Coin Kong Trader (Live-Bit) Review: Scam or Legit?

James Spillane
Author: James Spillane
Last Updated: 11 June 2021

Coin Kong trader is a proprietary automatic trading robot for Cryptocurrency investors on the exchange Live-Bit.

Traders are required to make a deposit first before receiving information on the algorithm, win rate, profitability etc. or any screenshots, unlike other trading robots on the market.

Try Coin Kong Trader on Live-Bit

Trustpilot Average

  • Exchange owned trading software
  • $/£ 250 Min Deposit
  • Personal broker platform
All trading carries risk, only invest what you can afford to lose

On this Page:

    What is Coin Kong Trader?

    The only online web presence the Coin Kong trading robot has at the time of writing is the below Coin Kong logo and a sign up form on BestInvestmentOffer.com, a little-known domain.

    One of its webpages advertises the Coin Kong automatic trading software with a simple create an account box inviting users to ‘invest in Coin Kong trader’.

    Coin Kong Trader

    Trading bot enthusiasts are then directed after entering a name and telephone number to Live-Bit.com, a cryptocurrency exchange and personal broker platform which makes no mention of Coin Kong trader.

    The BestInvestmentOffer website markets the Coin Kong trading robot as an exclusive offer for whatever country the user IP is in, whether it be the United Kingdom, US, Canada, Germany, etc.  – suggesting traders are accepted worldwide.

    Alongside the lack of info or social media presence, there are few reviews of Coin Kong trader online. This may be explained by only depositors being permitted to access the software.

    Deposits & Withdrawals

    Users are required to make a minimum deposit of $250.

    The minimum withdrawal via wire transfer is 10,000 GBP / EUR, higher than most Crypto exchanges.

    Trading Fees

    Live-Bit mentions long term traders pay no fees to use their trading platform, but fees for new signups aren’t listed.

    The Coin Kong trading robot itself appears to be free to use.

    Coin Kong Automatic Trading – How it Works

    As mentioned there are no details on the past performance of the Coin Kong trading robot or the indicators it uses.

    Our writers at InsideBitcoins filled in the sign up form with a name and contact number in an attempt to find out more and were directed to Live-Bit.com exchange.

    This exchange prefers to call users and explain the trading procedure over the phone, so expect a sales agent to call.

    Their emails lack detail and can be flagged as spam by Gmail and other major email providers.

    Coin Kong Trading Robot Live-Bit Exchange

    The rep our team spoke to explained Coin Kong Trader is proprietary software owned by Live-Bit and its features are only explained after depositing. The user would be provided a personal asset manager for this.

    It is unclear what algorithms Coin Kong trader uses to trade, go long or short but Live-Bit offers up to 5x leverage and USD, GBP and EUR pairs on the majors Bitcoin, Ethereum, Litecoin, Ripple and popular smaller altcoins such as Polkadot.

    Verification

    Live-Bit requires all its customers to undergo KYC (know your customer) requirements, including submitting proof of identity, residence and debit or credit card ownership.

    Identify verification documents are requested to sent in within 4 days of opening an account.

    Testimonials

    The Live-Bit exchange website doesn’t currently feature a section for user testimonials.

    Trustpilot lists 20 user reviews for Live-Bit with an average rating of 1.7 and the company hasn’t yet replied to these self-reported user experiences.

    Coin Kong Trading Robot – the Verdict

    In conclusion as always with Bitcoin and cryptocurrency trading the mantra is to do your own research (DYOR) and only invest what you can afford to lose.

    While the Coin Kong automatic trading software appears to be legitimate the specifics of its performance are a closely guarded secret.

    The use of trading bots and such software maximizes ROI and minimizes risk as they far outweigh the capabilities of individual expert traders or even hedge funds, being programmed to infer the best odds ahead of market trends and to make investments accordingly. The only question is which bot to choose.

    InsideBitcoins recommends browsing our updated list of dozens of the latest reputable and accurate trading bots and scam bots to avoid.

    Pros:

    • No user input required
    • Multiple cryptocurrencies supported

    Cons:

    • Closely guarded details
    • Lack of user reviews

    FAQ

    Is Coin Kong Trader legitimate?

    There is no information available before users make a first time deposit. Readers should exercise caution and do their own research. See our updated list of the latest legit and accurate bots.

    Does Coin Kong Trader have customer support?

    24/5 email and phone support is available and a dedicated account manager is promised.

    Who developed Coin Kong Trader?

    Live-Bit exchange own this proprietary automatic trading robot software only making it available to its account holders.

    How does Coin Kong Trader work?

    After a $250 minimum deposit Live-Bit appear to operate the Coin Kong automatic trading robot themselves for their users, requiring little input.

    Remember, all trading carries risk. Past performance is no guarantee of future results.
    James Spillane

    James is a UK based content writer and editor at InsideBitcoins.com, enjoying investing and trading the cryptocurrency markets in his spare time.