Algowave (not recommended)
We were running a day by day analysis of Algowave
We were first notified about Algowave through a contact on Linkedin.
We emailed the company and expressed our interest and we were contacted by Gal Buzalgo who is Algowave’s Customer Success manager.
Gal is highly approachable and if you have any questions about Algowave that you would like to address to Gal then he would be most happy to call you to discuss any questions you have. Hila, who is one of Algowave’s support team is also available on WhatsApp to discuss any issues.
This immediate and accessible contact is a big plus for Algowave.
All too often (as highlighted under scams) this is not the case. Websites with just a mobile number displayed that is permanently switched off, websites with no numbers displayed, customer support that is impossible to contact, web chat that has no-one answering queries are all hallmarks of scam companies and its a relief to report that Algowave do not fall into this category.
How does Algowave work?
Put simply , Algowave access the actual cryptocurrency in your wallet and process the coins through their trading algorithms. So although you will have funded your account with Bitcoin, if you check on the videos below, you will see that you will own not only Bitcoin but other cryptocurrency assets and its Algowave’s cryptocurrency algorithms that are selecting coins to exchange in order to grow the account.
Is Algowave a safe investment?
Algowave will charge you a percentage of your profit so if there’s no profit then there’s no charge so its clearly in Algowave’s interests to make sure their software is profitable. Unlike many bogus trading strategies that you will be invited to put your money into, Algowave do not guarantee performance. You will have up days and down days and that is the nature of trading. Be very suspicious of companies promising 2% or 3% or even a 5% DAILY return guaranteed.
This is simply not possible. Financial markets do not work in this way. Cash FX who I can highly recommend as a company (links on this website) have some of the best traders and best trading algorithms and they regularly and reliably achieve 1% per day. 1% is realistic. 5% is not.
My opinion is that Algowave is indeed a safe investment. Whilst Algowave might not always grow the account, there seems little risk that they could have a catastrophic sequence of losing that would threaten the account*
Below you will see Algowaves performance after 5 weeks. I cut the evaluation short as following 3 consecutive down days, my balance fell below the my initial deposit and I withdrew my funds. There are many investment plans that give a far better return than Algowave (see my other website www.ralfkdean.co.uk for 3 Worlds class investment opportunities).
It is entirely possible that Algowave just had a bad run and to be fair they did initially increase the size of my deposit but I consider Algowave to be a risk not worth taking.
How to get involved
In order to take advantage of Algowave you need to open 2 accounts with Binance and 1 with Algowave. Why you need 2 x Binance accounts is so because you need one wallet dedicated to Algowave which you don’t use and one wallet to store your Bitcoin and use as you would any other cryptocurrency wallet. You will need 2 valid email addresses in order to do this.
Why it is important to have 2 Binance wallets is that should you be unhappy with Algowave you can simply transfer all your funds from your Algowave wallet to your other Binance wallet and be safe in the knowledge that you have regained complete control of your cryptocurrency holding.
In order to open a Binance wallet with my referral code you need to go here: https://www.binance.com/en/register?ref=Y8NNTDIS
In order to open a Binance wallet with Algowave’s referral code you need to go here: https://www.binance/en/register?ref=37744647
In order to open an Algowave account you need to go here:https://webot.algowave.io?coupon=402623&of=009
If you get this screen on accessing the link above
Then simply hit the cross and you should be presented with this screen:
Enter 402623 as the Promo Code and you should see this:
Once you have registered your next step is to fund your Binance account that you created under my Y8NNTDIS referral link. Once funded you can then transfer funds from your deposit wallet to your Algowave wallet and set the A.P.I. key.
The A.P.I. key is the application and programming interface key that you will have to notify Algowave of. Below is a video on how to set-up the A.P.I. key.
Once you have setup this key and notified Algowave of the 2 keys (API key and secret key) and you have funded your Algowave Binance wallet, you will need to inform Algowave of the transaction id of your deposit to your Algowave wallet. The video below details how you can locate a Binance transaction id.
Algowave Progress monitor
Every Sunday for the foreseeable future I shall post a video of Algowaves progress for that week in the form of a video diary.
Week One - Introduction to Algowave - we begin
We started this assessment on the 12th February 2021 with a Bitcoin balance of .00900794.
12th February opening balance .00900794
13th February balance was .00928023.
14th February balance was .00964851.
So in a short week – week 1 saw a profit of .00064057 and this represents a 7.11% increase on the account.
Week Two - Algowave 15/2/21 to 21/2/21
15th February balance was .00952365
16th February balance was .00949162
17th February balance was .00926241
18th February balance was .00926774
19th February balance was .01002361
20th February balance was .01012434
21st February balance was .00990101
Week two saw a profit of .00037360 and this represents a gain of 3.96% on the account.
Week Three - Algowave 22/2/21 - 28/2/21
22nd February balance was .00975216
23rd February balance was .00849283 * this drop was very disconcerting as this was a larger fall than I had anticipated. I expected the value to fluctuate but this was a serious drop in the account.
24th February balance was .00951458 * a healthy improvement on yesterdays number
25th February balance was .00929147 * another drop
26th February balance was .00920929
27th February balance was .00920183
28th February balance was .00916606
Week three saw a loss of .0005861 which represents a 6.1% loss on the weeks balance.
Week four - Algowave 1/3/21 - 7/3/21
1st March balance was .00944477 * a good start to the week.
2nd March balance was .01027708 * an other excellent day for Algowave
3rd March balance was .01032617 * at this point I was feeling confident that Algowave was a good investment.
4th March balance was .01017682 * another set back
5th March balance was .00982722 * at this point I was beginning to think that Algowave could not achieve their promised results.
6th March balance was .00996847
7th March balance was .00994264
Week four saw a gain of .0049787 which represents a gain of 5.3%on the weeks balance
Week five - Algowave 8/3/21 - 12/3/21 Enough !
8th March 2021 balance was .01017811
9th March 2021 balance was .01025277
10th March 2021 balance was .01002215 * at this point I’m thinking about ending the analysis early>
11th March 2021 balance was .00942606 * at this point I decide to give Algowave 24 hours
12th March 2021 balance was .00930245 and I end the exercise and withdraw my funds although this proved somewhat problematical as they had active orders on the account and it took me 24 hours to withdraw my funds by which time the balance had dropped below my starting amount.
Algowave will charge you a percentage of your profit so if there’s no profit then there’s no charge so its clearly in Algowave’s interests to make sure their software is profitable. Unlike many bogus trading strategies that you will be invited to put your money into, Algowave do not guarantee performance. You will have up days and down days and that is the nature of trading. Be very suspicious of companies promising 2% or 3% or even a 5% DAILY return guaranteed. They do, however, promise to grow the account – a promise they could not keep.
A 29 day evaluation of Algowave resulted in having fewer BITCOIN in my wallet than when I started which is of course unacceptable.
Furthermore messages and emails to the company were not answered which is inexcusable and a good reason not to invest.
My opinion is that Algowave is NOT a safe investment and other investment opportunities should be considered (see below for details).
Algowave’s performance is too erratic to be considered safe.
Algowaves performance after 5 weeks was disappointing. I cut the evaluation short as following 3 consecutive down days, my balance fell below the my initial deposit and I withdrew my funds. There are many investment plans that give a far better return than Algowave (see my other website www.ralfkdean.co.uk for 3 World class investment opportunities).
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