What is Bitcoin Era and what can I do with it?
Bitcoin Era is a crypto trading robot that uses statistical algorithms to compare a range of historical and existing data. It then applies it to the existing cryptocurrency market and further automates trading, calculating the optimum entry and exit points to ensure trades have maximum profits.
Additionally, the robot enables manual trading for its users. It allows a user to input trading parameters including the cryptocurrency asset, the amount that a trader wants to invest, stop loss, and trading strategy. Once market conditions move to match the user’s requirements, Bitcoin Era’s robot places the trade.
Is Bitcoin Era legit?
Research from external websites suggests that users have benefitted in different ways by using the robot, so yes Bitcoin Era is a legitimate service.
However, it is good to be aware that the stories on the platform’s website from people claiming to have made a fortune in a very short space of time are very unlikely to be true. In addition to this, the robot has multiple websites under its name that further makes it difficult to verify its authenticity.
The website also claims that It has won awards from the US Trade Association, but we could not find any proof that this is true.
The platform enables users to trade cryptocurrency, but it would be a bad idea to be entirely dependent on the robot. A good strategy of using Bitcoin Era would be to set trading parameters such as stop loss and daily limits as precautionary steps against crypto market volatility.
How does Bitcoin Era work?
It operates by contacting digitally to various cryptocurrency brokers to facilitate trades. The robot first computes optimum points of entry and exit for trade in a particular cryptocurrency asset, and then sends this information to a partnered broker using an API. Upon receiving the trading signal, the broker automatically executes as per the criteria specified by the robot.
Bitcoin Era key questions, answered!
Which broker can I use with Bitcoin Era?
The robot works with a number of regulated CFD brokers, to which it sends trading signals. Examples of brokers this may include are Investous and 24option.
What cryptocurrencies are supported?
The following cryptocurrencies are supported with Bitcoin Era:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Ripple (XRP)
- EOS (EOS)
- Dash (DASH)
- IOTA (MIOTA)
In addition to this, Bitcoin Era also allows trading of bitcoin in BTC/ USD and BTC/ EUR
Can I use Bitcoin Era on mobile and desktop?
Yes. It is available on all desktop OS versions. At present, it does not seem to have a mobile app for trading. However, the website can be used on a mobile browser.
Can I trade assets with leverage?
Yes. All brokers associated with Bitcoin Era are CFD services that offer leveraged trading. But the website fails to mention any specific criteria for the leverage.
However, we would advise you to start small and not trade with high leverage. Cryptocurrency markets are volatile and you could lose money as price movements are very sudden.
Can I open long and short positions?
Yes, a trader can take a long or short position on Bitcoin Era by setting trading parameters. This enables a trader to generate profits even when the markets are going down.
A trader takes a ‘long’ position when they expect that a particular cryptocurrency price will move up. A short position is when the trader bets that the price of the cryptocurrency will move down.
What are the payment methods and withdrawal/deposit limits?
The minimum deposit to fund your account is $250 and the maximum deposit is $15000. The available payment methods for funding your account are credit card, debit card, Neteller, bank transfers, and Mastercard.
The process of withdrawals occurs through the broker’s account. While there are no restrictions on the withdrawal limits, it takes up to 36 hours for the money to reach your account.
Are there any costs and fees involved?
There are no hidden charges, and no commission involved in using Bitcoin Era.
How do I withdraw funds?
You can transfer your profits or trading capital directly to your bank account. To do so, a trader first needs to fill a withdrawal request form. The robot does not levy any commission on profitable trades and hence you receive your whole amount.
It does not pose any limits on your withdrawals and hence payouts can also be accessed on a daily basis. It is worth noting that Bitcoinera does not offer payouts in bitcoin or other cryptocurrencies as it only trades with CFD brokers.
What is the registration and verification process?
The registration process involves a few steps and can be completed within 30 minutes. At this stage, you are required to only fill basic details including your name, email address, and contact number. Once your account is verified, you can start trading or use a practice (demo) account.
Please note that you can only register if partnered brokers offer services in your country. For instance – a trader from India cannot use the services.
Also, while registration on Bitcoinera does not require any ID documents, you will need to provide these if withdrawing money. While withdrawing profits, you will be asked to submit an ID on the broker’s account as the partnered broker complies with the anti-money laundering act.
What is their customer service like?
You have the option to fill a contact form before registration, for any query. Post-registration, the autotrading robot offers 24/7 live chat and call service to its users.
How does it compare against other autotraders?
Bitcoin Era holds up compared to its competitors; Bitcoin Revolution, Bitcoin Profit, and Bitcoin Trader. While they offer very similar services, its the ease of use, cryptos it offers, and safety features make it unique. We suggest taking a look at our list of the best bitcoin robots before signing up for an account.
How to trade with Bitcoin Era
Bitcoin Era has a user-interface through which users can navigate around their account, see their trading history, change their trading parameters, and make trades. The first step users will need to take is setting up an account on Bitcoinera. We’ll take you through what you need to do.
- Step 1: Registration – Sign up and register for your account on the home page of Bitcoin Era. This requires you to add basic information including your name, phone number, e-mail, and setting up a password. A confirmation mail will be sent to you on your mentioned email address. Once you have verified your email address, you can log in to your account.
- Step 2: Finance – You can opt for a practice account, in order to familiarise yourself with the basics of cryptocurrency trading. Alternatively, you can directly go for live-trading. In order to do so, you need to fund your account with a $250 minimum investment.
- Step 3: Trade – The trader can now choose ‘Start AutoTrading’ in order to enable the robot to place trades on their behalf. Even in this case, you do have to specify the settings which include your credit limit, price, and which cryptocurrency you want to trade. Alternatively, you can opt for manual trading wherein you place trades based on your strategies.
Our top robot trading tips for beginners
It’s important to do some research before trading cryptocurrencies. Crypto is a complicated and sometimes volatile market, and even experienced traders should proceed with caution before trusting their funds to a trading robot. Here’s the advice from our team of experts for anyone getting into automated trading:
- Learn about trading before you use a robot. For people who are new to trading, it is important to learn about the details of what it involves – even if using a robot. Through this you can familiarise yourself with strategies like setting limits and stop losses to protect your funds and create a better trading strategy.
- Learn more about cryptocurrency. Cryptocurrency is a complicated asset, and it is important to understand the basics of what you’re trading before signing up to a robot service.
- Start with a demo account. Robot services allow users to start trading on a demo account, giving you the chance to familiarise yourself with the platform without putting any of your hard earned money at risk.
- Build your portfolio gradually over time. The best trading strategies are long term, based around generating continuous growth over a long period of time. Start small with your investments and don’t expose yourself to too much risk.
- Only invest what you can afford to lose. The most important rule when it comes to trading assets of any sort is only to invest what you can afford to lose. There’s no guaranteed trading strategy and there will always be some risk to individual traders, so don’t invest all your money with a trading robot.
Bitcoin Era offers an automated cryptocurrency trading platform with mixed reviews. Some users have benefitted from using the robot, while there are others who have expressed disappointment with its services.
Like many cryptocurrency robots, Bitcoin Era offers trading with only a limited number of cryptocurrencies, and all these trades are done using CFD brokers, meaning all transactions on Bitcoin Era happen in fiat currency rather than in cryptocurrency.
Overall if you’re planning to use Bitcoin Era then the best way to approach it is as a supportive tool in perfecting your trading strategy. By learning more about trading and cryptocurrency, you can set parameters on your account that can help you mitigate risk and deliver higher returns.
As we mentioned throughout this Bitcoin Era review, we would again stress that it is a good idea to do some thorough research before making a decision to trade cryptocurrencies using robot services.