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Tesla Coin Review 2024: Is it a Legit Trading Platform?

As we pass the halfway mark of 2024, more and more individuals interested in crypto are getting serious about their endeavours and are turning to the potential of automated trading software. After a rocky year in the niche, things have been picking up and gaining momentum once again – and now seems to be the time to get involved. 

Regardless of the coin you choose to trade with, your budget, or your skill level; the right robot could potentially increase your chances of making a profit. As there are many providers out there right now research can be key when selecting the right one, so here is a comprehensive look at Tesla Coin to help you make a better-informed decision for your needs.

Tesla Coin – What You Need to Know First

Tesla Coin

As there are an array of automated trading robots in operation, it can be important to get to grips with exactly what Tesla Coin has to offer. When looking at the propitiatory website, there is little information to go on, but this platform claims to facilitate integration with both Web Trader and Meta Trader 4 once an initial deposit of $250 is made. It’s not uncommon for these types of sites to keep their features hidden behind a deposit paywall. As the money is still your own to trade with (and not a fee of any sort), it shouldn’t be a deal breaker – and while not ideal, this isn’t necessarily a red flag. 

Tesla Coin claims to provide not only the top trading signals, fast market entry and exit and the potential to make a profit with little input, but the additional ability to make use of the industry’s top trading software to facilitate trades for an even better experience. As Web Trader and Meta Trader 4 bring their own level of integration and service, this can be a plus point, but it’s not an exclusive partnership that could tip the balance when considering if Tesla Coin is the right platform for you.

 

Start trading with Tesla Coin

Tesla Coin new account

If you feel like Tesla Coin could be the right trading robot for your needs, you will need to:

Step 1 

Visit Tesla Coin directly (or click through from a third-party site) and fill out the quick sign-up form on the homepage. This requires your first and last names, your email and your phone number. 

 Step 2

Some websites suggest you will then be assigned a dedicated account manager who will talk you through KYC verification and complete setup, whereas others suggest that the initial deposit will need to be made next (this will still follow KYC if the former is true). 

Once you have put $250 into your account, you will have access to demo trading, the AI software, the trading dashboard and more. It is not a prerequisite to undertake demo trading (but it is suggested for better risk management), so whether you use it or not will be up to you before you start trading with your own funds.

What to expect from automated trading with Tesla Coin

The main reason that trading robots are growing in popularity is the way that they can be used to both support trading and take out the extensive time and effort that was once associated with trading. When you don’t need to spend time performing market research, undertaking tasks and executing trades manually, the potential for passive profit increases and this is especially attractive as the crypto niche sustains popularity. 

As the market for digital assets is volatile, having access to software that can be tailored to align with your trading needs, strategies and goals to select the trades that will maximise profit and minimise loss can make or break your overall experience and success.

Tesla Coin facilitates trading both on a proprietary level and via integration, so even with little information to go on, there are features that can be useful for both new and experienced traders – and this can make it a worthwhile selection for the right individual. It supports BTC, XRP, ETH, ETC, LTC, ADA and more. Payments can also be made via traditional payment methods like bank transfers, debit and credit cards, supported e-wallets and PayPal so users can enter the crypto markets and make deposits and withdrawals with ease.

Top features of Tesla Coin

the robot holds a gold bitcoin in its hand

 Demo trading

One of the main features to look out for is a demo section – and once you have signed up and deposited, Tesla Coin allows you to practice trading without financial risk. Users will be able to not only test out trading strategies and play with the parameters that could work best, but also get a feel for the website and its features to ensure that it has everything you want. 

 Customer service

Tesla Coin offers users access to live chat and email customer service once the initial deposit is made, but there don’t seem to be any reviews stating that there is phone support. There is a suggestion across the web that users will be assigned an account manager who will help with the whole process from sign-up onwards and act as an avenue of support, but as there is little information on the website itself, we’re unsure if this is actually the case. 

 Win rate

Win rate can be a good indicator of whether or not a website is a scam – and opposite to providing a number that is too high, Tesla Coin does not give any information away. They do claim to present a user-friendly interface and experience for traders of all skill levels alongside intuitive AI protocol to scour the crypto markets and execute trades that users can stand to profit from, but potential sign-ups should find out more before using Tesla Coin to facilitate their efforts.

 Fast, no-fee transactions

Once the registration process is complete and the initial deposit is made, Tesla Coin states that it offers instant deposits and 24-hour withdrawals that aren’t subject to fees. As there are no sign-up costs to consider this can be attractive – but there may be commissions on trades if this site partners with brokerages (this isn’t suggested from what we can see, but it is common with trading robots, so there’s a possibility that it could be the case). It can be a good rule of thumb to withdraw regularly to keep these types of fees low and maximise the profit you bring in each month, although Tesla Coin states that it doesn’t take commissions itself.

Integration with Web Trader and Meta Trader 4

The fact that Tesla Coin offers users access to Web Trader and MT4, the biggest and most reliable names in trading software, there will be greater functionality and better overall potential when trading cryptocurrencies. This is because these platforms are highly customisable and can be individually tailored to suit a host of needs.

 Security

As with most trading platforms, Tesla Coin has a range of security protocols in place to safeguard users, including SSL certificates, encryption and anti-virus tools. KYC verification is always a plus, as it ensures that all site users have passed a vetting process, so only serious traders will be able to sign up.

 Supported countries

There is still some dispute about the viability of cryptocurrencies and their potential as an alternative to traditional fiat currency – and as a result, trading is not supported worldwide. Tesla Coin is currently available in Australia, Spain, Singapore, South Africa, Mexico, Germany and Italy – but it may become operational in more as rules change.

The pros and cons of Tesla Coin

👍 Advantages:

  • 24/7 access to crypto markets
  • Automated trading with customisable parameters for strategies, position size, asset type and more
  • Demo trading account
  • No fees across the site
  • Fast transactions
  • Integration with Web Trader and Meta Trader 4
  • Simple UI

👎 Disadvantages:

  • There is little to no information on the Tesla Coin website, so users won’t know what to expect before making a deposit
  • No proprietary mobile app
  • No suggested win rate

Is Tesla Coin a reliable trading platform?

On one hand, when it comes to determining legitimacy, the fact that Tesla Coin gives almost no information about its features or services isn’t an encouraging aspect. On the other hand, however, the fact that it partners with Web Trader and MT4 could be something that makes it worthwhile signing up to. Keep in mind that these can be integrated with an array of trading robots and even brokerages, so you may find a platform that is more transparent than Tesla Coin and go with that instead.

A good indicator of legitimacy is third-party reviews and as social media is playing a huge role in the sentiment regarding (and growth of) crypto right now, sites like Reddit and Twitter can be the best resources at your disposal. Right now, neither of these has any information on Tesla Coin, so you may want to check back if you’re considering signing up. 

Our own personal verdict is that we simply don’t know what to make of Tesla Coin, so you may want to do some deeper research or wait until it gains more traction before putting your cash or crypto assets on the line.

What to know about trading cryptocurrencies

Robot trading, Digital crypto currency and stock exchange market graph

In the current trading climate, automated trading software is fast becoming a well-used part of the trading itinerary for maximised potential alongside trading strategies and risk management protocols. While the niche is widely unregulated and there are scam websites out there, reputable providers can be a great asset to improve crypto trading endeavours. Right now, as so many people are getting involved with trading, alongside its volatile nature, it can be especially difficult to find and make trades in time when doing so manually. This means that intelligent, automated software can be especially invaluable.

Using software can come with its own risks, however, as you will be entrusting a third party to use, store and make decisions with your funds. As trading relies heavily on timing market volatility for financial gain, the better the software performs, the more you will stand to make. Be sure to set yourself boundaries when trading to ensure fewer (and less impactful) losses and remember that even traders with years of experience under their belts can still fall foul to unfavorable market moves, so this additional support won’t make you infallible.

Should Tesla Coin feature on your trading robot shortlist?

Right now, there are plenty of crypto trading platforms out there that have a lot more information on them about what they offer – and this is often further supported by strong communities and a wealth of online resources where potential users can find all the information they need to make an educated decision. 

This means that Tesla Coin may not be the first website to pique your interest, but it does have some plus points, like integration with additional reputable software. Tesla Coin may lack data on its performance and keep its cards close to its chest, but this could be due to newness or a desire to keep things secure for traders. It could also be to minimise speculation as being a scam and could take user’s money, but there’s simply no way to tell. 

Tesla Coin FAQ

Is Tesla Coin suitable for beginner traders with no experience in the crypto markets?

The good news is that Tesla Coin is said to be designed with a user-friendly interface and with both new and more experienced users in mind. There will be some success to be had with trading due to the nature of trading robots in general - but as there is no suggested win rate, it can be difficult to determine just how often you can expect the software to make profitable trades. Remember that profit can be any value over the initial trade size, so success won’t necessarily mean that you‘ll be taking home thousands at a time.

Who developed Tesla Coin?

There is no information on the website itself or around the web stating exactly who created Tesla Coin, but this isn’t too strange. It is suggested that there is a team of industry experts and software specialists behind it, but no proof either way. Many crypto enthusiasts wouldn’t be put off by this fact, as anonymity is quite common in the niche. Do any celebrities endorse Tesla Coin? There is always talk within the crypto community of celebrity endorsements, but these are often completely unfounded. While Tesla Coin has been associated with Elon Musk, Jeff Bezos, Richard Branson and similar names, there is no information anywhere to state that these claims are true. It also hasn’t been featured on any TV shows in the US or the UK.

Can you trade using leverage and financial products like CFDs on Tesla Coin?

As the Tesla Coin website gives so little information about its products and services, it isn’t clear whether or not leveraged trading and brokerage support is facilitated. While it can be a worthwhile idea for some traders to make use of leverage, this isn’t imperative, so trading without it shouldn’t be a deal breaker or a red flag.