By means of a smart trading terminal and automated bots, crypto traders can increase their profits while minimizing their risks, thanks to the platform’s capabilities. By TokenTact cryptocurrency trading platform, you can create and then implement automated crypto trading strategies. With its smart trade functionality, trailing orders, and risk management tools, it offers a streamlined way to monitor and execute trades across multiple crypto exchanges. The platform is also offering users with the possibility to get portfolio analysis and copy trading for users that do not feel so comfortable trading alone virtual currencies. With this feature, newcomers can follow the trades implemented by other traders and increase their profits in just a few seconds. It offers different styles of trading bots that would be able to help you search the solutions you need and the ones you are searching for.
The TokenTact trading bot has over 33,000 registered users with around $10 million in daily trading volume. The subscription plans are a good value, especially with the automation element enabled by algorithmic trading bots that are easily configured. More value can be derived by seasoned crypto traders who have the experience and skillsets to integrate automation with effective trading methodologies. TokenTact is an excellent app for cryptocurrency traders and investors. It offers pricing charts, supported exchanges, and bot settings that make it easy to start trading cryptocurrencies. Though it may have downsides, we hope this TokenTact review made you feel like it’s still worth considering, if you are looking for an easy-to-use platform with excellent support.
As stated before, the platform is very intuitive and user-friendly. Beyond that, TokenTact offers the ability to copy strategies from seasoned users. Besides, educational blog posts, tutorials, and an active community of people will engage with new traders. At its core, the Estonia-based TokenTact is an online platform for people interested in trading cryptocurrencies using automated bots. It is especially attractive for people without a technical background in finance or extensive experience in stock markets. However, effective utilization still requires understanding how to configure and backtest bots properly.
Additionally, TokenTact employs multi-factor authentication (MFA) to further enhance security, and it uses bank-grade encryption to protect user data. Soon after, TokenTact’ official Twitter handle and CEO/founder also confirmed the hack and stated that it affected TokenTact users’ API keys across all exchanges. These features include 2FA, API key management, password complexity requirements, data encryption, dedicated servers, multi-signature wallets, and an audit trail. Rewards are given to individuals who report valid bugs, and the amount of the reward is based on the severity of the vulnerability. The signals are based on technical analysis and include information such as buy and sell signals. They can also save their preferred settings as templates, which can be applied to future trades.
A major weakness with almost all crypto exchanges is a lack of trade-setting parameters available on the platform. For example, I’ve never seen a crypto exchange that allows traders to split their take profit levels https://wolfstreetnft.com/tokentact-crypto-bot/ and use trailing profits, heck, most don’t even support simple trailing stop losses. This area of the site allows traders to test out strategies and practice bots on demo accounts without risking live funds.
- TokenTact has three plans that offer more to traders as they climb the pricing ladder.
- It has a one-time payment plan and access to license updates for a lifetime.
- The platform also offers trading competitions and rewards for users who participate.
- This makes it an option for those who are short on time or just don’t want to wait around for the right opportunity to drop into their lap.
Consequently, Smart trade TokenTact allows you to follow the price movement to the top and take profit only when your trade reaches market exhaustion. This tool automates the buying and selling of assets based on a grid composed of buy and sell levels. Grid trading is most useful for cryptocurrencies that trend sideways and allow you to take frequent profits from their minimal movements.
This suggests more testing is needed to shore up software stability. Security also emerged as a concern, as a past API key leak led to significant losses for some – underlining the need for TokenTact to prioritize protective measures like IP whitelisting going forward. A TokenTact review of customer experiences shared on Trustpilot provides insight into both the promise and problems presented by the cryptocurrency trading platform. Another advantage to Smart Trade is that it enables you to add take profit and stop loss levels to every trade, which many cryptocurrency exchanges do not allow. These options are relatively robust, as you can, for example, set multiple take profit levels and specify how much volume should be sold at each trigger price.
Users get access to 18 exchanges and by using the transparent and clear system can transact efficiently without the hassle of tracking quotes. The service provides a diverse range of tools that increase their accuracy and profits. This informs the crypto trading bot when it can start executing safety trades and is set as a percentage. If set to 3, when the price of the selected currency drops by 3% below the initial trade price, then the trading bot will begin to execute safety trades. It’s got features that let you create and use automated trading strategies.
Moreover, you get advanced charting tools and indicators to formulate your TA strategies, in which the inbuilt bots in Quadency can help you execute. TokenTact enables traders to save an enormous amount of time and trade around the clock. Grid bots are directional in that the market moving with you or against you will make a positive or negative difference in your performance. However, Grid bots are also great for a sideways or crab market where the price of the underlying asset is simply fluctuating around one price. Although investors that are new to cryptocurrency would heavily benefit from the Shrimpy trading services, seasoned professionals may gravitate more towards the complexity provided by TokenTact.