Teslacoin is an automated crypto trading platform that has gained in popularity in part due to an influx of traders trying to speculate on crypto values and profit. Traders require tools that can lessen the strain of trading and maximize their income as the market becomes more volatile.
However, is Teslacoin legit? How does it work? This Teslacoin review answers these questions and many more.
Teslacoin Summary
| Supported Cryptocurrencies | BTC, ETH, XRP, ADA, EOS, IOTA, LTC, DASH, BTG, ZEC |
| Withdrawal Timeline | Instant |
| Mobile App | Yes (unverified) |
| Claimed Success Rate | Unspecified |
| Deposit Fees | None |
| Minimum Deposit | $250 |
What Is Teslacoin?
Teslacoin is a cryptocurrency trading tool that caters to the needs of cryptocurrency traders looking to optimise their earnings. The platform was built to optimise the trading process, providing valuable insights into research and analysis processes that can help traders improve their profitability significantly across the board.
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According to its website, Teslacoin was built in 2010—way before the crypto market became mainstream. However, there is a scarcity of information available on both the developers of the tool and the tool itself. While some might view this as a red flag, anonymous developers aren’t uncommon in the crypto market.
Like many crypto trading tools, Teslacoin’s focus is on helping its users navigate the market. The platform’s goal is to guide traders through the market’s volatility and ensure that the trading process is as seamless as possible.
Teslacoin Pros & Cons
For a clear look into where Teslacoin does well and where it needs a little more work, check out the platform’s pros and cons:
Pros
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● Quick withdrawal timeline
● Easy for beginners to use
● No fees charged
Cons
● Little information about its developers
● No Teslacoin app
How Does Teslacoin Work?
Like many crypto trading platforms of its calibre, Teslacoin focuses on helping traders find the right points to enter and exit the market. Teslacoin’s developers claim that the software is able to find the right points because of its artificial intelligence and machine learning-based trading system. They also claim that Teslacoin has a high-frequency trading platform that allows it to parse the market much faster than others.
Teslacoin’s developers claim that the software analyses news items and helps with technical analyses. This way, traders with little or no experience or knowledge of the market can use it to trade Bitcoin, Ethereum, and new and popular coins in the crypto market.
For traders with experience, Teslacoin provides a manual trading service where these advanced traders can enter their trading parameters and implement their trading strategies. However, it was difficult to test their efficiency for this Teslacoin review.
In addition, the tool is affiliated with brokers. Teslacoin works with several brokers who handle tasks like trade management and order processing. Any trader who registers on the platform is said to be immediately connected to one of its brokers before they can get started with it.
There are claims that the Teslacoin system works well with MetaTrader 4 and MetaTrader 5 trading platforms. Although the developers claim that Android and iOS apps are available, nothing shows up on searches on the Google Play Store or Apple App Store. Still, they promise that traders who make use of the desktop platform would have no trouble signing up or using Teslacoin to trade.
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Teslacoin Key Features
Teslacoin promises several impressive features for users looking to get started with it. Here are some of these features:
User-Friendly Platform
One of Teslacoin’s biggest benefits is that the platform works well for both beginners and advanced traders. The developers assert that anyone looking to get started with the platform can do so without a hitch, thanks to its simple layout that allows users to get around it easily.
Several other Teslacoin review options have alluded to the platform’s ease of use, with many traders claiming that they were able to use the platform without much experience in the market.
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Demo Account Available
Traders looking to work with Teslacoin will also enjoy access to a demo account. Using this account, beginners can gain knowledge of the working of the platform, while advanced traders can test out trading strategies and parameters before getting started on live trading.
Given the market’s volatility, it is important for traders to keep refining their trading strategies from time to time. The demo account makes this possible.
Fee-Free Operation
Another benefit of Teslacoin is that it offers an excellent pricing breakdown. According to the website, it is entirely free to use, with traders able to sign up and begin using it in minutes. This fee-free operation, quick account opening process, and demo account access make Teslacoin especially good for beginners.
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Teslacoin claims not to charge any hidden fees or any commission on profits from trades. However, as several Teslacoin review options have pointed out, the platform’s brokers might charge fees for their service.
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Customer Service
Teslacoin offers support for customers who might have disputes. The platform's developers have claimed that they provide reliable customer service that runs round the clock. However, it was impossible to find any details concerning this customer service - or its efficiency as regards speed and reliability.
Multi-Currency Support
While many traders tend to focus on Bitcoin, the crypto market includes several other assets. Teslacoin casts a wide net when it comes to crypto support, allowing traders to speculate on the prices of several assets - including Ether (ETH), Bitcoin Cash (BCH), Litecoin (LTC), XRP (XRP), Dash (DASH), and Neo (NEO).
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For investors who love to diversify their portfolios and explore different coins, Teslacoin could be the ideal trading platform.
Teslacoin Fees
Traders concerned about the fees charged by Teslacoin can find a breakdown of its pricing structure below:
| Fee | Amount |
| Registration Fee | None |
| Account Maintenance Fee | None |
| Inactivity Fee | None |
| Deposit/Withdrawal Fee | None |
The table above shows that Teslacoin doesn’t take any fees for its service as a trading platform. At the same time, while many other crypto trading tools charge commissions whenever a trader makes a profit, Teslacoin forgoes this and allows traders to keep all of their profits.
However, keep in mind that the platform’s partner brokers might charge fees for their trade execution and order management services. As a result, the fees should be known to traders before using the platform.
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Is Teslacoin a Scam?
Traders would like an answer to “is Teslacoin a scam?”
Answering this question isn’t clear-cut. Teslacoin’s developers have made several claims about the tool and its operation, and it has some positives - including ease of use and the ability to trade several coins at the same time.
However, Teslacoin is also quite dodgy in its offering. All of the developers’ claims have been unverified so far. Traders will need to perform a Teslacoin test to ascertain its efficiency. Traders are advised to approach the platform with caution, especially since the crypto market can be volatile.
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Teslacoin Minimum Deposit
There's a required minimum deposit of $250 on Teslacoin. This means that traders won’t be able to place live trades until they have funded their accounts with at least $250. However, the minimum balance is competitive with most other trading bots.
For safety reasons, we recommended that traders only begin with the minimum balance when getting started with Teslacoin. Remember to also perform a Teslacoin test before proceeding with the software.
Traders should also keep the market’s volatility in mind when trading. It is important to maintain proper responsible trading in a market as volatile as crypto.
Teslacoin Customer Support
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Customer support is available on Teslacoin, according to its developers. According to their claims, traders can contact the development team with any issues they have and receive the help they require.
However, the developers haven’t offered more concrete information regarding customer support - including the available channels or their efficiency. Hence, traders are advised to use the software with extreme caution.
How to Use Teslacoin
The steps for getting started with Teslacoin are outlined below:
Register an Account
To register, simply head to the platform’s home page and fill in the registration form on the screen. Simply enter a name, phone number, and email address. Click on “Register” once done.
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The platform immediately connects the trader to a broker in their region. From there, traders can access their profile page.
Make a Deposit
Next, the trader must fund their newly created account. Note that Teslacoin only accepts deposits via cards and bank transfers. Also, remember that the platform’s minimum deposit is $250.
Demo Account
Traders can make use of the demo account to get a feeling of how Teslacoin works. At the same time, anyone looking to trade manually can use the demo account to test out their strategies before deploying the live trading feature.
While it isn’t a necessity, the Teslacoin demo account is a recommended feature.
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Live Trading
Once a trader has successfully used the demo trading feature, they can move on to live trading. Remember to trade responsibly and within the right risk parameters.
The Verdict
Teslacoin appears to be an impressive automated cryptocurrency trading platform. The platform has a growing base of users, many of whom have attested to its efficiency. And with a promised easy-to-use operation, the platform appears to be reliable for both beginners and advanced traders.
However, investors should learn more about crypto trading and apply the right risk management procedures before starting with Teslacoin. This way, they are better prepared to handle the crypto market’s volatility. There's a $250 minimum required to activate the trading robot.
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FAQs
What is Teslacoin?
Teslacoin is a cryptocurrency trading platform that caters to the needs of crypto traders across the market. Its focus is on helping them to reduce the stress of research and analysis, thus improving their chances of profitability.
Is Teslacoin legit?
Teslacoin claims to have an affiliation with brokers and a versatile trading interface. However, many of its developers’ claims are unverified, so traders are advised to remain cautious while using it.
How do I join Teslacoin?
A trader looking to get started with Teslacoin will be able to do so after signing up on the website and entering their details. Click on “Register”, and access to the trading interface will be granted.
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Traders must be at least 18 years and above to use Teslacoin.
Who owns Teslacoin?
Currently, there is no information about the owners of Teslacoin or any of their prior experience in the market.
