Besides the regular household names in the crypto trading automation software industry, a fresh influx of software is steadily growing and vying for the attention of beginner and seasoned day traders alike.
Autonio, an Asian contender for the list of profitable crypto bots, has started catching on and in today’s Autonio review we’re going to see whether Autonio has what it takes to win in the great market trade or its success is yet another story with little basis in reality.
Due to the openness and the decentralized nature of the crypto market, almost anyone can claim to have created a successful crypto trading automation software.
However, it takes more than mere claims to actually create a reliable and steady source of income for the crypto trading bot users.
A crypto trading bot is a common sight today when the cryptocurrency market is booming. A successful crypto trading bot, on the other hand, is significantly harder to come by.
How does Autonio fare in the grand scheme of things? Is it a successful bot? By the end of this Autonio review, we are going to find that out.
Autonio Review 2023
Autonio represents a decentralized, artificial intelligence-powered crypto trading platform that aims to assist day traders by having them rely on a fully-automated platform that operates with little to no human interference whatsoever.
While the idea is ambitious, the concept has been developed with Wall Street’s automated HFT (high-frequency trading) practice as the core on which the neural network of Autionio has honed its skills.
The goal for the Autonio crypto trading bot is to become the first decentralized system designated for trade automation, the goal of which is to help small players tackle the big names and thus disrupt the status quo.
Day traders using Autonio have a degree of freedom when it comes to selecting and coupling together different trading indicators to conform to the shifting market circumstances, although not very much since the platform is streamlined to help people with insignificant coding and trading skills perform their strategies in the market.
In either case, the ideas are automatically executed by Autonio’s bot, relieving the human traders at their posts and giving them back their spare time.
Being around 24/7 and immune to physical needs, shifts in mental focus, and emotional reactions, the idea behind Autonio is the same as behind every other trading bot – perform the task of flesh-and-blood traders, and perform it better.
That is the pitch for this trading ecosystem, at least. Does performance catch up with the narrative? Let’s continue with the Autonio review to find out.
Autonio Trading Bot
As mentioned earlier, the Autonio trading bot is a decentralized, artificial intelligence-driven automation software.
Although this sounds cutting-edge, innovative, and powerful, it comes with a unique set of drawbacks which are perhaps not immediately obvious.
Having AI analyze the market, come up with its own research and signals, and devise its own strategy based on the results completely removes users from the equation.
This is perfect for people without experience in the crypto trading market.
They do not have to do anything except to hook up the API with the exchange, wind up the bot and let it go about its own business.
There is no room for error if there is no room for human interaction, right?
However, this arrangement does not suit everyone.
People who have spent a certain time in the industry know that some basic features and settings require tweaking and customization for optimal performance, and optimal profitability.
These veterans will likely find many faults in Autonio’s pre-coded and predetermined features.
Ultimately, every customized trading bot on the market will beat Autonio’s generic scripts given the same field of play.
Accessibility vs. Performance
When it comes to accessibility, it goes without doubt that Autonio is meant with beginners in mind and has thus invested a significant effort into making the platform rookie-friendly.
To start with the graphical interface, it is simple and offers elegant solutions that seem to evolve naturally from the platform due to smart use of the color scheme and infographics that are easy to understand.
The information is presented in a clear and well-structured way.
There is one issue, though: Autonio is an Asian software company and English is not the native language of the development team.
It becomes apparent upon closer inspection that instructions are translations and as such prone to mistakes and weird formulations that can cause confusion with users who do not speak e.g. Mandarin Chinese.
Speaking of inadequate localization efforts, the community is also almost exclusively Asian, so communication, from customer support to finding instructions for strategic approaches to scripts and crypto trading bots can quickly become an issue.
Language aside, the whole accessibility approach, as mentioned before, suffers from crudeness.
Lack of customization options severely limits the performance of Autonio trading bots, which cannot be emphasized enough in this interview.
Even if you find Autonio’s automated approach as only adequate due to your level of experience, you will quickly learn enough to see that you will earn much more by opting for something more advanced in performance, such as Pionex or Bitsgap.
This review would be everything but honest if we skipped that part.
Leaderboard and Trading Strategies Marketplace
Another Autonio feature that has found its place on the platform is the Strategy Leaderboard.
In the spirit of copying automated trading strategies, Autonio promotes copying the successful strategies of other traders if you, well, do not know how exactly a successful strategy of yours would look like.
This is a welcome feature for newbies as it allows them to earn their share of the spoils without having to invent anything of their own, however they have rent out these strategies and purchase the rights to use them in NIO, a specific cryptocurrency invented by Autonio and promoted on their crypto exchange.
Supported Crypto Exchanges
Autonio does support a few crypto exchanges, including Kraken, Bittrex, QuadrigaCX, Bitfinex, and Bitstamp.
However, it also has one of its own, which works as a hybrid of centralization and decentralization policies where “superfluous” features get done via the central unit, while “serious” stuff remains decentralized.
Although it sounds efficient, this state of affairs leaves a lot of loopholes that can be used and abused by third parties.
With that in mind, it is perhaps best to stick with other exchanges, if possible.
Not much philosophy about pricing with Autonio. There is a single monthly subscription price, which is $50 per month, and it unlocks everything.
Is the price justified?
If things were as-is, that could be taken into consideration. However, this review tends to show otherwise. Let’s conclude.
Autonio Review Verdict
So, Autonio, the fully-automated, AI-driven, easy-to-use bot. Sounds awesome, but is it right?
Sadly, the answer is far from positive. A number of issues plague Autonio from beginning to end.
First, the idea is oversimplified from the start. While fully-automated trading seems ideal to beginners, it leaves a lot to be desired from the perspective of optimal performance on the market.
A questionable approach to cryptocurrency exchange security and privacy policies represents an ever-present hazard to everyone who provides personal information to the parties across it.
The company has swapped a large number of websites in a short amount of time, ostensibly for rebranding, but possibly also due to scams or evading the fallout of a security disaster from before.
Non-existent English-speaking community, weird tidbits that pop-out on their official website, and all other sorts of oddities and red flags marr this software agency with suspicion and controversy.
No sensible and honest Autonio review could recommend such a product, even if it performed splendidly on the market.
Which it does not. On the contrary, there are a number of solutions that outperform Autonio even during the conceptual phase of the battles of ideas.
Pionex and Bitsgap, for example, offer a much higher degree of customizability and adaptation of predetermined features while preserving the user-friendly policies that work but do not twist the reality of the market circumstances.
Rather than spoon-feed their users with automatic solutions, these encourage learning and adaptation, with a guiding hand both from the platform and from the plentiful community of fellow day traders.
Ultimately, this review shows that Autonio is not the right crypto trading bot for you. Of course, you may disregard our warnings and try it out for yourself, but remember, it is your funds that you are risking, not ours.
However, do consider Pionex and Bitsgap first. As software products with a legacy and reputation to maintain, they could never afford themselves red flags such as those shown in Autonio.
As sources of steady, reliable, and substantial income for those traders willing to make a career of dealing with cryptocurrency, they are perfect points of entry into the industry, as well as an ideal source of potential and performance that can sate even the most seasoned of crypto trading veterans.
Give them a go instead, if you ask us.