With many automated trading bots popping up across the cryptocurrency scene, it is not shocking to find new platforms being mentioned over the web. EazyBot is one such solution that is making the rounds of the cryptocurrency community due to its novelty.
But what is EazyBot and what type of benefits does it bring to its users? To help you learn more about this bot, here is a lowdown on this platform and its offerings.
⌛ What is EazyBot and How Long Has It Been in Business?
EazyBot is an automated trading bot that allows you to buy and sell your cryptocurrency assets without constant manual intervention. The company was founded in 2022, which means that it is still in its infancy when compared to more established cryptocurrency bots.
When you use EazyBot, you can set up your bots using a point-and-click interface. From there, these bots can connect with your chosen exchange account and start trading with your available funds. You can either choose basic bots that run without the requirement of a full setup or advanced bots that give you more customization options.
Through either type of bots, EazyBot claims that it closes over 99 percent of trades in profit, which paints a picture full of cash returns for its users. In order to make these trades, Eazy Bot requires you to not only pay for its initial subscription but also offer it a cut of your profits on top. This commission that is charged on each profitable trade is fashioned as EazyBot’s Software Service Fee (SSF).
Depending upon the type of subscription that you choose, this EazyBot SSF/commission can range from 20-30 percent for every profitable trade. This is quite an unconventional fee for utilizing the services of a trading bot, but that is the method that the platform uses nonetheless.
Apart from the SSF, another factor that sets EazyBot subscriptions apart from many other trading bots is how it promises to help you earn money in return for referring more users to its service. While asking for referrals and rewarding users for them is an established marketing strategy, a lot of trading bots do not have that in place. In turn, this makes EazyBot different from many of its competitors.
At first glance, the EazyBot review makes it easy to determine that the platform, and especially its pricing model is not structured in the same way as its counterparts. However, it is not necessarily for a good reason.
💡 How Reputable is EazyBot?
Since it was launched in 2022, EazyBot does not have a lot to show for its reputation. With that being said, it does have hundreds of subscribers and community members across different social media channels such as YouTube and Telegram.
EazyBot’s reputation is also marred by the way that it presents its solution. While the platform does mention the risks of cryptocurrency trading, it still positions its trading bot service as a nearly-perfect answer for beginner and experienced traders alike.
This is mainly because of its claims of closing over 99 percent of trades in profit. But another major reason is its overall pricing structure which is simultaneously too expensive due to its subscription fee and too lucrative because of its referral payouts.
This makes many users suspicious about what EazyBot offers to its target audience and how it might not be able to fulfill those claims from a realistic point of view. When you search for EazyBot reviews on the web, you stumble upon such suspicions from various outlets. But that is where EazyBot’s referral mechanism comes into play, and also shows you different YouTube videos and Reddit links that praise the platform, only to ask you to sign up for it using their provided referral link.
When performing your own EazyBot review, all of these instances can be enough to make you feel alarmed about the service. Since the platform does not offer a month-to-month service, it also further adds to these suspicions.
👌 Which Exchanges Does EazyBot Support?
EazyBot supports multiple cryptocurrency exchanges that include Binance, Coinbase Pro, and KuCoin.
Across these exchanges, you can set up beginner-friendly bots that don’t need much input from you in order to start working. At the same time, you also have the option to configure more customized bots where you can tweak the strategy that they will continue to follow. However, you can only trade select cryptocurrencies over these exchanges.
The list of exchanges might be on par with many other new trading bots, but the overall limitations make the EazyBot value proposition pale in comparison to established trading bots. This is especially true when you realize that other bots offer a larger range of exchanges at lower prices.
This makes EazyBot fall behind its overall list of competitors in terms of the exchange support that you expect from a trading bot in this day and age. If you want more flexibility from your trading bot for accessing popular exchanges or markets, you may want to look at other options.
💰 How Much Does EazyBot Cost?
EazyBot has structured its subscription model in quite a convoluted way. In addition to being complicated, it is also pricier than many other solutions of its stature.
The EazyBot license is available in three subscription models. These are outlined below to help you gain more insight to perform your own EazyBot research.
Free Forever
This package doesn’t cost you anything on the surface, but requires you to pay 30 percent of your profits on each trade to EazyBot. You get 2 trading pairs with 1 exchange.
You also get Daily Support Zoom calls and access to marketing tools, which you can use to gain more referrals and earn bonuses on every new member that you recruit.
Advanced
This package is priced at $250. Additionally, it asks you to pay 20 percent of your trade profits on each profitable trade. You also get up to 10 trading pairs across 2 exchanges.
It also includes the features of Daily Support Zoom calls and access to marketing tools.
VIP
As the highest offering from EazyBot, this package costs you a whopping $995 and still requires you to pay 20 percent of your profits on each profitable trade. The trading pairs maximize to all the pairs supported by the tool, while the number of exchanges go up to 5.
In addition to the perks of Daily Support Zoom calls and access to marketing tools, you also get a dedicated agent for a monthly private meeting.
There is No Free Trial
Since you have to pay a fee on every profitable trade that you make across all of these packages, there are no free trials. You also need to fund your EazyBot wallet for the subscription fee as well as the ongoing Software Service Fee that is attached to every profitable trade.
In turn, this part of the bot review does not reflect so positively on the service. Instead, it makes it look expensive, complex, and full of redundant features.
For instance, features such as access to marketing tools usually have no place within a trading bot, but EazyBot somehow makes it an integral part of its offering. Besides, the 20-3o percent Software Service Fee on each profitable trade only seems like an unnecessary obligation that you might not encounter with reputable trading bots.
😎 How Easy to Use is EazyBot?
EazyBot’s application interface is easy to utilize and follows the standard graphical user interface (GUI) design that is similar to many other trading bots. This makes it a user-friendly application that lets you set up your trading bots with ease.
However, if you are a beginner, there is not much information available from EazyBot on how to best set up and utilize your bots. While there is a quick guide available on connecting to your exchange through application programming interface (API) keys, the actual setup process of the bot is not defined with as much detail.
There’s another curious mechanism at play: The FAQ section has minimal information about setting up the bots, but it does guide you through the process of funding your EazyBot wallet in quite a detailed manner.
This raises questions about the dedication of the EazyBot team toward actually helping beginner-level traders use the bot, instead of seemingly making a quick buck out of its audience base.
While you can find several videos on YouTube that detail surface-level setup for EazyBot, the official definition video of how EazyBot works is quite barebones. From its composition and material at hand, it seems more like a snippet taken from an online call than a video made for new audiences. For all its talk of providing users with marketing tools, this lack of an audience-friendly approach casts a shadow over EazyBot’s marketing abilities.
Overall, this section of the EazyBot review reflects poorly on the platform for not being able to help users through the many aspects of managing a bot. This is an especially pertinent point to note for a solution that seems to make trading easy for beginners.
🛡️ What Kind of Security is Offered?
EazyBot offers standard security practices that include API key connectivity to exchanges. This saves you from sharing your exchange account passwords with the platform. EazyBot also asks you not to provide it with withdrawal permissions for your exchange account, which also keeps your funds safe.
But it gets tricky when it comes to keeping your overall funds secure. For instance, the EazyBot wallet that the platform asks you to fund for your Software Service Fee is controlled by the company itself. If you need to make a withdrawal from it, you have to request EazyBot to do it for you.
This means that the funds that you aim to accrue from referring new users to EazyBot are also under the platform’s hold and do not directly transfer to your exchange account. You always need to make a withdrawal request to transfer any of those funds to an external wallet.
Since maintaining control over your funds is a huge part of trading bot software security, it is crucial that you keep this information in mind before you go ahead with choosing EazyBot for your trading activities.
👨💻 How Good is EazyBot Customer Support?
At first glance, EazyBot customer support is not as impressive as many other cryptocurrency trading bots. A live chat tool is nowhere to be found; the FAQ section does not prove to be as helpful as it could be, and some of the support videos are more like random interviews than educational material.
While the feature of daily Zoom calls vows to help users understand the software more, it is more of a hassle if you have a day job or other responsibilities on your plate. If you want a dedicated support agent who is available for monthly calls, you also need to pay top dollar for it. This makes it quite a difficult deal for anyone who is looking for timely and accessible help.
While performing a detailed EazyBot review, these factors work against the platform. If you need a trading bot that comes with swift support and detailed educational materials, you might want to explore other options.
💸 How Profitable is EazyBot?
At the time of writing, EazyBot outlines that out of over 1.5 million trades that it has made so far, over 99 percent have closed in profit. This is no small claim to make, and also makes the bot seem more suspicious for that reason.
It is because cryptocurrency trading is a highly risky mechanism. No matter how excellent a bot might be, it cannot ever guarantee results that are as tremendous as what EazyBot claims to achieve for its users. This makes the bot sound more like a lucrative marketing pitch than an effective solution that is transparent about its operations.
With that being said, EazyBot does outline in multiple places on its website that cryptocurrency trading may involve some risks. However, when it is making tall claims such as closing over 99 percent of its trades in profit, that fineprint can be missed out by audiences that are looking to earn extra income through cryptocurrency trading.
❌ Is EazyBot Legit or Scam?
After taking a thorough look at EazyBot, there are too many suspicious factors for you to ignore. From the way the bot is priced to the way that it is marketed, there is something allegedly off about it that doesn’t make it stand in line with reputable trading bots. While writing this review, the main website went down multiple times, while the support section remained unavailable for hours without any intimation.
If you are looking for a reliable trading bot that outlines all its trading mechanisms, remains affordable in its pricing, and doesn’t rely on dubious tactics such as referrals and recruitments, then EazyBot is not for you. It would be better for you to look at options that come at better prices, improved functionality, and transparent operations to boot.
📢 Conclusion
When you go through a detailed EazyBot review, it is easy to see that the platform is not worth your time or money. Instead of connecting your exchange account to EazyBot and funding your EazyBot wallet separately, you might be happier in finding trading bot solutions that are simpler to understand, more effective in their activities, and more transparent to their user base.