In cryptocurrency speculation, many individuals turn towards automated solutions. Also called trading bots, these pieces of software save traders from the stress of watching the markets 24/7.
In fact, these algorithms may not only perform the task of analyzing the markets, but they can also execute trades.
This ability to buy and sell cryptocurrency on a lightning-fast pace while also keeping the market trends in check provides traders with higher chances to generate profits daily.
At the same time, it gives them plenty of free time to focus on other endeavors, which is especially helpful if they must manage multiple sources of income.
These are just some reasons why these automated tools are so visible in the digital currency community. Today we are going to review HaasOnline, that happens to be one of them.
Time in Business
Officially known as the HaasOnline Trading Server (HTS), the bot automates cryptocurrency trading for its users. Founded in 2014, it has become quite a popular solution in crypto speculation on an active basis.
The service is available through a desktop application. Available for Windows, Mac and Linux, the application can be downloaded from the official website. Once installed, the application runs as a program on your computer.
By using HaasOnline’s offered solutions, traders could buy and sell cryptocurrency without being hands-on. This is made possible by preset functions that make the trading bot analyze trends to make decisions accordingly.
This way, the software could execute orders automatically, but still makes sure that a market analysis is present.
As a result, traders could make faster and reliable deals throughout the day without having to focus on a single market. By simply setting their bots to specific markets, they could acquire and dispose of cryptocurrency on certain conditions even if they are away from their respective desks.
But automating selling and buying orders on the crypto market isn’t the only function that is served by HaasOnline. Through its software, it also lets traders utilize higher functions and speculation options.
HaasOnline is considered as one of the most advanced trading bots in the cryptocurrency market. But it doesn’t mean that it comes without its fair share of naysayers.
A few users have complained about the bots’ overall functionality and its ability to churn out profit through its preset and automated options.
But in most cases, such users have turned out to be novice traders who are either thrown off by the software’s comparatively complex interface or had been expecting too much from the automated and preset abilities in terms of making profits.
Other than that, HaasOnline has received generally positive reviews from other users and professional critics. Apart from its slightly difficult interface, the overall functionalities are considered quite favorable for most people.
The quality of automated trading is reliant on its versatility. The number of supported crypto exchanges plays a big part in its value proposition.
Fortunately for HaasOnline, the bot covers this aspect quite impressively. It almost exclusively supports and offers cryptocurrency futures markets.
It supports no less than 21 crypto exchanges, including prominent names in the digital assets space. The list is comprised of a few the exchanges supported:
- Coinbase Pro
- Kraken Futures
HaasOnline supports many crypto trading pairs or markets. As such, traders could buy and sell any cryptocurrencies that are supported by their selected exchange.
HaasOnline has garnered a reputation for itself as not only being a tool that supports several big-name exchanges, but also one that premium.
Apart from high prices, another factor that sets HaasOnline bot apart from its competitors is that instead of charging customers in USD or any other fiat currency, it has structured its pricing in Bitcoin.
This also means that those who want to utilize the platform’s services do not have to use their credit or debit cards to cover its costs. They need to transfer Bitcoin through their wallet.
HaasOnline offers three different service plans which come with varied duration of validity. These plans change according to the duration of the selected validity license.
All these plans come with unlimited access to the supported exchanges and offer chat and ticket support. Apart from the most expensive plan, they come with their own restrictions on different order limits, signals, and core features.
This also makes HaasOnline’s offering to be more complex and detailed as compared to other services, which often provide a wider level of access to their features.
This plan comes with 10 concurrent trading bots. It provides access to 11 insurances, 10 safeties, and provides just a little over 20 indicators.
The license for 3 months comes at 0.025 BTC; 6 months at 0.045 BTC; whereas, the 12-month license is offered at 0.66 BTC.
This plan has 20 concurrent speculation solutions with restricted access to some bots. It offers access to 13 insurances, 20 safeties, with an excess of 40 indicators.
The license for 3 months comes at the price of 0.044 BTC; 6 months at 0.079 BTC; and 12 months at 0.114 BTC.
This is HaasOnline’s most advanced plan and comes with access to all features and bots supported by the platform.
A 3-month license for this plan costs 0.072 BTC, a 6-month license charges 0.129 BTC, and a 12-month license comes at 0.187 BTC.
Important Details and the Lack of Free Trial
Plans from 6 months and onwards come with the offer of reduced prices, but only if you opt for annual billing. A 40 percent discount is also valid on renewals.
The trading bot does not offer any free trial. But given that it has extended plans, it offers a discounted, trial license of 2 weeks at 0.01 BTC. This trial could be used by those who want to test the platform’s offerings before paying good money for them.
With that, those who simply want to see what the end product looks like in action could use one of the demo servers that are offered by HaasOnline. Other than that, the platform doesn’t offer anything as a free lunch.
All of this makes the pricing structure quite complicated for novice traders. Those who delve professionally through the platform must take note to think long and hard before selecting a pricing plan that suits their needs.
Ease of Use
Using HaasOnline is not as easy. It is especially true for novice traders who demand simple interfaces with easy to set up bots and order settings. The service comes in a traditionally packaged user interface (UI) which requires users to be familiar. The interface is in line with other conventional trading software.
This means that while HaasOnline’s options and visual cues are understandable for those who identify as professional traders. But they leave a lot to be desired for those who are still learning the ropes of trading.
There’s a way around this complexity for new traders: HaasOnline provides a documentation section that explains the platform’s features in an extensive manner. It is very helpful for those who want to get acclimated with the platform and the various options that it has to offer.
Learning the ropes is essential in trading and takes its sweet time, new traders must go through this information and get comfortable with the notion of new terminologies and complex mechanisms before starting.
Even at being a novice trader, if you are confident enough in your existing knowledge and learning ability, then you could most certainly learn all of the new information as you use HaasOnline’s software. Since the decision comes with its own risks of causing a loss of funds during the learning process, this completely depends upon your discretion.
Apart from purchase and sales in an automated manner, HaasOnline adds advanced trading options to supported exchanges.
One of the most important options in this regard remains the inter-exchange arbitrage, which provides traders with the ability to play on cryptocurrency prices between different exchanges.
Others include backtesting of orders in historical and real-time settings; creating pre-orders at a specified base value; and technical analysis. Purchase and disposition orders come with a variety of settings such as stop-loss orders.
However, seeing that HaasOnline bundles this in a complex package for its pricing plans, it is best to analyze each plan against its specific offering before you settle down on what the platform is offering you.
HaasOnline gives minor access in its Beginner and Simple plans, which also limits the traders’ ability to make use of their pertinent order types.
Keeping this in mind, it is a good idea to check the specifics of the pricing plan that you are about to select, and see what restrictions does it carry along with it.
HaasOnline might be difficult to use, but that doesn’t make it any less secure than other offerings on the trading bot segment.
It operates on secure servers and recommends that traders hold their API in regard to their funds. This minimizes malicious parties antics.
As an added security measure, HaasOnline also recommends that users activate two-factor authentication (2FA) to their account. This provides another layer of security to the overall accessibility to the platform.
HaasOnline provides customer support to all users, which come in the form of live chat and a ticketing system.
Whether you have the Beginner, Simple or Advanced plan, you are taken care of. Chat isn’t always live, which essentially sends you back to the ticketing system.
HaasOnline doesn’t provide phone support, which is in line with most of its competitors.
There is no guarantee of profitability for any bot in the world. In fact, if any service offers guaranteed profits to you, then it is supposedly not going to make good on its promises.
It’s because the cryptocurrency market is an ever-fluctuating and evolving space. Like other conventional markets, any projections can only take you so far, and you don’t know how much money you are going to make from a few hours, days or weeks of trading.
The same notion applies to HaasOnline.
While the platform does provide its users with all the apparent tools for success, its automated trading mechanisms do not guarantee profitability. That remains completely understandable and is not any different from other trading bot platforms.
But what does create a question mark on HaasOnline’s profitability is the starting cost that traders must spend in order to start using the platform.
With the lack of a wide variety of preset strategies and difficult-to-tweak options, this is especially true for new traders who are just starting out in the space and need some time to earn their stripes.
The question mark on profitability also remains there for professional traders. After spending a large amount on the subscription alone, it is only prudent for day traders to want to turn a profit. But given the market mechanisms, the profit cannot be guaranteed in any case. The algorithm might work optimally for some, while it may not be as beneficial for others.
But that is where the paid trial license comes in. Given the nuances, if you are planning to buy HaasOnline’s extended subscription, then it is highly recommended that you try the paid trial first. This would give you an idea of whether the trading bot is a good match for you or not.
As we see from the review, HaasOnline remains good automation software. It is deduced by how its UI remains difficult to understand for new traders, while also leaving out some essential options that professional day traders might want in the price point.
As such, if the notion of conventional mechanisms and extensive tweaks does not scare you, then HaasOnline could prove to be a great answer to your day trading requirements.