Bitbot is a bot that was designed to help us to trade on the crypto market. The presentation doesn’t include plenty of information about how the robot works. Anyway, we have decided to check the system out.
About Bitbot
Bitbot is an autonomous trading system (ATS) that focuses on providing solutions for high frequency trading. Codelitt, the company that stands behind this trading bot, consists of 45 team members from over 12 countries. Their headquarters is located at 4300 Biscayne Blvd. Suite 203, Miami, FL 33127. The main team members are: Cody Littlewood (Chairman), Vincent Hendrickx (CEO), Kaio Magalhães (CTO), and Vicky Jaime (C D O).
Bitbot: how does it work?
The presentation includes details about the system and how it functions. We decided to unite all available information on the list below.
- The system provides us with completely automatic trading experience.
- It’s possible to supervise the system.
- It was tested to work well.
- It can execute orders from our behalf using API keys.
- The developers claimed that the bot makes $5 every several minutes.
- Usually, the developers provide a profitability in percentage to the account balance.
- The owners decided not to explain the rest.
How to set up Bitbot?
- The bot should be downloaded and properly customized.
- We have to generate API keys and attach the system to our account.
Key takeaways
- The advisor works automatically.
- It has to handle placing SL and TP levels for every order.
- Bot development requires us to have proper trading and robot design experience.
- The trading frequency is high.
- The language of coding is Ruby on Rails.
- It has an implemented dashboard that allows us to trade trading activities.
User interface
The system delivers information through a dashboard that helps us check market conditions and manage open orders.
Trading strategy behind Bitbot
There are no details about the strategy and indicators provided.
How profitable is Bitbot?
We don’t have claims or verified trading results. It’s a con because we don’t know if the robot is profitable at all. The presentation lacks information about settings, features, and strategies, so, skipping providing trading results means that there could be something wrong.
Safety and security of Bitbot
The robot works with the real market on an exchange using API keys. So, it can’t reveal that the orders will be performed automatically.
Customer support
The developers should provide us with support. Most likely, it’s delivered via email.
Reputation
We don’t know about their reputation for sure. There is information that they have checked BTC performance for several years to understand how the symbol acts. They designed a sophisticated algorithm to be profitable. It also uses machine learning principle to manage the market well.
Bitbot reviews
The clients haven’t written reviews about the system and how it manages their account.
Team members
We don’t know what people behind creating this project. To know this, you have to ask the devs directly.
Bitbot exchanges list
There’s no list of exchanges to work with provided. It’s not professional to avoid telling visitors what exchanges the system works the best.
Bitbot pricing: is it worth your money?
The system is free. So, you can give it a try, but we personally don’t have high hopes after reading the presentation.
Bitbot review: upsides and downsides
| Upsides | Downsides |
| A download free trading solution | No team revealed |
| No risk advice given | |
| No settings explanations provided | |
| No strategy or indicator details given | |
| No paper testing reports provided | |
| No trading results available |
Bitbot review: drawbacks that cannot be ignored
Bitbot is a trading solution that can open and close orders on an exchange for us. The presentation doesn’t provide all answers about functionality and we don’t have backtest reports and trading results provided. There are no testimonials from current or former clients provided.
