A comprehensive review of Bitcoin Trader – is it legit?
A comprehensive review of Bitcoin Trader – is it legit?
Over the last couple of years, the cryptocurrency market has experienced a massive increase in value with several opportunities to make profits from trades. This has given rise to the emergence of crypto trading robots like Bitcoin Trader. There are several reviews of these crypto trading robots online, but our Bitcoin Trader review aims to be the most comprehensive.
Bitcoin Trader is a popular crypto trading robot that has the potential to help people make profits from automated trades. This review will answer questions related to its legitimacy, safety, markets, assets, and all other transactions within the platform.
What is Bitcoin Trader?
The concept behind Bitcoin Trader is relatively straightforward. As a cryptocurrency trading robot, the system has been designed to make trading easier for you, so you do not have to make trades manually. Bitcoin Trader has a friendly interface that makes buying and selling cryptocurrencies simple.
To make trades, the robot analyzes historical data, patterns, charts, and graphs across the internet to arrive at the best trading strategies. It then carries out the trades through its established network of brokers using various statistical methods.
Gary Roberts founded the platform in 2017. Since then he claims it has generated thousands of dollars in profits for its users. Bitcoin Trader claims it is a split second faster than the live market and can therefore allegedly place trades faster than most of the other robots can. The system claims to be able to generate up to $1,300 of profit from daily trades. However, there are tons of different opinions surrounding this claim. We will take a deeper look into the background of this platform in the subsequent sections.
What assets and products can you trade using Bitcoin Trader?
Bitcoin Trader supports only cryptocurrency trading. Compared to other robots, it offers limited options in terms of trading as it only supports four cryptocurrencies: Bitcoin, Ethereum, Litecoin, and Ripple as tradable assets.
What leverage trading options are there?
Bitcoin Trader collaborates with partners to provide leveraged trading for its users. However, both the robot and the website do not specify the leverage limits, options, or requirements.
Please note that leveraged trading comes with huge risks, so we advise traders to start with small amounts of money before proceeding to bigger trades. Leveraged trading is a double-edged sword – it could lead to larger earnings as well as larger losses.
What are the spreads?
There is no information regarding the spreads with Bitcoin Trader although you are likely to get competitive spreads since it deals with popular brokers
Fees, limits, and payment options on Bitcoin Trader
How much does Bitcoin Trader cost?
Bitcoin Trader is free to use. The software has no subscription fee, although users need to make a minimum deposit of $250 in their Bitcoin Trader accounts to start trading.
What are the payment methods accepted by Bitcoin Trader?
You can make deposits and withdrawals through a number of payment methods on Bitcoin Trader. The available options include:
Does Bitcoin Trader also charge fees and commissions?
The software does not take advantage of traders with hidden fees or charges. There are no commissions or fees on deposits, withdrawals, usage, or download. However, depending on the broker that you are using, you might pay a little out of from your profit made from trades.
Bitcoin Trader trade sizes and limits
Due to its leveraged trading, there are hardly any limits to your trades. Again, we advise users of Bitcoin Trader to trade carefully as there is no guarantee that you are going to make huge profits. You need a minimum of $250 to start trading.
Please note that limits to trading might be placed by the broker in charge of the transactions. There are no time or monetary limits to withdrawals though it might take up to 24 hours for the money to appear in your account.
Bitcoin Trader’s platform
How does Bitcoin Trader work?
Bitcoin Trader works by helping cryptocurrency traders make money through automated trading strategies. The robot enables traders to make automated trades at their convenience. Given how technical analysis on daily trades can be cumbersome, you can carry out multiple trades and complex transactions while making profits passively.
Bitcoin Trader searches and analyzes the market with great accuracy and speed. It analyzes internet data using the latest smart technologies and algorithms. It then relays this researched information to its partner brokers through an API that then executes the trade order. Bitcoin Trader has a self-acclaimed success rate of 96%.
What devices can I use Bitcoin Trader on?
The Bitcoin Trader robot does not have any downloadable native mobile app but you can use the software on the website from an array of devices such as:
Smartphones (Android and iPhone)
Desktops and laptops
Since you can access the platform from virtually any web browser, all you need is a strong internet connection on your device.
What exchanges and brokers does Bitcoin Trader partner with?
Bitcoin Trader collaborates with a number of cryptocurrency brokers who provide leveraged trading. These aren’t specified on the website, although EuropeFX, UFX, and 24option are likely to be among them.
Can I use Bitcoin Trader in my country?
You can access Bitcoin Trader from a large number of countries once you have an account with Bitcoin Trader. Registration is fast and the platform is easy to use. The United Kingdom, Netherland, Spain, Italy, France, Canada, India, Australia, and several other countries. Currently, Bitcoin Trader’s services are not available in the United States.
Is Bitcoin Trader available in my language?
The website can be translated into languages such as English, German, French, Portuguese, and Spanish. Thanks to its wide language coverage, there are almost no language barriers for anyone using Bitcoin Trader.
How easy is it to use Bitcoin Trader?
Bitcoin Trader is a user-friendly program. Thus, all levels of traders should find it easy to navigate the platform and place trade orders.
Traders enjoy using the Bitcoin Trader robot because of some of its key features. Its key features include:
High success rate
Thanks to its consistent profits, users have a higher chance of making profits from trades although the amount is not likely to be as high as the lofty claims of $1,300 daily. As long as you understand the platform and the dynamics of cryptocurrency trading, you might be well poised to benefit from the acclaimed 96% success rate of Bitcoin Trader.
Bitcoin Trader has a user-friendly interface, which makes it great to use for both beginners and experts alike. You can make deposits, withdrawals, and place trade orders without any hassle.
Despite the verification process being simple and quick, the security at Bitcoin Trader is top-notch. Bitcoin Trader is secured by SSL technology, and all the data is encrypted safely into the system. The trader’s data is highly protected and maintained with strict confidentiality. Although, these claims are not backed with documentation of any kind.
From our Bitcoin Trader review, we can say that the robot is a legitimate option for trading cryptocurrency assets. Although you might find some opinions that differ, our assessment shows that it is indeed possible to make profits from the legitimate service.
We recommend trading with caution since the cryptocurrency market is prone to much volatility and price fluctuations. User reviews have also shown people to be making decent profits from the automated platform – further proof that the system seems to be legit.
Is Bitcoin Trader safe?
Many people worry about the safety of their funds and personal data when it comes to using trading platforms. With Bitcoin Trader, you have nothing to worry about because there are security programs and software credentials installed to protect the system against all forms of attacks from viruses, fraudsters, and other areas. Bitcoin Trader is secured by SSL technology, and all the data is encrypted safely into the system. The trader’s data is highly protected and maintained with strict confidentiality.
Are me and my money protected?
Yes, as long as you pay attention to all trades and investments, your money is protected. Trading in the crypto world comes with huge risks and an interplay of factors could determine whether your money is protected or not. Bitcoin Trader is built on an intelligent algorithm to help you make smart trading decisions.
The robot does not store your money for you. It is only involved in the decision making of trades. All trades are conducted through reputable brokers and exchanges, which means your data is protected. If you are a beginner, do not risk more than 10% of your capital for a single trade.
Is Bitcoin Trader regulated?
Bitcoin Trader associates itself with regulated brokers using an API that connects them in real-time. On its own, the software has no central regulations but traders should find out if there are local restrictions or regulations to cryptocurrency trading as this could affect the use of the robot. Remember to carry out this step before making any deposits.
Do I have to verify my account with Bitcoin Trader?
You must first register on Bitcoin Trader by providing your name and email address. After this, you will be prompted to create a password and provide your phone number in the next step. Although you have to verify your account for better security and protection of your assets, the process is easy and only takes a few minutes.
You will discover educational tools and resources on broker websites partnering with Bitcoin Trader. You can use these resources to gain better insights into your trade dynamics.
Tools and charting
Bitcoin Trader using an API to interact with brokers. From the connection, it interacts with brokers to carry out trade orders. Consequently, you can open both short and long positions using the tools and charting available on the platform.
Bitcoin Trader has top-notch customer service. Prior to registration, you would need to fill a contact type form on their website. After your registration, you will have access to their customer service via email and live chat. However, it is unclear if you can access them 24/7 or only during working hours.
How to get started with Bitcoin Trader
You can set up your Bitcoin Trader account in the four simple steps below:
Register: Once you land on the website, you will find a form, where you are to fill in your name and email address. Once you click “next,” it will take you to where you can set a password. Please use a strong password. After clicking “next” again, you will be directed to fill in your country and telephone number. The final process in this step is to click “register now,” to be just a step away from your first trade with the robot.
Create a Demo Account (optional): This step is optional, still, we recommend it to every prospective trader on Bitcoin Trader. Your level of experience does not matter as it is always good to test out the features of any platform like this before starting a live trade. The Demo mode is the same as live trading apart from the point where you have to use your real money. Once you have gotten to a satisfactory level of comfort with the software, you can proceed to the next step and make a deposit.
Make a Deposit: Your live account remains inaccessible until you make a deposit. The minimum deposit is $250, which is quite reasonable. You can make deposits using different methods of payments such as credit cards, third-party payment providers, MasterCard, etc. Rest assured all your sensitive information remains private and safe on the platform.
Start Live Trades: Now, to the main business of the day. You can now click the “live trade” tab to start trading. Remember that the robot does the actual trading for you. You only need to set it to your preferred requirements. You can configure a number of things such as the amount of money that you plan to invest, earn, and leverage.
Compared to other competitor robots in the industry, the Bitcoin Trader software offers a limited number of cryptocurrency trade pairs. Although it has received mostly positive reviews and acclaims due to its high success rate which is estimated to be over 96%, we still deem it necessary to make your trading as safe as possible by doing your research before placing trade orders.
As the website claims, there is a huge potential for substantial profits but it also goes along with a huge risk to your capital. We believe that from our Bitcoin Trader review, you would have found yourself in a better position to make a good decision on your cryptocurrency trades. Once ready, you can start trading with the Bitcoin Trader software now.