We have come across one of the most popular Bitcoin trading robot called Haasbot. We felt that it was over-rated since the developer is quite active in Bitcoin trading forums. He appears to be very confident on the abilities of Hassbot trading robot.

On top of this, there is also good community feedback around this software. But before you can pay 0.6 Bitcoin to have the owner sending the download to you, there are things you have to know first. Perhaps you also want to be sure that Haasbot will not be a waste of your money, right?

Haasbot review

What exactly is Haasbot, and why is it that the developer is so confident about the abilities of this trading system?

Well, Haasbot is a Cryptocurrency trading robot with 3 different modules. These include trade bot, order bot and arbitrage bot.

There is more than one license type, and each one of these licenses is supposed to give acess to the 3 modules of the software in question.

According to this developer, Haasbot is supposed to let users trade various altcoins in all major exchanges across the internet. Specifically, they claim to have partnered with exchanges such as Bitstamp, BitMEX, Bitfinex, Kraken,  Huobi, Gemini just to name a few.

The developer has even documented this software on the wiki segment of the website. That means we can see every work that has been done on this software ever since it was launched.

There is also 24/7 support which is provided on the website and forum too.

According to the developer, Haasbot is the most advanced and commercial available trading robot for Cryptocurrencies.

We would certainly appreciate it if these claims were made alongside proof of performance. What we certainly don’t understand is why this developer has gone through the pain of professionally presenting this product yet they missed the part which demands them to show back-tests or performance of the robot in question.

This is something we are very curious about. If this software is already generating so much buzz out there, it surely must have users who paid for it and are using it to trade altcoins as claimed by the developer.

We want to hear from these subscribers too rather than just relying on one side of the story.

The 3 modules

These 3 modules make Haasbot an allegedly powerful Cryptocurrency trading robot. The Trade Bot is one of the 3 parts of this software. It consists of indicators, insurances and so-called safeties.

Indicators and safeties are the parts that generate signals while insurances deal with trade conditions and when to buy or sell once indicators have produced a signal.

The developer claims that with the insurances element of this software, trading fees can be avoided (not sure how this can happen though).

Now, one of the most interesting things here is that Haasbot is equipped with over 20 different indicators. Moreover, users can either choose to use one or multiple indicators to generate buy and sell signals accordingly.

Unfortunately, the developer says that configuring these settings on your own could result in dismal performance of the robot if you’re not an experienced trader already. In other words, they are saying that Haasbot isn’t the best robot out there for newbies.

Thankfully, we already have the answer to this problem. Just sign up with these Cryptocurrency trading robots because they are suitable for both newbies and experienced traders.

Now, there is the mention of ”safeties”. This is a feature which the developer claims will be used for generating sell signals. What is their job?

Apparently, the job is to protect you from what is known as ”market crashes”. We are really not so sure what this developer means by the phrase market crash.

Markets cannot crash. You only get kicked out of the market when you make a wrong decision while entering the market. That’s it. Any other phrase or phrases added used to describe the working of a software only serve to complicate the matter further.

The other element of this robot is the arbitrage bot which we feel was worth mentioning here too. This one monitors the relationship between determined altcoins and the base currency.

It allegedly determines whether the pair in question is directly tied to a base currency or by some other chosen altcoin.

Once the relationship has been established, this part of the algorithm is supposed to keep watch of any price differences which can generate profit. If a change occurs, this part of the algorithm will take appropriate action to enter the market.

And of course this developer has allegedly incorporated what they are calling an order bot. They claim that this order bot is designed to fulfill specific conditions that take the order ”If price behaves like this, buy or sell respectively”.

You can allegedly weave this into the technical analysis of this robot to create a highly customizable trading bot for altcoins. You can allegedly work with support and resistance too in relation to the set pre-orders.

A very important issue is emerging here. We are seeing that working with this order bot is something that only a professional trader can do. The so-called pre-orders cannot be utilized if you know nothing about trading.

Secondly, the so-called pre-orders are not a guarantee that money will be made in the long run. Even professional traders can sometimes use robots to make decisions. These robots only help make their work easier. It does not mean that profits will be guaranteed.

Issues that we need to bring to your attention

We have taken time to go through some user feedback about the Haasbot software. One of the concerns from people like us who are skeptic is that this robot could be having a trojan or virus installed in its script which automatically steals your Bitcoin.

For that reason, a number of users have asked the developer to give a copy of the script for inspection. Apparently, this is something they have not done because they are claiming it could result in malicious people stealing the robot’s code.

Another concern here is that, after the developer has done all the marketing and explanations, they are stating that traders should buy this robot for 0.6 BTC based on trust.

The question is, can you trust people online for simply being too good at marketing?

If someone gave you a good explanation on what they are offering, you would buy the product if you only got convinced of the fact that they are selling a good software.

In this case, the developer of Haasbot is only saying that trust should be cultivated among potential buyers in order to see that this project is a success.

Why are they selling this robot if it’s that good?

We appreciate the fact that the owner of Haasbot is at least honest about their project. They claim that the reason why they are selling is because they are a software developer by professional and not Cryptocurrency speculators.

To allow them continue with what they love to do, they hope to make some coins with this robot.

Our best advice for you

Haasbot is a little bit costly, and secondly, the developer has not produced any proof of trading performance. Otherwise, this robot would have been a good contender for our list.