GoodCrypto Review: Superior Trading Solution Or a Software Flop?

With AI development gaining more momentum than ever, advanced bots and algo trading solutions are starting to pop up all over the ‘net. While some firms provide excellent tolls and amenities, some are total shams that basically rip you off. Which group does this one belong in? Find out in our GoodCrypto review!

GoodCrypto App Makers

Developed in Ukraine in 2019, GoodCrypto portfolio tracker and trading software was originally launched by Maksim Hramadtsou, founder and CEO of the company. The app is available for direct download for free on App Store and Google Play. 

As strong believers in the bright future of crypto trading, the team intended to develop an app that would combine a variety of services directed at facilitating crypto investing. 

This all in one app is meant to revolutionize DEX trading, but it certainly is not the first non-custodial DEX trading bots platform, as the website claims. 

Our greatest worry in the whole story is the fact that the company owning and operating the site is GoodC International Ltd, which is unknown to the public outside the story of GoodCrypto.

Security Levels

The software itself is said to be built on API keys. These are claimed to be protected behind encryption and a strong firewall. 

The server itself possesses multi-tiered architecture with backend services also encrypted and firewalled. Each account is also guaranteed to offer multi-level protection with a special system detecting unusual behavior. Lastly, cyber security experts are mentioned to be involved in the regular security audits. 

While all of these statements are easy to use in order to make the site look more attractive and the service providers seem utterly educated and serious, there’s always doubts. Especially because for a 4 years old company, this business is known to no one. 

Viral Advertising Strategy

Social networks have become a household thing over the years, and many prolific and legitimate companies like eXcentral have their profiles, and even advertise on various sites.

The company we’re discussing today has a verified profile on LinkedIn and Medium, and hosts an official chat room on Telegram. Besides these, there are also Facebook, X, CrunchBase and YouTube links present as well, yet the company strangely did not put them on their own website.

GoodCrypto Reviews: How Happy Are Clients?

Users on the TrustPilot rating site are divided, with one group talking about how great the customer service is, when at the same time the other group complains about being unable to cancel subscription, implement the promised software, or contact support in the first place.

The main problem was not the great disparity between various clients’ comments, but how difficult it is to actually find any personal experiences online. There’s a whole Reddit board with the sole purpose of finding any first-hand experiences with the software.

While the company has their own official board on the same site, they stopped updating it months ago, which doesn’t instill much confidence.

Services Offered

The wide range of services included are not exactly verified or confirmed for their effectiveness. Here, we’ll just briefly go over some major features and mention the most notable ones. It remains a question how reliable and competent they are in the sea of similar options and tools provided by a vast number of companies with no transparency shown.

API Keys

The software enables you to log in to different exchanges through one single discrete app. The number of supported exchanges is truly large, with even the free access allowing up to 35 separate exchanges to be accessed simultaneously. Some of them include Binance, KuCoin, Coinbase and Kraken.

Trading Strategies

One of the central places in the entire offer is reserved for the crucial part of every successful price prediction and speculation – viable strategies. 

Some of them are already known to more experienced traders. Nonetheless, indicators like Day and Swing Trading Indicators, Stochastic Oscillator (STOCH), Momentum Indicator and others are valuable equipment.

Trade Bots

A variety of trading bots is available for the clients. While the bots are generally available for nearly all of the supported platforms, cross-platform use is not available.

Here’s an overview of several popular types:

• Grid
• DCA
• Algo
• Infinity Trailing

Trailing Stops

Majority of traders spend enormous time trying to determine the right moment to act on markets. Trailing Stops are promised to do that for you while reducing the risk and increasing the winning potential. More popular ones are certainly the Binance Trailing Stop, Coinbase Pro Trailing Stop and Kraken Trailing Stop.

Stop Loss

Stop Loss Order is the most significant in the sense of protecting your portfolio from suffering losses. This can happen when the price unexpectedly moves in another direction, different to what you predicted. Again, mostly advertised ones are Binance Stop Loss Order, Coinbase Stop Loss and Crypto.com Stop Loss.

Signals

Another need for technical indicators is the detection of signals. Newbies that cannot handle the complex technical analysis yet are led to believe they could rely on the GoodCrypto Bearish and Buy signals generated automatically. None can guarantee their profitability, however. 

Learning Programmes

While providing education is always a welcome addition to any platform, there are certainly companies that did it better than GoodCrypto.

In all honesty, the material is high-quality and goes into great detail, but there’s only so much of it. In the end, it all boils down to covering the basics, and a few comparison of services you can expect on different exchanges.

Costs of the Plans

Two basic subscription packs available are:

• Free
• Pro – $14.99/mo or $99.99 per year or $399/lifetime

Now, depending on what you’d like your plan to include, the price may warry as there’s plans with some additional tools included. Others may allow connection to more exchanges, portfolio management and software, as well as higher referral bonuses.  

Affiliate Program

Some of the included benefits are rebates as high as 50%, various trading volume payouts, as well as various subscription discounts.

The firm actively encourages building a complex referral network in a manner similar to how an MLM functions, which does raise some eyebrows. That said, these referral programmes are common with regulated firms like City Index as well.

Summary

Various crypto trading tools may up your game when it comes to generating profits, but every seasoned investor will tell you that knowledge is power. We are looking for those retailers who have the talent and the experience, and are looking to make a step further to bolster their portfolio.

We’ll set you up with as much as $180,000 in funding through one of our prop trading accounts, so you can get one step closer to your goals!

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