The Cryptosoft app is among the oldest and most popular bitcoin robots today. This robot was founded in 2014 and became popular during the crypto boom of 2017.
It’s going viral in 2020 thanks to the anticipated crypto boom of 2020/2021. Some of the users who traded with this robot in 2017 allege making up to $1 million in profits. The potential is higher this year due to the anticipated bitcoin halving event.
But is the Cryptosoft software really legit? We have investigated Cryptosoft, and it appears to be legit. Do not sign up with Cryptosoft before reading this review to the end.
Is Cryptosoft the right trading tool for me?
Cryptosoft is an easy to use robot made for all types of traders, including complete beginners. You do not require any skill or knowledge to trade with it.
This Cryptosoft review explains the technicalities behind this robot. The trading lingo used here should not scare you away from this robot. You do not need to understand it to trade with this robot successfully.
The cryptosoft app appears to be best suited for traders with a high-risk appetite. This robot allegedly generates enormous profits, but it also comes at a risk. It seems that at least 10% of those who trade with this robot lose money.
When trading with a robot, always take extra precaution by starting small and applying all the provided risk management tools. The Cryptosoft software provides Stop Loss and Negative Balance Protection features to help users manage risk.
You can get started with this robot with an investment of 250 USD only. This is a great opportunity given that most robots in the same category require a minimum deposit of up to 5000 USD.
Cryptosoft gives users exposure to the crypto markets without having to hold the underlying asset. This eliminates the tedious and highly risky buying and holding process.
What is Cryptosoft?
Cryptosoft is a crypto trading app founded in 2014 by a team of engineers and crypto traders. The robot trades CFDs on major cryptos including BTC, BCH, ETH, and XRP.
A Contract for Difference (CFD) is a financial contract that pays the differences in the settlement price between the open and closing trades. Crypto CFDs speculate on the volatility of cryptos relative to other cryptos and fiat currencies.
Popular CFD pairs traded with Cryptosoft include BTC/USD, ETH/USD, BTC/EUR, and ETH/GBP. You can also trade crypto to crypto pairs such as BTC/ETH, BTC/XRP, ETH/XRP, and many others. Cryptosoft allegedly gives traders exposure to nearly 60 crypto CFDs pairs.
The robot collaborates several brokers to provide trading conditions, execute orders, and handle transactions. Among the trading conditions is leverage of up to 3000:1. Leverage refers to a loan provided by the broker to help traders take bigger positions.
With a leverage of 3000:1, the Cryptosoft app users can trade crypto worth up to $3k for every dollar of invested capital. Cryptosoft alleged returns of up to 400% daily are partly justified by the high leverage. It is important to note that the high margin also magnifies potential losses.
Never invest more than you can afford to lose in a trading robot that trades on such high leverage.
How does Cryptosoft work?
Cryptosoft trades on behalf of users with a supposed ROI of up to 400% daily. But what makes this bot have such a high profitability rate?
Firstly, the Cryptosoft app can conduct both technical and fundamental analysis with an alleged accuracy level of above 90%. Fundamental analysis involves studying qualitative data for tradable insights.
Qualitative data in trading include asset-related news and announcements. Cryptosoft is equipped with Natural Language Processing technologies to enable it to read and understand human language. The robot can read news and execute high-quality signals microseconds before the markets can react.
The supposed accuracy and high speed play a huge role in ensuring the alleged profitability. Very few robots can match Cryptosoft in speed and supposed accuracy. The high speed also applies in technical analysis, which involves a study of thousands of trading charts to predict future price direction.
A combination of technical and fundamental analysis enables the Cryptosoft app to capitalize on hundreds of trading opportunities daily. The potential to make the said profits increases with the number of trades placed daily.
Cryptosoft partner brokers seem legit and well-regulated. Regulation is essential since it is a mark of commitment to operating in transparency. Regulated brokers are required to observe strict reporting measures.
Moreover, they must segregate and insure deposits. These regulatory measures ensure that clients’ money is safe even if the robot or the partner broker was to go bankrupt.
How to trade with Cryptosoft
Trading with Cryptosoft shouldn’t be a challenge if you can read and follow instructions. The robot comes with a nine pages guide to help you set up a trading account and make the first trades.
You must go through the guide before starting a trading session. Moreover, the Cryptosoft app offers a highly intuitive demo to help you practice risk management strategies. The demo trades on real-time data and hence simulates real market conditions.
Make sure you trade a demo before going live. The Cryptosoft platform will assign you a dedicated account manager to help you learn how to operate the robot fast.
You should visit their website and register a free account on their homepage. Registering an account with Cryptosoft is easy and only takes a few minutes.
Ensure that you register with your real name as it appears on your government-issued identification card to avoid problems during ID verification. You should also submit a working email and phone number since this is what you will use for multi-factor authentication.
The Cryptosoft platform handles all user data in strict confidentiality. They are compliant with stringent data safety regulatory measures and have 128-bit platform encryption in place.
A deposit of $250 is enough to open an account and trade with the Cryptosoft app. You can only access the web-trader with not less than this amount.
This robot works with brokers that support account funding through Visa, Master Card, WebMoney, Neteller, Skrill, and bitcoin. Other methods may apply depending on the matched broker.
There aren’t any deposit or withdrawal charges with Cryptosoft partner brokers. Moreover, deposits facilitate almost instantly.
The Cryptosoft demo account trades on real-time data. Consequently, it simulates real market happenings and hence gives users a clear picture of what to expect in live trading.
You should not start a live session before practising with the demo. Demo practice helps you familiarize with the functionalities of the live account and hence avoid costly mistakes during live trading.
On top of the demo, the Cryptosoft platform provides a 15 pages e-book to help traders master the basics of risk management. You must peruse the guide before starting a live trading session.
Managing a live account should be a piece of cake after practising with the demo. Click the live trading button and set risk per trade in line with your trading expectations.
You should leave the risk settings at default if still not sure of how to go about risk management. However, ensure that you toggle the Stop Loss and Take Profit buttons. Please note that Cryptosoft Negative Balance Protection feature kicks in automatically.
Cryptosoft trades volatility and therefore, the best time to run it is when crypto prices swings are high. This is mostly between 8:00 AM to 4:00 PM ET or when trading is happening at NYSE. This stock exchange tends to be a key driver of crypto volatility given the billions of dollars of crypto-related derivatives traded there.
Cryptosoft is said to have a return of up to 400% but also comes at significant risk. At least 10% of those who trade with this bot experience losses. We strongly advise that you approach it with caution by only investing what you can afford to lose.
Is Cryptosoft legit or not? The Verdict!
The Cryptosoft app seems legit given its investment in trading technology and regulated brokers. It also appears to be well revered by users given the high ratings on ForexPeaceArmy and TrustPilot.
We can confirm that this bot is beginner-friendly and has measures in place to protect users’ data. You can try Cryptosoft using the link below and let us know how you find it in the comment section.
Is Cryptosoft legit?
Cryptosoft seems legit, given that it operates in collaboration with high-quality partner brokers. These brokers are stringently regulated to safeguard users’ funds and data privacy.
Is Cryptosoft profitable?
Cryptosoft has a supposed ROI of nearly 400% daily. Some users claim to make thousands of dollars daily from an investment of $250 only.
Can I withdraw from Cryptosoft?
Yes! Fill the withdrawal request form on Cryptosoft funds management dashboard and wait for funds to reflect in your bank account.