5 min readDec 2, 2019

Dex is a bit of an outsider when it comes to bot trading. Rather than working with individual exchanges and API keys, you have to buy their token. These tokens or coins are then pooled and used by a fully autonomous system that basically has 3 overarching risk strategy pools, Safe, Moderate, and Aggressive. Each which is made up of many bots trading varying strategies with smart logic across a number of exchanges and currencies.

According to their website you can withdraw your principal at any time but your investment is placed in their hands so to speak. I have mixed feeling about this to be honest, but Dropil ensures us it is NOT a lending platform. They don’t lend out your money anywhere, there is no lock period, returns are not based on time or staking and there is most importantly no multi-level marketing or down-line system in place.

The profit cycle is 15 days. If you also want to withdraw any profits you’ll have to respect that cycle and wait for it to finish.

Of course, there’s never a 100% guaranteed way to check how their backend works to verify if this is not some Ponzi scheme but because the drop tokens are recorded on the Ethereum blockchain it makes them at least trackable. This adds “some” layer of transparency.

You can get started with just $50 and there’s no cost involved to use their service other than buying the Dropil coin, named “DROP”. Apparently, around 90K people trade using their platform.

Dropil will make money in the future by offering a premium solution and also as stated higher if you cancel and withdraw in a 15-day cycle rather than at the end, they get to keep the profit for that cycle.

The idea behind Dex seems to be to pool funds which allows them to run different strategies and different coin pairs on different exchanges. This way they spread the risk.

Since it is fully autonomous the most difficult part is not the trading but buying the drop tokens since they’re not yet listed on the more commonly used exchanges.

Where to get these drop coins?

Any of the following exchanges shown above can be used to purchase drop coins (click on the images for a link).

How to do this?

Buy Ethereum (ETH) or Bitcoin (BTC) with fiat money using Wirex (explained here why you should use Wirex instead of Coinbase: )
Send the purchased cryptocurrency to an exchange that supports the Drop token
Convert from ETH/BTC to Dropil token
Send Drop tokens to the Dropil platform

How to Setup Dex for the First Time?

Rather than going into detail here I’ll refer you to the YouTube video below which takes you through the whole process.

How to setup Dex

At https://insights.dropil.com you can get an overview of how many users they have, how much money is being traded, how the funds are allocated …etc.

Conclusion

I am not running this bot myself, because I’m currently running too many bots already and because I prefer to keep my funds on my exchanges and interact through API keys. However, I might put a small amount of money on this bot in the near future to test it out.

As always with these sort of bots, where you don’t directly hold the keys to your money be cautious try to take your principal out as soon as you can and let it trade with your profits.

The above references an opinion and is for information purposes only. It is not intended to be investment advice and may contain affiliate links. Seek a duly licensed professional for investment advice.