TeslaCoin Review [2024] – Scam or Legit?

Business2Community is not affiliated with any of the Bitcoin robots featured on this page. We only facilitate traffic to these platforms. Please be aware that trading with crypto robots carries significant risk. There is no guarantee of a return on investment, and users should proceed with caution and conduct their own research before engaging in any trading activities.

Are you considering using TeslaCoin, a crypto trading robot? Our Teslacoin review will provide valuable insights into this platform’s legitimacy, features, benefits, and drawbacks.

With Tesla Coin, novice and seasoned traders can easily enter and customize instructions for digital currency trades. The platform quickly transfers profits from successful trades to the user’s trading account, and the funds can be withdrawn instantly.

Let’s get started.

Tesla Coin Review Summary

Let’s kick off our TeslaCoin review with a quick summary of everything you need about this crypto trading robot.

Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.

What is Tesla Coin?

TeslaCoin is an automated crypto trading platform known as a Bitcoin robot. The platform claims to buy and sell cryptocurrencies on your behalf to generate a profit.

According to the site, Tesla Coin can trade popular cryptocurrencies such as Bitcoin, Ethereum, Ripple, and Cardano. An algorithm controls buy and sell orders, so the platform can trade 24/7 on your behalf and never needs to take a break. It’s important to remember that crypto assets are a highly volatile, unregulated investment product. 

TeslaCoin states that it does not charge any fees for using the platform. However, you must make a minimum deposit of $250 to start using TeslaCoin. You can test the platform in demo mode and withdraw your funds anytime.

Who Owns TeslaCoin?

There is no no ownership information on the TeslaCoin about who the owners are, although several sources suggest a group of experienced traders are behind the trading bot.

One thing is for certain, however, is that Tesla owner and the world’s richest man, Elon Musk, has absolutely no connection to TeslaCoin – with the website even making that clear on its homepage.

TeslaCoin Pros & Cons

Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.

How Does TeslaCoin Work?

According to the site, TeslaCoin uses a sophisticated algorithm to track movements in the prices of major cryptocurrencies. When the algorithm detects a pattern that it recognizes, it will execute a buy or sell order using the funds in your trading account. The algorithm will then continue to monitor price changes and will automatically exit your position for a profit or loss once the pattern starts to deteriorate.

TeslaCoin doesn’t specify how accurate its algorithm is at trading for a profit. Note that TeslaCoin only trades cryptocurrencies, so it is not suitable for investing in Bitcoin for the long term. Also remember that all trading carries risk. TeslaCoin could potentially lose money.

On What Devices Can I Use TeslaCoin?

TeslaCoin works on any device with an internet connection, although there is no dedicated mobile app to access its features.

Therefore, it can be used on a smartphone (Android and iOS), tablet, desktop PC, or laptop.

Which Exchanges and Brokers Is TeslaCoin Partnered With?

TeslaCoin does not reveal which brokers it is partnered with; each user is assigned a different broker.

Unlike some rival trading bots, TeslaCoin does not strictly partner with fully regulated brokers – which rules out users from the UK, which has specific rules in place.

Can I use TeslaCoin in My Country?

TeslaCoin is available in many countries. Notable exceptions are the US and UK, however.

See the table below for select countries:

How Much Profit Can Be Made from TeslaCoin?

Unlike other similar trading bots, TeslaCoin does not provide information on how successful it is or a claimed win rate.

Therefore, users should monitor the tool extremely carefully, as crypto trading is inherently risky and losing trades are inevitable – beginners should always remember not to invest more than they can afford to lose.

TeslaCoin users should also note that profits on crypto trading are subject to taxation in many countries.

TeslaCoin Key Features

Let’s take a closer look at several of TeslaCoin’s key features as part of our TeslaCoin review.

• 24/7 Automated Trading

Since TeslaCoin uses an algorithm to day trade crypto on your behalf, it can place trades in the crypto market 24/7 without ever taking a break. The platform is fully automated, so there is no need to manually enter trades or even monitor your account throughout the day. TeslaCoin recommends that traders check-in for 15-20 minutes per day to see how their account is performing.

• Trade Multiple Cryptocurrencies

TeslaCoin trades several cryptocurrencies: Bitcoin, Ethereum, Bitcoin Cash, Ripple, and Cardano. All of them are major cryptocurrencies, in the top 10 digital currencies by market cap. So, these coins have a lot of trading volume and volatility, creating plenty of opportunities for TeslaCoin to open trades.

• Demo Mode

TeslaCoin offers a demo mode so you can try out the platform and see how it performs without risking any money. Demo mode offers a chance to see what types of trades TeslaCoin would execute and your profit and loss. It also lets you modify some of the trading platform’s parameters in a safe environment.

• Instant Withdrawals

TeslaCoin allows you to withdraw your funds at any time. The platform pays out instantly with no withdrawal fees. All payouts are in fiat currency, not in TES.

Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.

TeslaCoin Fees

According to the site, TeslaCoin doesn’t charge any fees for using its platform. There are no deposit or withdrawal fees, and no commissions on the trades or profits that TeslaCoin makes on your behalf.

Note, though, that all trades may be subject to spreads charged by the cryptocurrency brokers that TeslaCoin uses. In addition, there may be small blockchain fees for converting from fiat currency to TES and back. These fees are not charged directly by TeslaCoin, but they can impact your account.

TeslaCoin Minimum Deposit

TeslaCoin requires a minimum deposit of $250 in order to start using the platform. You must make this deposit before you can access any of TeslaCoin’s features, including demo trading mode. This money is yours and can be withdrawn at any time.

TeslaCoin Customer Support

TeslaCoin claims to offer support from a dedicated account manager after you join the platform. However, our TeslaCoin review found that there is no way to contact customer support before you sign up.

Is TeslaCoin a Scam?

One of the key questions we wanted to answer with our TeslaCoin review was, Is TeslaCoin a scam?

According to the TeslaCoin website, this platform is fee-free and offers a demo mode so you can try it out before risking real money. In addition, the trading platform focuses on major cryptocurrencies like Bitcoin that are known to be volatile and provide plenty of opportunities for fast-paced trading.

Unlike similar trading bots there is no information on the win rate. One thing is for certain, Tesla owner and billionaire Elon Musk has zero involvement with the project, which is even mentioned on the website.

One Reddit thread reveals some users were scammed by rogue Facebook ads, which claimed that TeslaCoin was created by the car company – according to news reports, around $250 was lost, although the scam had nothing to do with the trading bot.

TeslaCoin only has a limited section on TrustPilot, with only four reviews.

How to Buy Tesla Coin

Ready to give TeslaCoin a try? This part of our TeslaCoin review will walk you through how to sign up and start trading.

Step 1: Sign Up for TeslaCoin

Head to TeslaCoin’s website to sign up. Enter your name, email address, and phone number in the registration box, then click Register Now.

Step 2: Deposit Funds

TeslaCoin requires a minimum deposit of $250 when you sign up. You can pay by credit card, debit card, or bank transfer. There are no deposit fees at TeslaCoin.

Step 3: Start Trading

Now you’re ready to start using TeslaCoin. You can try out demo mode to see how the platform works and to play around with optimizing the algorithm’s parameters. Once you’re ready, activate live trading and TeslaCoin will start automatically buying and selling cryptocurrencies on your behalf.

How to Withdraw Money from TeslaCoin?

TeslaCoin’s partner brokers store all funds and earnings and any withdrawals must be made directly from there.

• Visit the partner broker and log into your account
• Go to the wallet and start the withdrawal process
• Enter the amount, select a payment method and complete the transaction
• Funds should appear within 24 hours

Note that TeslaCoin uses TES as a store of value in the account, but all payouts are made with fiat currency.

How to Delete a TeslaCoin Account?

To delete a TeslaCoin account, simply access the broker platform and select the remove command to complete – alternatively, delete the account from the settings menu.

Contact the customer support service for more guidance if needed.

The Verdict

Our TeslaCoin review found that this crypto trading robot trades Bitcoin, Ethereum, Ripple, and Cardano automatically on your behalf. To start trading with Tesla Coin, you’ll need to make an initial deposit of trading capital. We recommend starting with the minimum amount and testing the withdrawal process early.

Remember, we couldn’t verify all the claims made by Teslacoin, so do your research and try the demo account beforehand if you use the platform.

Finally, due to the increasing number of scams, it’s crucial to prioritize factors like security, user experience, customer support, and payouts before deciding to use Tesla Coin.

Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.

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