Bitbot Review: Automated Crypto Trading Bot

by Forex EA Top Team
Bitbot Review: Automated Crypto Trading Bot

Bitbot is a RPA bot that specializes in high-frequency cryptocurrency trading. ATS (Autonomous Trading Systems Inc) developed it as a trading strategy that aimed to profit on market inefficiencies. This bot has Machine Learning/AI technology to stay competitive and evolve with changing markets. The algorithm uses Ruby on Rails on the backend and a few Ruby/Java microservices for its trading system. 

What is Bitbot?

Bitbot uses machine learning and past-paced trading for making profits in cryptocurrencies. It uses Robotic Process Automation that can be applied across multiple institutions such as hedge funds and banks. Various technologies such as Ruby, Java 8, and React were implemented for its production.

Price:N/A
Payment Options: N/A
Supported Exchanges:N/A
Cloud Based: N/A
Strategies: Logarithmic approach

Is it easy to use Bitbot?

With its AI and machine learning integration, the bot can automate available opportunities, analyze them, and execute profitable transactions. There is no documentation or guidance on how to get started with this bot, which makes it hard for beginners to comprehend its true functionality. The vendor has not provided enough details about the installation and working of this algorithm. 

Main features of Bitbot

From the information available on the platform, here are some key features of Bitbot:

  • RPA

It uses Robotic Process Automation (RPA) used by many hedge funds, institutional investors, and investment banks. With the automation, several exchanges are scanned in seconds. 

  • Algorithmic trading approach

The bot uses an algorithmic trading approach to increase profits by capitalizing on specific recurrent inefficiencies in the market.

  • Neural networking

Bitbot is suitable for neural and fast-based trading.

  • Reputable tech

The developer used several technologies to build this EA like Ruby, Rabbit MQ, Postgres, Java 8, Ruby on Rails, React, and Docker.

  • Machine learning

Machine learning or AI tech is used for making better decisions. 

We couldn’t find any additional information about the system, such as automated settings, vendor recommendations, leverage, etc.

Strengths and weaknesses of Bitbot

StrengthsWeaknesses
Machine learning allows the bot to evolve and learn fast.There are no backtesting records for Bitbot
Built upon Java 8 and RubyThere is no information about compatible exchanges or payment methods
Functionality, performance, safety, and security are unknown

Is Bitbot good?

After looking at all the details mentioned on the website, we can say that it is not a good bot. It lacks a lot of important information about Bitbot, such as performance, functionality, safety, and security. 

Is Bitbot safe?

Bitbot does not provide any documentation about the safety and security of the bots. There is no information about API keys and privacy policy. Also, no live records are available, raising further questions on its profitability. 

Customer support

The Codelitt platform handles Bitbot, and users can reach customer service via live chat and an email given on the website. The company provides updates about its products on different social media platforms like Twitter, Instagram, Facebook. 

Reputation

Bitbot is developed and handled by Codelitt, a company based in Miami, USA. The team consists of 45 active team members in 12 different countries. Vincent Hendrickx is the current CEO, and Cody Littlewood is chairman of Codelitt. Vicky James is the current CDO while Kaio Magalhães is the CTO of the platform.

The company has not guaranteed any profits from the algorithm. There is no information about the safety and security subscription plans, which raises a red flag about the bot’s reputation. There are no customer reviews on trusted third-party platforms. 

Bottom line

The vendor promises profitable returns with its high-frequency trading feature. Our evaluation of the bot, its features, functionality, and other aspects reveals several downsides. The developer does not provide much info on the crypto bot. 

There are no insights present on its trading strategy. Furthermore, there are no verified track records for the system. The absence of info on the security measures and lack of user reviews add to downsides. 

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