Easybot is one of the fast-rising cryptocurrency trading bots out there. Cryptocurrency trading bots are advanced programming software used to automate cryptocurrency trading.
In other words, the offering of EasyBot is essentially to buy and sell cryptocurrencies in such a way the best returns are gained from a particular trade. However, many crypto scammers have taken advantage of the rise of automated trading to create fake bots with an artificial pyramid scheme to cart away huge funds from gullible crypto investors.
In this view, a lot of people want to know if Easybot is a scam, especially considering its referral network revenue stream, or whether it is authentic. This article has been developed to unravel the truth of this assertion. To begin with, Easybot is similar to many cryptocurrency trading bots out there but targeted to make automated trading easy.
Easybot is NOT a scam because the profitability of compound trading is authentic and measurable. However, what makes many investors bat an eyebrow at Easybot is the high Advanced paid plan, High/consistent ROIs, Pyramid Component, and that it is based in Dubai – home to many breathing crypto scammers.
In the rest of this post, we will critically look into these factors to see whether or not they factor in Easybot being a scam or not. So, I encourage you to keep reading so you don’t get half-baked information.
One characteristic of Crypto bots is that they can constantly scan and analyze several factors including market data, historical charts, latest trends, and announcements that can potentially affect the price of a particular cryptocurrency.
Easybot performs these functions, and so, works on behalf of the investors. Before going into actual details, let’s have an overview of where the bot came from.
Background Info of Easybot
The official domain of Eazybot is eazybot.com and its inception can be traced back to 2018. Eazybot company is based in Dubai Silicon Oasis, Techno Hub 1 Building office No. 173, Dubai – United Arab Emirates
The software was born out of the idea that crypto appeared to be hard to learn, confusing to understand and laden with risk for too many people. The digital solution company, EazyBot, was established in 2021 and founded by Mohamed Ali who is also the CEO of the AI trading software company.
However, Ali claims that he was working in the elevators and escalators’ new installation industry before reinventing himself as a crypto geek but his LinkedIn profile doesn’t divulge much information, nor does EazyBot’s website.
Following investigative questions asked, I gathered that Ali, with his professional training as an engineer and his passion for numbers, teamed up with several crypto experts and product engineers to develop a strategy that eventually saw their trades and portfolios begin to grow and perform once again.
Unlike many bots out there, EazyBot was created from the pain gotten from a relentless losing streak in the market.
The outcome of this innovation is that investing in cryptocurrencies, even with little or no experience, has now become as easy as operating money in your familiar bank accounts.
How Does Easybot Work?
It is important to note that the Easybot company does not sell any physical goods or services. Instead, in addition to the crypto trading AI, they have an affiliate program that users can promote, refer others, and earn commissions.
This means that, aside from the automated trading offering, you can potentially rake in more dollars by getting more people to utilize the AI tool. This suggests that they are giving securities. It is one earning aspect that many users have focused on – and even lost interest in the AI function of the bot.
Due to the presence of an affiliate component in Easybot, a lot of potential new subscribers assume that the bot is involved in a pyramid scheme.
Does Easybot have a Pyramid Scheme?
By definition, Pyramid schemes are illegal. This is when corporate entities, under the pretext of selling tangible or virtual goods and services, rely solely on the recruitment of new members to generate their revenue. Businesses that survive with pyramid schemes usually end up failing as soon as the number of potential recruits drops, eventually becoming a waste of time and money to many investors who are involved in the scheme.
Easybot, on the other hand, runs a multi-level marketing program. In other words, the company primarily survives from the revenue derived from subscriptions made when users pay for an advanced VIP plan that has better trading offerings than the basic/free plan.
The trading bot company realized how people loved the service and were rapidly buying the bot. They saw this as an opportunity to make their current users earn more while encouraging new customers. And so, the MLM plan is to allow users to have more revenue streams aside from the automated trading aspect.
How to identify crypto bots with a pyramid scheme
Generally speaking, six factors can be used as a yardstick to determine if a bot is a pyramid scheme or not.
1. Cryptocurrency trading bot company with a pyramid scheme will solely rely on its main source of income being the recruitment of more and more people.
2. When the company tries to sell a product as a front but puts greater pressure on members to gather recruits, then they are probably running a pyramid scheme.
3. There are many crypto bot companies that focus more on recruitment rather than marketing company merchandise. If you come across one, you should know they are running an illegal pyramid scheme.
4. A crypto trading bot company that claims not to be running a pyramid scheme should be able to earn through product sales. Consider it a red flag if the bot only makes significant cash through commissions from the sales made by new users you recruit.
5. Another obvious characteristic of crypto bot companies that run pyramid schemes is that they have exaggerated income claims and exorbitant earnings.
6. Lastly, despite the advantage reeled by Easybot promoters, the trading bot does not promise a six-figure income or thousands of dollars per week. Crypto bots that promise insanely high-income potential in weeks are trying to entice you.
What is Easybot Product(s)?
As mentioned earlier, Easybot does not offer any physical product. It is a virtual AI tool that is applied for cryptocurrency trading to automate the buying and selling process in a way that profit is maximized beyond human intervention.
This is the main item of their product, but on the side, users can earn commission by inviting their friends and family who are also interested in automated trading to use the tool.
Indicators that prove EasyBot an authentic crypto trading bot
As seen in every investment market, some individuals want to make a clean profit, while some others sell lies for personal gains and to the detriment of others’ purses.
While there are many crypto geeks out there using bots as a pretext to hoodwink novice traders or investors, I have been able to unravel the Easybot trading bot as an authentic AI tool for automated trading using these key pointers that are often discussed on popular crypto forums online:
- High Advanced paid plan
- High/consistent ROIs
- Affiliate component
- Zero Human intervention
High Advanced/VIP plan subscription: EazyBot membership is available at three price points: Free, Novice and Pro VIP. The Novice plan costs $250 annually, While the Pro VIP cost $995 annually. What makes these plans different is the number of exchanges you can integrate them with, and access to certain tutorials and their advanced 1-Click Strategy Set Up. Many other crypto trading bots that are scams will not even provide an opportunity for a free plan because it doesn’t help them to achieve their scrupulous ambition.
High or consistent ROIs – I have come across many fake trading bots and one thing that harps on their similarities are that they promise high or consistent returns. Easybot emphasizes the volatility of the crypto market, instead, proferring a way to deliver reliable profit margin admin crypto winter.
Affiliate Component – One thing we know about many fake crypto bots is that they promise more income and more trading strategies coded into the bot if you refer others. A lot of people have confused this with the MLM program run by legit companies. Easybot does not run a pyramid scheme, for one, because its primary reliance on income is not from referrals by active users.
Zero human supervision – Some trading strategies do require quick actions and calculations. Since humans cannot perform such trading strategies, AI tools like Easybot comes to aid. However, the most successful trading strategies still require constant supervision and guidance from experienced high-skilled human traders.
Many fake bots would claim that they are completely automated. You should know they are scams. Easybot appears not to be a scam because certain human inspection is needed, for instance on tracking profit margin.
Reviews – One of the important things to do before using or buying any bot is to go online and read reviews. It is a plus that Easybot is one of the most talked-about bots out there so there is tangible information about the bot. You can visit reputable crypto new websites like easybot.trade and forums and search to see what others have written about the bot.
Can You Really Make Money with Eazybot?
It is possible to make money with Eazybot aside from being willing to recruit friends and family via the affiliate commission earning plan. I encourage you to read my recent article HERE where I demystify how to practically calculate the percentage of profit generated by this bot on the back office (user interface) of the software, especially as a greenhorn to the use of the bot.
The Easybot also runs the Many MLM system and these schemes are legal. However, some crypto companies take these as pyramid schemes which are illegal operations that work as pyramid schemes.
How to Verify the Authenticity of a Trading Bot
The chances of traders, particularly newbies, falling for scams are greatly reduced just by stepping back and looking at all offers with a critical eye.
When you are offered an opportunity to invest in a trading bot, you need to consider that those that guarantee high profits, are fully automated and do not require constant supervision are a scam.
You can easily determine if a trading bot is genuine or not by using transaction records to prove whether the transaction strategy has been executed.
Easybot works with Kucoin among other exchanges. And, Kucoin says users can check every order that they executed in their account to prove that it is a real transaction. However, the trader can request the exchange to provide transaction details if the exchange uses a third-party platform.
Aside from that, you can come up with your strategies as the trader and get someone to convert these into a bot since a trading bot can be written around an index.
Inexperienced traders are the prime target for many crypto scammers who create fake bots. The so-called sophisticated trading software should ring a red flag if it offers above-normal returns that appear so tempting.
One of the frequently asked questions by many inexperienced crypto traders is whether or not Easybot is among these scam bots. As we have seen, Easybot is focused on helping traders tackle the volatility of the crypto market, especially in crypto winter and its MLM program has been widely misunderstood as a pyramid scheme.
Nevertheless, whatever bot you are interested in investing into, ensure that you take your time to get familiar with cryptocurrency trading as nothing good comes in a platter of gold.