What Is Bitcoin Bank? Bitcoin Bank Review for Canada
BTC Bank is one of the numerous cryptocurrency robots that operate in the cryptocurrency industry, promising profits to account holders who invest their money into Bitcoin. The automated trading platform claims to use trading bots powered by AI technology to make trades with the funds you deposit into your account. This technology reportedly scans crypto exchanges and monitors market trends to find smart investments.
The aim of trading apps such as the Bitcoin Bank app is to buy Bitcoin at a low price and sell it for a profit later.
However, while cryptocurrency is still in its infancy and the market is still very volatile, Bitcoin Bank app encourages you to try auto crupto trading in a bid to open a whole new avenue of investment properties.
The concept behind the platform is relatively simple. On the surface, you do not need any prior knowledge of Bitcoin to start investing your money in the market. However, while the company infers that a Bitcoin investment can be life-changing, the truth is far more complicated — particularly when automatic trading is concerned. For starters, this type of trading is very high-risk, especially when you cannot verify the reputability of Bitcoin Bank’s partnered brokers.
Note that the dollar figures in this review refer to USD and not Canadian dollars. This is because the amounts specified by the app are in USD, and Canadian users' funds will automatically be converted to USD based on the existing exchange rate.
Bitcoin Bank Overview
|🤖 Robot Type:||Auto Trading Robot|
|💸 Minimum Deposit:||$250|
|✅ Is It a Scam or Legit?||Legit|
|🚀 Claimed Win Rate:||88%|
|💰 Trading Fees:||None|
|💰 Account Fees:||None|
|💰 Deposit/Withdrawal Fees:||None|
|💰 Software cost:||Free|
|⌛ Withdrawal Timeframe:||24 Hours|
|💱 Supported Cryptocurrencies:||BTC, ETH, XRP|
|💲 Supported Fiats:||USD, EUR, GBP|
|📱 Native Mobile App:||No|
|🖥️ Free Demo Account:||Yes|
|🎧 Customer Support:||Email, Live chat|
|✅ Verification required:||KYC|
|🔁 Automated Trading:||Yes|
|📈 CFD Available||Yes|
Pros and Cons of Using BTC Bank
What is the Bitcoin Bank Team?
The Bitcoin Bank team consists of professional traders and experienced software developers. We couldn't find the specific names of the owners, however.
Getting Started With Bitcoin Bank
If you are a beginner in the cryptocurrency market, you probably are wondering how to get started with Bitcoin Bank app. Do not fret because the bot is user-friendly and designed to be used by both new entrants and experienced traders in the cryptocurrency market. Take a look below at our brief overview of how to start. Remember, the bot is connected to regulated brokers, so ensure you choose the best-suited broker for your needs before starting.
Register for a Trading Account.
Deposit funds with your broker.
Customize your trades, buying points, selling points, etc., and start trading.
Bitcoin Bank Markets, Assets, and Options
What cryptocurrencies and products can you trade using Bitcoin Bank?
This trading robot is specifically tailored for digital assets, meaning you can’t use it for assets like forex, stocks, commodities, and so on. Therefore, if you diversify your portfolio with assets from different markets, consider other bots. For traders and investors in the cryptocurrency market, Bitcoin Bank offers trading options for some of the most popular cryptocurrencies. The full list will be determined based on the broker that you choose to use.
What leverage trading options are there with Bitcoin Bank?
During our research for this review, we could not find any conclusive information on the leverage trading options on the Bitcoin Bank platform. However, if the service is like other auto traders, you should expect potential leverages of 1000:1 at least. While this may seem like an enticing proposition, most regulated brokers would never offer such massive leverage options. Therefore, if you intend to sign up, you should be wary of exceptionally high leverage percentages.
Confused about using BTC Bank? Allow us to explain.
When a broker offers leverage to invest in Bitcoin, they are effectively giving you a loan. For example, say the broker provides a 1000:1 leverage option. If you invest a minimum deposit of $250, you’ll be loaned $250,000 for Bitcoin investments. Essentially, you are borrowing a large sum of money in a bid to earn a significant profit. However, you need to remember that automatic trading comes with plenty of risks, and it’s a very unreliable way of trading at the best of times. Therefore, when you add in the astronomical leverage, you may prefer to look for alternative investment methods that offer more control over your funds.
What are the spreads on Bitcoin Bank?
Due to the volatility of the BTC market, you can expect the buying and selling price of cryptocurrency to fluctuate every day. That being said, different brokers will offer you different deals, all of which will have varying pip values.
Fees, Limits, and Payment Options on Bitcoin Bank
How much does Bitcoin Bank cost?
Besides offering free trade automation services, BTC Bank has deposit bonuses you can enjoy from time to time. Signing up for an account with it is also free, and there are no subscription charges. You should test it out via its demo account to ensure it aligns with your trading or investment requirements.
|💸 Minimum Deposit:||$250|
|💰 Trading Fees:||Zero|
|💰 Account Fees:||Zero|
|💰 Deposit/Withdrawal Fees:||Zero|
|💰 Software cost:||zero|
|💰 Subscription cost:||Zero|
What are the payment methods accepted by Bitcoin Bank?
There are several alternative payment methods for trading with Bitcoin bank. These include:
Does Bitcoin Bank also charge fees and commissions?
As we have stated in this Bitcoin Bank review, it does not charge any registration fees when you become a user. Also, you will not face any service charges when you place your initial deposit into your account. However, you can expect the platform to take a small commission of any profits you earn through it.
Bitcoin Bank trade sizes and limits
Like many other auto crypto traders, BTC Bank has set a minimum deposit limit of $250 to purchase cryptocurrency. Interestingly, the platform offers zero information on the maximum trading limit. As such, you can assume that you can invest as much as you can feasibly afford. However, as we have said in this Bitcoin Bank review, automatic trading is an unreliable way to invest in Bitcoin and comes with plenty of risks. Therefore, if you are thinking of using an auto trader, we strongly advise keeping to the minimum deposit limit.Start Trading
Bitcoin Bank Platform
How does Bitcoin Bank work?
This is an trading bot system that reportedly utilizes AI technology to invest user funds into the Bitcoin market and hopefully make a profitable return.
BTC Bank claims to use AI bots to find cheap Bitcoin shares. Then the platform will prompt you to invest in those shares, or if you have selected the auto trade setting, it will purchase the shares for you. BTC Bank will then hold these investments and send you a message to make a substantial profit. Sounds easy, right? Well, it also sounds too good to be true. Nevertheless, the platform seems to be an excellent way to make extra money. However, trading bot is undeniably risky and often ineffective, which means you are likely to lose your money rather than earn a profit.
On the Bitcoin Bank website, they suggest that your auto trading investments can have numerous benefits on your life, but we could not find many trustworthy testimonials or reviews that supported these claims. While bots can scour the crypto market much faster than human traders, we would not wholly trust them to help you earn a profit. There is a good chance you will not see a return on your investment given the nature of auto trading.
What devices can I use Bitcoin Bank on?
You can use this platform on any device that can connect to Wi-Fi and access an internet browser. This includes:
Can I Use Bitcoin Bank in My Country?
|Country||Is Bitcoin Bank available?|
|United Arab Emirates||Yes|
Which exchanges and brokers does Bitcoin Bank partner with?
Unfortunately, for this Bitcoin Bank review, we found it difficult to zero in on any concrete information regarding the brokers and exchanges partnered with Bitcoin Bank. That being said, you should remember that high leverage rates are a strong indicator that brokers are probably unregulated and, therefore, less likely to help you earn a profit.
Is Bitcoin Bank available in my language?
BTC Bank is available in numerous languages. Unfortunately, the language will be automatically assigned to you based on your geographical location. You can expect to view Bitcoin Bank in:
Italian and more
How easy is it to use Bitcoin Bank?
Regarding the app itself, BTC Bank is straightforward to navigate. The user interface is relatively minimal and sleek. Account registration is speedy, but that is probably because the company wants you to deposit your funds and get trading. If you are confused by the Bitcoin Bank platform, you can use a demo account to practise making trades without spending any real money.
How much profit can you make using Bitcoin Bank?
BTC Bank automates trades and investments to attempt to maximize your success potential. However, the trading bot doesn't guarantee profits, and it is crucial to take measures to mitigate the risks in the crypto market. If you are new to the market, conduct thorough market research and develop a solid trading strategy that you are comfortable with and that allows you to control your spending. This is so that you can easily follow up on the bot’s performance and take advantage of potentially profitable market trends the robot misses out on.
Remember, the profits you earn with BTC Bank depend on your input. Since the robot has a leverage of 1000:1, you can make more than your invested capital, up to $1,000 daily. That being said, always calculate your potential profits before you begin trading/investing, and consider your tax deductions to the CRA.
Bitcoin Bank Key Features
Bitcoin Bank offers numerous features on the platform to stand out to new users. These include:
Customer Support: In preparation for this review, we found that the customer support side of BTC Bank is very attentive. When you create your account, you’ll be contacted by a representative immediately to finalize your registration. If you miss their call, you can expect them to try your number repeatedly until you complete the sign-up process. You can also contact BTC Bank by e-mail or live chat.
Low Deposit: One of the most advertised Bitcoin Bank features is their low minimum deposit of $250. But, of course, they do not tell you the high leverage options required to afford Bitcoin with such a small deposit.
Demo Account: As we have already stated, Bitcoin Bank allows you to try out a demo version of the app, which has all the features of the live trading crypto experience, but you do not use your funds, eliminating any risk.
Bitcoin Bank Security and Regulation
Is Bitcoin Bank legit?
We found plenty of Bitcoin Bank reviews online during our research, though many of them were obvious fabrications designed to direct traffic towards the site. Also, the high leverage options make you wonder how many BTC Bank partnered brokers are regulated. In our experience, regulated brokers and exchanges do not offer astronomical leverage options.
There have also been some reports that Bitcoin Bank makes it very difficult to withdraw your funds. Details can be found here.
Is Bitcoin Bank safe?
BTC Bank is technically safe in regard to your personal information being protected by SSL encryption. However, due to the issues surrounding the problematic withdrawal process and the large amount of risk involved with leveraged trades, we cannot guarantee that your funds will be safe and that you will make a profit.
Are my money and I protected?
Overall, Bitcoin Bank is highly encrypted and aims to ensure your email and data are protected from hackers.
Is Bitcoin Bank regulated?
This is difficult to say. We found little information regarding regulated exchanges and brokers on the Bitcoin Bank website. However, as we have stated, we recommend that you avoid any broker that offers obscenely high leverage on your deposit, as they will most likely be unregulated. The best crypto trader regulators are the CySec, FCA, ASIC, and FSB. Look for any of these authorities before conducting business with any trader.
Do I have to verify my account with Bitcoin Bank?
Yes, when you create your account, you’ll need to provide documents and verify your identity and address. Then you can use your BTC Bank login.
How Does Bitcoin Bank Work? Trading Strategies and Algorithms
Bitcoin Bank is AI-powered, which uses trading signals and algorithms to monitor the cryptocurrency market and trade on your behalf based on potentially profitable market trends it picks. The robot is designed for high--speed performance; no wonder it gains excellent reviews and testimonials from users. Bitcoin Bank has a claimed win rate of 88%, but like any trading product, it doesn't guarantee successful trades. It does, however, improve its chances of success due to the following features.
Automated Trading Tools
Reactive News Trading
Price Trend Analysis
Extra Information About Bitcoin Bank
Traders and crypto investors can also learn more about cryptocurrency trading from website blogs, podcasts, and YouTube channels. All these resources are free, but you can pay for financial advisors’ services should you require extra guidance.
Tools and Charting
Bitcoin Bank comes with plenty of charts and metrics to show you the Bitcoin market projections. You can also set parameters to narrow your searches to better search for traders and exchanges.
|Bitcoin Bank Customer Support||Details|
|Support email||Not available|
|Support contact number||Not available|
|Live chat option||Yes|
|Other support options||Online Form|
Bitcoin Bank has a demo account to test its features and gauge your skill level before venturing into the live market using real money. The demo account is risk-free, but you must make a minimum deposit of $250 to use it. It is the best platform to get started with, especially if you are entering the crypto space with zero experience.
How to get started with Bitcoin Bank? 3 simple steps
Below you’ll find a list of steps to help you get started with Bitcoin Bank:
Step 1 - Register
Registration is a relatively quick and painless process. Simply input your details, and you’ll be contacted by a representative who will see you through the verification procedure.
Step 2 - Make a Deposit
Once you have created your Bitcoin Bank account, you need to pay a deposit of $250 to trade for Bitcoin. You can deposit more funds if you prefer, though we strongly recommend that you stick to the minimum.
Step 3 - Begin to Live Trade
If you’ve completed the above steps, you are ready to start trading crypto on Bitcoin Bank.
How to delete the Bitcoin Bank account?
As mentioned earlier, Bitcoin Bank is connected to regulated brokers. Therefore, to delete it, go to its menu at the top corner of the page and access the settings command to initiate the process. Alternatively, you can delete your Bitcoin Bank account by deleting your account with the broker. However, you will also lose your data with that broker. Do not start the process of deletion if you are not certain about how you want to go about it. Instead, contact its customer care for guidance.
How to withdraw money from Bitcoin Bank?
Bitcoin Bank does not have a cryptocurrency wallet for storing your assets and earnings. The brokers it is connected with do the storing, meaning that your funds can only be accessed through the brokers. Below is the procedure for withdrawing your money earned from Bitcoin Bank's automated trades and investments.
Visit a Bitcoin Bank’s connected broker’s platform and sign into your trading/investment account.
Go to your wallet, whereby you should click withdraw to start the withdrawal process.
Enter your preferred payment method, whether PayPal or bank.
Enter an amount to withdraw.
Click continue to initiate the withdrawal process, which should take up to 24 hours to complete.
Remember, most cryptocurrency brokers do not accept payouts in crypto assets, and that is why Bitcoin Bank supports various fiat currencies to streamline the withdrawal process. Therefore, choose your preferred fiat currency to successfully withdraw your funds.
Bitcoin Bank Celebrity/Company Endorsements
You have probably come across online reviews claiming that top celebrities or companies endorse Bitcoin Bank. We did our research to verify these claims, and below are our opinions based on our analysis findings.
Is Elon Musk related to Bitcoin Bank?
No. Elon Musk is a Bitcoin investor and the CEO of Tesla and SpaceX. For this reason, many believe he is related to Bitcoin Bank. Based on our research, there is no information proving that Musk endorsed this robot or used it to automate his investments.
Is Jeff Bezos related to Bitcoin Bank?
No. Jeffrey Preston Bezos is a prominent American business mogul and media personality. He is Amazon’s founder and has no interest in cryptocurrency trading and investments. Therefore, all rumours that Bezos is related to Bitcoin Bank should be considered untrue and misleading.
Is Gordon Ramsay related to Bitcoin Bank?
No. Gordon Ramsay is a British celebrity chef and popular television personality. He is interested in cryptocurrency, and there have been rumours to say he is connected to Bitcoin Bank. However, based on our findings, he hasn't endorsed Bitcoin Bank, nor is he related to the robot.
Is Karl Stefanovic related to Bitcoin Bank?
No. Karl Stefanovic is an Australian Nine Network journalist and TV presenter. Throughout his period working with the Nine Network as a co-host, Stefanovic has never endorsed Bitcoin Bank, and as such, despite online claims, we believe he does not use it to trade or invest.
Bitcoin Bank in the News
Bitcoin Bank is also said to be featured on various news channels and TV shows. We reviewed all previous episodes, and below are our findings.
Is This Morning related to Bitcoin Bank?
No. This Morning is a British TV show featuring diverse guests to discuss matters on various topics, including celebrity news, cooking tips, beauty, and lifestyle. We reviewed all episodes aired on this show, and we couldn't find one featuring Bitcoin Bank, making the ongoing rumours false.
Is Dragons' Den related to Bitcoin Bank?
No. Dragons' Den is a TV reality show connecting upcoming entrepreneurs to prominent ones globally for funding and partnerships. So far, the show has aired many episodes, but there is none related to Bitcoin Bank. As of the time of writing, there has been no direct mention of Bitcoin Bank and Dragons' Den; however, we have included it here as this is a show that is often incorrectly associated with cryptocurrency trading robots.
Other Bitcoin Bank Reviews and User Testimonials
We want to ensure that our readers have no doubts about moving forward with Bitcoin Bank. For this reason, we analyzed user reviews and testimonials on Trustpilot and Reddit.
What Are the Top Bitcoin Bank Reviews on Forums and Reddit?
Reddit is one of the platforms where cryptocurrency traders leave their reviews regarding their experiences with trading robots, brokers, or exchanges. From our understanding, many Bitcoin Bank users believe that it is reliable and trustworthy, considering that it is connected with regulated brokers. Also, it is the best for newbies since it is user-friendly and highly encrypted to secure email and data. On top of that, Bitcoin Bank is customizable, attracting all types of crypto traders and crypto investors, whether new or experienced.
What Are the Top Bitcoin Bank Reviews on Trustpilot?
We also visited Trustpilot, and the results are similar to what we got on Reddit. Besides it being user-friendly and customizable, most Bitcoin Bank users think it is affordable since you only need to pay a minimum of $250 to use it. Plus, the robot has a reliable support service working round the clock to help you with any concerns or challenges.
Is There a Bitcoin Bank Alternative?
Yes, there are many more crypto robots available. If you don't want to use Bitcoin Bank, check out some of our other reviews:
|Crypto Robot||Minimum Deposit||Read our review|
|Bitcoin Trader||$250||Read our Bitcoin Trader review|
|Bitcoin Revolution||$250||Read our Bitcoin Revolution review|
|Bitcoin Profit||$250||Read our Bitcoin Profit review|
Conclusions. Bitcoin Bank Review Canada
In conclusion, Bitcoin Bank offers plenty of benefits to new users for a small deposit. However, the fact remains that trading bot is a dangerous game even if you know what you are doing. With potentially huge leverages and even larger financial risk, you may prefer more tried-and-true methods to invest in Bitcoin.