Day trading has been a long-standing tradition in the tradable asset market.
The model isn’t just limited to tradable securities such as stocks. It is now just as applicable towards cryptocurrencies, where fluctuating value between assets provides traders with plenty of opportunities to generate profits.
But as reliant as day trading could be to generate consistent income, it is just as time-consuming. This stops many from turning to trading even with the many advantages that it brings to the table.
Thankfully, trading bots resolve this problem by taking the burden of the work off your shoulders. Originally designed for conventional security markets such as stocks, automated bots are now widely available for cryptocurrency as well.
⌛ Time in Business
TradeSanta first came to surface in 2018. But it wasn’t until 2019 that it hit the ground running and started to gain significant traction within the cryptocurrency community.
Trade Santa automates the process of crypto trading for its users. Instead of having to watch market trends as well as its dips and bumps, those who want to practice day trading could leave the monitoring and placing orders task to TradeSanta.
From there, the bot could follow preset instructions to perform trading according to market trends. This way, users could ensure that they are not missing out on market gains while they turn away to focus on other business opportunities or important aspects of their lives. At the same time, they can ensure that they are still making trades through platforms which they trust completely.
TradeSanta works through a completely online interface that is based on the cloud. This aspect saves users from having to install an application, which is largely in contrast with most of the solutions available in the market.
TOP TRADING BOTS
It was only recently that TradeSanta became noticeably relevant in the cryptocurrency space.
That is largely with thanks to experienced traders making the transition from exclusively traditional assets to the digital currency market. This also calls for the cryptocurrency space to have more advanced trading tools available at hand.
Given this reason, not much information and reviews are available for TradeSanta from firsthand users who have utilized the service for a long time. Those who have tried the bot for review purposes do find its features helpful and exciting enough for everyone to give it at least one try.
What helps TradeSanta’s case in this regard is its conventionally designed and easy to use interface. The trading mechanisms that the website adds to the mix enhance the existing features available under cryptocurrency exchanges, which are usually deemed insufficient by experienced traders who require more options with their transactions.
👌 Exchanges Supported
Despite being based on the cloud, TradeSanta is built in a way where its software is compatible with more than a few popular exchanges.
At the time of writing, TradeSanta’s mechanism works with some of the most popular cryptocurrency exchanges including Binance, Bitfinex, Bittrex, and HitBTC. This allows its users to access a large variety of cryptocurrencies through reliable exchanges.
With that, the trading bot is also in the process of adding more exchanges to its roster. Most specifically, it is due to add BitMEX, Huobi, and OKEX to its list of supported exchanges in the near future.
Like other trading bots in the cryptocurrency space, TradeSanta offers different pricing plans to its users.
The plans range from a free package that has a bit of almost every feature that is available on the platform. And it goes up to a premium package that comes with enough juice to meet the needs of even the most demanding day trader.
This plan includes up to 5 free bots with unlimited cryptocurrency trading pairs, which are dependent upon the exchange you are working on. It lets users access all strategies and provides Telegram notifications. The package also boasts of general support, but it lacks the availability of a dedicated support manager who could help with day to day problems.
At $15 per month, this plan raises the number of total bots to 49. The rest of the features remain the same as the free plan. This means that for paying that additional price, the main benefit that you can achieve is the increase in total number of bots you could use.
As the highest-priced plan of the service, this package comes at a cost of $100 per month. The differences that it carries are demonstrated in an unlimited number of bots as well as dedicated support. This is most suitable for those day traders who change their plans on the fly or who trade in a large number of digital assets on a regular basis.
Whenever a new user signs up for TradeSanta’s services, they are able to enjoy a 14-day trial period of the Basic plan – which means that they could utilize up to 49 bots for 14 days before reverting to the 5 bots that are available in the free plan.
The pricing mechanism offered by TradeSanta is competitive as compared to other services. But at the same time, the limitation of bots being one of the only two things that differentiates the offerings in these plans might keep casual day traders from signing up with higher-priced plans.
But that doesn’t seem to be a problem to TradeSanta for now, since as a new service, it needs all the new signups that it could get. Keeping this in mind, offering lower-priced services is one of the most effective marketing strategies that it could go after during this phase.
👉 I have tested the TradeSanta bot on the real market data, check the reports to find out more.
😎 Ease of Use
One of TradeSanta’s polarizing features might be how it channels the interface of conventional day trading bots.
For instance, when you look at the interface of the cloud service, it doesn’t look much different from that of traditional downloadable tools. This is a very good thing for conventional day traders who are branching out to cryptocurrency.
The plethora of features, settings, and strategies that TradeSanta brings to the table for its customers are nicely covered within its design and UI.
After spending a short amount of time at the cloud application, those who are familiar with the usage of typical computer applications could easily get familiarized with TradeSanta’s interface.
As mentioned above, TradeSanta carries several settings and strategies for its users. Those who are familiar with the terms and mechanisms would feel completely at home with them. While those who are just delving into using a cryptocurrency trading bot for the first time may find that a tutorial is in order.
What TradeSanta does right is providing a tutorial section on its site for each segment of its users. This way, those who are overwhelmed by looking at TradeSanta’s professional-grade system could easily take the time to understand the jargon and their real-life implementations before going back to using the software to its full capacity.
TradeSanta offers some of the most popular strategies under its umbrella, which include but are not limited to:
- Technical Indicators, including Trade filter, Volume filter, and Bollinger signal.
- Long and Short Orders, which follow market trends and execute transactions according to preset strategies.
- Extra Orders, which allows you to buy or sell cryptocurrency in case market trends don’t go according to your projections.
- Preset Templates, which let you select from a number of strategy options to tweak according to your liking.
With these features, beginner and expert users could easily make use of what TradeSanta has to offer. And with the preset templates that provide a baseline performance setting for each bot, users could easily setup signals, indicators and resulting actions to their own specific preferences.
Keeping in line with other popular trading bots, Trade Santa connects with cryptocurrency exchanges through APIs. This means that it doesn’t directly operate your funds or control them for withdrawals until you allow it to. That is why it recommends that you provide its APIs with only restricted access so that there are no withdrawals made through your account.
When TradeSanta’s API is restricted from making any withdrawals over your funds, it acts as a safe option to use as a tool without having to fret about your funds being transferred to another entity without your permission.
TradeSanta also has two-factor authentication (2FA) in place to keep your account more secure. In 2FA, you are required to verify your authenticity through multiple devices before you could log in to your account by using your password.
👨💻 Customer Support
TradeSanta’s customer support is virtually available through online mechanisms only. This doesn’t make it any different from most other service providers in its market vertical. But it does make things difficult for its users at times.
For instance, the official website does have a live chat option available, but that is not rapidly responsive. With that, the FAQ page on the site leaves a lot to be desired.
At the time of writing, the information regarding the tool’s security mechanisms is not available on the FAQ page but is separately published in a blog post. This makes it difficult to locate information that is already there and might conflate new users about what the service actually offers to them.
If you are new to the trading bot sector, then these minor issues might require you to turn to an expert every now and then. You might need to keep this in mind while you turn towards using the tool.
↔️ TradeSanta Alternatives
There are other trading bot services that you can check if you are looking for Tradesanta alternatives:
Each of these services has its own pricing and features, so it is worth to check the reviews before you launch your first bot.
Complying with credible industry standards, TradeSanta doesn’t make any promises about how profitable its operations are going to be for its users. Instead, it simply describes how its features could make it easier for day traders to carry out their day to day activities with a certain level of ease.
This doesn’t stray TradeSanta away from its objective of serving people or make it any less effective. Being transparent actually paints it as a credible entity, which only helps its case to those who are familiar with the unpredictability of day trading and the possible profits and losses that the mechanism brings with it.
If you are inclined to use a bot as a novice or expert day trader, then giving TradeSanta a chance wouldn’t be a bad choice.
Just make sure that you are keeping an eye on its features, ease of use as well as the results. These factors will help you decide whether keeping it as your primary trading tool is a good option or not.
🤜 Testing, Results, and Reports
I am testing TradeSanta bot with a real deposit right now. You can check my latest results and read my reports in this blog section.