Pionex - has anyone experienced this exchange?!

[avikz]

Today I was trying to use Chatgpt to find an offbeat trading strategy to test over the weekend. Suddenly it suggested me a platform called Pionex where they have pre-made bot templates for us to use.

I am still trading the finer details but do we have anyone here who had tried this exchange and it's bots?

I am trying to understand the reality.

[Strongkored]

Have heard about the exchange for quite some time but have never used it, if I'm not mistaken this exchange is headquartered in Singapore.
When reading reviews on google, on average only report cheap fees compared to big exchanges like Binance.
Quite curious why chatgpt recommends this exchange.

[hugeblack]

Chatgpt is not a good place to get tips and the easiest manipulation of recommendations, just as dependent on the first result in Google's search
Regarding Pionex, it is better to avoid it, these are some reviews ---> https://www.trustpilot.com/review/Pionex.com
All talk about scam.

[joniboini]

Quite curious why chatgpt recommends this exchange.

I'm not familiar with how they source the data for their recommendations, but is it possible that they just collect search results from websites like Google, so any good SEO will automatically get picked?

I remember working to rate some AI results, and some of them do recommend obscure results from unknown websites just because they're the ones with the greatest matches to the user query.

[Pmalek]

I have heard the name Pionex mentioned in the past but I can't remember the context or if it was in a positive or negative light. I am not much of a trader and have zero experience with trading bots. I might be biased but I see such tools as disasters waiting to happen.

There are some older threads on Bitcointalk mentioning Pionex exchange and its free bots. I am sure you must have found them if you did some research. Just in case you didn't, here are three that you can take a look at:

• Pionex Exchange - 12 crypto trading bots, the biggest Binance Brokers
• 16 trade bots on Pionex exchange, no monthly fees
• I am testing different crypto trading bots ✅ Only real results, no bullshit

[tabas]

Chatgpt is not a good place to get tips and the easiest manipulation of recommendations, just as dependent on the first result in Google's search
Regarding Pionex, it is better to avoid it, these are some reviews ---> https://www.trustpilot.com/review/Pionex.com
All talk about scam.

I reckon this. It's just trying to gather information that it can find quickly. So, if an exchange has been so good with their marketing, it's mostly going to be mentioned even by a bot. Looking at their description of having "automatic strategies(bots)" it seems encouraging but I don't think that's how easy it goes. OP may try to trade on it for a few bucks for the sake of experience. Its sub-reddit has some posts though: https://www.reddit.com/r/Pionex/

[Text]

I just heard about this exchange now sounds like Poloniex so it got me a bit curious. I checked on CMC and it’s currently ranked around top #60. The platform looks pretty beginner-friendly and the fees are quite low too. But yeah even though they have bot they’re not magic you still need a solid strategy and market conditions still play a big role in how they perform. Best advice start small first while you're still getting a feel for the platform.

[Pmalek]

But yeah even though they have bot they’re not magic you still need a solid strategy and market conditions still play a big role in how they perform. Best advice start small first while you're still getting a feel for the platform.

Chances are that if you just buy bitcoin regularly and hold it for extensive periods of time, you will do better than the majority of traders. What active daily traders don't tell you is the numerous mistakes they make and all the money they lose due to unforeseen market movements. They only highlight their successes, painting a more beautiful picture than it really is. Trading is dangerous and isn't something you should take lightly, expecting to master it after having watched two or three YouTube videos.

[Z-tight]

I am still trading the finer details but do we have anyone here who had tried this exchange and it's bots?

I have not used this exchange nor their bot, i an not a day trader, so i do not really have any business looking for exchanges like this. Are you considering using this exchange only because of the pre-made bot for trading? However, since the exchange is not so popular, be careful using it, i don't know how much of an advantage the pre-made bot will be for you, so you may just be better off using a more popular service.

[Bitcoin_Arena]

Chatgpt is not a good place to get tips and the easiest manipulation of recommendations, just as dependent on the first result in Google's search
Regarding Pionex, it is better to avoid it, these are some reviews ---> https://www.trustpilot.com/review/Pionex.com
All talk about scam.

When it comes to exchanges. Trustpilot should be one of the last places you rely on. Now check the ratings of Binance - https://www.trustpilot.com/review/binance.com  


I have never used pionex, but they name used to be so common back in the day when I was dealing with different portfolio management apps and bots. I think at one point they even had partnerships with the likes bituniverse, and they would have a number of trading completions.

[BitMaxz]

I was thinking recently about an old exchange called Poloniex and thought this was similar, but after checking Pionex, it is different from Poloniex.


ChatGPT isn't a good place to ask this kind of question sometimes AI randomly gives you link that you never heard. Better avoid AI Chatgpt since most of the well-known exchange right now has builtin bot that you can use for trading.

[avikz]

Many thanks for all your replies! This is really eye opener, especially the Trustpilot reviews.

I understand that Chatgpt shouldn't be sharing such things, but this is really a bug that Open AI needs to work on. I was looking for trading strategy to test with small amounts. But it suggested me this website.

I strongly believe that there's no such thing called money making bots. Otherwise, we all will be rich. I like to verify things before using. Really appreciate all of your replies here.

[Bitcoin_Arena]

I strongly believe that there's no such thing called money making bots. Otherwise, we all will be rich. I like to verify things before using. Really appreciate all of your replies here.

Bots are more like AI. before you use any of the two, you need to know what exactly you want out of it. For bots, you need to know the different strategies and once you have your winning strategy. You simply automate it through the bot.
The bot is not going to think for you or create for you something profitable. That's what I learnt over time.

[BitMaxz]

I understand that Chatgpt shouldn't be sharing such things, but this is really a bug that Open AI needs to work on. I was looking for trading strategy to test with small amounts. But it suggested me this website.

Would you mind testing us exactly how this trading strategy works?

I just want to know if you can do it in manually instead of bots why not try the TradingView trial they have a backtesting tool and replay for manual retest of your strategy.
All you need is already on TradingView, you can take the trial and stop it later once you're done within a month.

For another simulator for Android, you can try "Trading Game - Stock Simulator". This is an app, but you can try your manual strategy here, but not for the bot.

[un_rank]

I understand that Chatgpt shouldn't be sharing such things, but this is really a bug that Open AI needs to work on. I was looking for trading strategy to test with small amounts. But it suggested me this website.

Chatgpt and other AI prompts gives lots of inaccurate results when compiling their response, but to understand why it gave you this answer, we will need to know exactly how you worded the search. Did you include trading bots or just looking for a trading strategy?

I strongly believe that there's no such thing called money making bots. Otherwise, we all will be rich. I like to verify things before using. Really appreciate all of your replies here.

You are right. It will just create a circle of more sophisticated bots being created, more people move to it and it stops being profitable, and the circle continues.

- Jay -