TeslaCoin Review 2022 – Scam or Legit Trading Robot?

Your capital is at risk.

How Does TeslaCoin Work?

TeslaCoin uses a sophisticated algorithm to track movements in the prices of major cryptocurrencies. When the algorithm detects a pattern that it recognizes, it will execute a buy or sell order using the funds in your trading account. The algorithm will then continue to monitor price changes and will automatically exit your position for a profit or loss once the pattern starts to deteriorate.

TeslaCoin doesn’t specify how accurate its algorithm is at trading for a profit. However, the TeslaCoin website notes that some traders have earned as much as $5,100 in a single day of auto-trading, although we couldn’t verify this. Note that TeslaCoin only trades cryptocurrencies, so it is not suitable for investing in Bitcoin for the long term. Also remember that all trading carries risk. TeslaCoin could potentially lose money.

Another important thing we found during our TeslaCoin review is that your funds are held as TES, not as dollars or Bitcoin. This enables TeslaCoin to move in and out of transactions extremely quickly – crypto-to-crypto swaps typically take less time and cost less money than fiat-to-crypto swaps.

In addition, holding TES is significant because this coin is a relatively new digital currency. The price of TES is volatile and it could appreciate over time. In that case, you may be able to earn money from TeslaCoin simply by holding TES in your trading account.

TeslaCoin Key Features

Let’s take a closer look at several of TeslaCoin’s key features as part of our TeslaCoin review.

Exposure to TES Cryptocurrency

As we noted above, TeslaCoin holds the money in your trading account in TES when it is not being used for an active trade. TES is currently trading at $0.0024 per coin, but it reached a high of $0.17 in early 2018 – an increase of roughly 7,000% from today’s prices.

While there is no guarantee that TES will rise in value, you stand to benefit from an increase in the price of TES when you hold this cryptocurrency in your TeslaCoin trading account.

24/7 Automated Trading

Since TeslaCoin uses an algorithm to day trade crypto on your behalf, it can place trades in the crypto market 24/7 without ever taking a break. The platform is fully automated, so there is no need to manually enter trades or even monitor your account throughout the day. TeslaCoin recommends that traders check in for 15-20 minutes per day to see how your account is performing.

Trade Multiple Cryptocurrencies

TeslaCoin currently trades 4 cryptocurrencies: Bitcoin, Ethereum, Ripple, and Cardano. All 4 of these are major cryptocurrencies, in the top 10 digital currencies by market cap. So, there is a lot of trading volume and a lot of volatility in these coins, creating plenty of opportunities for TeslaCoin to open trades.

Demo Mode

TeslaCoin offers a demo mode so you can try out the platform and see how it performs without risking any money. Demo mode offers a chance to see what types of trades TeslaCoin would execute and what your profit and loss would be. It also enables you to modify some of the trading platform’s parameters in a safe environment.

Instant Withdrawals

TeslaCoin allows you to withdraw your funds at any time. The platform pays out instantly with no withdrawal fees. All payouts are in fiat currency, not in TES.

Your capital is at risk.

TeslaCoin Fees

TeslaCoin doesn’t charge any fees for using its platform. There are no deposit or withdrawal fees, and no commissions on the trades or profits that TeslaCoin makes on your behalf.

Note, though, that all trades may be subject to spreads charged by the cryptocurrency brokers that TeslaCoin uses. In addition, there may be small blockchain fees for converting from fiat currency to TES and back. These fees are not charged directly by TeslaCoin, but they can impact your account.

Is TeslaCoin a Scam?

One of the key questions we wanted to answer with our TeslaCoin review was, Is TeslaCoin a scam?

Our TeslaCoin review found that this platform is completely fee-free and offers a demo mode so you can try it out before risking real money. In addition, the trading platform focuses on major cryptocurrencies like Bitcoin that are known to be volatile and provide plenty of opportunities for fast-paced trading.

TeslaCoin claims that it can earn traders up to $5,100 in a single day of trading. We were not able to verify this claim as part of our review. Keep in mind that all trading carries risk, and TeslaCoin may lose money even if it has a high overall success rate.

TeslaCoin Minimum Deposit

TeslaCoin requires a minimum deposit of $250 in order to start using the platform. You must make this deposit before you can access any of TeslaCoin’s features, including demo trading mode. This money is yours and can be withdrawn at any time.

TeslaCoin Customer Support

TeslaCoin claims to offer support from a dedicated account manager after you join the platform. However, our TeslaCoin review found that there is no way to get in touch with customer support before you sign up.

How to Use TeslaCoin

Ready to give TeslaCoin a try? This part of our TeslaCoin review will walk you through how to sign up and start trading.

Step 1: Sign Up for TeslaCoin

Head to TeslaCoin’s website to sign up. Enter your name, email address, and phone number in the registration box, then click Register Now.

Step 2: Deposit Funds

TeslaCoin requires a minimum deposit of $250 when you sign up. You can make a payment by credit card, debit card, or bank transfer. There are no deposit fees at TeslaCoin.

Step 3: Start Trading

Now you’re ready to start using TeslaCoin. You can try out demo mode to see how the platform works and to play around with optimizing the algorithm’s parameters. Once you’re ready, activate live trading and TeslaCoin will start automatically buying and selling cryptocurrencies on your behalf.

The Verdict

Our TeslaCoin review found that this crypto trading robot is trades Bitcoin, Ethereum, Ripple, and Cardano automatically on your behalf. The robot trades 24/7 and claims it can automatically detect the most profitable patterns for trading. Notably, funds in your TeslaCoin account are converted to TES, giving you exposure to this relatively new cryptocurrency.

Remember, we couldn’t verify all the claims made by Teslacoin, so do your research and try the demo account beforehand if you use the platform.

Want to try trading with TeslaCoin? You can click the link below to get started today.

Your capital is at risk.

FAQs