Do you have any questions before commiting to download and start using Superalgos?

Is this safe? Will I be spied, robbed, or scammed?

We do our best to make Superalgos as safe as it gets. This is how:

  1. The software is open-source. This means that any developer or technical person out there may read and audit the code and verify if there is hidden malware or anything of the sort. There are many developers in the Community, many of them conducting deep reviews of the code. Developers tend to engage with interesting code like regular people would engage with a piece of literary work. They do this to fully understand how the software is built so that the may figure out how to best build on top of it. This is the true spirit of open-source software. Developers ask questions and engage with the core team all the time.

  2. Do not mistake open-source with software given away for free. While Superalgos is both open-source and free software, it is not the same as free software, period. Free software that is not open-source is shipped as a black-box. That is, no one knows what it does. It is the open-source nature of software that makes it transparent, therefore trustworthy.

  3. The system runs on uncompiled code, that is, all of the code may be easily read by any programmer. There are no binary files which are much harder to interpret and audit.

  4. The code is maintained on GitHub, in a public repository, using GIT technology by which every single change made over the years is recorded and may be audited at any point. This process guarantees transparency in all stages of development.

  5. The software runs in your computer, under your control. This means that when you set up your exchange API keys to trade live, the keys remain in your computer. Web-based services require you to upload your API keys, therefore, trusting them to the service provider. Always remember the teachings of the wise man… “Your keys, your coins. Not your keys, not your coins”.

  6. No third parties are involved in network communications. The software runs on your computer and connects directly to the exchange using your API key to access your account, trading directly from within your account. No third party is involved in any of your transactions. You do not need to trust your API keys, your funds, your personal information, or your strategies with anyone. No communication is established or data is sent to any party other than the exchange. This may be easily verified by people knowledgeable in networks, who may monitor the transfer of packets sent and received from and by the system.

  7. Alignment of interests. The software is free and open-source because it is the backbone of the project. The project will succeed if the software gets adopted. Thus, the interest of the project is perfectly aligned with the interest of users. The better the software, the more people will use it, and the larger the Collective Trading Intelligence the project may achieve.

  8. Community-built strategies are open-source too and maintained on GitHub using GIT technology, as well. The documentation explains how strategies work, and we encourage users to educate themselves as much as they can.

  9. We do not make irresponsible claims regarding the performance of strategies. There is no “get-rich-quick approach” in Superalgos. We simply report backtesting results, and we report the live performance since the day they where released. You may backtest strategies, verify their performance, set your parameters, and even modify them and produce your versions if you wish. We urge users to take all possible precautions and to try to understand what strategies do and how they work before they start trading live.

  10. Strategies are easy to read too and are stored in a file in the JSON format. All of the rules are written using simple mathematical statements. You may easily change the rules and test how the changes affect the results from within the system, or by reading the JSON file in a text editor.

  11. The team behind Superalgos is not anonymous. On the contrary, the team is introduced on the website, and we all deal in all media using our real names, taking responsibility for everything we do. Our reputations are on the line.

How may I minimize the risks of trading using software?

There are many things you—as a user—may do to bring the risk down to a minimum. The following is the most conservative or cautious approach a user may have to get started trading with Superalgos. It is up to you how much or little risk you wish to take, and to manage the risk to suit your style, personality, and goals:

  1. Create a specific exchange account or sub-account to use with Superalgos. In this way, when you create an API key to access the account from within Superalgos, the key has access only to that sub-account.

  2. Deposit a minimal amount. In your new sub-account with the exchange, deposit the minimum amount required to make a transaction. In the case of Binance, the minimum transaction amount is about 10 USD or its equivalent in crypto. In this way, your whole risk is limited to that amount.

  3. Give the API key transaction rights only. When you create a new API key to access the new sub-account from within Superalgos, make sure you grant the key transaction rights only. Do not grant withdrawal rights. In this manner, if for some reason your keys fall on the wrong hands, an attacker would not be able to withdraw funds.

  4. Get started with a paper trading session. Before starting trading live, you may get acquainted with the system running paper trading sessions instead of live trading sessions. Paper trading sessions are live simulations running with real-time data feeds from the exchange, without actually placing orders. They allow you to understand how strategies work and analyze their live performance without actually placing orders at the exchange. Paper trading sessions do not require setting up your exchange account keys in Superalgos. These types of sessions may also be used to get signals over Telegram and acting on them discretionarily instead of letting the system trade in an automated fashion.

  5. Before you commit to trading live study and learn as much as you can, both about how Superalgos work, and, in case you intend to use open-source strategies, about how your strategies of choice work. Ideally, you would understand which strategy may be used to achieve your own goals at trading, and which conforms to the level of risk you are willing to take. The more you know, the more educated the decisions you will make.

How risky is it to trade with open-source strategies?

Trading crypto-assets is an inherently risky activity. You may lose all of your capital. We can not asses the risks of trading for you. Please, study the strategies you wish to use, do your own research, and consult your financial advisor.

Do I need to trust my API keys to someone?

No. The software runs in your machine, and you set your API keys in your machine only. The system running in your machine connects with the exchange only; no third parties intervene in any way in your transactions with the exchange.