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Review of Yuan Pay Group
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Yuan Pay Group is a trading robot that uses technological algorithms to automate the trading of digital assets. The robot offers the ability to trade cryptocurrencies using the soon-to-be-launched e-Yuan coin, but our team were unable to find any reliable information about who founded or operates the platform.
According to its official website, Yuan Pay Group’s robot performs trades with an accuracy of 99.4%. It also features multiple individuals that have benefitted from robot’s services, along with news coverage that appears to show prominent figures endorsing the platform. In this Yuan Pay Group review, we verify the authenticity of such claims and analyse the robot’s performance as compared to others.
Pros & Cons
What is Yuan Pay Group and what can I do with it?
Yuan Pay Group facilitates automated trading in cryptocurrency assets using technologies like Artificial Intelligence (A.I.). The robot calculates crypto trading signals using mathematical and statistical algorithms and uses those to place trades with partnered brokers.
Trades with Yuan Pay Group will be made using the e-Yuan cryptocurrency – which it claims has the potential to become China’s state-backed crypto coin. This is not confirmed yet, and it is worth noting that such a huge move might not actually materialise and the forecasted price rises would also hit a stumbling block.
The robot also offers the ability to set parameters on trading activity for expert clients – rather than just supporting fully automated trades. Yuan Pay Group’s robot scans the markets 24/7 and automatically executes trades when the specific parameters (such as the price of Bitcoin) are met.
How does Yuan Pay Group work?
According to its official platform, Yuan Pay Group partners with licensed brokers that offer margin trading in digital assets. The platform then allows users to trade cryptocurrencies in relation to the value of the e-Yuan coin – providing a form of crossover between the forex and cryptocurrency markets.
Yuan Pay Group key questions, answered!
Which brokers can I use with Yuan Pay Group?
Yuan Pay Group is associated with regulated brokers supporting CFD trading in cryptocurrencies. These brokers do not offer to trade in actual digital assets, but you trade with contracts representing assets like Bitcoin and e-Yuan. Our research indicates that EuropeFX is one of the brokers associated with Yuan Pay Group, but the exact brokers used are not specified.
What cryptocurrencies are supported on Yuan Pay Group?
The robot offers services of automated trading in prominent cryptocurrency assets including:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Ripple (XRP)
- Bitcoin Cash (BCH)
- Cardano (ADA)
Can I use Yuan Pay Group on mobile and desktop?
Yes. You can use Yuan Pay Group on any operating system from desktop or laptop. It does not have a mobile trading application, but you can access the robot’s services from a web browser with internet connection on Android or iOS smartphones.
Can I trade assets with leverage?
Yes. The broker partners offer margin trading with CFD instruments in crypto assets. Contracts for Difference (CFDs) allow users to buy contracts of an underlying asset without actually owning them and profiting from the price difference. While the Yuan Pay Group website does not mention the leverage ratio, external resources suggest that leverage of 1:1000 is offered by the brokers with which Yuan Pay Group partners. In other words, you can trade 1000 times the amount you have available.
Please note that trading with leverage is quite risky. As crypto prices are volatile, sudden downward spikes can put your capital at risk. Hence trade in small amount, do not use high leverage, and gradually practise.
Can I open long and short positions with Yuan Pay Group?
Yes. You can open long and short positions on Yuan Pay Group as it offers margin trading in digital assets. You simply need to program the robot by setting parameters to follow a desired trading strategy.
In trading, a long position is when a trader bets that the price of an asset will move upwards within the specified duration and a short position is when a trader bets that the price of an asset will move downwards in a specified amount of time.
What are the payment methods and withdrawal/deposit limits?
You have to make a minimum deposit of $250 to start trading with Yuan Pay Group. The current methods available for deposits include credit/ debit cards, Visa, Mastercard, Skrill, PayPal, Wire transfer, and SEPA transfer.
Currently Yuan Pay Group does not place any limits on withdrawals. You can place a request for withdrawals without any limitations on time duration. These withdrawals take 24-48 hours to be credited into your bank account.
Are there any costs and fees involved?
No, Yuan Pay Group’s official website states that using the robot is absolutely free. However, while registration is free, our research indicates that users might need to pay a commission charge to brokers for accessing their services. The robot simply places trades automatically, but it is likely the brokers on which it executes trades will apply small fees.
How do I get paid? What about payouts?
Firstly a trader needs to fill a withdrawal form in the trading dashboard. You have to verify your banking details and also ensure that you have completed procedures for KYC and AML guidelines. The payouts will directly be credited into your mentioned bank account.
There are no withdrawal limits specified by Yuan Pay Group, and you can even select daily withdrawals if you want. It is worth noting, however, that at this stage you will have to supply ID documentation.
What is the registration and verification process?
The registration process on Yuan Pay Group is easy. You need to fill a signup form with all your details including name, phone number, and contact address. After you have completed your verification process, you can start to access different features like demo trading or enable live trading. However, the services of using this robot are not available in all countries – so check before signing up.
You will not have to complete any KYC (Know Your Customer) process or submit your proof of identification at the time of registering on Yuan Pay Group. But you will have to comply with these guidelines before starting to trade through the broker, and will likely need to provide such documentation if you’re withdrawing funds.
What is their customer service like?
Yuan Pay Group provides 24/7 customer service access to all its verified users. The available methods to contact include a phone number, email, and live chat. There is a contact form available to fill prior to registering on Yuan Pay Group, but response times are much slower than with registered members.
Is Yuan Pay Group legit?
Yuan Pay Group does offer trading services in crypto assets, but its official platform makes misleading claims. The robot’s website has a sleek design and promises that e-Yuan looks set to rise to $5,000 a coin when China embraces it as a state-backed crypto coin – but neither of these things are guaranteed to happen and are pure speculation regardless of Yuan Pay Group’s claims.
The Yuan Pay Group trading bot partners with regulated brokers to offer crypto trading services. But it makes bold statements of having a trading accuracy of nearly 100% is simply not true. Also, it showcases misleading front covers of Forbes magazine appearing to endorse the robot’s services. The finance magazine has not endorsed the platform in this way.
Users should use the robot for functionalities like demo trading and setting trading parameters – but do not rely on the crypto bot’s claims of generating $10,000 in profits every day. You should always conduct your own research before using Yuan Pay Group.
Has Yuan Pay Group been recommended by celebrities or appeared on TV?
As with many cryptocurrency robots, there have been rumours of prominent celebrities using Yuan Pay Group. Our research found that these stories are false and we couldn’t find evidence to support any of the claims.
Below we have fact-checked the claim that three notable celebrity figures have used or promoted Yuan Pay Group.
Is it true that Shark Tank endorsed Yuan Pay Group?
No, Yuan Pay Group has never been featured on the show Shark Tank. This is an American television show that features entrepreneurs making business presentations to a panel of five investors or “sharks,” who decide whether to invest in their company.
Fact check: False. We found out that Shark Tank has never mentioned this robot, and its founders did not pitch the ideas to the panel of ‘Sharks.’
Is it true that 50 Cent uses the Yuan Pay Group website?
In a number of external websites, it is claimed that 50 Cent uses the services of Yuan Pay Group. 50 Cent is an American rapper, actor, television producer, songwriter mostly known for his hop music industry contribution.
Fact check: False. There is no evidence that 50 Cent has ever used or endorsed the Yuan Pay Group website.
Has Nicole Kidman publicly recommended the platform?
Nicole Kidman has never used Yuan Pay Group. Nicole Kidman is a famous actor, singer, and producer who has played roles in movies like The Hours and Batman Forever. She has also won prominent awards including an Oscar, two Emmys, and five Golden Globes.
Fact check: False. Invezz could not find any connection between Nicole Kidman and Yuan Pay Group’s crypto robot.
How to trade with Yuan Pay Group
Yuan Pay Group partners with regulated brokers to offer trading services. This means that all your trading activities are conducted through the broker’s trading dashboard. You can monitor your trades, your past trading history, your deposits, withdrawals, and your trading parameters from the control panel.
To start trading, users need to complete the registration process and become verified members of Yuan Pay Group. Here are the steps you need to follow to open an account:
How to open an account with Yuan Pay Group
- Step 1: Registration. Complete the registration by signing up through the website. Provide your name, email address, and contact number in the sign up form. You do not have to submit any documentation at this point.
- Step 2: Deposit Funds. You can make a minimum deposit of $250 in the trading robot’s dashboard to start using its autotrading services. You can also access its demo feature to acquaint yourself with the platform.
- Step 3: Trade. The robot starts analysing indicators like news pieces to derive upon the near future market trend. A seasoned trader can use these parameters combined with their personal strategies to enable manual trading in digital currencies such as e-Yuan.
Our top robot trading tips for beginners
You need to take factors into consideration while trading in crypto markets instead of solely depending upon the robot. Crypto markets are volatile and require thorough research from your side to place trades. 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 must understand the different risk mitigation strategies that need to be deployed to protect against volatility in prices. This includes setting stop loss and daily trades to minimise your losses.
- Understand cryptocurrency space. You must also understand the functionalities of trading in the space of digital assets. The market of cryptocurrencies works differently than traditional financial markets, and can be more volatile. Never invest in something you don’t understand.
- Practice with a demo account. Start practising with a demo account, if it is available. A demo trading account helps you get familiarise with crypto trading space without the risk of losing money.
- Start small and build gradually. Practise by trading in small amounts, learning insights from your mistakes, and build your portfolio gradually one step at a time.
- Only invest what you can afford to lose. The golden rule of trading: only invest what you can afford to lose. Markets can be volatile and losses can come as easy as profits, so don’t risk money you couldn’t live without.
Yuan Pay Group offering automated and manual trading in digital assets has mixed reviews on external websites. The platform’s website hosts misleading claims about the future prospects of e-Yuan and endorsements that Yuan Pay Group has received, so treat its marketing claims with caution.
While it tries to find profitable trading signals, it does not have a success rate of nearly 100% as claimed on its website. You cannot make millions of dollars in profits simply by spending 20 minutes for trading.
The best way to use Yuan Pay Group is to aid it in your trading strategy. You can set your trading parameters to open and close a trade. The crypto bot monitors the market and executes the trade at your predefined criteria without any intervention, and if you believe in the future of e-Yuan as a cryptocurrency then this robot could be useful to you.
Trading cryptocurrencies should be treated like any other form of investment: you should always do your research before risking your capital. This is valid even while using Yuan Pay Group or any other robots, such as Bitcoin Superstar or Bitcoin Code.
Yuan Pay Group is a software that provides cryptocurrency trading services, but it will not make you rich overnight as it claims. The website makes a number of assertions about the future price of e-Yuan and how it will help you make money effortlessly – but these claims should not be believed and investing in crypto markets always requires research and dedication.
Yes. It is relatively simple and easy to register on Yuan Pay Group. You need to fill its sign-up form and complete the verification process. You do not have to submit any identification proof at the time of registering. Please note that the robot does not offer services in all jurisdictions. You may not be able to sign up if it does not provide services in your country.
No, withdrawals from Yuan Pay Group are in fiat currency. Yuan Pay Group partners with brokers that offer services of CFDs in cryptocurrency trading and users withdraw their funds from these platforms. As these brokers trade using CFDs, payouts are processed by bank transfer in fiat currency.
With respect to enabling automated trading in cryptos, yes, but it also promotes its product with unverified testimonials, false claims, and deceptive methods. Yuan Pay Group presents itself as a major economic company within China, but this appears to be a result of marketing and not a reflection of reality.
With respect to automating trades using advanced algorithm software in digital currencies, yes but you cannot generate thousands of dollars in profits through Yuan Pay Group. The robot has partnered with brokers offering services of CFDs in crypto. It passes crypto trading signals through an API and the broker in-turn executes the trade in order to help users trade e-Yuan for other cryptos.
Its official website states that the platform is absolutely free to use. However, our research states that this may not be entirely true. This is because, while the robot my be free, you will likely incur trading fees on the broker(s) it partners with.
Before deleting your Yuan Pay Group account, ensure that you have withdrawn your funds from the trading account. After the funds are credited, you need to place a request to delete your Yuan Pay Group account from the robot as well as the broker’s platform.
It is not clear. Yuan Pay Group’s official platform has no details on the team or founders that created this crypto bot. During our research, we found that a number of claims are being speculated on people who developed Yuan Pay Group. But there is no substance behind these claims and the identity of its founder remains unknown.
Fact-checking & references
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