TOP TRADING BOTS
Profit Trailer Bot Review 2023
The world of crypto trading is one of the most dynamic digital industries today. Naturally, this quickness of change sometimes does injustice to bots that fall out of favor for no reason.
Is this such a case or is there actually a solid cause in the demise of Profit Trailer? We’ll find out in today’s review.
Cryptocurrency trading is a domain that has witnessed explosive growth in recent years.
In a rapidly expanding digital industry, however, you either adapt to mounting expectations or risk falling into obscurity and making room for some new crypto bot faces.
Being a bot that works and brings in a steady income at a certain point in time is not enough.
Crypto trading is a zero-sum game and once the competition deploys software that is better than yours, your clients’ income will suffer until it goes into the red.
Crypto trading bots are better at day trading than us. They do hard labor around the clock, requiring no rest, leisure, or any sort of time off.
Plug them in and they’ll do your orders much quicker and much more efficiently. However, they need to be told precisely what to do, with updates to these instructions on a regular basis in order to reflect changes in the current market trends.
It is this ability to clearly instruct the bot what market fluctuation to take advantage upon coupled with regular maintenance and updating that keeps a crypto trading tool alive and popular.
So, what happened with Profit Trailer?
Is it a good crypto trading bot that has been unfairly put out of commission by more aggressively marketed software?
Had it been a well-performing bot until the eventual lack of attention caught up with it? Or it had little to begin with but got a span of attention due to lack of better solutions at the time?
In today’s review, we’ll check whether Profit Trailer really earns money for its users today or not. So, let’s begin with the initial steps, shall we?
What Is Profit Trailer?
ProfitTrailer is a crypto trading automation software that assists day traders by automating simple trading procedures in order to reduce the total time spent going through cryptocurrency exchanges.
Launched in Curacao, a Caribbean island, in 2017, Profit Trailer experienced a surge in popularity in the earlier days of Bitcoin rise and the rise of some other crypto coins.
It functions by connecting pairs across several supported exchanges and committing trade deals without the user having to be present and clicking.
Instead of relying on cloud-based technologies or browser support, Profit Trailer comes with its own app, which means that you’ll have to have a dedicated device that is going to run the software around the clock.
Profit Trailer claims to have more than 40 built-in indicators as well as direct access to TradingView alerts via its user interface, which sounds nice but doesn’t explain the recent fall out of grace with its users.
As every other crypto trading bot, Profit Trailer promises to earn money while you sleep or spend quality time leisuring, to closely follow the dominating trends in the market, and to help you quickly and effectively automate your trade in its entirety.
Bold words, but do they hold water? Let’s find out.
Ease of Use & Access
Profit Trailer supposedly caters to new users and inexperienced traders, but has some issues when it comes to adapting the complex world of crypto software to simpler interface and operations.
First of all, it is not the most accessible software out there because it requires software installation that may put off some users who will look for easier solutions.
The pre-configured VPS still has to be set up and those who haven’t had contact with such procedures will find that to be difficult. However, it gets easier on the eye afterwards with a customized dashboard that gives its best to appear accessible and easy to use.
Regarding the features of the bot and the requirements for their use, they are designed to be extensions of basic and generally used crypto exchange functions. So, nothing new, nothing that we haven’t seen before.
Most of these come pre-figured with a little leeway for those with more experience who wish to experiment, but do not expect anything revolutionary. Is it easy to use? Sort of, if you manage to overcome the hurdle of getting it to work.
A lot of things are tied to the cryptocurrency exchanges supported by a trading bot. For example, if there are few popular exchanges supported, the potential of a bot means little since there won’t be a relevant space to make the trades in.
Another factor is the number of cryptocurrencies available for trade, as larger exchanges house many types of virtual coins, while niche ones offer deals otherwise unavailable for trade.
That said, Profit Trailer at the moment supports Binance, Huobi, Bittrex, BitMex, KuCoin, ByBit, and Poloniex.
These are some of the most popular exchanges and make for a solid base of operations for the average crypto trader, so no real issues here.
Settings & Features
The main feature of Profit Trailer is its unique user interface which is designed to combine the various aspects of crypto trading and interaction with exchanges into a single, unified workspace.
It offers a clear overview of funds, pairs, potential trades, ongoing trades, and the bot’s current activities and strategies.
However, besides this quality of life improvement, there’s not much innovation in terms of effective trading.
Is this the reason why Profit Trailer has fallen out with its clients?
There are some pretty rudimentary settings that you can equip your bot with, such as “buy when low and sell when high” and vice versa and some other indicators also.
There are more than 40 of these, but when considering how simple they are, they do not really offer a satisfying sense of versatility.
It almost seems as if Profit Trailer has been stuck in late 2017 or early 2018. Things have changed since then and bots have emerged that offer a much bigger punch with much less effort required from the users.
Tough luck for Profit Trailer, it seems.
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With pricing things start to go a bit wacky, but you can get things figured out if you follow things closely.
There are free and paid versions of Profit Trailer. Free versions come individually for paper trading (all exchanges), Binance, Bybit, and KuCoin.
They do not differ much from each other and include live Discord support, running up to two bots, 3-5 stored configurations, 40+ buy/sell indicators, paper trading, notifications, and statistics.
You can look at these free versions as free trials, crypto trading lite, or something along these lines. You won’t get much but you’re not required to invest anything.
On the other hand, the paid versions of Profit Trailer include Signals Edition, Basic Edition, and Advanced edition, all three unlocked for all supported exchanges.
The Signals Edition comes from €30/month and includes live Discord support, running up to 2 bots simultaneously, 3 stored configurations, only the Signal indicator, advanced paper trading, signal subscriptions, 2 months free TV addon, and 2 months free signals.
The Basic Edition costs €49/month (or €799/lifetime, if you’re willing to place some blind trust) and includes live support on Discord, 2 bots, 5 stored configurations, 40+ buy/sell indicators, advanced paper trading, and signals subscription for all exchanges.
The Advanced Edition upgrades the Basic Edition offer to include 10 stored configurations and advanced stats. It will cost you €69/month or €999/lifetime.
It is not entirely clear why anyone would pay the lifetime price for such a type of software, but it would explain perhaps the core membership that remained after less obliged users abandoning the ship. Who knows?
TOP TRADING BOTS
Community & Reputation
The growing lack of popular support and a diminishing community are most often a sign of something going wrong, and that’s exactly what happened to Profit Trailer.
It has fallen into obscurity, with a platform that hosted more than 30,000 users at a point in time now reduced to a membership that counts only a couple of thousands.
It has an active and official Discord community, as well as a private Telegram group and a subreddit with about 1,000 members (of which only one was online at the time of the writing of this article).
It has an average score of 4.⅕ on Trustpilot.com, but this comes from only 14 reviews in all these years.
We don’t know exactly what happened, but the fact remains that, for this reason, or that, the Profit Trailer community crumbled.
After a thorough analysis of ProfitTrailer, we can safely assume that, although it has some merits and we should give credit where it’s due, it lacks functionality, support, and reputation of some other, more accessible, and generally better crypto trading bots in the same niche.
Quadency and Bitsgap, for example, excel greatly over Profit Trailer in terms of provided features, ease of access, the complexity of execution of trade deals, and nearly every other aspect of crypto trading automation.
There’s really no justification to stick to Profit Trailer anymore when the competition has left it in the dust.
Sorry, Profit Trailer. Better luck next time.