What is Crypto Engine and what can I do with it?
Crypto Engine is an autotrading robot that employs technological solutions, such as AI and Machine Learning, to detect potentially profitable trading signals in the cryptocurrency market. The robot carries out fundamental and technical analysis of crypto assets to predict the price movements of specific crypto tokens. After calculating, it automatically executes the trading order without any instruction from the trader. It uses a strategy called High-Frequency Trading (HFT) to take advantage of the small price movements in cryptocurrency.
Additionally, the Crypto Engine bot also has a manual trading mode for experienced traders. Users can specify their trading parameter conditions in the platform’s interface. The robot will automatically execute a trader’s specified order at the precise conditions. This feature enables a trader to trade at their preferred market conditions without constant monitoring.
Is Crypto Engine legit?
Crypto Engine uses advanced algorithms and technological methods to predict upcoming price movements in crypto-assets,but it is dishonest about the effectiveness of its software. Its automated trading services can execute trades quickly and with no need for human intervention, but it is almost impossible to generate profits amounting to $1500 per day and this number is used simply to attract users to the platform.
Moreover, the video on the home page of Crypto Engine gives an impression of its association with leading investors. None of these figures are associated with Crypto Engine. Instead, these are unethical marketing methods to promote their product. Furthermore, the website claims to have more than 6000 registered members, but our team could not find sufficient evidence to verify this.
Beginners should abstain from trusting the promises of using the robot to generate millions in cryptocurrency trading. Even experts should tread carefully while accessing its services as the cryptocurrency markets can be unpredictable and volatile.
How does Crypto Engine work?
External sources reveal that Crypto Engine has partnered with robots that are regulated under the ASIC (Australian Securities and Investment Commission), FSB (Financial Service Board), and FCA (Financial Conduct Authority). These robots offer CFD trading in different cryptocurrency tokens.
Through the use of technology, Crypto Engine deciphers trading signals and then sends these signals to the connected brokers through an API. The broker, in turn, automatically executes the trade order upon receiving the signal.
Crypto Engine key questions, answered
Which brokers can I use with Crypto Engine?
Crypto Engine partners with regulated and reputable broker networks to offer CFD trading in cryptocurrency assets. Our research suggests that UFX and EuropeFX are some of the brokers that are partnered with the cryptocurrency robot.
What cryptocurrencies are supported on Crypto Engine?
The robot offers trading in prominent crypto-assets including:
- Bitcoin (BTC)
- Ethereum (ETH)
- ZCash (ZEC)
- Ripple (XRP)
- Monero (XMR)
- Golem (GNT)
- Status (SNT)
- Lisk (LSK)
- Bitcoin Gold (BTG)
Can I use Crypto Engine on mobile and desktop?
Yes. Crypto Engine services can be accessed through any browser on any OS of a laptop or desktop using an internet connection. While the autotrading bot does not have a mobile app, you can use its services on a mobile browser.
Can I trade assets with leverage?
Yes. The brokers partnered with Crypto Engine allow leverage trading services in digital currencies. The official Crypto Engine website does not provide details on the leverage trading options available. External research suggests that users can access leverage of up to 1:5000 with these brokers.
Please note that trading with such high leverage is very risky and should be avoided unless you’re very experienced. Cryptocurrency prices are extremely susceptible to volatility. Trading with such high leverage causes losses in huge amounts if the market falls even a little bit.
Can I open long and short positions with Crypto Engine?
Yes. Crypto Engine’s partnered brokers allow for traders to open both long and short positions. In other words, users can place trades irrespective of the market moving upwards or downwards. A trader can go long or short with the trading bot.
A long position refers to a trader’s stance that the price of an asset will move upwards, whereas a short position refers to a trader’s stance that the price of an asset will go down.
What are the payment methods and withdrawal/deposit limits?
To access autotrading services of Crypto Engine robot, you have to make a minimum deposit of $250 into your account. A number of payment methods are available that include credit/ debit cards, Wire transfer, Neteller, WebMoney, Skrill, Bitcoin, and Ethereum.
Crypto Engine does not place any limits on the withdrawal amount. You can withdraw anytime without any restriction on the minimum amount. The withdrawal process takes 24-48 hours to be credited to your bank account.
Are there any costs and fees involved?
Not directly with Crypto Engine. The official website of Crypto Engine trading robot mentions that there are no costs or fees involved while using its services. However, although not stated clearly, there is a buy and sell spread fee that a trader has to pay for each trade placed on the broker’s platform.
How do I get paid? What about payouts?
Payouts can be withdrawn by submitting a request on the trading interface to the partnered broker on which your trades are executed. You can withdraw your profit or capital anytime you want without any limitations. The amount will directly be credited to your bank account.
Please note that you may not be required to submit any identification documents at the time of registration with Crypto Engine, but you do when making withdrawals. You have to provide and verify your identification and proof of residence documents before making a withdrawal. This is because all the brokers are regulated entities and you have to comply with KYC legislation.
What is the registration and verification process?
The process of registration on Crypto Engine is easy and can be completed in a few minutes. To register, you have to fill the details on the sign-up form available on the robot’s home page. You have to provide details including your name, phone number, email, and country of residence. A verification and SMS link will be sent to your provided details.
After you verify, you can access the services of Crypto Engine. Please note that Crypto Engine is not supported in all the countries, but that you have to complete the signup process to verify if the services are available in your jurisdiction.
What is their customer service like?
Crypto Engine offers 24/7 customer service to its registered members. Prior to registration, you can contact them through a contact form available on their website. After registration, you can access their services through phone, live chat, and email.
How to trade with Crypto Engine
Crypto Engine incorporates an easy trading interface with access to each function from the control panel. From the dashboard, you can choose to switch between the demo account and live account depending upon your preference.
The trading interface gives you a brief of all your winning trades and profits. On its panel, you can review all your open trades in each asset. A trader can use the demo version to get acquainted with the cryptocurrency robot’s trading panel before risking any of their money.
To open an account on Crypto Engine, follow the steps outlined below.
- Step 1: Registration. To use Crypto Engine, fill the signup form and register as a member on the robot’s platform. If the services are available in your jurisdiction, you will be able to complete the registration and verification process in less than 30 minutes. You have to undergo the KYC process to start trading on Crypto Engine.
- Step 2: Deposit Funds. After you become a member, you will receive a call from their support team who will walk you through cryptocurrency trading and the robot’s interface. To start autotrading, you need to deposit a minimum amount of $250 and turn on the autotrading option. You can also opt for demo trading to familiarise yourself with trading using the robot.
- Step 3: Trade. If a trader has opted for an autotrading function, the robot starts finding trading opportunities and sends these signals to associated brokers. A trader can customise their settings of stop-loss, max daily trades, take profit, and daily profit to minimise risks. The manual trading option is also available for expert traders who desire to trade with their preferred market conditions.
Our top robot trading tips for beginners
It is necessary to understand how cryptocurrency markets work and the process of trading crypto- assets even if using a robot to execute trades. Never invest money in something you don’t understand. Here are a couple of tips that a trader should be aware of before selecting a robot to start trading.
- Familiarise yourself with trading. A beginner must be familiar with the schematics of cryptocurrency trading as well as market movements.
- Understand cryptocurrency space. Cryptocurrency trading differs from trading in traditional markets. This is primarily because coin prices are susceptible to volatility. It is necessary for a trader to understand the space before beginning to invest.
- Start with a demo account. Crypto Engine offers the feature of demo trading. It is advisable to start trading using the demo account feature, as this allows traders to navigate different functions from the control panel without risking any capital.
- Start small and build gradually. Invest in small amounts. Practice and build your portfolio gradually. These are the best ways to be successful in the long term.
- Only invest what you can afford to lose. Always remember that you cannot become a millionaire overnight by trading in cryptocurrency markets. Do not invest your hard-earned money and bet big. Start small and invest what you can afford to lose.
Crypto Engine robot has mixed reviews on different sources. While some members have benefitted from using the services of the robot, you should not believe all the statements made on its website. You cannot generate millions overnight using Crypto Engine, and you should be wary of any claims that you can get rich quick with little-to-know knowledge or work.
Additionally, the mentioned quotes from famous personalities are nothing but purely promotional techniques. Bill Gates or John Mcafee neither promote nor are associated with Crypto Engine in any way.
Beginners should not engage with the robot with the aim of making profits without understanding the market. Even experienced traders need to research cryptocurrency markets before beginning to trade. Experts may use this to extract features of backtesting and manual trading through the autotrading platform. Keep in mind that you always need to conduct your own due diligence and research the different functionalities of a robot before trusting it with your money.