The system supports multiple trading modes
- Lack of vendor transparency
- Advanced security features missing
- No customer reviews