Considering the huge returns they promise, crypto trading bots have become all the rage nowadays. Crypto Bull claims to take the automated trading capabilities of these bots a notch higher by effectively using machine learning (ML) and natural language processing (NLP) technologies. According to its website, the trading bot can help make smarter trading decisions quickly to facilitate consistently profitable crypto trades.
The bot’s creators have made some pretty bold claims related to its potential returns. We conducted a detailed review of the product to establish whether Crypto Bull can deliver on its promises and below are our findings.
There’s no mention of Crypto Bull’s developer on its official website. We couldn’t find any verifiable details about them even on third-party websites. Hence, it’s hard to determine the expertise, experience, and skill level of the people behind this seemingly popular trading bot. All that can be gauged from its site is that it uses advanced AI technologies to help traders execute potentially profitable auto trades on regulated brokerage portals. Many trading bots that use similar technologies have been attributed to scientists.
Payouts
It is claimed that Crypto Bull has a win rate of 88% and provides tenfold returns on investment. There have even been reports of users earning thousands of dollars in profits each day. However, these figures are unusually large and our careful analysis suggests that these payouts will be unachievable for most users.
Verification System
Registering for Crypto Bull is fairly simple. All you need to do is fill in your name, email address, phone number, and preferred password on the form, and an account will be automatically created for you on one of the product’s partner brokers. You’ll then need to log in to that broker website with the details sent to you via email, followed by verifying your identity through a government-issued photo ID and a separate proof of residence.
Withdrawal Process
Crypto Bull’s withdrawal process is equally straightforward. According to its official site, you’re free to withdraw any available funds, and the transaction will be processed within a few hours. There’s no withdrawal fee involved and the funds can be withdrawn to debit/credit cards or via bank transfer.
Costs and Fees
Crypto Bull claims not to charge any licence fee for its usage. Nonetheless, you’ll need to make an initial deposit of at least $250 to get started, which will be made available in its entirety for your trading activity. Additionally, there are no deposit or withdrawal fees charged. All you might need to pay is a 2% commission on your trades, which is the norm these days.
User Testimonials
Crypto Bull claims to have been generously reviewed in multiple languages by some of the popular crypto publications online. We also found a dedicated page for it on Trustpilot, a widely-recognised consumer feedback platform. The bot has received an average rating of 4.3 stars (out of 5) on the portal, with a heavy majority of reviews (95%) heaping praises on the product.
Customer Service
We couldn’t find a section or form to contact customer service on its official website. However, some of the reviews suggested that they can be easily reached after successfully registering for the bot. One can even contact the underlying broker’s customer care team for any clarifications or problem resolutions.
Affiliated Brokers
Please note, Crypto Bull is merely a software that reportedly points users towards the most profitable crypto trading opportunities, and can execute trades on their behalf. However, the actual trade execution happens on a brokerage platform to which the user is connected, based on their geographic location. Crypto Bull claims to work only with well-regulated and reputable brokers, licensed by leading authorities in South Africa, Cyprus, Australia, and the UK.
While there are many positive testimonials for Crypto Bull on the internet, there’s plenty of misinformation too, for instance about the famous brands and celebrities linked to it.
The software claims to use regulated brokers. It’s worth noting that reputable brokerage platforms try not to work with unauthentic entities. This fact, combined with many positive user reviews, appears to be positive for the robot. That being said, we don’t buy into the 10x returns as claimed on its official website. Therefore, you must use the bot with caution.
Avoid repetitive tasks
Market analysis is often about performing the same tasks over and over again, which can get pretty frustrating sometimes. With a bot like Crypto Bull, you can let the software do all repetitive tasks, and spend more time making well-informed trading decisions.
Automated monitoring
When you automate your trading activity, there’s no need to constantly monitor market movements. The software can do all that, and execute trades on your behalf, round the clock. In a nutshell, you get to save plenty of time.
Locate best trades
A large majority of people miss out on the most profitable trading opportunities because they’re simply unable to conduct as detailed an analysis as can be done by an efficient bot. Crypto Bull claims it can analyse a large amount of market data within seconds and keep you ahead of the competition.
Emotionless trading
Allowing emotions to get the better of you often leads to major losses in the crypto trading market. That’s why bots like Crypto Bull are preferred over humans, as they can keep emotions out of the equation and execute well-calculated trades, no matter what the market conditions may be like.
Implement complicated trading strategies
Understanding and successfully implementing complicated trading strategies can be a pain in the manual mode. However, when you use a trading bot like Crypto Bull, the complexities are taken care of by the AI algorithm.
People who have been trading cryptocurrencies manually for some time may find the switch to automated mode a little overwhelming initially. After all, every bit of their activities will be taken over by the software. Hence, they can use it as an excellent tool to supplement their trades, before making a gradual switch to completely automated mode. On the other hand, new crypto traders can learn a lot by observing the bot doing its job. Trading manually on a complex crypto exchange or CFD brokerage portal can be a very difficult and time-consuming task, however, robots make it look extremely simple.
Shark Tank
An extremely popular TV reality show in the United States, Shark Tank is about entrepreneurs pitching their ideas to and seeking investments from wealthy investors. We came across online rumours linking Crypto Bull to the show but found no episode featuring the trading bot.
CNN
The US news channel often broadcasts stories focusing on business and politics. It has also featured segments on cryptocurrencies time and again. We saw an online article that showed a screenshot of Crypto Bull on CNN. However, upon conducting detailed research, we found that the story was fake.
Jeff Bezos
A well-qualified computer engineer, entrepreneur, and best known as the founder of Amazon, Jeff Bezos has had an amazing journey over the past couple of decades. Although many people have claimed that he is one of Crypto Bull’s advisors, our research revealed no link between him and the bot.
Sundar Pichai
The Indian-American CEO of Google, Sundar Pichai featured in some news stories that claimed he was stepping back from Google to take care of a few personal projects. Thereafter a handful of articles surfaced online claiming that he was connected to Crypto Bull. But after a detailed investigation, we found all such claims to be false.
Bill Gates
The American businessman, philanthropist, and founder of Microsoft, Bill Gates also featured in some online articles as one of Crypto Bull’s advisors. However, as per our research, there’s no connection whatsoever between the two.
Mike Tyson
The legendary boxer Mike Tyson has been quite vocal about his love for cryptocurrencies, particularly Bitcoin. He has even issued his own non-fungible tokens (NFTs) that are garnering plenty of media publicity. Despite openly endorsing crypto, Mike Tyson has never mentioned any trading bot in his public appearances.
Although no trading robot will ever guarantee success, there are some things you can keep in mind and practice, to minimise losses.
Start Small
It always helps to be prudent and start with smaller investments whenever you begin using such a trading bot. There’s no point risking a lot of money while you’re still getting familiar with the tool. Hence, build your working capital and gradually increase your investments as you go along.
Save Some Profits
You may be tempted to put all your profits back into the trading bot as soon as they start rolling in. However, please remember, only one bad trade is required to bring it all back to square one. As per experts, you should always withdraw and save a portion of your profits from every successful trade. The rest can be left in your account for reinvestment purposes.
Follow the Advice of Experts
If it’s your first time using a trading bot, or in the crypto industry itself, you’ll have quite a learning curve ahead of you. Experienced traders who hand out paid or free advice on multiple social media platforms can be instrumental in helping you find your feet in the industry. Just make sure that you verify their credentials, before basing any trading decisions on their advice.
Keep a Record for Tax Purposes
It’s normal for people to forget that they need to pay taxes too while they’re busy monitoring their trades. Therefore, make it a point that you keep detailed records of all your crypto trades and stay totally compliant in tax-related matters. Many crypto traders work with dedicated tax experts to help them with their tax returns.
Only Invest What You Can Afford to Lose
Please bear in mind, no matter how great your strategy may look on paper, or how efficient a trading bot may seem, there will always be the inherent risk of incurring huge losses while trading cryptocurrencies. You should always tread this space with caution and never play with any funds you cannot afford to lose.
To conclude, Crypto Bull claims to make efficient use of machine learning and natural language processing to conduct quick market analysis and execute potentially profitable crypto trades on users’ behalf. However, there’s plenty of misinformation around the project, particularly the tall claims it makes regarding possible returns. That being said, there are ample testimonials online too which suggest the product may provide positive results.
Therefore, to anyone who’d like to give it a shot, we’d suggest going slow and observing its workings before making any substantial investments. You could also check out the alternatives like PrimeBit Profit, Bitcoin Boom, QProfit and Bitcoin Madrid.