The BOTS Broadcast #1 | The evolution of BOTS
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The BOTS Broadcast #1 | The evolution of BOTS
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January 14, 2022

The BOTS Broadcast #1 | The evolution of BOTS

During 2021 we didn’t just grow as a company, but also as a community and platform. Along the way we’ve been improving continuously, evolving from a start-up with less than 40 people at the beginning of the year to more than 100 employees. It’s been an incredible journey so far, and we’re not done yet.

With the start of the new year 2022, we wanted to launch a new and improved way of communicating with our users. Every month we will give our community an update of new features that were developed, improvements inside the app, features requested by users that were implemented... You name it! This blog will be called The BOTS Broadcast, and the first part will be focusing on these updates. For the second part we will gather your questions from our Discord channel and IG Story question box, and answer them underneath. That way we can tell you about the evolution of BOTS as it’s happening. 

As a start-up with the mission of making automated trading accessible for everyone, we can say that even though we are still only 1.5 years old, we have assembled a team of very talented and highly ambitious people working every day to make that mission possible. 

In these last 12 months, our app improved not only visually but also became a more user-friendly platform. We’ve combined community suggestions with our own goals to expand: our teams are working hard on these improvements every day. 

We launched in 10 more countries

During 2021 we grew and launched our BOTS app in 10 more countries. We’re currently present in more than 35 countries and will continue to grow throughout this year. Stay tuned for our Social Media & Discord channel for updates. We’re really bringing automated trade for everyone!

Improved Search & Filter functionality

This highly requested feature was implemented to allow users to search by bot builder instead of just by bots.

Improved E2C & Banxa payment

During the past year, one of the major focus points of our app development team was to improve usability of payment methods. They did so by integrating Banxa payments and implementing a new 'bank transfer' option for users who want to transfer larger amounts.

Increased automated testing 

It’s important to mention that not all external and visual features are the most important. Internally our team increased automated testing and by doing so, they were able to proactively remove the majority of bugs. We operate a type of backend bot that imitates behaviours of real users, creating and highlighting edge cases that might occur due to “human error”.

Flutter upgrade & Refactor flows

This might sound like gibberish, but this backend upgrade was one of the team’s big internal projects for 2021. First off, it optimises the app by improving performance, while also helps BOTS scale better, and allows us to implement new features more easily. It’s important, trust us!

KYC (Know Your Customer) optimisation 

This feature allowed users to partially complete the KYC process and finish it at a later time. While working on this, our team optimised every step of the onboarding, in order to improve user experience within the app.

Compounding feature removed

Previously, the bots graphs in the BOTS store shown to our users had a compounding algorithm that meant they would show increases and decreases including interest on interest (compounding) since the start date of a bot on the platform. So last week's return was not the return against the amount at the start of the week, but against the investment at the starting date of a bot. 

This gave an enormously distorted picture and made rises and falls of 40% common occurrences, while the market fell or rose much less rapidly (see picture), purely because the bot had been on the platform for a long time. This has been adjusted after lots of requests from our users and Discord community and now simply shows the true returns over the selected period.

Our development team is constantly working on improving flows, new payment integrations, and expansion to other countries. Such as a multicurrency tool in the app, this will mean that you can automatically change the currency displayed in the app. For a new user they can expect the app to automatically change to its local currency while an existing user will be able to change their currency by clicking on More, Preferences and Displayed Currency. Currently the team is also working on adding a ROI toggle tool in the store (our users will be able to sort bots by: ROI last week; ROI last month; ROI lifetime). Stay tuned for more BOTS news coming soon…

Q: Why are some BOTS currently having negative results? 

A: The crypto market is currently experiencing a downtrend. Unfortunately, this means it is a harder time for bots to make profits. However, our bots keep trading 24/7 to make the best profits possible. 

Q: When are BOTS coming to South America and opening new offices?

A: Our expansion team is always working on expanding our app to new countries and searching for opportunities to open new offices. This depends on several factors, including legal reasons. At the moment we can't predict when we will go to South America, however, we can say that this year we will expand to several continents. Stay tuned to our Socials & Blog posts for updates.

Q: The BOTS only work with Cryptos?

A: Our regular users can only trade in crypto at the moment. However, when investing 100.000 euros it will be possible in H1 to invest in stocks, options, and trade forex as well with BOTS Platinum. We are working hard to make this available for all users, but we can't predict when this will be ready. 

Q: Are there BOTS that invest in NFT’s? 

A: We currently have 4 bots that invest in NFT related projects (NFT.Crypto.Portfolio, NFT TrendBot, Meta Ten, K2). Because these bots are very popular there isn’t always room to join. But we can tell you that we have something in the pipeline in this regard that we believe a lot of our users will appreciate. As always, stay tuned to our social media channels for more information. 

Q: When can we expect a function allowing us to partly stop a bot and take partial profit?

A: We understand that many users are looking forward to this feature. Our app team is always working on optimising the app and this feature is currently being developed. However, we cannot predict deadlines for this as great things take time. 

Q: Are there vacancies for students interested in crypto/NFTs/fintech/trading bots? 

A: A few students are doing an internship at BOTS. Please check our website for the current vacancies. We are always looking for new interns and employees. 

Q: How long should I keep a bot active? 

A: Our experience is that bots perform best in the long run (at least 6 months). At the moment, amazingly, 66% of our users are making profits. Among BOTS Gold users, this is even 85%. 

Q: Why is the New Year Bot not giving profits at the moment? 

A: As many of you might know the New Year bot is a gift for all BOTS users. Like all the other bots on the platform, this is an algorithm made by a bot builder. As mentioned above, the crypto market is currently in a downtrend and therefore this bot is also facing that challenge. Let’s see what happens when the market picks up again!  

Q: Why are some of your reviews so low in the UK? 

A: We had some temporary issues with payments in the UK that led to negative reviews. The issue has since been fixed and the latest reviews are all positive. Reviews also differ per country: in The Netherlands we currently have a 4 star score in Google Play.

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