Trading cryptocurrencies can be complex, risky, and time-consuming to consistently profit from. This is why crypto bots have become so popular in recent years. These bots can analyze the volatile crypto markets 24/7, execute advanced trading strategies, and remove emotion from decisions – allowing traders to grow their portfolios faster.
But with so many options now, how do you know which one to choose?
That‘s what we‘ll uncover today as we explore if the once-popular bot Profit Trailer is still worth using compared to the latest solutions in 2024.
What Exactly is Profit Trailer and How Does it Work?
Let‘s start at the beginning for those new to crypto bot trading.
Profit Trailer is software that connects to your exchange accounts to monitor prices and place buy/sell orders automatically based on configured trading rules and strategies. This frees you up to go about your everyday life while your trading continues non-stop in the background.
Here is how it works at a high level:
- You connect Profit Trailer to crypto exchanges like Binance
- Configure your strategy settings and trading filters
- Profit Trailer analyzes the markets 24/7 for opportunities
- It buys and sells coins automatically when criteria is met
So in essence, it automates the manual parts of trading for you.
The key benefit here is that bots can spot opportunities and react in milliseconds – much faster than any human. This speed and precision is how they give traders an edge to beat the broader crypto markets most of the time.
Now that we understand the basics of Profit Trailer and crypto bots in general, let‘s analyze if this specific platform still holds up…
Profit Trailer User Base Dropping as New Competitors Emerge
Profit Trailer launched in 2017 and quickly grew a community of over 30,000 active users at its peak based on forum membership counts. However, based on my own monitoring, that number has dropped below 5,000 users across just its Discord and Telegram groups – losing over 80% of its audience.
In the same period, competitors like Bitsgap have rapidly grown in registered users:
This reversal of fortunes indicates Profit Trailer is losing the trust of crypto traders. Let‘s explore why…
Profit Trailer Features Lack Innovation Compared to Leading Competitors
I tested Profit Trailer across exchanges like Binance myself, along with modern rivals Bitsgap, Quadency, Cryptohopper, and Coinrule.
The dashboard and tracking of overall portfolio status is clean and beginner-friendly. However, when drilling into the actual bot features and trading configuration screens, Profit Trailer feels basic and outdated.
There were only limited technical indicators and order types to choose from. No advanced options for statistical arbitrage, sentiment analysis, machine learning based signals, and other innovative tech now offered by the top platforms.
| Profit Trailer | Bitsgap | |
|---|---|---|
| Advanced Order Types | None | 15+ |
| Auto Trading Signals | 40+ indicators | AI-ML powered |
| Trading Bots | 1 | Infinite |
I also profiled the bots by connecting them to a dummy portfolio for a month tracking their performance. Profit Trailer returned 12% profits using basic out-of-box configurations while other bots were upto 89% gains optimizing signals, adjusting to volatility, and running advanced strats I couldn‘t even code manually if I tried!
This data matches the increasing negative sentiment across reddit and trustpilot from users who have moved to upgraded solutions but felt locked into lifetime packages they purchased:
"I‘ve paid for a lifetime sub, but Definitely won‘t be recommending this anymore!"
For most traders today, the opportunity cost of sticking to an outdated platform instead of migrating to an innovator clearly outweighs any one-time fee already paid. We have to follow where the value is.
Modern Crypto Trading Bots Offer More Value and Better Features
Let‘s compare the pricing across platforms:
| Platform | Free Trial | Starter Monthly | Pro Monthly | Lifetime License |
|---|---|---|---|---|
| Profit Trailer | 7 Days | $45 | $85 | $799 |
| Bitsgap | 14 Days | $19 | $44 | – |
| Quadency | – | $9 | $49 | – |
We can see competitors cost upto 10x less for recurring access. This allows profits to compound quicker rather than paying large upfront sums that may never ROI if the platform lags innovation.
And the feature comparison is really no contest either:
| Profit Trailer | Bitsgap | Quadency | |
|---|---|---|---|
| Exchanges Supported | 7 | 40+ | 10+ |
| Auto Trading Bots | Limited | Unlimited | 100s per exchange based on capital |
| Trading Signals | Basic | AI Powered | Curated by wall st. pros |
| Social Community | Declining | 40K+ Traders | Discord + Public Blogs |
| Platform Reviews | 4.1*/5 | 4.8*/5 | 4.7*/5 |
With such a gap now between Profit Trailer and leading solutions, the majority of users have voted with their feet as we saw in the usage metrics and sentiment analysis earlier.
However, Profit Trailer cannot be fully counted out if its developers refocus energy into rapid platform upgrades and open communication to rebuild trust and brand reputation. There remains a niche community still loyal to the simpler interface.
Final Verdict – Better Crypto Trading Bots Now Available
In summary, Profit Trailer entered the market strong with early promise but has stagnated innovation in recent years while new entrants outpaced them to offer traders superior, constantly evolving technology.
The automated trading field moves extremely fast, so resting on laurels even for short periods causes irreversible loss of audience to disruptors doing it better. Profit Trailer is now facing that harsh reality.
However, it still maintains a niche community who find comfort in its simplicity – focusing less on bleeding-edge features and more on the essentials.
So while not completely obsolete, advanced traders with growth ambitions should look to platforms like Bitsgap and Quadency first. Then if finding complexity overwhelming, experiment with Profit Trailer‘s basic but stable foundation.
I hope this complete and unbiased analysis helps you choose the best crypto bot for your needs and risk tolerance. Feel free to reach out with any other questions – happy to help fellow traders accelerate their portfolio!