What is Bitcoin Evolution and what can I do with it?
Bitcoin Evolution is a trading software that allows users to benefit from the automatic execution of trades in crypto and forex assets. It uses statistical algorithms and technological solutions to extract potentially profitable trades by analysing historical data, latest trends, chart patterns, etc. Upon analysing the data, the robot automatically opens or closes a trade with one of its partnered brokers without the need for intervention from the trader.
In addition to this, Bitcoin Evolution offers users to manually trade by specifying their preferred criteria on the robot. A trader can set criteria for entry or exit of a trade in a particular crypto asset. The robot monitors the market conditions and executes the predefined trade as soon as the trading conditions match those set by the user.
Is Bitcoin Evolution legit?
Bitcoin Evolution uses algorithms and technology to offer automated trading in cryptocurrency markets, but it does not offer all the benefits as promised by the platform’s website. Our research suggests that while its software is effective in quickly analysing market conditions, it is highly unlikely that its success rate is 98% as asserted on Bitcoin Evolution’s website.
Moreover, Bitcoin Evolution’s site suggests that traders can generate a profit of $1500 daily without any knowledge or understanding of crypto markets. However, these are purely promotional statements and are very hard to believe. Also, the video suggests personalities like Bill Gates associated with the robot, which is totally untrue.
Experienced traders should also research before availing the services of this robot. While it does offer manual trading and backtesting strategies, the cryptocurrency and forex markets also pose a high degree of volatility, and nobody should invest in markets they do not understand.
How does Bitcoin Evolution work?
Bitcoin Evolution partners with regulated brokers that facilitate crypto and/or forex trading. Its software analyses the markets and interprets trading signals to open or close a trade. It passes these signals to the broker platforms using an Application Programming Interface (API). Upon receiving the signal, the broker’s platform will execute the trade automatically.
Bitcoin Evolution key questions, answered
Which brokers can I use with Bitcoin Evolution?
Bitcoin Evolution claims to partner with reputable broker platforms to offer cryptocurrency and forex trading. These brokers are not specified, but our research suggests that these brokers may include EuropeFX and UFX.
What cryptocurrencies are supported on Bitcoin Evolution?
The robot offers trading in prominent crypto-assets including:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Ripple (XRP)
- Monero (XMR)
- Dash (DASH)
- Bitcoin Cash (BCH)
The robot also offers forex trading services. Some of the currency pairs offered on the bot’s platform include:
Can I use Bitcoin Evolution on mobile and desktop?
Yes. Bitcoin Evolution can be accessed on a browser from desktop or laptop using the internet. The autotrading bot also has a mobile app that users can download on iOS and Android devices. However, you may not be able to use the application if the services of the robot are not available in your jurisdiction.
Can I trade assets with leverage?
Yes. The brokers partnered with Bitcoin Evolution engage in leveraged trading in crypto and forex assets. While its official website does not mention the leverage it offers, our research suggests that users can seek leverage up to 1:1000.
It is advisable to take precautions while using leveraged services. Cryptocurrency markets are highly volatile, and even a small difference in prices can result in potentially huge losses due to leverage. Practice in small amounts and be very wary of allowing an automated service to trade with leverage on your behalf.
Can I open long and short positions with Bitcoin Evolution?
Yes. The partner brokers associated with Bitcoin Evolution allow a trader to open both long and short positions. A long position is when a trader bets that the price of an asset will move upwards within the specified duration and a short position is when a trader bets that the price of an asset will move downwards in a specified amount of time.
What are the payment methods and withdrawal/deposit limits?
To enable autotrading in Bitcoin Evolution, you need to make a minimum deposit of $250 with the robot. The available payment methods to deposit include credit/ debit cards, Visa, Mastercard, Skrill, PayPal, Wire transfer, and SEPA transfer.
There are no limits placed on withdrawing your capital or profit. You can withdraw on a daily basis without any restriction on the amount. The withdrawals generally take 24-48 hours to credit in your bank account.
Are there any costs and fees involved?
No. The official cryptocurrency robot’s platform states that there is absolutely no charge or commission levied for opening an account or trading. But, similar to other robots, you will be charged a commission through the broker’s platform for the trades the software makes on your behalf.
How do I get paid? What about payouts?
A trader wishing to withdraw funds will have to initiate a withdrawal from the broker’s account. The withdrawal amount is directly credited into your bank account. You can fill the form from the ‘Withdrawals Request’ tab from the control panel. Please note that you have to submit your identification and bank account details for processing withdrawals. There are no limits in terms of amount or duration placed on the payouts and you can withdraw whenever you want.
What is the registration and verification process?
Registration and verification process is simple and easy. You have to fill the signup form on the right side of the home page of Bitcoin Evolution website. Fill your basic details like name, email address, phone number, and country of residence. A verification link will be sent to your provided email address for you to verify your account.
You can access the cryptocurrency robot’s services once you have completed verification. However, the robot services may not be available in your jurisdiction. In that case, a message of ‘No Available Brokers’ will be prompted while registering.
What is their customer service like?
Bitcoin Evolution offers 24/7 customer service to its registered members. If you are not a member, you can contact them by filling a support form. If you are a member, customer support can be accessed through live chat, phone number, and email.
How to trade with Bitcoin Evolution
Bitcoin Evolution has an intuitive trading dashboard which you can access once your account is active. You can access your trading portfolio from the control panel which also gives you information on all your open trades. From the trading history, you can view all your past transactions and also evaluate your winning trades. The dashboard panel allows you to switch between the demo and live account.
A trader can access the demo platform to understand cryptocurrency trading and also acquaint themselves with the trading interface without having to risk their capital.
Below is a quick run through of how to open an account with Bitcoin Evolution.
- Step 1: Registration – To become a member of Bitcoin Evolution, you have to fill the registration form. You are required to submit your basic details (name, email address, phone number) and verify your account. You will not be required to submit identification documents and verification does not take more than 30 minutes.
- Step 2: Deposit Funds – To engage with autotrading, you have to make a minimum deposit of $250. The robot starts trading on your behalf. Alternatively, you can also switch to the demo account and access various features of the robot to understand how it works.
- Step 3: Trade – A trader can switch on the autotrading option. In this case, the robot starts scanning the markets to find potentially profitable opportunities. Traders can also set the setting of stop loss and maximum daily trades. Experts can access the manual trading option of the robot to define their preferred parameters for their trading strategy.
Our top robot trading tips for beginners
A novice trader must first ensure they understand the schematics of trading in cryptocurrency and forex markets. It is heavily advisable also to complete research on trading before selecting a robot. Here are some of the tips that a trader must consider before starting to trade using Bitcoin Evolution.
- Familiarise yourself with trading. Never invest without understanding the basics of trading. Also, it is necessary to have knowledge of risk mitigation strategies especially with leveraged trading in such volatile markets.
- Understand cryptocurrency space. The cryptocurrency space is relatively new and works a bit differently in comparison to other trading markets. A trader needs to understand the market and how it works.
- Start with a demo account. It is advisable to practice trading with a demo account. Bitcoin Evolution offers this feature and traders should use it to acquaint themselves on how the robot functions.
- Start small and build gradually. Do not overindulge. Start trading in small amounts and gradually build your portfolio. Leveraged trading is risky and even a small difference in prices can lead to huge losses, so it is best to avoid this strategy unless you’re experienced.
- Only invest what you can afford to lose. Cryptocurrency and forex markets carry risk. It is advisable to not invest your hard-earned money which you cannot afford to lose.
Bitcoin Evolution provides autotrading services in forex and cryptocurrency markets, and these can be useful to some investors. However, the bold claims asserted on its platform carry no evidence and are simply too good to be true. Promises of generating $1500 in daily profits have no evidence to back them up and it is unlikely anyone will see this level of a return. Additionally, no celebrity figures are associated with Bitcoin Evolution, despite what the platform claims.
Experts can access the services of Bitcoin Evolution to set manual parameters and hone a reading strategy for the robot to execute. Since cryptocurrency markets run 24/7, experts can use the services of the robot to extract the maximum benefits of their trades by using it in this way.
You should always carry out thorough research – both on trading in general and the forex and cryptocurrency markets – before starting trading. This is even true when it comes to automated trading services. Always remember: invest carefully, start gradually, and only invest what you can afford to lose.