BOTS is an application that gives everyone the opportunity to enter the world of investments. It is a platform developed by the technology company BOTS, which has focused on a new way of making investments, the automated one. The real operators of the application are the bots, algorithms that guide the investment strategies.
What is BOTS
The BOTS app allows those who do not have specific skills in this field to trade. Within the platform operate the “bots” which, in fact, are trading algorithms created by high-level developers. The bots will make decisions for you, decide the strategies to be implemented and allow you to make investments in a very simple way. The artificial intelligence with which they are equipped allows them to develop fully automatic learning and study the trend of cryptocurrencies. Anyone who wants to jump into the world of trading and investment can do so without having too specific skills and experience in the field.
How it works
The application can be downloaded for free from both Android and IOS systems. Once the account is created, you are on the main screen and can enter the different sections of the platform. On the dashboard you can check the action of the bots, their performance and their results. In the Discover section you can get daily updates on the bots, to evaluate new ones and discover which ones are more in line with your preferences. On the other hand, by entering your personal profile you can see your entire transfer history and change various settings, such as your preferred payment method.
How to Invest with BOTS: How to do it and Which Cryptocurrencies it Supports
For the time being, BOTS focuses only on bots acting in cryptocurrency trading. The cryptocurrency market is the best performing market for BOTS’ structure at the moment, although it is possible that it will expand to other markets such as stocks, forex, bonds and investment funds in the future.
Firstly, you need to download the app, register and verify your account. The minimum deposit to be able to start investing is 50 euros. In the dashboard the bots will appear and you proceed to choose the one you think is best, you can scroll through the various bots and get more information about each of them. The choice of the algorithm will have to be evaluated according to risk, return and type of cryptocurrency. You can check the daily, weekly, monthly and yearly performance of your investment and by scrolling down you can view information about the market, ROI and risk.
To start the bot just click the dedicated button at the bottom of the screen, you must click the “start” button and select the amount to deposit at the beginning. In case you want to stop the bot’s activity instead, you will just need to press “stop” in the dashboard, at this point the balance remains in the available funds and you can choose whether to get it back or reinvest it using a different bot.
Security and Compatibility
From the point of view of security and privacy, the application is part of the financial market, so it must follow very strict rules on the privacy of user data. The application in any case respects all security standards. Regarding the security of trading with algorithms, it is important to underline that there is no investment that is totally risk free. The possibility of losing exists but, in general, it is less than an investment made autonomously. The risk is further reduced if you invest with the help of several bots together.
In general we can say that the risk/reward ratio with bots is better and in the application the bots are ranked according to how risky they are, with various levels ranging from 1 to 12, based on the results obtained in the past by the various bots. As for the users’ funds, these are stored at the BOTS foundation Custodian, which is considered a safe trading environment.
Costs and Commissions
Downloading the application is free, however, the initial 50 euros are required for the bot. In addition to these, however, there are other fees, specifically of three types:
- Transaction fees 0.2%: equal to 0.002x the value investment per transaction.
- One-time entry commissions 0.2%: given by 0.002x your investment.
- One-time exit commission: in case you want to withdraw the balance given by 0.0015x amount withdrawn.
- In case you want to invest on BOTS with a business account you will need to request a code and pay an additional amount of 65 euros.