TokenTact Crypto Bot: Full App Analysis and How-To Guide

Cryptocurrency trading comes with both massive potential rewards and risks due to the market’s volatility. In such a landscape, crypto trading bots like TokenTact have emerged as useful tools to automate trades using predefined strategies.

This article provides a comprehensive review of TokenTact covering its key features, functionality, pricing, and legitimacy. We share an objective analysis based on first-hand experience of using the platform as well as aggregated user feedback.

Pros and Cons of TokenTact Bot

Pros of TokenTact Crypto Bot:

• User-friendly interface – TokenTact has put substantial work into designing an intuitive drag-and-drop bot builder and trading dashboard that is easy for beginners to navigate.
• Active community – There is a vibrant community of users sharing trading strategies, signals, templates and technical support on TokenTact’s forums and Discord which aids learning.
• Backtesting capability – The ability to evaluate trading strategies against historical market data through backtesting helps traders refine profitable bots.
• Pre-built templates – TokenTact offers 75+ pre-made bot templates for common strategies that users can subscribe to and customize, saving significant setup time.
• Education resources – The platform provides an Academy section with tutorials, videos, guides and a knowledge base to learn bot building and technical analysis.

Cons of TokenTact Bot:

• Steep learning curve for coding – While templates are easy to set up, building a custom bot from scratch requires Python coding skills and technical knowledge that has a steep learning curve.
• Confusing pricing structure – TokenTact’s pricing tiers have been labeled confusing by some users and the fees get expensive for advanced bots and features.
• Missing advanced order options – Traders feel certain advanced order types like trailing stop limit orders are missing which reduces flexibility.
• Limited exchange connections – The platform currently supports only 15 exchanges whereas some competitors offer more integrations and API connections.
• Account security concerns – There are sporadic complaints online about unauthorized API key access. Enabling 2FA and API secret can prevent this.

In summary, TokenTact excels in usability and learning resources but needs to improve pricing, features, and security to appeal to advanced crypto traders with coding skills.

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TokenTact Trading Bot: The Essentials

TokenTact is a cloud-based platform designed to automate cryptocurrency trading strategies. The TokenTact bot works by connecting to popular crypto exchanges via API and placing buy/sell orders programmatically based on predefined rules and technical indicators.

Some standout features offered by TokenTact include:

• Pre-built templates – Choose from 75+ bot templates for common strategies. Great starting point for beginners.
• Backtesting engine – Evaluate and refine strategies by assessing their past performance with historical market data.
• Technical indicators – Utilize 50+ indicators like RSI, Bollinger Bands, MACD, etc. to build automated trading rules.
• Trailing stops – Automatically set stop loss levels that trail prices to lock in profits.
• Hopper Academy – Access educational resources and videos to learn crypto bot trading techniques.

Registration Process on TokenTact Crypto Bot

Registering on the TokenTact Bot is a quick and seamless process:

1. Go to site and click on the “Sign Up” button in the top right corner.
2. You will be redirected to a registration form. Enter your name, email address and choose a strong password. Make sure the password is at least 8 characters long with upper/lower case letters, numbers and special characters.
3. Check your email inbox for a confirmation link sent by TokenTact and click on it to verify your email ID.
4. After email verification, you will be asked to connect your exchange accounts. TokenTact supports 15 major exchanges like Coinbase, Binance, Kucoin etc. Click on the + icon beside the “Connections” section.
5. A popup will display showing all the supported exchanges. Click on the exchange you want to connect.
6. You will be redirected to the exchange’s website. Log into your exchange account and then authorize TokenTact’s API access by clicking approve.
7. After approval, you will be redirected back to TokenTact. Input the API keys from your connected exchange. Make sure to enable API key permissions for trading, if prompted by the exchange.
8. Repeat steps 5 to 7 to connect additional exchanges if needed. You can connect up to 5 exchanges on a Hero subscription plan.
9. Once exchange connections are set up, you need to complete KYC verification on TokenTact by submitting scanned copies of your government ID and address proof documents.
10. The KYC verification process can take up to 48 hours. After approval, you can start using TokenTact to build and run automated crypto trading bots.

So in summary, the key steps are signup, email verification, exchange API connections, and KYC document submission to get a working TokenTact account. The process typically takes less than 15 minutes to complete.

Once registered, you can access the TokenTact dashboard and start configuring your trading bots.

The TokenTact App Features Review

Here are some of the major features and tools offered through TokenTact’s web and mobile apps:

• Strategy designer – Visually build and customize trading bots via drag-and-drop blocks representing indicators, signals, trailing stops and orders.
• Bot backtesting – Assess bot strategies by evaluating performance metrics based on historical data.
• Paper trading – Simulate live trading conditions using demo balances before risking real capital.
• Strategy marketplace – Browse and purchase proven bot strategies designed by other users, developers, and experts within the community.
• Technical analysis – Perform charting and analysis on crypto price data to inform strategy decisions.
• Portfolio management – Track all exchange assets, trades, orders, and wallet balances in one unified interface.
• Mobile access – Manage bots, monitor performance, and enable notifications on-the-go through TokenTact’s iOS and Android apps.

Security, Licensing, and Pricing

TokenTact implements security measures like 2FA, API key encryption, and SSL protection of data. Accounts are protected through email and Google authentication.

The platform charges a monthly subscription fee based on features required, ranging from $19 to $99. There are no transaction fees and exchanges charge network costs for trades.

TokenTact also offers a free starter plan with basic functionality for getting started. Overall, pricing is competitive compared to alternatives like 3Commas, TradeSanta etc.

Investing with TokenTact Bot: Tips and Tricks

Based on our first-hand experience, here are some tips for using TokenTact effectively:

• Start with template bots or strategies from the marketplace to save time.
• Be prudent with position sizing and risk management when using bots.
• Conservatively backtest strategies across different time frames and market conditions.
• Enable two-factor authentication and API key encryption for account security.
• Monitor bot performance daily and fine-tune strategies to optimize results.
• Complement bot trading with manual technical analysis for informed decisions.

User Feedback on TokenTact Bot

Scouring through community forums and customer reviews, the overall sentiment for TokenTact seems largely positive. Here are some key points that emerge:

• The easy-to-use interface allows beginners to quickly start bot trading.
• Backtesting and paper trading features are powerful for strategy validation.
• The Hopper Academy and community forums provide great learning resources.
• Seasoned traders feel some advanced options like DCA bots are missing.
• There are complaints about the cost of subscription plans being too high.
• Customer support response times could be faster based on user reviews.

Is TokenTact Legit or a Scam? – Our Verdict

Based on our own experience and analysis of user feedback, TokenTact comes across as a legitimate platform for crypto bot trading. The transparency about founders, funding, and company details instills confidence. However, as with any fintech platform, users must exercise prudence and manage risks.

We recommend starting off slowly, learning the ropes through documentation and community forums, and enabling all security precautions. As one gains more experience with the platform, trading amounts can be scaled up cautiously. Overall, TokenTact offers an accessible entry point to explore algorithmic crypto trading.

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FAQs on TokenTact Crypto Trading Bot

Does TokenTact have a free trial?

Yes, TokenTact offers a free starter plan that gives users access to essential features like paper trading, backtesting, basic technical analysis and the ability to run one live trading bot. This allows testing the platform at no cost.

What exchanges does TokenTact support?

As of now, TokenTact has API integrations with 15 major cryptocurrency exchanges including Binance, Coinbase Pro, Bittrex, Kraken, Kucoin, Poloniex and more. Users can connect up to 5 of these exchanges based on the pricing tier chosen.

Can I run TokenTact bots on autopilot?

The bots once configured can be fully automated to run continuously 24/7. However, it is not advisable to let bots run unchecked for long periods. Traders should monitor performance at least daily and make periodic adjustments to optimize strategies.

Does TokenTact bot provide mobile apps?

Yes, TokenTact has free iOS and Android mobile apps. These let users access their trading dashboard on the go to track positions, orders, bot performance as well as enable push notifications for alerts.

How do I cancel my TokenTact subscription?

Users can cancel an active TokenTact subscription directly from their account dashboard under the Plans & Pricing section. Click on “Cancel Plan” beside your current active plan and then confirm cancellation in the popup. The plan will remain active till the expiry date.

Conclusion

TokenTact provides an intriguing platform for retail traders to explore algorithmic crypto trading. Backtesting and automation capabilities give it an edge. However, discretion is advised when using bots to manage risks optimally. As with any trading, starting small and implementing robust strategies go a long way.