NapBots offers automated crypto indexes and bots for every investment preference, day trading or auto rebalancing. The platform comes with an easy-to-use interface and requires no pre-market experience from investors. It is possible to choose from multiple strategies and receive support from the detailed user guide on cryptocurrencies.
We will go over the vital characteristics of the platform and discuss all of its potential advantages and disadvantages for making a better investment decision.
Quick summary
NapBots has some unique tools and characteristics, which we can list as follows:
- Trading bots for day traders and crypto indexes for beginners and position holders
- User-friendly dashboard with easy portfolio tracking tools
- A 7-day free trial is available to test out the service
- Multiple strategies are available, i.e., mean reversion, trend following, AI bots, etc.
- Detailed tutorials and support are present to increase your crypto knowledge
NapBots: pros and cons
The benefits and drawbacks of NapBots can be listed as.
| Pros | Cons |
| Multiple subscription plans | No more than $5000 can be traded |
| Safe and secure assets | The premium plan is a bit costly |
| No live chat for customer support | |
| There are no live or backtesting records available |
What is NapBots?
NapBots support multiple exchanges, i.e., Binance, FTX, Kraken, Huobi, OKEX, and Bitfinex and auto trades in the crypto market without the need for any manual intervention. The company plans on adding Coinvase, Bybit and Bitmex soon. The platform is subjected to regular updates from the developers and comes with multiple subscription plans.
| Price: | Silver plan–€19/month, Gold plan–€49/month; Platinum plan–$99/month |
| Withdrawal fees: | N/A |
| Deposit option: | Credit card via stripe |
| Supported countries: | All |
| Supported exchanges: | Binance, FTX, Kraken, Huobi, OKEX, and Bitfinex |
| Free trial period: | No |
| Multiple currency support: | Yes |
How does it work?
The platform presents the following major algorithms for traders:
- Averaging
These algorithms open consecutive orders in the same direction when the market trends against the initial position.
- Trend
Trend trading robots determine the market structure by analyzing the candlestick charts on the respective timeframe. They trade in the direction of the momentum.
- Index
It allows traders to trade multiple cryptocurrency indexes.
A NapBot trader can also create their customized game plan and present it to the public.
Pricing and fees
NapBots has monthly subscription plans at €19, €49, and €99. They differ based on leverage, the number of robots, and investment capacities. The maximum amount traders can invest is capped at $5000.
Privacy and security
The developers comment that they have no access to traders’ funds which are kept safe on the exchange. API keys are used to connect to the brokers. The lack of information on the security section is a bit alarming here.
Reliability
NapBots claims to be a trademark of Napoleon Software,which is an affiliate of Coinshares International Limited. The website comments that it was produced by professional quant analyzers who have managed billions of euros in capital. It claims to be featured on top websites such as Forbes and Benzinga; however, there are no links that could lead us to the respective pages.
How to start trading using NapBots?
After signing up, investors will have access to choose a signal that best suits their investment style. It is possible to become a NapBot trader and create your customized strategy. Publishing your game plan to the public will allow you to earn a 30% commission on every receiver.
Who is NapBots suitable for?
NapBots is suitable for traders who have no market experience and are looking for sources to generate a side income. It also offers services to professionals who can create their own custom strategies and then sell them out to the public.
NapBots support
The platform lacks good customer service as the help and support section has improper hyperlinks that could lead to their support center.
From the contact us page, we can see that traders can use the email address and phone number to reach out to the developers.
NapBots community
For a total of 186 reviews, the platform has a rating of 4.0 on Trustpilot. A trader comments that they are beginning to profit from crypto trading after using NapBots.
The Review
NapBots review verdict
NapBots aims to provide an automated crypto platform for traders with little to no market experience. The platform is still in the beta stage as it was launched recently in 2020. Traders have to be cautious as there can be security risks due to the relatively new nature of the platform.
