The newest addition to the crypto trading bots world is Jet-bot. It was launched in 2020 and quickly gained positive reviews from its many users.
We will be discussing some of the outstanding features and its merits.
What is Jet-Bot?
Jet-Bot is a software that automates crypto trading. Its goal is to dramatically reduce the time and effort required to do crypto trading every day.
Day traders often keep their 9-to-5 jobs so it is important for them to be able to fit in their crypto tasks within a short time. This is done by crypto automation software or bots. They execute a set of commands that scan the market for lucrative deals and grab the chance to seal the deal as soon as it appears.
Jet-Bot offers several aspects of cryptocurrency bots and strategic approaches for managing cryptocurrency exchange management as part of its offering.
Top Recommended Platforms
Cryptocurrency assets are volatile in nature. Buy and trade at your own risk.
73% of retail investor accounts lose money trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Trading with financial instruments carries high level of risks that is not suitable for all investors. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks involved.
Trading with financial instruments carries high level of risks that is not suitable for all investors. Before making any investment decisions, you should seek advice from independent financial advisor to ensure you understand the risks involved.
The classic crypto bot builder is simplified and has pre-set features that users can mix in a specific order.
A bot that is less customizable has a higher chance of being mismanaged. Therefore, it is important to accommodate beginners by sacrificing some of the more advanced features.
Jet-Bot, on the other hand, hosts a marketplace for bots, where more experienced veterans can rent their scripts to make a portion of the profit. Regular users can also conduct “copy-trading”, which basically runs someone else’s script. This approach does not require any prior experience or coding knowledge. Caveat? Caveat?
This is Jet-Bot’s story. The devil is in the details. Let’s get a better picture of things.
Getting started with Jet-Bot
It is very simple. Go to www.jetbot.com first. Click ‘Login’ to register on the website. You will see a login page where you can enter your password and email address. You can also sign up using your Telegram, Facebook or Google account.
To verify your account, the platform will send you a link to your email address. The platform will then ask you to link the account with your Telegram. Your account will be created successfully once this is completed.
Next, connect your Binance account with Jet-bot. You will need your API key, secret key, and Binance account number to do this. Next, create your bot. You can choose to use demo, futures or spot as its scope of operation. Finally, enable Telegram’s alert system to receive updates on your bot strategies.
How do you use Jet-Bot?
Jet-Bot is cloud-based, so you don’t need to set up, install software, or maintain a device to run it. This is especially important for those with limited IT skills and time, and lowers the entry barrier to Jet-Bot.
The interface is very simple and intuitive.
Each metric, indicator, or feature has its own spot on the menu. Even rookies can most likely learn the ropes quickly. Bot builder features are pre-designed, assembled and coded from scratch. This makes the entire endeavor more like a jigsaw puzzle than programming. This is intentional because casual traders are often reluctant to learn programming.
Coding is only for big brains, right? Riiiight? The copy-trading option to rent someone’s code is also 100% possible.
You can actually do it without having to learn about crypto trading. You can become an investor rather than a trader. However, betting on winning horses can bring small profits but large investments that could lead to catastrophic losses. This is something everyone should be aware of before they engage in further.
Pricing
Jet-bot offers four pricing options. These are:
- BINANCE BROKER PLAN: $9 per month and includes one futuresbot and one broker account.
- BEGINNER PLAN: $39 per month and includes a spot bot and a futures bot as well as an exchange connection.
- BASIC PLAN: Available for $59 per Month and includes two spot and two futures bots as well as two exchange connections.
- EXTENDED PLANS: This plan is the most costly, at $89 per month. This package includes 10 spot bots and ten futures bots as well as ten exchange connections.
Coinpayments is a cryptocurrency payment provider that accepts payments in BTC, ETH and TRX. A yearly bill will get you a 30% discount.
Supported exchanges
This is bad news or at least semi-bad information. A crypto bot’s effectiveness is dependent on its integration in the global crypto market. Jet-Bot only supports Binance as a cryptocurrency exchange.
Jet-Bot was able to obtain a Binance Broker Program, which allows it to be an official broker on this platform.
The program claims to offer a faster API sync speed. This is a questionable claim at best, and lies at worst. However, it makes opening a Binance account via the platform simple with just one click.
Pros and Cons
| Pros | Cons |
| It allows copy trading for its users | Only Binance exchange supported |
| It is simple to use and has an intuitive interface | |
| To test the platform, users can get a free three-day trial | |
| Account creation is possible without the need for KYC or credit card | |
| You can build your own bots and create your own strategies |
Conclusion
It works wonders, even though it doesn’t require any coding or trading knowledge. Is it a huge flop in crypto?
The answer is somewhere in the middle . Although the software provides basic functions, it can still be described as “average”. Jet-Bot is too young to be discarded or taken seriously as a gem in the rough.
However, it is not recommended. It has some flaws that are obvious right away, including low customizability and poor integration with crypto exchanges.
There are many more hidden treasures that the young community may not have yet discovered.
Our final verdict is that it is better to stick with tried and true options. These include Quadency and Bitsgap.
