Social media has been ablaze with posts touting Crypto Boom, an automated trading tool that supposedly purchases and sells bitcoin on your behalf.
Although we were unable to independently verify it, the site claims to be 98% accurate when trading prominent digital currencies. Crypto Boom is a trading platform that requires no prior knowledge from its users and has no associated trading costs.
Is Crypto Boom as effective as it claims to be? We hope that our Crypto Boom review will provide you with all the information you need to judge whether or not this Bitcoin robot is a scam
Introducing The Crypto Boom
The Crypto Boom is an exclusive exchange for buying and selling Bitcoin and other cryptocurrencies. However, there is a lack of backtesting and independent auditing.
With the platform's help, traders may make rapid, automated transactions in Bitcoin and Ethereum, among other cryptocurrencies, in the hopes of making a profit. Profits from Crypto Boom's automated trading are credited back to your trading account, where they may continue to grow and multiply.
According to the developers, this Bitcoin robot uses an advanced algorithm to monitor the cryptocurrency market. The website claims that the platform's trading algorithm is 98% accurate and so rapid that it is always 0.01 seconds ahead of market moves. But we have no way of checking out these assertions. Don't forget that there's always the chance of losing money while trading and Crypto Boom is no exception to that rule.
Notably, according to the Crypto Boom blog, you won't have to pay anything to make use of this program. Trading fees and commissions are not charged to users of this site, and neither is creating a new account. An initial deposit of $250 is required to use Crypto Boom, however, a demo mode and rapid withdrawals allow you to test the waters without risk.
Where Does the Crypto Boom Come Into Play?
According to the results of our Crypto Boom study, this service promises to use a cutting-edge algorithm to mechanically trade digital currency. The the-crypto-boom.com claims that the algorithm has been trained on data from years of cryptocurrency day trading, allowing it to identify price patterns that are likely to lead to bullish or bearish moves. The algorithm will begin a trade after it has recognised a pattern that it is familiar with.
Beginning a transaction, say, the purchase of Bitcoin, requires Crypto Boom to invest the funds you provide it with. If the price trend starts to wane or a profit objective is hit, the trade is automatically closed. Profits, if any, are deposited back into your trading account for use in future transactions.
Specifications Of The Crypto Boom
In our Crypto Boom review, we looked at what makes this trading platform unique.
The Crypto Boom platform boasts lightning-fast transaction execution times and 24-hour, seven-day-a-week availability for its algorithmic bitcoin trading. The software brags that it can beat human traders by at least 0.01 seconds every time because of how quickly it responds to market changes.
While we were unable to independently verify this, if Crypto Boom is so fast, it should be able to see emerging patterns almost immediately and capitalise on favourable market conditions when making trading decisions.
Stats Suggest A 99.4% Hit Rate
The Crypto Boom platform has a 98% success record in trading bitcoins, at least according to the company's claims. Other crypto trading bot services may make similar apparently implausible promises for marketing reasons. Our investigation of the Crypto Boom did not provide any evidence to support this assertion. Use caution when investing in cryptocurrency; these assets are very risky and the claimed win rate may not be sustainable over the long run.
Invest In A Variety Of Cryptocurrencies
The Crypto Boom platform may trade 8 different cryptocurrencies. To maximise your potential for making a profit, you must be able to trade a wide variety of the most popular cryptocurrencies. These eight cryptocurrencies are among the most actively traded on the market today. In addition, the volatility of these currencies is often rather considerable compared to that of stablecoins like Tether.
Real-World Practice Account
The Crypto Boom has a practice mode where users may make transactions without really spending any money. It's a great opportunity to assess whether Crypto Boom lives up to the hype and if it's a suitable match for your trading style.
The trial account may also be used to test out different settings for the trading algorithm, allowing you to fine-tune it for the current market circumstances without risk.
Instantaneous Withdrawals And Deposits
Crypto Boom does not charge any fees for using a bank transfer, credit card, or debit card to fund your account. Brokerage account funding through credit/debit cards is instantaneous. In addition to not charging any withdrawal fees, this service claims to process withdrawal requests in under a minute.
Crypto Boom Fee Structure
Crypto Boom's lack of transaction fees is one of its main selling points. Transactions, including deposits, transfers, swaps, and charges, are all gratis.
Don't forget that Crypto Boom's broker charges a spread on cryptocurrency transactions. Crypto Boom does not collect these costs on its own.
Can You Trust Crypto Boom To Act As An Authentic Trading Bot?
In this Crypto Boom review, we set out to determine whether the programme was legitimate or not. Like other crypto trading bot sites, it boasts a 98% success rate, albeit you should take such claims with a grain of scepticism. The Crypto Boom's assertions could not be confirmed by us.
Additionally, Crypto Boom claims that there are no fees associated with using the platform and that funds may be withdrawn at any moment if consumers are dissatisfied. You may test Crypto Boom without really investing any money by using the demo version.
If true, this would mitigate some of the danger, however, Crypto Boom seems to demand a purchase before you can access the sample account.
Crypto Boom: How To Use It?
The following are the processes for those investors who choose to join Crypto Boom:
Initial Action: Register With Crypto Boom
If you want to sign up for Crypto Boom, you may do so at their website. If you're ready to sign up, fill out the form with your information and hit the "Join Now" button.
The Second Step Is To Make A Deposit
When creating a Crypto Boom account, a $250 initial payment is needed. You may fund your account with no additional costs by using any major credit card, debit card, or bank transfer.
Third, Begin Trading
The Crypto Boom trading platform has been unlocked for your use. Starting with a sample version of the platform allows you to experiment with different algorithm settings without committing to a full purchase. To begin trading Bitcoin when you are ready, activate Crypto Boom by toggling the Live Trading switch.
Keep in mind that trading cryptocurrencies have the inherent risk of losing money and that we were unable to independently verify the trading bot's claimed success rate.
Our analysis of Crypto Boom revealed that the service can automatically trade eight distinct digital currencies. We were unable to verify Crypto Boom's claims that its trading platform's proprietary algorithm has a 98% success rate for users.
Whether you're interested in seeing if Crypto Boom lives up to the hype, you may trade with virtual money first. Our comprehensive guide to algorithmic trading platforms includes several Crypto Boom alternatives since it is often advised that you spread your investments over many platforms.