January 12, 2021

Starting or stopping a bot in the BOTS app

A number of users of the BOTS have asked some questions about starting and stopping a bot and the period it takes for the money to actually become available. Today we explain exactly how this works.

Starting or stopping a bot in the BOTS app
Starting or stopping a bot in the BOTS app

The BOTS app

The BOTS app is an open platform where expert developers offer their bots. These bots invest and trade for you. They make their choices based on artificial intelligence, machine learning and algorithms. So, bots are actually automated trading strategies.

At the moment, the bots only trade crypto-currencies and they do so on approved trading markets.

Starting or stopping a bot

When you start a bot or stop a bot, a process is automatically triggered to either bring your money to or take your money from one of these markets.

In most cases, you can have your money immediately, as BOTS allows for pre-funding from its own available balances on the various trading markets. This credit is replenished on a daily basis from deposits made by BOTS app users. When an app user stops a bot, this pot naturally gets smaller again. We call this principle a liquidity pool. The maximum of this pool can actually be reached.

Prefinancing as a service

The pre-financing that BOTS makes possible is a service that we provide to our users because we want our users to be able to trade quickly via the BOTS app. For comparison: If you would trade directly on e.g. Binance, it would also take 1 to 2 working days before you would have your balance at your disposal again.

By using a liquidity pool it is possible that you do not have immediate access to your credit balances. This has everything to do with the processing time of various banks and of the trading markets.

Public holidays or large-scale transactions (such as those at the time of major exchange rate changes) also affect processing time.

In principle BOTS uses an average processing time of 2 working days, but in most cases you will have your credit at your disposal much faster.

Investing is for everyone

Everyone should be able to invest. And now they can. With BOTS. Are you interested, but your question hasn't been answered yet? Take a look at the FAQ's on our site. Or contact us, we will gladly explain it to you in person.

Need any help with anything?

If you still have questions about the BOTS app, do not hesitate to contact our support department.

On our YouTube channel you will find other instructional videos that might help you further. You are also very welcome on our Discord channel.

There is no such thing as risk-free investment. You can lose (part of) your deposit.