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Frequently asked questions

We have compiled frequently asked questions and their answers for you on this page.

About Algoine

What is Algoine, what does Algoine do, etc...

Algoine is a platform that users can automate their trades in an algorithm. They can build a strategy by own or rent and use a strategy built by another user.

Algoine currently works on Binance only but we add more exchanges soon. The market types you can use are Spot and USDT-M Futures.

Algoine is a cloud-based service and you only need to have an internet connection. You control your bots on your user panel. However, you can download our app to your mobile phone. For Android

No, we don’t. Trading, especially on cryptocurrency markets involves high risk. You should consider the possibility of losing whole your investment. We do not promise definite profits or give investment advice to anyone. Use at your own risk.

About Safety

How secure is Algoine

Using Algoine is totally safe. Your funds stay in your wallet in exchange (Binance, or etc.). You authorize Algoine for trading only. You define the trading algorithm and your bots run in this strategy.

2FA stands for Two-Factor Authentication. It adds an additional layer of security to your account by requiring a second form of authentication, usually a code generated by an app, in addition to your username and password. We use Google Authenticator as 2FA. To activate 2FA on your Algoine account, first, you will need to download Google Authenticator to your mobile phone. Then from your Algoine dashboard, click on your nickname at upper left, go to 'Edit Account', click on 'Edit' in Two-Factor Authentication section and follow the instructions to enable 2FA using the app to scan the QR code.

E-mail notifications are for to be informed when an action taken by your account via e-mail. Its enabled by default. It’s recommended to keep it enabled for your security. But if you want to turn it off (or turn it on again), log in to your Algoine dashboard, click on your nickname at upper left, go to 'Edit Account', click on 'Edit' in E-mail Notifications section and follow the instructions to enable or disable.

At Algoine, we take security very seriously. We use Two-Factor Authentication (2FA) to secure user accounts and we send information e-mails to you, and log to our end for any action taken in your account. We prohibit the use of API keys with withdrawal permissions to ensure that only trading activities can be performed on the platform. Your APIs, passwords and all your sensitive data are  encrypted with modern, powerful and multiple encryption methods in our databases. You'll never see a leak from our end. Any of your data or logs will never be shared to third party.

We take data security seriously and have implemented robust measures to prevent any kind of data breach, including database leaks. We use industry-standard encryption methods to securely store user data and have firewalls and other security measures in place to prevent unauthorized access. There will be no leaks, but even if it does, your API keys and all your sensitive data are already encrypted in a way that no one can decipher.

About Payment

How can I make payment, etc...

Yes, you can try Algoine for a week. Check Plans for the details of free trial.

We accept major credit cards, debit cards, digital wallets (such as Apple Pay and Google Pay), bank transfers, and cryptocurrency: Tether (USDT in TRC20 Network) is accepted for payments.

You can make payments in Algoine Wallet in your user panel. Once you select the payment type (fiat or crypto) you wish to make, the payment gateway will redirect you to complete the payment by entering the desired amount.

You can pay 10 USDT at least as crypto and $0.50 as fiat payments.

You should pay for your subscription price and for the commissions.

Your commissions will be deducted automatically from your Algoine balance when you make profit.

If you’re using your own strategy, the commission rate is 5%. If you’re using a strategy made by another user, then you’ll see the commission rate before you rent it. It’s between 10% and 40% (Half of it is belong to the creator of strategy, and the other half is Algoine’s) When your bot made a profit, the commission will be deducted from your balance. For an example, if you have $20.000 in your wallet and using your own strategy. One of your positions is $1000 sized BTC/USDT. Position is closed with $100.00 profit. The commission of this profit will be $5.00.

If your Algoine balance is low while you’re active bots, your bots will notify you. If your balance is insufficient on the subscription renewal date, the system will warn you again. When you get this kind of warning notification, you must pay immediately to keep your bots active. If you do not pay even though you have been warned, your bots will be closed.

Algoine wallet is your wallet in Algoine where you deposit funds for subscription fee and commissions.

If you just want to run a Spot bot, Single plan is suitable for you. Futures bots starts from Dual plan. In Dual plan, you can run a Spot and a Futures bot at the same time. If you want to build multi strategies and test them simultaneously, Lab plan would be the best option for you.

Yes, you can do it from your user panel. It's in "Edit account" page, "Subscription" section.

About Usage

How to use Algoine, how to start a bot, etc...

A strategy is a set of rules and guidelines used by traders to make decisions about entering and exiting trades. A trading strategy can be either manual or automated as in the case of algorithmic trading. In algorithmic trading, a trading strategy is coded into a computer program which then automatically executes trades based on these rules and guidelines. With Algoine, traders can build, test, rent and run their strategies.

You can build a strategy on Algoine by accessing the "Strategy Builder" feature on your user panel. You can select the exchange, market type, and trading pair(s) you want to trade, and then create your own rules and criteria for entering and exiting trades. You can also test your strategy using real market data via paper trading, which allows you to assess the performance of your strategy without risking real money. After testing, you can start running your strategy live, either for your personal use or to offer it for rent to other users.

To rent a strategy from the strategy market on Algoine, you can access the "Strategy Market" feature on your user panel. Here, you can browse and inspect the strategies' performance, and select the one that fits your investment goals and risk appetite. Then, you can rent the strategy for a fee for your profits set by the strategy owner. Once you've rented the strategy, it will be automatically added to your user panel, and you can start running it in paper trading mode or live, depending on your preference.

When choosing a strategy on Algoine, you should consider the strategy's historical performance, risk tolerance, investment timeframe, and trading style. Examining a strategy's historical performance and understanding how it performs in different market conditions is essential. You should also ensure that the strategy aligns with your risk tolerance and investment timeframe. Additionally, understanding the strategy's trading style and how it operates will help you make an informed decision about whether or not to rent it.

To connect your Binance account with Algoine, you need to create an API key for your Binance account and connect it to your Algoine account via the user panel. On your Binance account, go to the API Management section and create an API key. Once you have your API key, go to your Algoine user panel and click on My APIs from menu. Then select Binance and the market type that you are adding API for. Enter your API key and secret key in the form and click "Add". Your Binance account will now be connected to Algoine, and you can create, rent, and run your strategies on the platform.

API stands for Application Programming Interface. It is an interface that allows two different software systems to communicate with each other. APIs allow developers to write software that can interact with other systems or services, often without needing to know the details of how those systems or services work internally. In the context of Algoine, API is used to connect your Binance account to our platform so that you can run your trading strategies on the exchange.

To start a bot on Algoine, first, you need to create a trading strategy or rent one from strategy market. Then go to My Bots page and choose which exchange, market type, run mode. If you want to test it select one with "Paper" in paranthesis, for example: Binance Spot (Paper). Then click start button to start your bot.

It runs stand-alone in respect of the strategy. It's not a "copy trade". The rented strategy works by executing trades automatically based on the predefined rules and indicators set by the strategy owner. The strategy owner builds the strategy on Algoine platform by defining its rules and indicators, and when he/she rents it, other users can run it on their own Binance account with their API keys. The bot will then execute trades on behalf of the user according to the rules and indicators set in the strategy.

Yes, you can test your strategy in paper trading mode using real market data to see how it would perform in the live market without risking any real capital. Algoine offers paper trading mode to its users, which allows them to test their strategies in a simulated environment before running them on the live market. This way, you can evaluate your strategy's performance before risking your hard-earned money.

Paper trading means using a virtual, simulated trading account to practice trading strategies or test trading ideas without actually risking any real money. At Algoine, we offer paper trading mode to allow users to test their strategies in a simulated, risk-free environment using real market data. This allows users to see how their strategy would perform in the live market without actually risking any capital.

Sorry, we don't offer backtests. Instead, we recommend running your strategy in paper trading mode using real market data to see how it would perform in the live market without actually risking any real capital.

Backtests are not realistic and trustworthy. Instead, we recommend running your strategy in paper trading mode using real market data to see how it would perform in the live market without actually risking any real capital.

You can monitor your bots from "My Bots" page. However your bots will send notifications to you via Telegram.

Yes, you can. If you are the owner of the strategy, you can change the settings anytime. Then you should push your new settings to your bot. All bots running in your strategy will refresh the strategy. You should also know that, the summary of your changes that you made after first creation will be listed in your strategy detail page as public. (e.g. Change of Time-frames)

Profit is your own profit by your trades. Income is your commissions from other Algoiners those are using your strategies and your commissions from the payments of your referals.

Yes, you can withdraw your income as crypto. Other option is to transfer your income to your Algoine wallet with an extra +20%. It's your call.

🚀 Algoine is in Public Beta! 🌐 We're working hard to perfect the platform, but please note that unforeseen glitches may arise during the testing stages. Your understanding and patience are appreciated. Explore at your own risk, and thank you for being part of our journey to redefine the Algo-Trading! 💡 #AlgoineBetaLaunch