Is TruePNL safe?
Security is just as important for cryptocurrency investments as earning a profit. In this post, we’ll cover the safety aspect of the two current TruePNL products: the robo-trading marketplace and the Launchpad.
Stay safe while robo-trading
TruePNL’s fully automated strategies allow you to copy the trades opened by the 10+ bots designed by our in-house quant-trading team. Some of the bots yielded over 30% in profit in the past month, which is more than a beginner trader can hope to achieve on their own.
All you need to do is connect a bot to your Binance account using API. This is the part that some users get concerned about: an API connection gives the bot permission to perform certain actions with your Binance account (open and close trades). Is it safe to do?
The answer is yes. The API key allows the bot to open and close trades, but nothing else. It absolutely cannot, under any conditions, withdraw funds from the account. You remain in control of your crypto at all times.
Another question we often get from users is, will I have to transfer my funds somewhere else to use the TruePNL bots?
No, you won’t! The bots trade on your existing account: that’s the essence of robo-trading. Transferring funds to a third-party to be traded on your behalf is called digital asset management, and it can indeed be risky if the platform isn’t trustworthy. But with our solution, you always have full access to the crypto and can even deactivate the bot at any moment.
Safe Launchpad investments
There are quite a few blockchain launchpads out there, and while they are much safer than ICOs, there are some security concerns associated with them:
1) Project quality: the risk that the projects on offer might turn out to be scams;
2) Shady payment terms: the risk that the platform will charge hidden fees or fail to transfer the tokens;
3) Bots: the risk that all the tokens will be instantly bought out by bots, forcing real investors to purchase them at inflated prices;
4) Centralization: on IEO launchpads, the organizers are the only ones to know the terms, allocation details, and participant lists.
The TruePNL Launchpad tackles all these concerns. First, the project selection process will be very rigorous and involve highly qualified market experts. From the MVP to the team’s experience, everything will be taken into account.
Second, investors will not be asked to submit any advance payment or pay any hidden fees. Every investor needs to pass a KYC verification; in return, we guarantee that the fundraising mechanism is 100% transparent and secure.
Finally, when it comes to allocation, TruePNL uses a Fair Distribution model that excludes the risk that bots or sneaky users with multiple accounts might gobble up all the tokens. Our system of pools allows every $PNL user to get a guaranteed allocation depending on their contribution to the ecosystem (see the Pools section of the Guide for details).
For large investors and funds, we’ll have a separate pool (Whale Pool), so that whales and retail investors don’t compete for the same allocations. Finally, we’ll have a Lottery Pool for those investors who haven’t yet joined the TruePNL ecosystem and so can’t participate in the regular pools. Everyone who holds at least 0.1 ETH or 1 BNB will be entitled to a ticket and a chance to win a token allocation.
To summarize: we’ve taken care of all the aspects of our users’ safety. TruePNL products are secure and transparent: when trading with the automated strategy, you remain in full control of your funds, and when investing on the Launchpad, you won’t risk that your tokens will go to a whale.
We already have 800+ users earning a profit with the robo-trading strategies, and the first token allocations on the Launchpad should become available in just a few weeks. Stay tuned — join the TruePNL Telegram group and follow us on Twitter!