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Go Arbitrage Review: Is this Crypto bot a Scam?

Go Arbitrage Review: Is this Crypto bot a Scam?

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Go Arbitrage website at goarbitrage.info touts automatic earnings on Crypto currencies with arbitrage strategy. Have you noticed how common these bots are lately? It is because scammers are taking advantage of the wave because they know that gullible traders think arbitrage trading is an automatic way to riches. In this Go Arbitrage review, we will analyze the robot in details before making a conclusion. If you intended to use this bot, you need to stop and think again because clearly this bot has some interesting facts to talk about. If you are looking for a decent trading bot to use for trading Crypto currencies, check out this list of what is available for serious traders out there. 

Go Arbitrage review

There are a lot of features which they are touting on this site. We know that the idea of this bot is to trade using a strategy called arbitrage trading. They explain using the following statement on their site: ”The bot (program) does not transfer crypto-coins from stock exchange to stock exchange, as it is no longer relevant, when transferring coins, the exchange rate can change a lot. It simultaneously makes a deal on two exchanges for one pair, where the first exchange currency/coin is sold, and the second one is bought.”

They also claim that Go arbitrage bot constantly monitors exchange rates(on a glass) waiting for the moment when there is a difference in currencies between exchanges for arbitrage. You can independently select and connect the exchanges, crypto-currencies you need. You can see all the work of the bot through the web interface.

It is allegedly a safe bot to use because it connects with exchanges through an API. This is how all bots are supposed to connect with the exchanges where they trade. This is the information that is available on the site at this time with regards to security of funds. ”You do not give anyone access to your wallets and accounts. You work directly with exchanges through API interface. It is possible to conduct logs about transactions through the telegram bot, where, at any time you can follow the transactions through your smartphone.”

They tell us that arbitrage scheme of trade is very profitable in the world of crypto currency. Static profit of their users from 19% to 235% per month. We hope these claims can be backed by proof of performance because throwing numbers around just like that does not help unless there is proof that users are making money with this bot. If this is the case, we should see a lot of consumer feedback popping on the internet as people discuss what this robot is capable of doing. Since there is no feedback on the internet regarding the performance of this bot, we can only rely on proof of performance (if that is available). Otherwise, we think those profits are on the higher side. It is not possible to make those returns in any given month because trading is not a get rich quick scheme.

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They also claim that Go Arbitrage is fully automated. That is how all Crypto currency trading bots are supposed to work. The last thing they tell us in order to persuade us to buy the app is that with this Arbitrage Strategy – it works for our benefit. There are no risks and losses. Definitely such  a statement is very ignorant. You cannot expect that trading can go smoothly without subjecting trades to risks or losing money in the process.

How it works

The bot is using the Crypto currency market for trading. This is an example that the developer has provided on their website:

Example of 2 coins
Bitcoin and litecoin on stock exchanges.
• Exchange 1: BTC. as a goal for profit in a bot.
• Exchange 2: LTC. instrument (secondary coin)
This is the minimum plan for a small deposit. Only 2 coins and a deposit are divided 50/50

Script (Scenario.):
Bot hunting for a break in > 1%
When a gap occurs > 1%, bot buys ltc for btc at exchange 1 , and sells LTC for BTC on the exchange 2.
The deal is closed for less than 1 second. the entire deposit in positive territory is 0.5%(since it is divided 50/50, BTC,LTC)
Automatic balancing of deposits is in progress.

To get started with the Go arbitrage bot, one has to create an account according to this description: Create an account on at least two exchanges,which bot supports. Then you need to create API keys. Buy the necessary coins for arbitration.

The second step is to download the app according to these instructions: Install the license key (token) and make the bot settings. Launch a window with logs , from the browser. For example, 127.0.0.1:8000, if the server then ip_server: port.

The third step is to let Go Arbitrage start trading. This is what they are saying with regards to this matter: Connect a telegram bot to track transactions and profits, and while you can ‘masturbate’. Notice the filthy language which the developer is using. This certainly means that the owner of this site is not professional and definitely he is about to screw you up if you purchase this bot.

Pricing of Go arbitrage bot

You can choose the first plan which costs $99 per month, or the second one which costs $220 every 3 months or the third plan which costs $800 per year. There is no lifetime license plus each of these plans can only connect with up to 20 exchanges.

Should you buy a copy of this bot?

This is the worst decision you can ever make. This bot appears to have been created by jokers and not serious developers who can be trusted with serious work. There is no trading performance to prove the monthly returns which they are touting on their site. If they had records of their performance, it would have been much easier for us to trust them.

Our best advice for you

Avoid like the plague. Go arbitrage is not the kind of robot you can trust for your investment. Visit this page if you are looking for a proper trading tool. 

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