Automata Feedback & Reviews

Hi, this is my first post (I think on radio I’d be referred to as “longtime listener, first time caller).

Has anyone used Automata before? I couldn’t find much out about them from their website

There’s a bit more info on their LinkedIn page. Their interest rates look tempting. Do you think they operate similarly to Nexo?

Welcome to the community.

There’s very little info about the company on the site , but the screenshots of the app look nice , maybe similar to revolut.

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These cryptocurrency investment apps always make me do squinty eyes. They all seem to have a huge amount of features, some even look well polished (this one has typos in the screenshots, though). But, they all make me uncomfortable: they feel like Ponzi schemes, they’re unregulated, high interest rates but how easy is it to withdraw and use that cash after? What protections are there? And they all seem to be obfuscated through loads of company names and parent companies and all that kinda stuff. :man_shrugging: I haven’t really looked into it in detail though as there’s not a great deal of info on the actual website.

Although as kolok says above this looks more like a Revolut clone.

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There are so many of these apps popping up, The market is so saturated at this point, they would have to be doing something really special in order to get me to sign up.

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Thanks for the replies. I have a Nexo account and have deposited a small amount of GBP it’s been paying interest at 10% APY (paid daily). Deposits and withdrawals have been straight forward and they claim your deposits are guaranteed/insured. I’d welcome peoples thought on this.

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