What is Bitcoin Bank?
Bitcoin 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 auto trading platform uses trading bots powered by AI technology to make trades with the funds you deposit into your account. This technology scans crypto exchanges and monitors trends in the market to find smart investments.
However, while the cryptocurrency is still in its infancy and the market is still very volatile, Bitcoin Bank encourages you to try auto 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 into the market. However, while the company infers that a Bitcoin investment can be life-changing, the truth is far more complicated — particularly when auto 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.
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|
|📱 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 Bitcoin Bank
Bitcoin Bank Markets, Assets, and Options
What assets and products can you trade using Bitcoin Bank?
As you may have already guessed, Bitcoin Bank primarily lets you trade in Bitcoin, the most popular cryptocurrency in the world. However, you are also allowed to invest in other cryptocurrencies such as Ethereum and BCH.
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 Bitcoin 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 the Bitcoin Bank minimum 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 auto 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 Bitcoin market, you can expect the buying and selling price of cryptocurrency on Bitcoin Bank to fluctuate every day. That being said, different brokers will offer you different deals, all of which will have varying pip values.
Also, you can find out more by taking a look at our following guides:
Fees, Limits, and Payment Options on Bitcoin Bank
How much does Bitcoin Bank cost?
Like most other auto traders, Bitcoin Bank is entirely free if you want to sign up to an account. However, there is also a catch. Once you verify your personal information, you are required to pay a minimum deposit of $250. The bots use this deposit to invest in Bitcoin. You cannot use the platform unless you make this deposit.
What are the payment methods accepted by Bitcoin Bank?
There are several alternative payment methods for trading on Bitcoin Bank. These include:
Does Bitcoin Bank also charge fees and commissions?
As we have stated, Bitcoin Bank does not charge any registration fees when you become a user. Also, you will not face any service charges when you place your deposit into your account. However, you can expect the platform to take a small commission of your profits - if you are lucky enough to make any.
Bitcoin Bank trade sizes and limits
Like many other auto traders, Bitcoin Bank has set a minimum investment 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, auto 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 limit.Start Trading
Bitcoin Bank Platform
How does Bitcoin Bank work?
Bitcoin Bank is an auto trading system that utilizes AI technology to invest user funds into the Bitcoin market and hopefully make a profitable return.
Bitcoin Bank uses 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. Bitcoin 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, auto trading is undeniably risky and often ineffective, which means you are likely to lose your money rather than earn a profit.
On their website, Bitcoin Bank suggests 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 the AI bots can scour the 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 Bitcoin Bank on any device that can connect to wifi and access an internet browser. This includes:
Which exchanges and brokers does Bitcoin Bank partner with?
Unfortunately, we found it difficult to find 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.
Can I use Bitcoin Bank in my country?
You can use Bitcoin Bank in any country where trading Bitcoin is legal. These countries include:
Is Bitcoin Bank available in my language?
Bitcoin 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, Bitcoin 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 practice making trades without spending any real money.
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 Bitcoin 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 Bitcoin 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 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 Bitcoin 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?
Bitcoin Bank is technically safe in regards 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 me and my money protected with Bitcoin Bank?
When you sign up to Bitcoin Bank, you should know that your funds are not held on the auto trading platform. Instead, the partnered brokers will be responsible for your money. However, it may not be obvious which brokers are regulated. Therefore, if an exchange offers a high leverage option, you may not want to purchase Bitcoin through them, as they are most likely unregulated.
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 Bitcoin Bank account, you’ll need to provide documents and verify your identity and address. Then you can use your Bitcoin Bank login.
Extra Information About Bitcoin Bank
Bitcoin Bank has numerous resources available to teach you about Bitcoin trading and how to use their system. They offer a demo and video tutorial plus some FAQ sections.
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 has a customer support service that can be reached via e-mail or live chat.
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 - Registration
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 on Bitcoin Bank.
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
In conclusion, Bitcoin Bank offers plenty of benefits to new users for a small deposit. However, the fact remains that auto trading 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.