Growlonix Review

What is Growlonix?

Before getting into the intricacies of this Growlonix review, let’s start from the ground up – what is Growlonix? As I already mentioned, it’s a comprehensive trading platform that provides users with automated trading possibilities.

It’s not your usual crypto exchange, though. It’s a one-stop shop that allows trading on several exchanges at the same time. You simply need to connect your Growlonix account to your desired crypto exchanges using API keys and start trading on them in an optimized and automated way.

The best part is that Growlonix supports a variety of popular crypto exchanges, including Binance, KuCoin, Bybit, and others. This also means that it does not hold your funds; they are held by the crypto exchanges to which you connect your account.

Moreover, it’s worth noting that Growlonix is a platform that’s fit for all levels of expertise. If you’re a beginner in the crypto world, you’ll find that its simple-to-use interface, AI-assisted bots, and the paper trading option are just what you might need to start.

However, if you’re an experienced trader, you’ll also find all these useful, alongside the fact that you can make some advanced modifications to the aforementioned features as well.

On top of that, the platform prides itself on strong security measures. However, I’ll get into more detail on the question “Is Growlonix legit and safe?” in a second, as well as go over its main features and explain how to use Growlonix.

That being said, let’s get to it!

Growlonix Review: PROS

Firstly, I want to focus on the strongest suits of the platform in my Growlonix review. This includes its security measures, trading bot selection, and other noteworthy features.

Fund Safety as the Top Priority

What is the first aspect any cautious user should look into before starting out with a new platform (especially one in the crypto realm)? If you’ve answered “security,” you’re completely right.

So, is Growlonix safe? Well, let’s see.

For starters, Growlonix employs encryption for safeguarding the storage of API keys. This is of paramount importance since these keys serve as the vital link between the platform and your selected exchange accounts, granting access to your funds and enabling trading operations.

Moreover, Growlonix goes the extra mile by implementing Two-Factor Authentication (2FA) as an additional layer of security. This added step ensures that only authorized users gain access to their accounts.

In addition, the platform offers IP whitelist support, a feature that acts as a virtual doorman. It allows only pre-approved, trustworthy IP addresses to connect with Growlonix, effectively blocking any unauthorized access attempts.

But that's not all – Growlonix also fortifies its defenses with robust DDoS (Distributed Denial of Service) protection and deploys an advanced Cloudflare firewall. These security measures provide an additional shield against potential threats.

Also, let’s not forget the fact I've mentioned earlier in this Growlonix review – the platform doesn’t really hold your assets, they are all stored on the exchanges to which you’ve connected your account.

So, when it comes to the burning question, "Is Growlonix safe?" – the answer, based on user reviews and the platform's advanced security protocols, is a pretty solid "yes".

Now that we got that out of the way, let’s talk about its star features.

Leave the Hard Work to AI-Assisted Trading Bots

The key feature of the platform that should take the spotlight in any Growlonix review is its AI-assisted trading bots. These bots are smart, for sure – they use algorithms, historical data, and market conditions to make precise trades. Thus, they are a great option for everyone, but especially less experienced crypto traders who are just getting started with bot trading or trading, in general.

Overall, as of writing, it has eight trading bot types – Spot Grid, Futures Grid, Spot DCA, Futures DCA, Dual Grid, Hedge Grid, Inverted Hedge Grid, and Signal Bot.

All these bots differ in their risk levels and, of course, strategies. For example, Dual Grid bot is a low-risk bot that keeps both long and short positions across all grid levels at the same time, hence the name. It is fully hedged for the lowest risk, being able to operate well under both – bullish and bearish market conditions.

Hedge Grid bot, on the other hand, has medium risk. It opens long positions above your entry point and short positions below it. The bot follows trends and mitigates risk while exploiting the market's natural oscillation.

For those with a penchant for risk, there’s a Future Grid bot, which is high-risk because it is used for leveraged long and short positions. So, it offers amplified grid trading benefits.

I will not go into details about each bot, but you should get the point – there are various options for any risk profile. Though, it’s worth noting that with Hedge Grid and Dual Grid bots, which employ hedging strategies, you have 4 times lower risk in comparison to traditional grid bots.

Of course, trading with bots is still risky, even if it’s a “low-risk” bot. So, make sure to proceed with caution. Luckily, you can use the paper trading option to test out the field without putting your funds at risk.

Additionally, there is a Leaderboard where you can see bots set by other users. It shows the market, type, running time and ROI. The best part about this? You can copy these bots and run your own. So, Growlonix also provides a copy trading feature. What more can a trader, especially a beginner, want?

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Fewer Headaches for You With Automated Trading Signals

Maybe trading signal automation is what a trader would also want. What’s better than shedding the need to constantly monitor EVERYTHING in the crypto space?

Luckily, Growlonix has just the right tool for that – dynamic trading signal automation. It allows you to create signal triggers linked to email, Telegram or webhook.

What on earth are these trading signals? Essentially, they are the green or red light (based on a preset checklist) telling you when to buy or sell certain assets on certain crypto exchanges.

They are not sent from above, though. The signals are either sent by professional traders who constantly analyze the market and social factors surrounding it or are created using algorithms^[1]. The means of sending trading signals usually include Telegram, email or text messages. Though, the most popular one is Telegram.

The signal itself normally includes the action (buy / sell), the coin for that action, the price at which the action should be made, and take profit / stop loss order. One can look something like this:

1.10.2024/ 15:36 BUY BINANCE ETH/USDT 1567.24, tp 1661.54, sl 1490.78

Now, let’s admit it – it’s not that easy to use these trading signals as you have to be constantly alert.

This is where Growlonix comes into play - it allows you to configure webhook, Telegram, and email signals and then set automatic triggers on your open positions. Once the signal comes, it will trigger your order to take certain actions, doing all the work for you.

How to use Growlonix signal automation, exactly?

If you want to configure webhook signals, you’ll have to generate a secret key, use it to send a signal in a specific format to a designated webhook endpoint, and then you’ll receive a response confirming the signal's status and details.

Telegram signals, on the other hand, are sent using Channel ID, integrating the Signal Bot, and sharing signals in a structured format for efficient communication.

To integrate email-based signal delivery, you’ll have to send your trading signal to a designated email address. Just make sure to use the email with which you registered and structure your signals in a clear format.

Also, just like all other features on Growlonix, this one has a demo version. Thus, you can test out everything on the platform without risking real money.

Now, are there any other noteworthy features?

Open Unique Orders on a Professional Trading Terminal

The last feature that is a must in my Growlonix review is its professional trading terminal. Once you connect your exchange accounts, you can open positions on them straight from the platform.

The best part is that Growlonix’s trading terminal has a user-friendly interface. So, even if you’re a beginner, you shouldn’t get lost. It’s much less complicated than trading interfaces you can find on the usual crypto exchanges.

On the left, you’ll see a simple interface that will allow you to submit various orders, while on the right, you’ll see a price chart of your chosen trading pair and some information about your account.

Besides, if you scroll down, you’ll see your open orders, order history, your configured triggers, and an overview of various trading pair performances.

While the order-placing interface is pretty basic, if you’re an experienced user, you can also access advanced order settings.

Speaking of orders, the Growlonix crypto platform has a pretty wide variety of those, including the usual limit, market, and stop orders, as well as more unique ones, like trailing stop, stop loss, take profit, OCO (One-Cancels-the-Other), and OSO (One-Serves-the-Other).

This order selection is definitely a thing that should be mentioned in the pros section of any Growlonix review. I won't go into detail about each order, but I do want to briefly discuss OCO and OSO orders because these sound the most unique.

When it comes to OCO, it’s a type of order that cancels one of the orders automatically when another one is executed. In essence, it's a way for traders to set both a profit-taking level and a loss-limiting level simultaneously, ensuring that only one of these conditions will be met. However, there’s not only the possibility of opening OCO buy or sell orders, but also OCO (TSL+TP) and custom OCO orders.

In addition to that, you can open custom OSO orders, which essentially allow you to make two orders of various types with the assurance that when one is complete, another will be activated.

If all of that seems quite intricate and scary, don’t worry; Growlonix offers a paper trading option for all its features. Therefore, you can test out all these complicated-sounding orders in a simulated environment, taking your real funds out of the equation.

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Growlonix Review: CONS

I went over all of the best parts of this platform in my Growlonix review so far. However, it’s always important to look at both sides of the coin, which means I must address the drawbacks as well.

To be honest, though, I didn’t really notice many drawbacks of the platform. The only thing I must highlight is the fact that trading bots overall are not some magical never-make-a-mistake devices.

Trading Bots Are Useful, but Not Foolproof

Trading bots, though cleverly programmed, do come with a catch. They're heavily reliant on historical data and fancy algorithms for decision-making. Of course, this goes for all trading bots, not only those that belong to the Growlonix crypto platform.

Now, here's where it gets interesting. The cryptocurrency market, unlike some well-behaved financial sectors, is a bit of a maverick. It thrives on unpredictability, regularly throwing curveballs in the form of "black swan" events that can leave even the most sophisticated algorithms confused.

Sure, as I’ve mentioned before in my Growlonix review, its trading bots are equipped with AI that diligently monitors market conditions, and, with the correct guidance, these bots can be pretty accurate^[2]. The automated signals also help a lot, but let's not kid ourselves – bots are not human. They still lack that innate human intuition and adaptability.

So, while trading bots can be powerful tools in your crypto arsenal, they don't come with an ironclad guarantee of success. It's like having a trusty co-pilot who can handle most of the journey but might need you to take the controls in turbulent skies.

Growlonix Pricing: Free and Paid Plans

Now, what kind of Growlonix review would this be if I didn’t go over Growlonix pricing? An incomplete one, for sure.

So, can you use the platform for free? Yes. Are there any paid plans with more benefits? Also yes! Overall, there are three Growlonix pricing plans: Free, Premium, and Business.

The Free plan is a great option for beginners or those who just want to try out the platform. It allows you to access almost all the platform’s features (except order expiry), just with some limits. You can make 100 monthly orders in total, have 10 open orders at once, 5 active DCA Bots, and 2 running Grid Bots.

You're likely to notice this plan being boasted in several user Growlonix reviews. I’d even say that it’s not THAT limited. However, the Premium plan surely offers more freedom.

Speaking of which, Growlonix’s Premium plan allows you to make up to 10000 monthly orders, have 250 open orders at once, 50 active DCA Bots, and 10 running Grid Bots. Plus, it offers 365 days order expiry, which the free plan lacks. 

What are the Growlonix fees associated with this plan, though? Well, again, you have options. If you want to pay monthly, it will cost you $25 per month. However, if you want to save, you can also pay quarterly ($22.50/month), half-yearly ($20/month) or yearly ($17.50/month).

So many options, right? I’d say the yearly plan is definitely your best bet, but it’s nice that there is a no-strings-attached monthly option as well; this one is harder and harder to find these days.

Table: Growlonix Premium plan pricing options

Besides, once you sign up, you’ll get a 1-month free trial of the Premium subscription, so you can see how it fits your trading habits before putting money into it.

Now, remember I told you there are three Growlonix fee plans? The third one is the Business plan, which is fit for those who want to get a plan for their workplace, for example. Though, all order limits and pricing are custom, so you’ll have to contact the Growlonix crypto platform to negotiate the best option for you.

To sum up, there are no Growlonix fees for individual transactions, and you can use the platform completely for free with some limitations. If you want to bypass those, you have a paid individual Premium plan or a negotiable one for businesses.

How to Use Growlonix?

So far in this Growlonix review, I’ve covered what is Growlonix, all the key features of the platform, and answered such questions as “Is Growlonix safe?” or “Is Growlonix legit?”.

There is only one question left to be covered – how to use Growlonix? First, let’s go over the sign up process.

How to Sign Up to Growlonix?

Long story short, you just need to pass the familiar-to-all registration process - there are no unexpected twists or turns. Let’s look into it in more detail, though.

Step 1. Click on the “Get Started” button at the top right corner of the Growlonix homepage.

Step 2. A registration window will open. Here, you just have to do the usual – fill in your name, email address, come up with a password, confirm you’re not a robot, and read the Terms & Conditions.

Step 3. Now, you’ll have to confirm your email. In the confirmation letter you’ll receive, click the “Verify Email” button.

Step 4. Once all is set, you’ll just have to sign in with your newly created account, and you’ll be taken straight to your dashboard.

Step 5. Now, the registration is over, but this is where it could get a little confusing. Once you’re in, you’ll notice an error at the right corner of the screen stating that the API key was not configured.

Don’t worry, this is the case because you haven’t connected any exchanges (or, precisely, API keys of the exchanges) to your Growlonix account yet.

Step 6. To add an API key, go to settings and click “Add Exchange”. Then, just select the exchange you want to connect, come up with a custom label for it (a name, so to speak) and fill in the API key and secret key.

To get these keys, you’ll have to go to the exchange you want to add, find API configuration settings, and create an API key specifically for Growlonix. If you do that all successfully, you’ll see something like this:

That’s it! Now, you can also connect to other exchanges, trade, create automatic signals or set up a trading bot. Speaking of which…

How to Set Up a Trading Bot on Growlonix?

Trading bot configuration can sound a bit scary and complicated. Don’t worry, it’s actually not. Just follow these steps:

Step 1. Navigate to the “Bot” tab in your dashboard.

Step 2. Pick the bot you want to use. For the sake of this Growlonix review tutorial, I’ll go with the Dual Grid bot.

Click “Create”.

Step 3. Before starting to configure your bot, make sure you’ve picked the right exchange. You can find a drop-down menu above. Do note that Dual Grid bots are made for Futures exchanges only.

Though, you can experiment with this bot in the demo version, even if you haven’t connected to a futures exchange yet.

Step 4. Now, you have two options. You can simply pick from one of the recommended investment strategies and click “Fill AI Parameters”. It will complete all necessary parameters.

Another option is to pick the trading pair yourself and the risk level, plus click the “Fill AI PArameters”. It will also fill in the parameters for you.

Of course, if you’re an experienced trader or you simply want more hands-on experience, you can also change these parameters yourself.

Step 5. Once you’re happy with the parameters, adjust the leverage (the higher the leverage, the more risk), fill in your investment amount, and click “Create”. That’s it!

Step 6. To monitor, configure or cancel the bot, click on the “Active” tab above the box.

You’ll be taken to the bot trading history page. The red button there will turn off the bot, while the one with three dots will take you to in-depth bot analytics. You can access these analytics on both active and inactive bots.

That’s pretty much all I have to say in this Growlonix review about Dual Grid bot configuration. Of course, each bot might have a bit different setup process, but you can find more tutorials on the Growlonix website.

Pros

• Very low trading fees
• Exceptional functionality
• Mobile trading app

Main Features

• Very competitive trading fees
• An intuitive mobile app
• Up to 100x leverage available

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Pros

• A very well-known crypto exchange platform
• More than 500 different cryptos available
• Two-factor authentication

Main Features

• Over 500 different cryptocurrencies available
• Strong security
• Small withdrawal fees

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Pros

• Fully reserved and transparent
• Multiple tradable asset classes
• Early new token support

Main Features

• 265 supports cryptocurrencies
• Secure & transparent
• Fully reserved

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Conclusions

Put briefly, Growlonix is an automated trading platform for newbies and crypto veterans that allows them to connect to popular crypto exchanges. It provides an all-in-one environment for trading optimization and automatization.

There are three key features that turn heads in several Growlonix reviews – trading bots assisted by AI, trading signal automation, and a comprehensive trading terminal with a variety of order types. All of these features can be tested out using paper trading as well.

If you’re wondering whether Growlonix is safe and legit - it is. The platform employs several advanced security measures that safeguard your account from many threats. Nevertheless, trading bots are not foolproof, which means that even if they do automate your trading experience, you still need to be cautious.

The content published on this website is not aimed to give any kind of financial, investment, trading, or any other form of advice. BitDegree.org does not endorse or suggest you to buy, sell or hold any kind of cryptocurrency. Before making financial investment decisions, do consult your financial advisor.

Scientific References

1. D. Garcia, F. Schweitzer: 'Social Signals and Algorithmic Trading of Bitcoin';

2. A. S. Murthy, A. Akshay, B. R. Hanji: 'Cryptocurrency Trading Bot with Sentimental Analysis and Backtracking Using Predictive ML'.