Automated cryptocurrency bots hold a sought-after status in the digital asset community. This is for good reason as well. Not only do these programs allow you to execute your trades while being away from your desk, but also let you benefit from extensive analysis and rapid transactions. With the usage of reputable exchanges, they also make sure that your trades are going through a legitimate platform.
Exchange Valet is one such cryptocurrency bot that aims to bring these features to its audience. With its user-friendly interface and simplified set of offerings, it also stands apart from many other complex crypto bots. But the bot also seems to have some issues, which makes it tricky for you to select it as your primary trading program.
To learn more about Exchange Valet, its advantages, and its disadvantages, here’s a lowdown on this cryptocurrency bot and all that it brings to the table.
⌛ What is Exchange Valet and How Long Has It Been in Business?
Exchange Valet is a cryptocurrency bot that allows its users to automate the buying and selling of crypto assets. The automated bot works on multiple cryptocurrency exchanges and lets its users execute trades on the basis of market movement, signals, and trends.
Exchange Valet was launched in 2018. Since then, the bot has made a few improvements to its offerings. However, it is still available as an installable app for personal computers instead of a cloud-based offering that can be accessed via web browsers.
The Exchange Valet app gives you the ability to connect to your desired exchange that’s supported by the platform. From there, you can connect your exchange account, set up your trading strategies, and let the automated algorithm do its work.
This means that you don’t have to constantly monitor the bot for it to make trades according to market movements. It executes those actions all by itself and doesn’t require you to perform constant manual interventions. But you do need to keep regular checks on it to determine if your strategies are working or if you have to tweak them a little bit.
💡 How Reputable is Exchange Valet?
Exchange Valet holds a niche following that doesn’t quite reach the type of fervor enjoyed by popular cryptocurrency bots. However, Exchange Valet’s existing users seem to appreciate the type of solutions that the cryptocurrency bot offers to them.
As suggested by its name, Exchange Valet is built on the promise of taking off the burden of redundant tasks off your shoulders. The app does quite a good job at it through its graphical user interface (GUI) as well as its available strategies. This makes the program quite sufficient for those cryptocurrency traders who want a simplified trading bot that lets them make their trades in peace.
Since Exchange Valet’s online presence doesn’t have much to speak for it, it makes up for that lack of traction by offering a Telegram discussion channel. On this channel, those who are actively using Exchange Valet can get together to discuss the bot’s functionalities and problems alike.
The reputation is also helped by the free 14-day trial that is offered by Exchange Valet. The trial is offered without the requirement of cryptocurrency deposits or credit card usage, which sets it apart from many other bots where such an offer is not provided at all.
After the trial period ends, users can make their payments in either Bitcoin (BTC), Ether (ETH), or Litecoin (LTC).
👌 Which Exchanges Does Exchange Valet Support?
But seeing that both of these exchanges hold a positive reputation in the cryptocurrency industry, Exchange Valet’s support for them allows the bot to reach out to a wide audience.
If you have an account on Binance or Bittrex, then Exchange Valet might be the perfect fit for your needs. Since these exchanges are also quite easy to access, you can make new accounts on them without running into larger issues.
With that being said, if you hold a primary account at another exchange or don’t want to deal with Binance or Bittrex, then Exchange Valet’s offerings might pale in comparison to some other popular bots.
💰 How Much Does Exchange Valet Cost?
Exchange Valet has different subscription plans, where the same level of features are offered with varying duration of validity. This pricing mechanism makes its offerings straightforward to understand for many cryptocurrency traders.
At the time of writing, Exchange Valet offers three different pricing plans.
- Monthly: $29 for 1 month.
- Quarterly: $75 for 3 months.
- Yearly: $250 for 12 months.
As seen above, the monthly plan comes at regular pricing of $29/month, the quarterly plan comes at a special price of $25/month, and the yearly plan comes at the heavily discounted price of $20.83/month.
All payments can be made with BTC, ETH, and LTC. This means that you don’t have to link your credit card to your Exchange Valet purchase.
As mentioned before, the offering also comes with the offer for new users to download a free 14-day trial. This trial offer is available without any stipulation of deposits.
All plans offer the same slew of features, which include the following attributes.
- Portfolio Tracking
- Easy Stop-loss/Take-profit
- Unlimited Pending Orders
- Order Notifications
- Trailing Stop Orders
- Binance and Bittrex Support
😎 How Easy to Use is Exchange Valet?
Exchange Valet comes in the form of a desktop app that is available for Windows, Mac, and Linux. This means that you need to install the program on a specific computer instead of being able to access it on the go from any browser.
This makes Exchange Valet different from many other modern cryptocurrency trading bots, which offer web-based applications that don’t need any installation. As a result, Exchange Valet demands more technical knowledge from its users than other simple-to-use competitors.
The bot boasts of a GUI with quite a simple design. This makes it easy to use for anyone who has basic knowledge of cryptocurrency trading. But the way that the features are aligned does make them a bit tricky for those who have no idea how to use a crypto trading bot.
With that being said, if you have no issues in dedicating some time to Exchange Valet and learn the ropes of its overall interface, you can become familiarized with the features in a few minutes to a few hours.
While the program does not have a mobile app, it makes up for that through mobile notifications that are delivered through a Telegram bot. The Telegram Chatbot also offers a way for portfolio tracking, which lets you keep on top of your cryptocurrency portfolio while the bot works its magic.
On one hand, the simple strategies that are available with Exchange Valet limit its ability to make complex trades. On the other hand, they contribute to the overall ease of use for the app. This makes it especially user-friendly for those who have little to no experience of using a cryptocurrency bot.
If not for the installation requirement of the desktop app, a web-based version would have made Exchange Valet a simplified offering that is great for entry-level traders. But since a desktop app installation is necessary, this makes Exchange Valet miss out on this advantage.
With that being said, the app’s servers are cloud-based. This means that you don’t have to keep the app running 24/7 in order to benefit from its solutions. Even if the app isn’t open, it continues to run in the background and makes trades according to your strategies.
🛡️ What Kind of Security is Offered?
Exchange Valet offers basic security that includes the usage of application programming interface (API) keys to connect to your exchange account. Since the API keys can be set up in a way that restricts any withdrawals from your exchange wallet, it secures your funds from unauthorized outward transfers. Exchange Valet also recommends that you set up your API keys in a manner where withdrawal access isn’t provided to the program.
Exchange Valet also explains that while it needs you to download a desktop app, it hosts its operations on the Google Cloud platform. This provides the program with additional security and lets you rest assured that it is using proper safety measures to keep your data out of harm’s way.
Exchange Valet also complies with certain security standards that include ISO 27001, ISO 27017, and ISO 27018. This distinction also highlights the type of security offered by the platform.
👨💻 How Good is Exchange Valet Customer Support?
Exchange Valet’s customer support lags behind many of its competitors. For one, the platform doesn’t have any transparency about the people behind the project and seems to operate through a Telegram channel for the most part.
This means that whenever you need to contact Exchange Valet support, you primarily need to go through Telegram instead of a live chat option on the website itself. While Exchange Valet also lacks a phone number, that is a norm with many other bots.
But when it comes to accessing any help resource such as FAQs or manuals, the platform runs into noticeable challenges. At the time of writing, its support section remains inaccessible, which makes it quite an issue for any users who may run into functional problems with the bot.
💸 How Profitable is Exchange Valet?
Exchange Valet doesn’t claim to make you a certain percentage of profit, which speaks for its transparency. It’s because cryptocurrency trading depends on constantly evolving prices, market movements, and the performance of certain strategies. Due to this reason, no reputable crypto bot or analyst can make rock-solid claims about the profitability of any trading program.
Instead, the profitability of Exchange Valet depends on a lot of factors such as asset price, movement, and market sentiment. This is also similar to every trading bot that you can find under the sun.
That is why, when you switch to Exchange Valet, it is important to consider that the bot cannot generate surefire profits for you. Instead, it can only help you obtain some degree of profitability based upon your strategy as well as the market’s state.
Keeping this in mind, you should make sure that you are not fully dependent on the automatic mechanisms that Exchange Valet brings to the table. Instead, make it a point to monitor your bot’s activity from time to time. This gives you the ability to optimize and change your strategies according to real-time results.
Overall, Exchange Valet is a simple-to-use offering that can be a hit-or-a-miss for novice and experienced cryptocurrency traders alike. For instance, while the bot excels at simplified offerings, it lacks in terms of advanced strategies. Similarly, even as it delivers mobile notifications, it requires you to install a desktop app instead of connecting through a mobile browser.
The lack of extensive support or clear assistance also makes Exchange Valet a tumultuous choice for many cryptocurrency users. But if you need a simple bot, using the free 14-day trial might not hurt. If anything, it can give you an idea of whether you would prefer a simplified bot or an advanced offering.