NapBots Review: Pros, Cons, Recommendations

NapBots provides access to automated crypto indices and bots that enable a hassle-free trading experience. Beginners and crypto holders can choose from the top crypto indices while day traders have access to a diverse range of pre-built bots. As per the vendor, the platform has strategies that suit all styles and levels of investment.

NapBots overview

NapBots is a platform offering trading bots. It develops profitable trading strategies which are made available to users on its unique marketplace. The bots execute automated trades via API connection with the supported exchanges of the platform.

Automated trading at NapBots: how does it work?

Choose from the bots offered on the platform. From the available list of supported exchanges, you can choose an exchange of your choice and connect to the bot using the API key. The platform offers a unique marketplace that offers users a diverse range of strategies to choose from. The bots work on your behalf and trade 24/7. Users can rebalance their portfolios in a few seconds.

NapBots bot features

The key features of the platform that the vendor focuses on are listed below:

• You need not have experience in trading to use the platform. You can select from the list of approved and pre-defined bots and let the bots do the trading.
• The user interface is easy to navigate making installation and use of the bots a breeze.
• A central account on the platform lets you manage your accounts on different exchanges.
• You can also copy presets from skilled traders shortening your learning curve.
• The top crypto market indices save time and minimize risk.
• Test the performance of the bots using the simulation feature before you use real money trading.

NapBots trading strategy: trend, mean reversal, and more

The bots use various strategies including long-only and long-short methods. A combination of trend following and mean reversal approaches are used. The packages offered on the platform provide sophisticated strategies from which you can choose one or create a combination of the methods. 

Steps to follow to trade with NapBots

Here are the steps needed to start trading on this platform:

1. Connect your trading account with the platform using the exchange API key
2. Choose a strategy of your choice or create a blend of strategies
3. Pick a pricing plan from the packages available
4. On activation of the software, the bots will start trading for you

NapBots fees & account minimum requirements

A free trial for 7 days is present. The pricing plans are simple with no setup fees and include a monthly and a yearly plan. The Silver Plan (€19/month), a Gold Plan (€49/month), and the Platinum Plan (€99/month) are the monthly plan prices. Features provided include an unlimited number of indexes, exchanges, and weekly bots. Access to new strategies, email, and phone support, and maximum investment capacity ranging from $1000 to $5000.

Exchanges compatibility

The main supported exchanges on this platform are:

• Kraken
• Binance
• Bitfinex
• OKEX
• FTX
• Huobi

Coins supported

As per the vendor, the platform supports many crypto coins including BTC, ETH, LTC, etc.

NapBots performance 

The vendor does not provide details on the performance of the bots. We could not find a verified track record for the platform.

How to withdraw your funds with NapBots?

The platform does not handle deposits or withdrawals of funds. Your funds are held in your exchange account.

Is it a costly crypto trading tool?

When compared to the market average, we find the pricing plans are expensive. Further, the absence of a refund offer makes us suspect the reliability of the system.

NapBots security and safety

As per the vendor, the platform is safe and secure as your funds are not accessible by third parties or the platform. Your crypto assets remain safe on your exchange account.

NapBots regulation and legitimacy

The vendor does not provide info concerning the regulation and licensing details so we are unable to evaluate the legitimacy of the platform.

NapBots team members

Founded in 2020, the company is a trademark of Napoleon Software, an affiliate of Coinshares International Limited. The offices are located in London, UK. Team members consist of skilled quant traders experienced in the management of assets worth many billion euros at tier-one financial organizations.

Is NapBots customer support good?

For support, the vendor offers an FAQ section, an email address, guides for installation, registration, etc., and an online contact form.

User experience

The interface is user-friendly making the platform ideal for use by beginner traders.

Is choosing NapBots the right choice for you?

With diversified features and a user-friendly interface, the platform is a good choice for beginners. However, the absence of info on the regulation and lack of performance proof are downsides in the service.