With easy accessibility to artificial intelligence (AI) and machine learning (ML), various modern solutions are leveraging these technologies to their advantage. This also includes cryptocurrency trading bots, which are introducing new and innovative solutions to the digital asset segment.
Stoic delivers a similar type of solution that is based on cutting-edge tech. But Stoic offers its services with the additional power of expert analyst advice. This provides you with a hedge fund approach in crypto trading, without fretting about setting up the intricacies by yourself.
To see what Stoic brings to the table, here’s a quick guide to the cryptocurrency bot, its features, and overall functionality.
⌛ What is Stoic and How Long Has It Been in Business?
Stoic is a crypto trading bot that allows you to maintain a digital asset portfolio through automated transactions.
Through its mobile app interface, Stoic enables you to make quick trades across selected markets whenever certain conditions are met. But unlike other crypto bots that require you to manage individual assets and their respective transactions, Stoic uses a pre-selected portfolio of top 30 cryptocurrencies to automatically adjust their ratio within your cryptocurrency investment.
This means that you don’t have to move forward with selecting trading strategies for every single cryptocurrency that you want to hold in your digital wallet. Instead, you simply invest in a preset portfolio of cryptocurrencies and let Stoic do all the work in terms of buying and selling the related assets for optimal profit. The platform uses a long-index strategy for the altcoin basket in question and rebalances them on a daily basis.
Stoic was launched in early 2020 as a mobile app. Available for iOS and Android, the app can be accessed through any modern mobile device and gives users access to automated trading algorithms through a portfolio mechanism. This brings significant ease of use to the table. This simplicity is especially profound when Stoic is compared with other trading bot solutions that have more intricate interfaces and intensive operating requirements.
At the core of Stoic is its parent company called Cindicator. Founded in 2015, Cindicator is committed to using AI and ML for financial analysis and trades. This is also the basis of Stoic’s operation and the streamlined approach that it takes towards automated trading of cryptocurrency.
By noting down the views and forecasts of over 150,000 analysts, the Stoic bot uses collective data and hybrid intelligence to make its automated transactions possible.
💡 How Reputable is Stoic?
Stoic is a new cryptocurrency bot with a subversive approach to automated trading, which is why it has a relatively low profile within the crypto industry. However, those who have used the solution swear by its efficacy and ease of use.
Since Stoic’s main mode of operation is mobile apps instead of desktop or web apps, it also stands apart from other cryptocurrency trading solutions. To add to this distinction, it also uses a portfolio management mechanism at the forefront rather than supporting traders in buying and selling individual cryptocurrencies. This gives Stoic the opportunity to cater to a certain subcategory of cryptocurrency traders and establishes it as a niche product in an already specialized industry.
Stoic makes its trades on Binance, which is a highly reputable cryptocurrency exchange. Using a popular platform gives Stoic a distinguished layer of reliability, which is something that it clearly needs while trying to make its name in the digital asset sector.
But the actual reputation or rather the credibility for Stoic comes from its parent company, Cindicator. Given that Cindicator has been in business for more than half a decade and has launched various financial products including the hedge fund Cindicator Capital, the brand name provides Stoic with some much-needed support. Leveraging this recognition, Stoic continues to build upon its solutions and offers new ways for traders to manage their cryptocurrency portfolio.
💰 How Much Does Stoic Cost?
Using Stoic costs you a 5 percent annual management fee. This fee applies to the total amount that you have invested in the solution. The minimal investment threshold that you need to meet is $1,000/1,000 Tether (USDT). This turns your fiat currency investment into an altcoin portfolio, which is then automatically managed by Stoic on a consistent basis.
This means that in contrast to many other automated cryptocurrency trading bots, Stoic doesn’t have a monthly subscription fee. This is in line with the app’s hedge fund or conventional investment product approach. But it sets it aside from many other digital asset trading solutions.
The annual fee is charged in the form of USDT, which is a stablecoin that follows USD value at all times. This saves you from running into transactions of fluctuating value, while also making it easy for you to make your payments in cryptocurrency.
The 5 percent annual management fee is the only charge that is applied by Stoic for its services. Even when your portfolio records positive trends or profits, the platform doesn’t increase its fee or levies additional charges such as performance fees. This provides you with an affordable way to use this hybrid intelligence solution.
😎 How Easy to Use is Stoic?
Stoic is purpose-built to operate as an easy-to-use cryptocurrency portfolio management tool. Due to this reason, it fully delivers on this expectation and minimizes any difficulties that are often seen with conventional cryptocurrency trading bots.
Since Stoic buys and sells cryptocurrencies using a hybrid intelligence method, it uses a method similar to hedge funds. This relieves you from the responsibility and worry of managing your crypto assets to the last detail. Instead of micromanaging the trading mechanisms of your cryptocurrencies, you can sit back and see how the advice of skilled professionals and the power of modern tech generates your potential profits. This particular mechanism contributes to the efficiency of the Stoic app and takes its functionalities to the next level.
But despite this management approach, Stoic doesn’t compromise on delivering timely updates or checks whenever you need them. The app offers a visually-appealing user interface (UI) that offers detailed charts and portfolio performance. This gives you the features of 24/7 monitoring and the ability to withdraw your funds at any given time. In turn, this strikes the ideal balance between convenience and control.
In addition to simple management during active utilization, Stoic’s initial setup is also a breeze to go through. While Stoic requires you to have a Binance account, the popularity and the straightforward approach of Binance makes the process quite easy.
Once you have connected your Binance account to Stoic, you can designate any available cryptocurrency to manage under Stoic’s portfolio. Once the minimum amount threshold is met and the setup is complete, Stoic becomes operational and continues to manage your top-30 altcoin portfolio with daily rebalancing.
🛡️ What Kind of Security is Offered?
Stoic uses industry-standard security mechanisms to keep your assets safe. This includes the utilization of an application programming interface (API) key to connect to Binance. This makes sure that you don’t have to share your Binance account username and password with Stoic.
It also ensures that you are only giving Stoic access to the certain account or Sub-Account that you want to use on Binance. This lets you separate the management of different trading accounts.
Stoic also only asks you for trading permission and suggests that you turn off the withdrawal option that lets you transfer funds from Binance to another exchange account. As a result, you can rest assured that the cryptocurrency funds in your designated account are only being used for your trading mechanisms and are not being withdrawn by an unauthorized third party.
👨💻 How Good is Stoic Customer Support?
Stoic’s customer support comprises live chat, a detailed FAQ section, and different educational posts on its website that let you understand key features of the platform. This gives you different ways to resolve common issues if or when you run into them, with the live chat feature helping Stoic stand apart in terms of swift customer service delivery.
The FAQ section by itself resolves many common inquiries such as creating your Stoic account, paying your management fee, or learning how to use the app during its operation. This also goes a long way in minimizing common issues by delivering the required answers for them.
💸 How Profitable is Stoic?
Stoic uses past data to make claims of profit, which include a certain period of March-November 2020 where the platform was able to make over 318 percent of returns. According to Stoic, this period also recorded an average daily return of 0.62 percent. Both of these values are quite significant in terms of trading mechanisms and outline that the platform is a powerhouse entity that deserves to be tried at least once.
With that being said, Stoic is a cryptocurrency trading platform at its very foundation. That is why, it is possible that it may not generate typical profits from the get-go. Even more so, it could actually lose your invested amount with no deliberate fault of its own but due to the market mechanisms at play.
It is important that you invest only those funds that you can afford to lose. While Stoic provides you with historical claims, it is critical that you trust the waters first and see how much profit you are able to generate through the minimal threshold. From there, you can decide whether to invest more funds into the Stoic mechanism or part your ways from the app.
📢 Conclusion
Stoic is a simple yet effective solution that does something notably innovative and incredibly rare in the cryptocurrency medium. With that being said, the platform’s approach to automated portfolio management is not new. As such, it is already being offered by a select few players in the cryptocurrency industry. But the way Stoic has packaged its solutions warrants a closer look and detailed use of the platform.
Whatever you do, make sure that you are only investing funds that you can afford to lose without affecting your livelihood. This provides you with an effective yet wise way to test Stoic as being the ideal solution to your cryptocurrency investment needs.