What is Crypto Genius and what can I do with it?
Crypto Genius is an automated trading platform that uses Artificial Intelligence and algorithms to retrieve potentially profitable trading signals. It then uses this information to place trades automatically with partnered brokers. According to its official website, Crypto Genius uses a set of 22 fundamental and technical indicators to predict the price movements of a cryptocurrency asset.
Crypto Genius also offers the feature of manual trading to expert traders. With this, traders can manually specify trading parameters for a particular asset (e.g. to buy Bitcoin at a certain price). The robot then scans the crypto market 24/7 and executes the order of the trade as soon as the conditions are met. This allows experienced traders to carry multiple trades at a much faster pace and at their desired conditions without constantly monitoring the markets.
Is Crypto Genius legit?
Crypto Genius does offer automated trading services in cryptocurrency, forex, commodities, and indices using a set of indicators, algorithms, and technology. However, contrary to the statements on its official website, a trader cannot generate a profit of $1000 daily without any trading knowledge or efforts.
Its official platform also claims that Crypto Genius’ software has won trading awards from the US Trading Association. However, our team could not find any evidence behind it and it seems this is a fake marketing promotion – as also seems to be the platform’s supposed 99.4% accuracy.
Experienced traders should also not solely depend on the robot. They can access the robot to use its services of manual trading and backtesting.
How does Crypto Genius work?
Crypto Genius partners reputable and regulated brokers that offer the services of cryptocurrency trading and other instruments. After analysing trading signals, Crypto Genius sends instructions to the partner broker platforms using an API. The broker executes this order to open or close a trade automatically, with no need for human intervention.
Crypto Genius key questions, answered
Which brokers can I use with Crypto Genius?
According to its website, the brokers partnered with Crypto Genius are regulated and adhere to the guidelines of KYC and AML. They are not listed, but some of the platforms that have partnered with Crypto Genius could include UFX and 24Option.
What cryptocurrencies are supported on Crypto Genius?
The robot offers trading in prominent crypto-assets including:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Ripple (XRP)
- Basic Attention Token (BAT)
In addition to cryptocurrency assets, the robot also offers trading in instruments of commodities like Gold, indices like Dow Jones, and forex currency pairs.
Can I use Crypto Genius on mobile and desktop?
Yes. Crypto Genius’ software is accessible from any OS on a desktop or laptop. The autotrading bot does not have a mobile app, but you can access it from a mobile browser. Please note that the accessibility might be more convenient on a desktop than on mobile.
Can I trade assets with leverage?
Yes. The associated brokers of Crypto Genius enable leverage trading with CFD instruments in crypto and other assets. The official platform does not give details on the leveraged amount, but our research suggests that leverage up to 1:1000 can be found.
Always remember that trading with leverage is risky. While profits can be maximised, the losses are also exponential. In other words, you have the risk of losing not only your profits but also your capital.
Can I open long and short positions with Crypto Genius?
Yes. You can use margin trading to open long and short positions with Crypto Genius. A long position refers to a bet placed by the trader that the price of an asset will increase. In reverse, a short position is a bet placed by a trader that the price of a particular asset will decrease.
What are the payment methods and withdrawal/deposit limits?
To use services of Crypto Genius, a trader needs to deposit a minimum amount of $250 in the trading interface of the robot. To deposit, the methods available include Mastercard, Visa, Skrill, Neteller, and PayPal.
The robot does not place any limits on withdrawals and a trader may withdraw whenever they want. The withdrawal amount is directly credited into your bank account and may take 24-48 hours.
Are there any costs and fees involved?
Not directly with Crypto Genius. The trading robot’s platform states that there are no fees or hidden commissions involved in using its services. But, although not stated, you will be required to pay a charge towards each trade that you carry out on the broker’s platform.
How do I get paid? What about payouts?
Payouts are carried out from the trading dashboard. You have to fill a form and submit a request for a withdrawal amount. The withdrawal gets directly transferred to your bank account. Please note that for carrying out payouts, you have to fill your bank details and submit relevant proof of ID.
What is the registration and verification process?
The process of registration is easy and fast. For registering as a member on Crypto Genius, simply fill out the signup form with basic details including your name, phone number, email address, and country of residence. A verification link will be sent to your email address and contact number. Once you approve, you can access the trading dashboard.
The associated broker platforms will then require you to complete KYC and AML processes in order to start trading. At present, the services of Crypto Genius are not available in all countries, and you may be told after signing up that trading is not available in your location.
What is their customer service like?
Crypto Genius offers 24/7 customer service to its users. Before registering, you have the options of live chat and contact form. However, our team could not get any attendee to respond on live chat. After registration, you can get in touch with their customer service through email, phone number, and live chat.
How to trade with Crypto Genius
Crypto Genius has a user-friendly trading dashboard on which you can access different options from the control panel. From the dashboard, you can also view all your open trades, your winning trades, and your profits. The dashboard also incorporates the broker’s platform on which your trades are placed. You can initiate a withdrawal request or deposit amount by clicking on the broker.
The trading interface further gives you the option to switch between a demo account and live trading account. You can use the demo account to understand the schematics of trading as well as autotrading with a robot.
To access the cryptocurrency robot services, here are the steps for opening an account with Crypto Genius:
- Step 1: Registration. To use Crypto Genius’ services, you have to first register on its platform. This requires filling a form with your basic details of name, email address, phone number, and country of residence. Verification links will be sent to your email address and phone number. You can register and become a verified member within 30 minutes.
- Step 2: Deposit Funds. A minimum deposit of $250 needs to be made in order to begin autotrading. Alternatively, you can also use the demo account feature from the trading dashboard to familiarise with trading on Crypto Genius.
- Step 3: Trade. A trader can either simply turn on the autotrading option through the dashboard or opt for manual trading. With autotrading, the robot finds potential opportunities and execute trades on your behalf. An expert trader can opt for manual trading and enter trading conditions of opening or closing a trade in a particular asset.
Our top robot trading tips for beginners
A beginner should understand cryptocurrency trading space before trading, even with a robot. You should also not rely on the claims made by the robot and instead, carry your own research and due diligence before beginning to trade. Here are some of the tips that should be taken into consideration before using a robot for cryptocurrency trading.
- Familiarise yourself with trading. A beginner should understand how cryptocurrency investments work. You must research different risk mitigation strategies including how to set stop loss and daily trades to minimise losses.
- Understand cryptocurrency space. Never invest in a market you don’t understand. Trading within the cryptocurrency space is still relatively new. The prices are susceptible to volatility and even a small difference in prices can result in huge losses with leveraged trading.
- Start with a demo account. It is advisable to start trading on a demo account first. This way you get familiar with crypto trading and also with the robot without risking your capital.
- Start small and build gradually. Start trading in small amounts rather than going big the first time. Build your trading portfolio one step at a time.
- Only invest what you can afford to lose. Remember that the claims that users make $1,000s a day with Crypto Genius are completely unverified. There are no ‘sure things’ when it comes to trading. Trade carefully and gradually.
Crypto Genius facilitates automated and manual trading in cryptocurrency, forex, commodities, and indices, but the trading bot has mixed reviews on external sources. While the robot provides automated trading services, a trader should not be only dependent on the robot with the intention of generating thousands in profits.
The robot also uses deceptive marketing techniques. Claims of affiliations with celebrities, or having won investment awards are wholly untrue. In addition to this, the testimonials of users who have generated fortunes in a short space of time are very hard to believe and should be treated as such.
Experts can use this manual trading option of Crypto Engine. This enables them to execute trades at a faster rate and without the need for constant monitoring of market conditions. However, even expert traders are advised to carefully invest and research on various features of the robot before selecting it.
Overall, do not solely rely on the cryptocurrency robot and instead carry your own due diligence.