Frequently Asked Questions

Are you a scam?

Yes we are. If you are to believe any reddit mooner replying to us with "scam". Then proceed backing an ICO without reading the whitepaper.

Just kidding. If you are more reasonable and do fact checking, you can find out I'm a serial entrepreneur. The founder of jpopasia.com, leadsocial.com (acquired), and growthsub.com. Read the about us page to learn more about me.

Which exchange do you support?

At the moment we support CoinBase Pro. CoinBase supports 33 countries. Find the list of supported countries here. Is your country or exchange not listed? Just sign up and you stay updated on new supported exchanges, read this blog post about Binance support.

Note: As long as you can create a CoinBase and CoinBase Pro account, you can make use of our services.

Do you guarantee profits?

We NEVER guarantee profits. Run away from any service that claims so. As with any speculative investments like stocks, forex, only invest money you can and are willing to lose.

Which pairs do you support?

BTC only in the currencies USD, EUR and GBP. Read here why.

Can you transfer out my money?

Technically impossible. Any API key provided to us with transfer permissions will be declined.

Do I need to send you my coins to be managed?

Nope, you keep full control over your own money and coins. You do not send us anything.

How do you manage risk?

We take risk management very serious. Therefore we do not support exchanges with no fiat (Euro, Dollar) pairing, as we need a safe haven. We do not support exchanges with margin trading.

We only support Bitcoin as due to its size, is less prone to manipulation. All our trades have dynamic stop losses (not trailing only). Our automated systems are designed to exit the market within an hour during high volatility situations using automated market orders. Everything is monitored 24/7.

How secure is it?

We do not have access to your money or coins. We can not transfer money out of your account. All our services use SSL and the latest security updates.

What are the risks involved?

Theoratically you could lose all your money. Practically, it is designed to be less risky than if you just buy and hold. Simply because we exit the market once it turns down (in your sleep).

Do I need to install software?

CoinBakers runs in the cloud and communicates directly with your exchange using the API keys you provide us. No software to install or to maintain.

What is the recommended account size for trading?

We recommend 2,500 USD or more.

Always only invest the amount you are willing and can afford to lose! We are not liable for any losses of your account.

How much does it cost?

Check out our pricing page.

What returns can I expect?

We can not predict anything but you can take a look at our historical performance. Past performance does not predict future returns.

How many trades do you do per month?

Between 1 and 6. Sometimes none if we are in a long down market. Updates on strategies might change trade frequencies.

How long is an average trade?

Usually a couple days, sometimes weeks if the market keeps on running.

Are you using market or limit orders?

Limit orders that trail the market every minute until filled or market orders on highly volatile sell situations.

Can I trade a percentage of my account?

Not yet, but we are working on this.

I am quite inexperienced with crypto is this still for me?

Sure. Just get in touch with us and we can schedule a Skype/telegram call to explain more of the market and our service.

So I heard about this VIA API scam on Binance. Is my API key safe?

Your API key is important and you should consider who you give it to. If your API key gets exposed or gets in the wrong hands, you can revoke all access in your CoinBase account. So what happened with the VIA API scam was that scammers got the API keys from a service, like a bot, they then bought the alt coin VIA at inflated prices to get the money out of the accounts. Binance catched them and they actually lost money. Users that were affected were reimbursed.

So first, we can not guarantee we can not get hacked. We run on Heroku that runs on Amazon Web Services. All our servers and your trading server are restarted every 24 hours so always running the latest security patches. We save your API keys only for a maximum if 72 hours until we deploy your trading server. We will then delete your API keys from our database.

Secondly, we do not support Binance. Only CoinBase Pro where there are much less alt coins that could perform something what happened on Binance. Then again, Binance is a trustworthy exchange and handled the situation well, which was not their fault at all.

Your trading server has the API keys in the form of environment variables, which are much more secure then let's say a database. Even if there's a hack it's only contained to one server.

The reason we explain all this is because security is an important part of trading safely and trusting the services that handles sensitive data. We prioritize and focus on being a secure service. If you would like to know more about our security just get in touch with us.

The logo, is that a croissant?

It definitely is, nicely spotted!

Got any other questions for us?

Just get in touch with us here