Michael GrawTeslaCoin is a crypto trading robot that trades Bitcoin, Ethereum, and other top cryptocurrencies on your behalf. What makes this platform different from other crypto bots is that it uses Tesla Coin cryptocurrency (TES) as the store of value in your trading account.
Is TeslaCoin worth your time? In our TeslaCoin review, we’ll cover everything you need to know about this trading platform and determine if TeslaCoin is legit.
TeslaCoin Summary
Let’s kick off our TeslaCoin review with a quick summary of everything you need to know about this crypto trading robot.
| Withdrawal Timeline | Instant |
| Supported Cryptocurrencies | BTC, ETH, XRP, ADA |
| Mobile App | No |
| Claimed Success Rate | Not specified |
| Minimum Deposit | $250 |
| Trading Fees | None |
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
What is Tesla Coin?
TeslaCoin is an automated crypto trading platform, also known as a Bitcoin robot. The platform claims to buys and sells cryptocurrencies on your behalf in order to generate a profit.
According to the site, Tesla Coin can trade popular cryptocurrencies such as Bitcoin, Ethereum, Ripple, and Cardano. Buy and sell orders are controlled by an algorithm, so the platform can trade 24/7 on your behalf and never needs to take a break. It’s important to keep in mind 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 in order to start using TeslaCoin. You can test out the platform in demo mode and withdraw your funds at any time.
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
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 that has an internet connection, although there is no dedicated mobile app to access its features.
Therefore, it can be used on a smartphone (both Android and iOS), tablet, desktop PC or a laptop.
Which Exchanges and Brokers is TeslaCoin Partnered With?
TeslaCoin does not reveal which brokers it is partnered with and each individual user is assigned with 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:
| Is TeslaCoin available in the USA? | No |
| Is TeslaCoin available in the UK? | No |
| Is TeslaCoin available in Australia? | Yes |
| Is TeslaCoin available in Canada? | Yes |
| Is TeslaCoin available in France/Germany/Italy/Spain? | Yes |
| Is TeslaCoin available in Singapore? | Yes |
| Is TeslaCoin available in South Africa? | No |
| Is TeslaCoin available in Mexico? | Yes |
| Is TeslaCoin available in Nigeria? | Yes |
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 should they use it 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 your account is performing.
Trade Multiple Cryptocurrencies
TeslaCoin currently trades 4 cryptocurrencies: Bitcoin, Ethereum, Ripple, and Cardano. All 4 of these are major cryptocurrencies, in the top 10 digital currencies by market cap. So, there is a lot of trading volume and a lot of volatility in these coins, 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 what your profit and loss would be. It also enables you to 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.
| Deposit/Withdrawal Fees | None |
| Trading Fees | None |
| Minimum Deposit | $250 |
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 completely 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 was nothing to do with the trading bot.
TeslaCoin only has a limited section on TrustPilot, with only four reviews.
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 Celebrity Endorsements
TeslaCoin has been subject to numerous links to celebrity endorsement and even had its name used to scam investors out of money with rogue Facebook ads (that had no connection to the trading bot).
From our research, we found absolutely zero evidence that any celebrity or high-net-worth individual is connected to TeslaCoin.
Does Elon Musk own TeslaCoin?
Tesla owner Elon Musk is the world’s richest man and a known crypto enthusiast, but he has no connection with TeslaCoin, with the website making that clear on its homepage.
Does Tesla own TeslaCoin?
No. As mentioned above, there is no connection between EV manufacturer Tesla and TeslaCoin, except the name.
Does Jeff Bezos Endorse TeslaCoin?
We found no evidence that Amazon owner Jeff Bezos endorses TeslaCoin.
Does Martin Lewis Endorse TeslaCoin?
British TV presenter and financial expert Martin Lewis has no connection to TeslaCoin
Was TeslaCoin on Good Morning Britain or Dragons’ Den?
We found no evidence that TeslaCoin has ever been mentioned on Good Morning Britain or Dragons’ Den, or any other TV show.
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 get in touch with customer support before you sign up.
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 make a payment 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 have to 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 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.
Latest Bitcoin News
Smart investors and traders make sure to keep up with the latest Bitcoin news and in the wider crypto space. Here are some of the top headlines from the week ending January 29, 2023:
- US State Senator Rep. Wendy Rogers has introduced a bill asking to make Bitcoin legal tender in her state of Arizona.
- Goldman Sachs has revealed that Bitcoin beat the Nasdaq 100, S&P 500, gold and US Treasury bonds to be the best-performing financial asset of 2022.
- London-based crypto exchange Luno has told employees they will have to axe 35% of staff in the coming weeks.
The Verdict
Our TeslaCoin review found that this crypto trading robot is trades Bitcoin, Ethereum, Ripple, and Cardano automatically on your behalf. The robot trades 24/7 and claims it can automatically detect the most profitable patterns for trading.
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.
Want to try trading with TeslaCoin? You can click the link below to get started today.
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
Frequently Asked Questions on TeslaCoin
What is TeslaCoin?
Is TeslaCoin legit?
How do I join TeslaCoin?
Does Elon Musk endorse TeslaCoin?
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This article was written for Business 2 Community by Michael Graw.
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