Bitcoin Trader review and test results. Bitcoin Trader was created by Gary Roberts in 2017 to allow traders to automatically trade Bitcoin and five other cryptocurrencies without manually doing the buying and selling of crypto on an exchange or platform, which makes the process faster and super easy. It also increases the success rate and trades crypto with very high accuracy, as well as places multiple orders per given time, hence increasing profitability.
The other thing about a trading bot like Bitcoin Trader is that it uses multiple data points to estimate future prices of crypto at a very high accuracy level and speed, and uses this information to place orders on a broker platform. It stays 0.01 ahead of the market.
The purpose of this Bitcoin Trader review investigates whether the Bitcoin Trader app is a scam or legit.
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Not a scam
Is Bitcoin Trader Scam or Legit?
Based on the information provided on the Bitcoin Trader website, this trading bot can generate a profit of $1300 on the minimum every day. Also, based on Bitcoin Trader Reviews, some customers claim to have made $100,000 in two months using this software. However, such information is to be taken cautiously. The amount of profit earned may depend on the amount invested, market price movements, crypto traded, customer’s trading strategies and knowledge/experience, and duration of trading.
A trader willing to use this bot to trade requires $250 on the minimum to start using it. Traders can deposit money on this platform using credit and debit cards.
- It has a claimed success rate of 88%.
- A review of the registration procedure, robot functionality, and financial trust on this software reveals that it is legit.
- A review of the user Bitcoin Trader reviews reveals that most users have issues with this software and do not trust it. This may be because it is relatively new in the market. Users need to start with a minimum of $250 to start trading and testing the software, as well as become aware of the risks of trading crypto, which sometimes can be very high.
- An assessment of the trading strategies such as Fibonacci, trading time frames and other features reveal that Bitcoin Trader app or bot performs its role of letting users trade cryptocurrencies for profit. It allows actual withdrawals of profit made and provides customer support.
- It works with regulated and trusted brokers to secure customers’ funds. This contradicts many Bitcoin Trader scam claims.
- Sign up now or keep reading our Bitcoin Trader review to know which is our verdict regarding the software.
What is Bitcoin Trader?
Like other crypto trading robots we have reviewed including Bitcoin Future and Bitcoin Era, the Bitcoin Trader app lets users avoid the complicated and lengthy manual crypto trading procedures. It will analyze market data on behalf of the client, place orders automatically on behalf of the client, and return profits.
The analyses of the market data and the placement of orders are all done quickly at a rate no manual trading would beat. Thus, it manages to make profits even at times of high volatility. It uses high-frequency algorithms to trade cryptocurrencies on behalf of the user, and all a user needs to do is to monitor performance. The robot does not always make a profit given the high volatility in crypto markets.
How Bitcoin Trader App works
The first this to note is that this is an automatic bot that is 100% automatic and will do the job of trading once the user registers an account, deposits and toggles the trading button to activate the bot. All a user needs to do is to adjust some settings such as the risk rate, which is the maximum loss that they can allow per trade. The maximum number of trades to be done per day by the bot is also a decision a user should make and direct the bot. The third setting is the number of traders the bot should do per day.
In a more detailed explanation, Bitcoin Trader legit reviews will tell you it does what many other trading bots do, namely to use high-frequency trading strategy to analyze markets and place orders on a broker platform. These orders are executed automatically and within a short time and involve buying, selling or canceling orders as would be required to make a profit.
In other words, it will use complicated computer algorithms coded into it to analyze collected market data (from various sources including news and social media). The result of the analysis of this high volume market data is what is known as technical and fundamental curves that predict future prices of cryptocurrencies. They are also very popular in the trading of stock market assets.
Once it predicts the market price, it will design the orders – namely instructions to buy or sell crypto at a given price now or in the future, based on the insights it has derived from the data. For instance, it may determine based on data that the prices are to increase and so it may place an order to buy now and then sell. However, trading bots trade both ways of the market – when the prices are increasing and when they are falling. They are more complicated than that.
Bitcoin Trader Registration
1. Opening an account with Bitcoin Trader: The registration form on the Bitcoin Trader website requires a user to fill in their name, email, and phone number, and to select a password. This data is filled in three steps after which the customer proceeds to register.
You will also not need any extra information such as ID copies to be verified. Registration takes a minute.
2. Depositing: A deposit minimum of $250 is required to start trading on the platform as many Bitcoin Trader reviews will tell you. Many Bitcoin Trader scam review do advise you correctly to start with this minimal amount and to add progressively or keep plowing back profits. You can deposit with credit and debit cards – Visa, MasterCard, and Maestro. The company website is secured with SSL encryption and so the details on the website are exchanged securely.
3. Demo trading: This is one of the best features of any trading bot or platform because it allows customers to test trading with fake money before they can start live trading with real money they have deposited. Customers can use this feature to test the platform and to gain experience in trading crypto without having to spend any real money. You can test your trading strategies and even deploy them later in trading with real money.
4. Live trading: After depositing $250, it is time to start the bot to trade. Select the currency pair you want the bot to trade and tweak the settings relating to the number of trades, risk, and amount of money per trade, then toggle the live button. Watch performance after every 8 hours. Some of the pairs available for trading include XRP/EUR, BTC/EUR, and BTC/USD.
The bot is free of charge to use: no license fee or commissions or registration fee.
5. Withdrawing: while some robots take days to process withdrawals, this one takes a few hours.
In comparison with other trading bots
In comparison to other trading bots, this one is easy to register on, allows adjusting of trading settings to the customers’ preferences, has gained acceptance from users based on reviews, and it takes less than 24 hours to withdraw money to a customer’s bank account.
What to do to maximize benefits with the app
A customer is advised to start small with a minimum of $250, withdraw their profits now and then instead of leaving it for extended periods within which market may change, follow advice from experts about trading of crypto, and invest what they can afford to lose.
Verdict: Is Bitcoin Trader Scam or Legit?
Claims circulated on Facebook in 2019 that Bitcoin Trader was endorsed by Dragons Den’s investor, Peter Jones, are false. The software is not accessible by US Citizens. These may consider trading crypto CFDs through IQ Option and other crypto derivative platforms that are regulated.
Otherwise, this free-to-use app appears to have negative customer reviews based on many Bitcoin Trader scam reviews but it helps users to trade crypto and make profits. It is super easy and free to use. Thank you for checking our Bitcoin Trader review 2020. For more live tests, please follow our Youtube channel and Facebook page.
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Not a scam