Welcome to the Buddha Bitcoin Bot review. This review is as a result of our analysis of the said trading software. You can make up your mind whether you want it or not.
First off, what exactly is Buddha Bitcoin Bot?
It’s a trading bot for Bitcoin that connects with your exchange through API keys after which it trades automatically.
The sales page claims that the monthly subscription price is usually $200 but they’ve decided to offer it for $120 per month instead (limited offer).
The owners of Buddha Bot don’t believe in introducing themselves to the people they claim to serve.
Information about their website is hidden and so you should naturally expect them to be completely anonymous until we take some time to engage our server snooping tools for a more diligent analysis.
Nonetheless, they claim that Buddha Bitcoin Bot has never been previously released to the public. So this is allegedly the first time the bot is being released to the public.
These are mere marketing declarations which shouldn’t be taken seriously since every marketer of these robots is making such claims even if they’re selling a bogus bot.
We even don’t know where the company or website operators are based at.
However, chances are that they’ll reach out to many traders since the vendor is aggressively using Google ads to advertise.
Buddha Bitcoin Bot review
The developer has published a brief introduction on their website regarding who they are.
They want traders to know that they believe in Karma and have decided to create and release a profitable Bitcoin trading robot to the public.
They even claim that they’ve spent many years developing this trading bot for Bitcoin.
Marketing declarations on this website seem to have been borrowed from the Eastern culture and by doing this, they believe that many traders will fall for their sweet tongue.
They’ve also provided some stats regarding the operations of Buddha Bot. We need to carefully analyze these stats but before we can do so, we also hope that they can be independently verified.
So far, we have the following information (according to the sales page of Buddha Bot).
Win rate…….. 41.67%
Largest total account draw down…….23.15%
Profit factor…….. 3.4%
Average monthly gain since inception: 12.5%
Buddha bot is allegedly owned by an entity called Buddha Software™. On the footer of their website, they claim that they’re not financial intermediaries or investment advisors yet that is what Buddha Bot is doing.
To be more precise, the bot is connecting to a trader’s exchange account and initiating trades on their behalf.
Because the not is trading on behalf of the client, it can be considered a matter that needs to be overseen by a financial authority such as the SEC (if they’re serving clients from the USA).
There’s no other way to look at it and no matter what Buddha Software™ claims on their website, we still believe that this bot is providing investment advice in some way.
Buddha bot review: Trading results
Every developer must demonstrate the effectiveness of their trading bot before they can sell a license.
The good thing is that the developer has provided a free one month trial to traders who want to test the viability of this Bitcoin trading bot.
If you have time, you can sign up for the free trial but keep in mind that this robot will connect to your live trading account.
This means that you’ll be testing with real money. It would be good if you can sign up for a demo with your exchange rather than conducting tests on a live account.
Secondly, we see a number of chart screenshots showing the actions of this trading bot.
These are demonstrations which cannot be verified unless the vendor is able to provide us with their myfxbook link to view results directly from.
At this point, we can’t verify their claim of earning 12.5% monthly returns from this bot.
A number of things can’t be verified either. That’s the unfortunate thing about throwing stats around on a website and believing that traders will get convinced.
The developer needs to come up with better and convincing reasons as to why traders should subscribe for the Buddha Bitcoin Bot.
They should also provide third party audited results in order to sound believable. There is a one month trial for this product but what happens if traders don’t have enough time to go through these trials?
This could also work to the disadvantage of those who shall test on a live Crypto exchange with real money accounts.
In addition to this, we need total transparency from this vendor. We’re currently seated on the fence regarding Buddha Bot.
In addition to this, we haven’t seen any reviews from traders out there. This could possibly mean that the trading bot is brand new.
This website offers a platform to discuss your findings regarding the Bitcoin trading bot.
Thanks for reading this Buddha Bot review. We expect to hear from you in the comment section.