A Comprehensive Review of Bitcoin Profit – Is it Legit?
A Comprehensive Review of Bitcoin Profit – Is it Legit?
Bitcoin Profit claims to be one of the best Bitcoin robots of 2021. The automated software boasts of a win rate of almost 92% and up to $1,500 daily profits from trades according to some of its users and authors. Our Bitcoin Profit review aims to validate the authenticity of these claims. We will evaluate the robot’s performance, reliability, security, markets, brokers, and many more areas in this review. Stay tuned.
What is Bitcoin Profit?
Bitcoin Profit is a cryptocurrency trading robot that works on a highly customizable AI algorithm. Not much is known about the bot’s history since its official website does not say anything about its creators. However, it seems that entrepreneurs in the FinTech industry created the product. The intelligent computer program is equipped with algorithms to enable it to trade Bitcoin better than human beings.
Beginner crypto traders can use the default settings, which opens trades when certain Bitcoin setups. Meanwhile, more experienced traders can customize the parameters to test different strategies.
Bitcoin Profit also supports trading on multiple crypto-crypto trading pairs and is said to be 10x better than the best Wall Street trader. Of course, these claims cannot be completely verified. The automated trading platform claims to guarantee users a high win rate and a success record of more than 90%. Again, to us, this seems quite unrealistic. It monitors signals and trends in the market to determine the most profitable trading approach. Also, when compared to other platforms, it claims to be 0.01 seconds faster. Bitcoin Profit has automated and manual modes as well.
What assets and products can you trade using Bitcoin Profit?
One thing to take note of is that Bitcoin Profit only supports trading with a small number of cryptocurrencies. Thus, if you are looking to build a huge portfolio with diverse cryptocurrencies, it might not be the best option for you. Bitcoin Profit currently supports the following cryptocurrencies:
Bitcoin Profit collaborates with regulated brokers to offer leveraged trading to its users. Since leverage trading uses derivative products, you do not need to own a Bitcoin wallet to store your funds. As such, fiat currency would suffice. Note: Trading with leverage is highly risky and if not done with caution, could lead to huge losses within a short time. Do not attempt leveraged trading unless you have done detailed research.
What are the spreads?
Similar to its leverage options, there is not much information given about the spreads associated with Bitcoin Profit. However, the platform boasts of competitive spreads and promising returns compared to the industry average although these claims cannot be verified.
Fees, limits, and payment options on Bitcoin Profit
How much does Bitcoin Profit cost?
Unlike other robots, Bitcoin Profit does not have any subscription fees or commissions on its use, which means that the system is 100% free to sign up. However, traders need to make a deposit of at least $250 in their accounts before trading.
What are the payment methods accepted by Bitcoin Profit?
To start trading with the Bitcoin Profit system, you need to make an initial deposit of at least $250 using any of the following payment methods:
The website does not charge any transaction or deposit fees from the above methods of payment.
Does Bitcoin Profit also charge fees and commissions?
Bitcoin Profit does not charge any fees or commissions on transactions. However, due to its partnership with brokerages, you might be charged some commission on your profits made from trading.
Bitcoin Profit trade sizes and limits
There are no trade or withdrawal limits on Bitcoin Profit, which means that the platform supports budgets from all types of traders. Trades and withdrawals can take place at any time although it might take up to 24 hours for your withdrawn money to reflect in your account.
Bitcoin Profit’s platform
How does Bitcoin Profit work?
Bitcoin Profit works by collaborating with brokers who carry out the trade orders by the robot through an Application Program Interface (API). Once the robot determines the optimal point of entry or exit for trades, it sends the data to the broker.
Bitcoin Profit claims to have a technical analytical methodology that is able to predict details about the cryptocurrency market. However, this seems to be unrealistic. When there are price changes in the coin, the system alerts its users via email or SMS. It also allows users to create real-time analytical indicators on the dashboard to boost their crypto understanding.
What devices can I use Bitcoin Profit on?
You can use Bitcoin Profit on all devices. The service has a website and can be used on:
Mobile phones – android and iPhone
Desktops and laptops
You can get access to the platform via any web browser as long as you have a strong internet connection and a smartphone. The system has no downloadable native app.
What exchanges and brokers does Bitcoin Profit partner with?
As seen on their website, the platform has established an extensive network with reputable and top brokers in the industry. Some of the biggest of them include EuropeFX and Investous.
Can I use Bitcoin Profit in my country?
Trading in the crypto market has been made easy by Bitcoin Profit. The system does not place any limits on the location of the user. Thus, it has been made available in almost all European countries like Germany, Italy, Spain, Poland, the UK, and other countries such as Australia, New Zealand, Canada, and the U.S. It’s worth checking the rules for your country before you sign up.
Is Bitcoin Profit available in my language?
Bitcoin Profit makes it easy for users to find the information that they need in their preferred languages. The website can be translated into several languages including English, Dutch, Spanish, Italian, etc.
How easy is it to use Bitcoin Profit?
Using Bitcoin Profit is a walk in the park. Since the platform is intuitive, users do not need to have advanced knowledge of fundamental or technical analysis. The system makes it easy to access apps and trading with your account manager should not present any difficulties. However, this is not an indication of what your profits or losses will be as that depends on the market.
When compared to its fellow trading robots, Bitcoin Profit performs better in certain key areas. Its top features include:
Marginal response advantage
Since the price of cryptocurrencies is highly volatile, even a difference of split seconds could prove to be vital when it comes to making profits or losses. From our Bitcoin Profit review, the system has been reportedly built to be 0.01 seconds faster than the live market, which facilitates better opening and closing positions with and ultimately more precision and profitability for traders. It is worth noting however that this claim has not been verified.
Built-in financial tools
Bitcoin Profit has some financial and trading tools incorporated in its system, which allows every type of trader to be comfortable when carrying out their activities. This all-in-one solution ensures that you do not have to leave the software for another tool and this effectively shortens downtime and keeps you focused on trades.
Currently, many other platforms impose fees at different points of contact when using their robots. However, things are different with Bitcoin Profit. There are no registration, deposit, withdrawal, or trade order fees when using the website – the platform effectively eliminates all commissions, fees, and hidden expenses. However, please note that the brokers they deal with may charge you fees.
The platform seems to have an easy-to-use interface that both skilled and unskilled traders can utilize. However, many of the claims made on the website seem too outlandish to be true. As such, we would recommend that you proceed with caution and only invest what you can afford to lose.
Is Bitcoin Profit safe?
According to the website, the company uses high-level encryption that makes it difficult for hackers to gain access. Although, this claim cannot be verified as documentation is not provided.
Are me and my money protected?
The robot does not store your money for you. It only helps you to make informed and accurate decisions on your trades. All trades are established through a broker partnership and it is advisable not to risk more than 10% of your capital on a single trade.
Is Bitcoin Profit regulated?
Bitcoin Profit works with regulated brokers who comply with data protection policies and security protocols in different countries.
Do I have to verify my account with Bitcoin Profit?
Yes, you have to verify your account to enable seamless transactions. The website states that the verification process is straightforward and does not require any cumbersome documentation. With a working email, government-issued ID, and proof of residence, you can start placing trades orders within 30 minutes of receiving your order confirmation.
You will find educational resources on Bitcoin Profit’s extensive network of brokers. You can analyze trades and make better decisions with the resources available.
Tools and charting
It has been reported that there are in-built investment, trading, and financial tools on the Bitcoin Profit network with brokers. This means that users, whether beginners or seasoned experts can gain more insights into real-time trades at any time.
Bitcoin Profit provides excellent customer service according to online reports. Thus, if you have any questions or inquiries, you can direct them to their representatives and you can get answers at any time of the day as their reps are eager to provide any assistance you need.
How to get started with Bitcoin Profit
We discovered that getting started was super easy with Bitcoin Profit. By following the simple steps below, you can start trading right away:
Register or Signup: To become a member of the online trading platform, you need to create an account on the website. You will find a form at the right side of the website where you are required to fill in certain information such as your names, contact number, email address, and country of residence. Once your account has been created, you will be assigned to the partner brokers.
Deposit Funds: The Bitcoin Profit website is free to use but users need to make a minimum deposit of $250 as the capital to start trading with. Once deposited, the amount of money will reflect in your portfolio and you can start placing trade orders with the robot. Bitcoin Profit accepts multiple payment options, including Visa and MasterCard, credit cards, payment providers such as Skrill and Neteller, cryptocurrency wallets, wire transfers, and several other options depending on your area of residence.
Demo Account: We believe that it is always a great idea to test Bitcoin Profit’s software on a demo mode before proceeding to live trade. The demo account allows you to understand how the whole method works before putting in your real money. You can try out different trading strategies to determine what works for you best. Most traders have agreed that they felt better about their trading results after using a demo account.
Trade for Real: You can trade common cryptocurrency pairs with real money on the website. This step is the most important because this is where you instruct the robot on how to carry out the trades according to your plan. Once you have chosen your preferred trading parameters, you must save the changes and return to the dashboard to start trading.
Bitcoin Profit’s claims of generating large sums of money in profits in no time for people seems unlikely to be true. From our Bitcoin Profit review and external sources, we understand that it is only possible to make reasonable amounts of profits when trading with the robot. However, even that is not a guaranteed outcome. Also, it is worth remembering that you can only trade a small number of cryptocurrencies on Bitcoin Profit.
Traders can set up the automated trading software as an efficient tool in their trading strategy. However, it is best to monitor the setup from time to time. We do not advise beginners to make the robot their only source of interaction with the crypto market. Finally, always do your personal research before approving any transaction.