A Comprehensive Review of Bitcoin Up – Is It Legit?
A Comprehensive Review of Bitcoin Up – Is It Legit?
Bitcoin Up is a trading robot that claims to execute trades in the crypto market automatically using an algorithm. According to the official website, Bitcoin Up has been in existence for about 5 years, although this statement has not been verified.
Our comprehensive Bitcoin Up review analyzes the platform’s overall performance and legitimacy. We will explore its assets, market, partner brokers, security, fees, and many other aspects of the robot.
What is Bitcoin Up?
Bitcoin Up is a robot designed to perform automated cryptocurrency trades. The system claims to have a success rate of 99.4%, which is suspicious considering the volatility of the market. The platform allegedly uses special algorithms with Artificial Intelligence and Natural Language Processing to analyse huge amounts of data.
The data processed includes market conditions, historical data, patterns, and trends, and this is done to determine the best entry and exit points for a trade. Trades can also be set to manual in order to have more control over the assets to trade, stop loss, and other limits. Once the favourable market conditions are met, the robot executes the trade via a standard broker’s platform.
What assets and products can you trade using Bitcoin Up?
On Bitcoin Up, a trader can trade a limited number of prominent crypto assets. The only available list includes Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC).
What leverage trading options are there?
Although the website does not mention the leverage limits, Bitcoin Up offers its users trading leverage of 1:1000 – an average range for most other robots. Thus, a trader can trade up to 1000 times the amount deposited, which could lead to 1000 times more profit. But of course, this comes with much higher risk as well.
Trading with higher leverage is extremely risky, particularly in crypto markets because of the volatility in prices. We do not recommend trading with leverage for inexperienced traders because they could lose all their capital if the trade is not favourable.
There is not any information about the spreads with Bitcoin Up.
Fees, limits, and payment options on Bitcoin Up
How much does Bitcoin Up cost?
Bitcoin Up is totally free to use. Users do not need to pay any subscription fee. The platform does not charge any fees on deposits. However, to start live trading, you need to deposit a minimum of $250 in your account. Rest assured that this money will still be available for trade. Partner brokers may charge little commissions on profits made from trading.
What are the payment methods accepted by Bitcoin Up?
To use Bitcoin Up, a trader needs to make a minimum deposit of $250 into their account. The available methods for depositing funds include:
Debit/ credit cards
e-wallets such as Skrill and Neteller.
To initiate a withdrawal, you need to submit a request after which the amount will be credited to your bank account within 24-48 hours. You must have a valid government-issued ID to withdraw your funds.
No. According to its official website, there are no hidden fees, registration, trading, or brokerage fees when using the system. However, you should bear in mind that the broker might charge you a little commission when you are initiating withdrawals.
Bitcoin Up trade sizes and limits
There is no limit to the number of trades you can make on Bitcoin Up. Although the minimum deposit requirement is $250, the system offers a number of trade sizes depending on the brokers. There are no withdrawal limits or restrictions over the withdrawal time.
Bitcoin Up’s platform
How does Bitcoin Up work?
Bitcoin Up has established an extensive network with various brokers across multiple jurisdictions. It uses an API to place trades with the brokers, having analysed the market through a variety of technological and analytical tools.
The system scans the full cryptocurrency market in order to produce precise predictions under the current market conditions. Trade processes could be automatic or manually driven. The platform is also backed up by strong security, which helps to protect users’ data.
What devices can I use Bitcoin Up on?
Bitcoin Up does not have a native mobile application. However, you can access the website from a variety of devices including: mobile phones, tablets, and desktop and laptop computers.
The platform does not need any download or installation. You can simply access via your web browser on the devices listed above. Traders need a strong internet connection and a functional device for a smooth experience.
What exchanges and brokers does Bitcoin Up partner with?
Bitcoin Up has partnered with regulated brokers who offer crypto CFD trading instruments. EuropeFX and 24Option are two of the most prominent brokers with which the robot works.
Can I use Bitcoin Up in my country?
Bitcoin Up can be used across several countries worldwide. Countries where you can access the platform and all its features include Brazil, Uruguay, Italy, Ireland, Canada, the US, the UK, Australia, India, and several other countries. Confirm if there are any restrictions or limitations in your country or state of residence prior to using Bitcoin Up.
Is Bitcoin Up available in my language?
The website has a wide language coverage including common languages like English, Spanish, Portuguese, Italian, and French. Traders can translate the website to their preferred language without any problems.
How easy is it to use Bitcoin Up?
This trading platform is designed to meet the increasing trade needs of traders at all levels. It offers a user-friendly interface that works in both autopilot and manual modes, so you can customize your trades or follow the default settings.
Bitcoin Up is simple to use, and you can make profitable trades even as a first-timer. However, make sure that you manage your risks at a level that you are comfortable with. High leverage trading should only be attempted by experienced traders.
Bitcoin Up has certain key features that distinguish it from other platforms. Some of its biggest features include:
Amazing customer support
Bitcoin Up has super fast customer support. Their customer representatives do well to reach out to people quickly.Once you register your account, a representative reaches out to guide you on the remaining steps. You can contact them via email or over the phone.
Comprehensive verification system
Once new members register their accounts, they are required to submit their email addresses, which would be used to verify their identification. Once you click the “Register Now” button, a customer rep from the Bitcoin Up team will contact you straight away to confirm your registration. The rep will confirm your status as a new user and attend to any questions that you might have during the phone conversation.
Bitcoin Up accepts transactions done with MasterCard and VISA debit/credit cards and bank transfers. Withdrawals with Bitcoin Up are smooth and easy – with only two clicks, you can initiate a withdrawal, although it might take a little while for the payment to reflect in your account depending on the withdrawal method you choose.
Our advice is to exercise caution when trading and to develop trade tactics, as there is still some market risk. However, Bitcoin Up appears legit.
Is Bitcoin Up safe?
McAfee and BitGo are among the cybersecurity providers picked to provide services for the robot. This means that during the transaction process, user data and transactions are encrypted and protected as promised on the platform.
Is my money protected? Am I protected?
Yes. Traders have their money safe at the Bitcoin Up platform although the robot does not store your money for you. Trades are placed with reputable exchanges as partners and Bitcoin Up only helps you to make profits on your trades. We recommend that you do not use more than 10% of your capital for each trade except you are a seasoned trader.
Is Bitcoin Up regulated?
By itself, Bitcoin Up does not have any central regulations. However, it might be affected by cryptocurrency regulations in one’s country since it collaborates with regulated exchanges and brokers. Always confirm if any restrictions apply in your area.Trading cryptocurrencies is very much speculative, there are weighty risks involved, and you should not rely solely on the app for trading.
Do I have to verify my account with Bitcoin Up?
New members must create accounts on Bitcoin Up by giving basic information such as their full name and phone number. In addition, they need to provide a valid email address, which will be reviewed by the team to confirm their identity.
Following your click on the “Register Now” button, a staff of the Bitcoin Up team will call you to confirm your membership. The rep will check on the new user’s status and answer any questions that might have popped up during the phone discussion.
You can get free educational resources on Bitcoin Up partners’ websites. Traders can access the free analysis tools to understand and monitor trades better.
Tools and charting
Bitcoin Up sends information on trades to brokers through an API. The system uses a variety of tools and charts to arrive at trade decisions.
Bitcoin Up has 24/7 customer help to assist users with any issues navigating the system. You can do this through their customer form, live chat option, and email. From our Bitcoin Up review, it has highly responsive and professional customer support.
How to get started with Bitcoin Up
Registration: Users need to register on the platform to start using the robot. All you need to do is fill the registration form on the home page. Content on the form includes your name, email address, and contact number. The whole process is simple and free. You are required to verify your account details when Bitcoin Up links you to a regulated broker. Thus, you would need to upload a scanned copy of your government-issued ID along with your evidence of residency. Failure to provide proof of identity will prevent you from withdrawing any money.
Make a Deposit: After registration, you would be required to deposit a minimum of $250 to start trading with the system. Deposits are made via the broker’s platform, which is a regulated and safe space for crypto transactions. These brokers have put in safety measures such as insurance and segregated client accounts. Traders can make deposits through a variety of payment methods such as credit/debit cards, wire transfers, e-wallets such as Skrill, Neteller, and cryptocurrency wallets.
Try Demo: This step is optional but is usually recommended for traders to explore the Bitcoin Up system and get familiar with the interface. Trying a demo account involves using fictitious money to experiment with trades before proceeding to real-time or live trades. Here, the broker also provides you with enough training materials and resources such as video guides, live webinars, and lessons to make you understand the platform better.
Trade for Real: At this point, you would have started trading Bitcoin for real. Before starting a live trading session, you can adjust the trading and risk parameters to a suitable level on the software. This should only take a few minutes. Also, you can trade manually or allow the software to carry out automatic trades on your behalf. At this point, the program will also conduct market analysis and send signals to execute the trade on your behalf.
Overall, our Bitcoin Up review shows that the robot is a legitimate and secure platform for automated trades by both rookies and expert traders. While a trading robot’s services can be used as part of a trading strategy, a trader should not become completely reliant on the robot’s skills. It is advisable to always use an amount of money you are comfortable with and do your own research before opening trades
Furthermore, claims of users making more than $1200 per day in profits are a serious cause for concern as any legitimate trader knows profits are not guaranteed, and not something that can be easily replicated. We can also confirm that there are no prominent celebrities associated with the platform and this is merely an attempt to entice unwitting users. Consider your options today.