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Chainwizard AI Review 2024

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By Onose Enaholo - Updated 29 August 2024
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Fact Checked
We are aware of numerous websites which use false celebrity endorsements to send customers to unregulated brokers or call centres. Our website will only send customers to partners who have provided us with the required regulatory assurances. This is a marketing offer and our regulated partners will indicate what services they have available upon registration.

As crypto trading robots take centre stage on the global trading scene, some have distinguished themselves as reliable tools for the profitable trader. Chainwizard AI is one of such bots that is blazing the trail for others.

With a high success rate, low fees, and a fully customizable dashboard, the bot has proven to be a powerful tool in the hands of even the most novice traders.

Our Chainwizard AI review explores how the bot works, its pros and cons, and how you can take advantage of the bot’s features to make a profit.

Our Investigation Result: Chainwizard AI Seems Legitimate!

Having undertaken extensive research and investigations, we can assume that Chainwizard AI  may well be a legitimate crypto trading platform. All claims made by the platform appear to be accurate.

If you are interested in signing up for a free account with Chainwizard AI, then use the link below to get started and an account manager will walk you through the process.

Chainwizard AI Summary

Minimum Deposit $250
Fees and Commission None
Claimed Success Rate 85%
Supported Cryptocurrencies 14+
Deposit and Withdrawal Fees None
Trading Platform MT4
Demo Account Yes
Verification KYC
Leverage 500:1
Table of Contents

What Is Chainwizard AI?

Chainwizard AI is a crypto trading bot that uses advanced technologies and methods like AI, machine learning, statistical modeling, and probability to analyze crypto price data with the aim of spotting recurring patterns that influence price action.

The end result is a bot that can predict, to a high degree of probability, future price action based on recurring patterns, and as such can help traders become more profitable in the markets.

The bot also features other attributes (which we will discuss) that provide even the most novice traders with the tools they need to increase their chances of being profitable.

Who Created Chainwizard AI?

Chainwizard AI’s founders have chosen to remain anonymous; hence, little is known about them. However, we believe they are a team of mathematicians, software developers, data scientists, and traders with many years of experience, given the skillset needed to develop a bot with Chainwizard’s capabilities.

On the issue of anonymity, many crypto bot founders have chosen to remain anonymous, and while this constitutes a red flag, and we advise you to proceed with caution, we’ve found that their anonymity has not negatively affected the day-to-day workings of the bot.

How Does Chainwizard AI Work?

Chainwizard AI uses advanced technologies like artificial intelligence, machine learning, and probability modeling to predict price movement and execute profitable trades.

The process starts with ingesting large volumes of market data. The bot’s learning models are fed with tens and hundreds of gigabytes of historical market data, which include price, volume, and other data points. The more data points, the better.

Next, the models identify patterns between various data points or variables. For example, the model can spot that a significant volume move usually precedes a significant price move in the same direction.

It tests these patterns across historical data to gauge the degree of correlation. Once the pattern achieves a high correlation (80% or higher) across several years of data, the bot saves this pattern to its database.

When it spots the pattern beginning to unfold in the cryptocurrency market, it predicts the price movement based on the pattern in the context of the prevailing market condition, i.e., it doesn’t just copy-paste the strategy.

The bot then sends a notification for a potentially profitable trade or executes a trade automatically if programmed to.

Chainzwizard AI works with crypto brokers worldwide to deliver its services and trade Contracts for Differences (CFDs), financial derivatives that track the prices of underlying cryptos and allow traders to apply leverage.

Pros & Cons of Chainwizard AI

Pros

  • Platform is beginner friendly
  • Supports an extensive list of cryptos
  • Works with licensed brokers worldwide
  • Does not charge for deposits or withdrawals
  • Available round the clock

Cons

  • $250 minimum deposit may be too high for some users
  • Management structure and underlying algorithm are hidden

5 Key Features of Chainwizard AI

High Success Rate

Chainwizard AI has a claimed success rate of 85%. While it is not the highest among crypto trading bots, it is high enough to provide sustainable profits. While 85% means that 8.5 of all 10 trades should be profitable, that is not usually the case due to market fluctuations and the trade strategy used.

Extensive Crypto Support

Chainwizard AI supports up to 14 cryptocurrencies that users can trade. This is quite high among crypto trading bots as most stick to a few major coins like Bitcoin, Ethereum, Ripple, Litecoin, and Bitcoin Cash.

A reason for this is that those coins have sufficient volumes of historical market data to fully train bots’ AI models. However, Chainwizard AI’s superior algorithms can achieve high accuracy without requiring as much market data.

Demo Mode

Demo modes are important for both new and advanced traders as they provide an opportunity to test strategies against real market data before risking real cash. Chainwizard AI’s demo account is available once you verify your account and does not require any upfront payment to gain access.

Customer Support

Customer Support is on standby 24/7 through email and live chat. Users can easily access their services through a live chat feature on the account dashboard or send an email for more technical issues.

Affordable Fees

Chainwizard AI has an affordable fee structure as it does not charge fees for most of the activities that other brokers do. For example, the bot does not charge funding fees for deposits or withdrawals. Users can also execute trades without paying transaction fees.

Factors to Consider Before Using Chainwizard AI

Security: 5/5

The first consideration is security as any platform worth its salt must be secure. In this regard, we found Chainwizard AI’s security systems to be adequate as the platform implements SSL encryption and other firewalls to protect against malicious traffic and other attacks.

Chainwizard AI also encourages users to use two-factor authentication (2FA) to protect from breaches due to password leaks.

Verification: 4.4/5

Verification is important for KYC and anti-money laundering, and all users must complete the process. Hence, it is important that the process is smooth and effective. We found Chainwizard AI’s verification process to be adequately effective without being strenuous.

The platform did not ask for documents that weren’t needed, and the process took roughly 30 minutes as all our documents were readily available. To complete verification, you’ll need a valid ID and a document that displays your address.

Withdrawal Process: 4.1/5

Commonly called Payouts, the withdrawal process is an important metric of the efficiency of daily operations. Platforms that delay withdrawals tend to rank lower than those that don’t.

Chainwizard processes withdrawal requests within 24 hours of a request. The platform does not impose limits on the amount you can withdraw, although your payment provider might.

However, the platform may sometimes require extra verification before processing a withdrawal request. In these cases, you may be asked to take a picture of yourself holding the ID you used for verification.

Costs and Fees: 5/5

Chainwizard AI is incredibly cheap to use. It does not charge deposit or withdrawal fees, trading fees, account maintenance fees, or service charges. The only form of fees that it charges is in the form of markup to the spreads on trading pairs.

The spreads do not affect the cost of trading for consumers.

User Testimonials: 4/5

User testimonials for crypto trading bots are usually mixed because of the presence of scams that tend to tarnish the image of the real services. As such, we found some negative reviews that mostly pointed to any number of crypto scam sites.

However, we also found positive reviews from users who appear to have used the real product. Note that we only checked reviews from independent third-party sites like Trustpilot, not the bot’s website.

Customer Service: 4/5

Chainwizard AI’s customer service team is quite adequate. Team members made themselves available to help with our queries and issues, which we believe reflects their everyday work ethic.

However, the only available channels are live chat and email. While this is adequate for most problems, some platforms also provide phone lines.

Affiliated Brokers: 5/5

Chainwizard AI is partnered with regulated brokers around the world with a strong presence in various countries, multiple years of good service delivery, and legitimate licenses.

Note that we could not review each broker individually as that would veer our original review off course. What we stated above about the brokers is a general trend we noticed. However, you may need to research the broker you choose before signing up with them.

Deposit Methods and Limits: 4/5

Chainwizard AI has a minimum deposit limit of $250 which may be too high for some users, especially in less developed countries. The bot supports deposits with various legacy methods like bank transfers, credit card payments, and electronic wallets like Skrill.

We were able to deposit funds into our account easily. Credit card payments are the fastest method, but they tend to come with high fees, charged by the card provider, not Chainwizard AI.

Bank transfers could be cheap, but only if your chosen broker has a local account in your region. If not, bank transfers become a bit more expensive and could take up to 5 days to settle.

Electronic wallets are a great in-between, but only if available in your region.

How Does Chainwizard AI Compare to Other Autotraders?

While Chainwizard AI stands out from most bots on the market, it is not the only solution available. We understand that it is not a perfect product and as such may not have features that some users need.

This is why we have included a list of worthy competitors in case Chainwizard AI doesn’t quite do it for you.

  • Immediate Edge: Great for users in remote countries thanks to large operational reach.
  • Amazon AI Trader: Great for traders who wish to focus on the Bitcoin market.
  • Qumas AI: Great for traders who want to scalp and profit from day trading.
  • Bit Index AI: Great for traders looking for machine-learning-powered accuracy.
  • Oil Profit: Great for traders looking to profit from other markets like Oil.

Is Chainwizard AI a Legitimate Autotrader?

When measuring Chainwizard AI’s legitimacy, we took into account its partnerships, reviews, and customer service. Naturally, we would consider management structure and internal policies, however, those metrics are unavailable due to the company’s opaque nature.

Where partnerships are concerned, Chainwizard AI is partnered with major crypto brokers across the world. These companies usually do their due diligence before entering partnerships with other firms, hence a successful partnership signals legitimacy for Chainwizard AI.

Online reviews for Chainwizard AI have been a mixed bag as negative reviews due to scam sites have hurt the rankings of the real service. However, there are enough positive reviews to serve as testimonies for any willing to look a little deeper.

Chainwizard AI’s customer service is adequate. Their response time is fast enough and the effectiveness is satisfactory.

Is Chainwizard AI Safe?

Chainwizard AI implements industry-standard information security technologies and techniques to safeguard user data. The first line of defense is SSL domain encryption to secure communications between users’ browsers and the website’s servers.

The company goes one step further to keep user funds safe by using its partnership with brokers as an added layer of security. By storing funds with licensed brokers, the bot reduces its attack vectors.

Now, user funds are not at risk at any time from an attack on Chainwizard AI’s servers.

5 Reasons to Use Chainwizard AI for Trading

High Potential Returns

Chainwizard AI possesses the potential to achieve high returns thanks to its artificial intelligence tech and machine learning models. By training these models with years of data, the team behind the bot has been able to increase its accuracy level several fold.

As it stands, the bot’s claimed success rate is 85%, and while this does not imply that the bot is always right, it raises users’ chances of being consistently profitable.

Automated Trading

Chainwizard AI’s automated trading mode is the best way for new users to channel its accurate analysis and benefit from its success rate. Users can set strategies that run without much human intervention.

The mode also allows traders to free themselves, as much as possible, from the human emotions that tend to hinder growth and profitability like fear, greed, and fatigue. Once a strategy has been tested and found to be overall positive, it can be rinsed and repeated; no emotions are needed.

High Availability

Chainwizard AI is available 24/7. With a high service level agreement, users can expect the bot to be ready to go whenever they are. Traders can execute strategies at any time to take advantage of liquidity in any major market session.

Customizable Features

Chainwizard AI provides a customizable dashboard for more advanced users who may be somewhat limited by the automated trading mode’s rigid framework. Traders can create new indicators, outrightly program the bot to search for unique patterns or execute sophisticated strategies, like various forms of hedging.

Cheap Trading

Chainwizard AI is cheap to use as it does not charge trading commissions, a useful trait as the bot is capable of placing and managing multiple trades simultaneously which could accumulate to substantial fees if there was a charge per trade.

What is the Best Way to Trade With Chainwizard AI?

There is no cookie-cutter answer to the best way to trade with Chainwizard AI as the tool can adapt to various styles and rules. However, there are some overlapping rules and methods that we’ve noticed are common among successful users.

Almost all successful users start with the demo mode. This mode is great for testing new strategies as it provides an environment that grants access to real market data without risking real cash.

With the demo mode, traders refine and perfect their strategies, build discipline, and learn about the markets before getting to the live market. Of course, this ties into being patient enough to go through this process.

Once in the live market, the next steps differ based on your experience level. Advanced traders go straight to using the bot in sophisticated ways (which they would have already tested in the demo mode).

New traders, on the other hand, use the automated trading mode to run the strategies that worked in the demo mode. They monitor the bot for the first few days or hours to ensure that it works properly.

Intermediate traders can then try out new strategies in the demo mode to improve their profitability.

Has Chainwizard AI Ever Appeared On TV?

Due to the buzz around Chainwizard AI, rumors arose that the bot became popular because it appeared on various TV shows. We researched these rumors and found the truth. Our findings are below:

Dragon’s Den

Dragon’s Den is a “rumor favorite” as the show has churned out several successful businesses. Internet forums claimed that representatives from Chainwizard AI featured on the business show to solicit funding from the show’s expert-investor panelists.

Despite the show’s reputation for helping entrepreneurs scale their businesses, our research did not turn up any trace of Chainwizard AI being on the show. Hence, the rumors are false.

Shark Tank

Shark Tank takes on the premise of Dragon’s Den; a business show that features entrepreneurs who pitch their businesses (or ideas) to a panel of expert investors. The success and popularity of Shark Tank eclipsed that of Dragon’s Den (at least in the US), hence the rumors that Chainwizard AI appeared on the show.

As with Dragon’s Den, our research did not turn up any links between Chainwizard AI and the show or any of its panelists.

CNBC

CNBC is a television network known for its financial shows like Mad Money and Closing Bell. Because of the influence of CNBC’s shows, rumors arose that representatives from Chainwizard AI appeared on one of CNBC’s shows to give expert insights on the crypto market and gain positive PR for the firm.

Our research into CNBC’s shows archives shows that these rumors are false. No representative from Chainwizard AI has ever been on any of CNBC’s shows.

Has Chainwizard AI Ever Been Endorsed by a Celebrity?

Similar to the TV rumors, celebrity endorsement rumors sprang up claiming that Chainwizard AI became popular because of celebrity endorsement with business leaders. As usual, we researched these rumors.

Elon Musk

Elon Musk is an influential figure in the crypto space, and while his influence has diminished in recent times, the billionaire still wields the power to move the prices of some cryptos with tweets.

Because of Elon’s ties with cryptos like Dogecoin, some internet forums claimed that he invested in Chainwizard AI.

We researched the Billionaire’s public investment portfolio and did not find any links between him and Chainwizard AI.

Jeff Bezos

Jeff Bezos is the billionaire founder of Amazon. He once explored the idea of allowing customers to use crypto to pay for items on Amazon.

While he did not go through with this, it was enough to ignite rumors that Jeff was involved with several crypto projects, Chainwizard AI included. After extensive research, we can say that Jeff is not affiliated with Chainwizard AI in any way.

Mark Cuban

Mark Cuban is probably the most crypto-positive traditional billionaire. He has worked with NFT projects, owns some crypto-related businesses, and has advocated for the adoption of blockchain technologies.

Because of this, rumors arose that Chainwizard AI was one of the businesses he invested in. However, our research shows that this is false.

5 Tips for Using Chainwizard AI Safely and Managing Risk

Be Patient

New traders are often too quick to get through the initial setup and learning phase to make profit. They do this at the expense of the knowledge needed to achieve long-term profitability.

The best traders take the time to learn and understand the fundamentals and build discipline before diving into the live market. Even after they start trading live, they often stick to what works for a while before trying to find more profitable strategies.

Start Small

Starting small ties into being patient enough to learn the fundamentals. Until you are a master, you should be cautious with the amount you risk. Do not risk too much on a single trade or on trading as a holistic activity.

Trading should not be your path to wealth (at least not your only path), instead, it should be treated as a venture fraught with risk because it is. As such, you should start small and grow instead of risking significant funds.

Learn About Cryptocurrency

Always learn about cryptocurrency, the market, and current narratives. Doing this will help you formulate effective strategies and avoid the pitfalls that trap most traders.

The more knowledge you possess, the more equipped you are to make profitable decisions and create consistently profitable strategies.

Document Your Trades

Keeping a record of your trades does two major things:

First, it creates a record you can refer to when calculating taxes. Many countries are getting onboard legally by creating frameworks that tax gains made from crypto trading activities. You’ll need detailed records to calculate how much tax you owe under your country’s framework.

Secondly, a record of trade allows you to monitor your performance. You can clearly see if your strategy is profitable, how profitable it is, and whether it is becoming more or less effective. You can then make decisions or strategies based on the data.

Save Profits

Your discipline will be tested when profits start rolling in. You will be tempted to increase the size of your account, take on more risk, and use more leverage to increase your profit margins.

You can place your profits in a savings account. This way, you know you have a financial cushion if anything happens to your account.

Follow Expert Advice

Following expert advice can be as simple as keeping up with the news, reading research reports from trusted sources, and following the right social media accounts. Twitter (now X) is the hub of crypto social media interactions, so an account on the platform is a good way to start.

However, exercise caution when choosing who to listen to as the industry is littered with false gurus and experts who often lead their listeners astray.

We’ve found that it’s best to stick to organizations and verifiable business leaders in the space, like the CEO of a crypto-focused venture fund or the founder of an essential crypto infrastructure.

As much as possible, avoid self-proclaimed expert traders.

How to Use Chainwizard AI - Step-by-Step Guide

To begin using Chainwizard AI:

1. Register for an account on Chainwizard AI

Navigate to Chainwizard AI’s website and fill out the signup form with your name, email address, and phone number. After creating the account, you’ll be sent a confirmation email with a verification link.

2. Complete the registration form

Follow the verification link to verify your new account. Submit a government-issued ID and a document that displays your name and address, like a bank statement or a utility bill.

After verification, choose a broker. Do your research to ensure they are certified and legitimate before signing up for an account.

3. Create a trading strategy

This is where practicing using the demo mode comes in. Your strategy doesn’t need to be perfect, it only needs to work.

4. Practice using the demo account

Use the demo account to test your strategy, refine it, and get it up to an acceptable profit level.

5. Make a deposit

You need to deposit funds into your account to access a live account. The minimum amount is $250.

6. Set up automatic trading

Once you can access a live account, use the automatic mode to execute the trading strategy you refined in the previous steps.

Chainwizard AI Assets, Market, and Options

What assets can you trade using Chainwizard AI?

Chainwizard AI supports over 14 cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Bitcoin Cash (BCH). This wide range produces over 50 CFD pairs when combined with fiat and crypto.

These CFD pairs allow traders to trade in both long and short positions simultaneously, making money when the market is rising and falling.

For example, say a trader opens a $400 Bitcoin Long position at $35,000 per BTC, i.e., they bet that Bitcoin’s price will rise. If BTC’s price rises to $42,000, the trader makes a $79.64 profit. However, if the price falls to $29,000 per BTC, the trader loses $68.82.

What leverage trading options are available with Chainwizard AI?

Chainwizard AI offers up to 500:1 leverage on CFD pairs. This is within acceptable levels in jurisdictions like South America. However, it is far above acceptable limits within the US.

Leverage allows traders to increase their position size and multiply their margins without using more capital; hence, too much leverage can be dangerous especially when proper risk management is not applied.

What are the spreads on Chainwizard AI?

The exact spreads on CFD pairs are not publicly available because it varies with brokers, and Chainwizard AI works with multiple. You’ll need to check the spreads with the broker you choose.

Can I Use Chainwizard AI in my Country?

Can I use Chainwizard AI in the US? No
Can I use Chainwizard AI in the UK? No
Can I use Chainwizard AI in Australia? Yes
Can I use Chainwizard AI in Sweden? Yes
Can I use Chainwizard AI in Germany? Yes
Can I use Chainwizard AI in Austria? Yes
Can I use Chainwizard AI in Switzerland? Yes
Can I use Chainwizard AI in Denmark? Yes
Can I use Chainwizard AI in Finland? Yes

Final Thoughts on Chainwizard AI

Chainwizard AI is an AI-powered crypto trading bot that uses machine learning, statistics, and probability modeling to study crypto price patterns and predict future movements with a high degree of accuracy.

It boasts an 85% success rate overall, which means that in the long run, it generates profits for its users; it does not mean that 8.5 out of every 10 trades are successful.

The bot has a demo mode for users to test new strategies and get familiar with real trading conditions without risking real cash; however, to get access to the live market, you’ll need to deposit at least $250 using either a bank transfer, a credit card payment, or through an e-wallet like PayPal.

To get started, sign up for a Chainwizard AI account.

Review Methodology

We review crypto robots by aggregating various tests, reviews, and testimonies across the web, allowing us to give you a balanced view that accounts for multiple perspectives. Check out our why trust us and how we test pages for more information on our testing process.

We are aware that the internet is full of false testimonies: there are several purported trading robots out there that are, in fact, scams. For this reason, we find it important to compare information from across the internet in our Chainwizard AI review.

FAQs

Will I need to learn about trading to invest with Chainwizard AI?
You’ll need basic investment knowledge to understand what the bot is doing or whether your strategies are successful. However, you don’t need to acquire deep knowledge to use the bot.
How much money can I earn in a single day using Chainwizard AI?
Profitability depends on the effectiveness of your strategy and prevailing market conditions.
How much time do I need to invest?
The point of Chainwizard AI is to cut down the time needed to become successful at trading by using sophisticated technologies, so not much time. However, to become better and more profitable, you’ll need to invest more time.
How can I withdraw my profits from Chainwizard AI?
Submit a withdrawal form through your account dashboard and wait for your request to be processed. Processing time is usually 24 hours.
Can my Chainwizard AI account get hacked?
This is highly unlikely, but not entirely impossible. However, Chainwizard AI has implemented systems to protect your funds in the rare case that your account is breached due to no fault of yours.
Is Chainwizard AI endorsed by a celebrity?
Despite the rumors, Chainwizard AI is not endorsed by a celebrity.
How long will it take to sign up and verify my account on Chainwizard AI?
The signup and verification process on Chainwizard AI is easy and quick to complete. It takes less than 30 minutes overall.
Can I practice my trading risk-free on Chainwizard AI?
Yes. You can rely on the demo account to familiarize yourself with the trading bot and practice risk-free.
What does Chainwizard AI do?
Chainwizard AI is a trading robot that uses an algorithm to spot patterns in price trends and profits from them by buying and selling crypto on behalf of its users.
Is there a Chainwizard AI app?
Unfortunately, there is no native Chainwizard AI app. It is a browser-based platform that is accessible from browser-enabled devices.
Can you make money with Chainwizard AI?
Yes. You can make money with Chainwizard AI as the platform provides the necessary software and learning materials to ensure you deploy sound strategies.