Crypto Mining Blog

Three days have passed already since we have started testing out the BTC Robot automated Bitcoin trading robot, so it is time to report how things are progressing so far. Nothing much has happened since we’ve started using the software for automated trading, though we suspect that the reason for that is the current BTC market situation and the way that the trading bot operates. The fact that MtGox and Bitstamp – two of the largest BTC exchanges are currently not allowing Bitcoin withdraws due to possible vulnerability in the BTC transactions has created some chaos on the market and the exchange rate is going mostly down as a result. Even though the BTC Robot actually trades on the BTC-e exchange that has not suspended any of its operations regarding BTC withdraws or deposits and the BTC/USD exchange rate is fluctuating the robot is not executing trades on it. Even considering the fact that we’ve set the Aggressive trading option that should be more active on executing trades with a bit higher risk, but also with supposedly higher profit on success there are no trades because of the weird situation on the market. Hopefully things will get better soon and the trade bot will be able to trade properly soon, or the authors will implement a different trading strategy that will be effective even at the current market situation.

What you cannot normally learn before you purchase the BTC Robot automated Bitcoin trading robot is the trading strategy it relies on. Normally these automated trading solutions rely on some sort of market indicators such as EMA to “know” when to buy and sell to generate you profit. This solution however relies on a slightly different market indicator, it compares the current price at MtGox and compares it to the exchange rate at BTC-e to decide if it should buy or sell. The software uses three different indicators to make its decisions and they have different values for each of the preset modes you can choose from – Conservative, Medium and Aggressive mode or use your own custom settings. Below you can find the default trading settings for the three modes and in the Custom mode you can change them as you wish in order to get better results – less risk and profitability or higher risk and profitability.

Conservative:
Rmin = 0.09
Rmax = 0.12
R step = 0.01

Medium:
Rmin = -0.01
Rmax = 0.11
R step = 0.012

Aggressive:
Rmin = -0.01
Rmax = 0.11
R step = 0.02

One more important thing to note, especially if you are getting the Silver Plane where you get the BTC Robot as a downloadable software to install on your own computer as we did, instead of a version of the bot preinstalled in the cloud. You can only install the trading software on one computer as it does not checks, so do not install it on a laptop at work for example just to test it first – go directly to a dedicated computer that can be online 24/7 at your home. We have contacted the support to see if we can move the software to another computer as now we have to keep online a laptop that we installed it for a quick test running and on all the time, so this is just a bit of inconvenience, though the support helped us resolve the issue and the software has been moved on another system. Going for a cloud-based service with the other two plans will probably be much easier and problem free solution, so you better consider these.

– Check out our initial thoughts about the BTC Robot automated Bitcoin trading robot here

With the constant release of newer and faster Bitcoin ASIC miners and the increase of mining difficulty it is getting harder and harder for the average person interested in crypto currencies to mine BTC. So the alternative of making profit from Bitcoin trading instead of mining them is becoming more and more attractive to normal people and to people that are not the typical traders with experience from Forex or Stock trading. So these people, and not only they, are looking for different tools to help them in trading Bitcoins on the currently available crypto exchanges. We’ve already tested and reviewed some of the available tools, such as Cryptotrader and Butter Bot, sharing our experience and thoughts about them. We just started testing another similar product called BTC Robot that has been available for a while already, so you can expect us to start sharing our usage experience from this automated Bitcoin trading solution in the next days here on the blog.

Meanwhile we are going to talk a bit more about the product and what are our first thoughts about it after starting to use it, something that may help you understand what to expect as the website of the BTC Robot software somewhat lacks a lot of details. What we saw as information available about the software is what would be useful to people that are new into Bitcoin and all that crypto currency stuff, but want to see what the hype is all about and of course want to make some money out of the whole thing. There is not much information about where, how and what this automated Bitcoin trading bot will do and how it will trade and this is what people that are into BTC and cryptos would want to know about the BTC Robot software, before going for it. So while this trading bot may appeal to the average person it won’t seem very attractive for the people that are into crypto currency already, though this does not mean that it will not be useful for these people as well. What we’ll try to give you here is the information that you cannot find on the introductory page and you can learn only after you start using the trading software and later on, in the next few days, we’ll share our results with what trades the robot does…

In order to be able to use the BTC Robot automated Bitcoin trading robot you will need to purchase it. Unfortunately there is no trial version available that you could try, before you buy, however there is an alternative option present – 60 days money back guarantee. This means that you can try the software for 60 days and if you are not happy with the results you can get your money back, suggesting that the makers of the software are very certain that you will be satisfied by the results and keep using the software. There are three different plans that will give you access to the automated trading system. The Silver Plan that will give you a downloadable version of the software that you need to install and run on your computer available for $149 USD with a one-time license fee and no extra subscriptions or fees. We’ve got for this version of the product, but bear in mind that you would need to have it installed on a computer running 24/7 with a stable Internet connection in order to get the best possible results when the software runs from your computer. The second option is called the Gold Plan and is available for $248 USD that includes the access to the trading software installed on a VPS (in the cloud) for a one year. This means that you get access through your browser and the trading will be on all the time without having to run it on your computer and have the system on all the time, the disadvantage here is that you will have to renew the VPS service after 1 year. The third option called Platinum Plan will cost you $498 USD and will give you access to the trading software installed on a VPS (in the cloud) server three years. The Platinum plan also includes a LTC Robot, a Litecoin trading robot as a bonus, though you can also get a separate license for it as well. We may also test the Litecoin trading robot in the future if we are satisfied with the results we get from the Bitcoin trading system.

Back to the BTC Robot automated Bitcoin trading robot and what you actually get with it. As soon as you install and run it, or when you access it on a VPS server, you will get a simple and easy to use interface with the trading settings and profit and Bitcoin pricing information available. The software is designed to use the BTC-E exchange and trades only the BTC/USD exchange pair there, so you will need to have an account in that crypto currency exchange already in order to use the trading bot. In order for the robot to be able to trade you will need to generate an API key for it at the BTC-E exchange, you can find that option in the settings panel of the exchange. The only other thing you need to select is the trading aggressiveness of the software based on the risk/reward expectations you have, you can select between Conservative, Medium and Aggressive mode or use your own custom settings.

Other than that you have a graph for your balance and profit and about how the BTC exchange rate is going not only on BTC-E, but also on MtGox and Bitstamp, though the bot only trades on BTC-E. According to the developers of the software you can can make anywhere from 5% to 100% profit per month depending on the market situation and your trading settings. The more volatile the market the higher profit you can make, but if the market is flat then there could be some periods of slow action and that is completely normal to expect. Once the bot starts making trades you will see the Buy and Sell actions listed on the right under the Last Operations section, though we still haven’t seen any trades on our end, but we’ve just started using the robot.

We have started our testing of the BTC Robot automated Bitcoin trading robot with a small amount of BTC in our BTC-E account in order to get a feel of the product and in case of not seeing good results not to loose money. The trading mode we have selected is Aggressive as we are willing to risk a bit more with the chance of higher profitability, so stay tuned for more information in the next few days as the trading software starts doing some trades.

– For more about the BTC Robot automated Bitcoin trading robot and to try it out…