ETHBOT is supposed to be an algorithmic cryptocurrency trading software that uses various strategies to make money.
Strangely, the robot is free. So, can you really make money for free using Ethbot?
ETH Bot scam
The main “selling” point of the robot is that it is free, you can even try it in a demo mode. But here is the catch, the demo is totally fake.
The demo is faking results, it is generating fake profits to make you believe that ETH Bot is profitable. But it is not.
As you can see on our picture, the robot will transform clear losing trades to winners, which creates very misleading overall results. The price curve of the highlighted trade went up, so a put option trade should have been a loser, not a winner.
What’s a little bit funny is that scammers who run this robot admit in the disclaimer that the robot is in fact just a game that is not simulating real market conditions, it is just generating profits that would not happen in real trading.
This is a very dirty trick used by many scams. It is general knowledge that the majority of people don’t read disclaimers, so they will just use the fake demo and get the wrong impression that ETH Bot is profitable, meanwhile the opposite is true.
The real goal
They will push you to deposit at least one ether, which is currently more than $600. The reason is that people who run this scam are paid by this shady broker for referring new depositing customers. That’s how it works.
Now you know that if you deposit and let ETHbot trade with your money, you will lose it.
ETH Bot is a dirty scam with a demo that fakes trading results, stay away from it!
If you want to make money in crypto trading, open a genuine free demo with a regulated broker and start learning. You will have to build a profitable strategy on your own.
If you don’t manage to be profitable on the demo, don’t switch to real trading.