Bitcoin Trader review
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Our crypto experts have tested and reviewed many of the leading robots available and on this page, we investigate Bitcoin Trader. Read on to learn more about what the trading software can do, explore its key features, and decide if it’s legit or a scam.
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Pros & Cons
What is Bitcoin Trader?
Bitcoin Trader is a robot that uses algorithms to place and execute cryptocurrency trades automatically after users open accounts and invest funds. The platform’s website makes various claims about the size of the profits that can be made by using the software, although these claims cannot be verified.
Bitcoin Trader analyses a vast amount of data using technology and statistical algorithms to figure out the best trading opportunities in the cryptocurrency market. It then uses this information to place trades with established brokers 24/7.
It connects to its partnered brokers through an API that works in real time. The robot continuously sends and receives data back and forth through this API, to place trades and assess its performance.
Bitcoin Trader summary
|Supported cryptocurrencies||BTC, ETH, LTC, XRP, DASH|
|Withdrawal speed||24 hours|
|Customer support||Live chat, phone, email|
|Regulation||CySEC regulated brokers|
About the Bitcoin Trader platform
How does Bitcoin Trader work?
Bitcoin Trader is an auto trading robot that uses algorithms to maximise trading potential in Bitcoin and other cryptocurrencies. It enables buying, selling, and trading Bitcoin without human intervention.
To make trades, it analyses historical data, charts, patterns and graphs sourced from across the internet to derive the best trading strategies. It then executes trades with brokers based on the information it gets from statistical and progression methods.
The Bitcoin Trader app claims that its algorithm can operate 0.01 seconds ahead of the market by doing this. It can then leverage this market advantage by acting within microseconds. This is a big claim to make, however, and it’s worth noting that it’s wise to set some parameters on how the robot operates to ensure you’re protected against volatility in cryptocurrency markets.
The automated trading software also allows experienced traders to use the platform for manual trading. Since cryptocurrency markets run 24/7, a trader can ensure to be active at all times by setting predetermined parameters to enter and exit a particular trade by telling the Bitcoin Trader robot what price to buy and sell. It will automatically execute the trade upon the set criteria without the need for intervention from the trader.
What assets and products can be traded on Bitcoin Trader?
The Bitcoin Trader software works with the whole of the crypto market. The following selected cryptocurrencies are supported with the robot:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Litecoin (LTC)
In addition to this, it also offers to trade multiple cryptocurrency trading pairs and fiat currencies, including XRP/EUR, BTC/EUR, BTC/USD.
How much does Bitcoin Trader cost to use?
Bitcoin Trader claims to not charge any fees or commissions. You can also register an account with the software for free. However, to use it you are required to sign up with one of its partner brokers. When using the Bitcoin Trader platform with a broker, you will need to pay commissions on each trade it makes, this usually ranges between 1% and 2%.
What are the payment methods accepted by Bitcoin Trader?
To fund your account and begin trading, you must make an initial deposit of $250 with the automated trading bot. The available payment options include Maestro, Mastercard, and Visa. You can also use payment apps such as PayPal. Here’s a full list of available payment methods for Bitcoin Trader.
- Credit card
- Debit card
- Bank transfer
Is there a Bitcoin Trader app for both mobile and laptop computers?
Yes, Bitcoin Trader is accessible on all desktop and mobile operating systems. You don’t need to download any software or an application, so as long as you have a browser and an internet connection, you can access Bitcoin Trader.
Bitcoin Trader also has a mobile app which you can download on any iOS or Android device. The Bitcoin Trader app makes it easy to trade while on the go. The mobile app shares many of the same features available on the web version.
Bitcoin Trader key features
Here are some of the key features that our experts found particularly useful and unique compared to other trading platforms.
Bitcoin trader has been designed for both beginners and experienced crypto traders. Its interface is simple to use and adjusting the robot’s parameters is a quick process. You can sign up with the platform in just a few minutes and any changes you make take place immediately.
Dedicated personal account manager
When you sign up with Bitcoin Trader, you’ll be assigned a dedicated account manager who is on hand to help you set up your trading account. Your account manager can also help you make changes to your robot’s settings and is available via email or live chat.
Free Bitcoin Trader demo account
Before using crypto trading platforms like Bitcoin Trader, practice on a demo account is recommended. With Bitcoin Trader, you can access its free demo account without depositing any money. This is an excellent way to practice and get to grips with the bot.
Trader other markets
One of the best features of Bitcoin Trader is that it can be used across several financial markets. While its name may suggest it only works on the Bitcoin market, our experts discovered it can be applied to forex trading, stock trading, and the wider cryptocurrency market.
Which brokers can I use with Bitcoin Trader?
Bitcoin Trader works with several brokers that offer leveraged trading in cryptocurrencies. These aren’t listed explicitly on its site but likely include EuropeFX, UFX, and 24option.
Can I trade assets with leverage?
Yes. It allows leveraged trading through the brokers with which it is partnered. Neither the robot nor the website gives details of the leverage criteria, however.
Please note that trading with leverage is highly risky and should not be attempted by beginner traders. While leverage can lead to bigger profits, it also generates bigger losses. It can lead to your capital being wiped out quickly if the market fluctuates – which is common with cryptocurrency. Always start small so that your losses are minimal.
Can I open long and short positions with Bitcoin Trader?
Yes, you can open long and short positions with Bitcoin Trader. A trader can manually enter a specific position/trade that he wants to execute and the robot will automatically carry it out.
If you’re unfamiliar with the terms, check out our position trading course. But in short, a long trading position is when a person believes the price of something will rise, and a short position is when they believe it will fall.
How do I get paid? What about payouts?
To withdraw your funds, you need to fill out a withdrawal form. Please note that at this point, you will also be asked to submit your identification documents as this is part of necessary Know Your Customer checks.
All your profits and trading capital can be withdrawn directly to your bank account and you can request payouts daily. According to the website, Bitcoin Trader doesn’t charge any fees for this process.
What is Bitcoin Trader’s customer service like?
Before registration, you can contact Bitcoin Trader by filling out a contact type form available on their website. After successfully registering on its website, you can access their customer service via email and live chat. Here is a list of all available customer service methods on Bitcoin Trader.
- Live chat
- Online contact form
Safety and security
Is Bitcoin Trader safe to use?
Our investigation into Bitcoin Trader revealed the trading robot is safe to use. It uses various advanced features such as SSL authentication, anti-virus, and anti-phishing measures to keep users safe. The automated software also partners with well-known brokers using advanced technology to protect users.
Is Bitcoin Trader regulated?
The Bitcoin Trader platform is not regulated. However, the brokers it is partnered with all are. CySEC is the regulatory body that provides licences to Bitcoin Trader’s partner brokers. CySEC is one of Europe’s largest and best-known regulators and offers protection to clients depending on location.
Is my money protected on Bitcoin Trader?
When you use The Bitcoin Trader software, you do not need to deposit any funds with the platform. Rather, you deposit funds with one of its partner brokers, and as just mentioned in the section above, they are all regulated by CySEC. With regulation comes some degree of protection through compensation schemes that many brokers are a part of.
Who owns Bitcoin Trader?
The official Bitcoin trader website lacks any information about the owners and creators of the cryptocurrency robot. Many rumours online have surfaced claiming Bitcoin Trader is owned by a well-known celebrity. However, there has been little evidence to support this.
During our investigation into Bitcoin Trader, our experts discovered the platform is owned by a team of cryptocurrency traders and software developers with many years of experience. It is common practice for developers of trading robots to remain anonymous, especially in the crypto space, where privacy is an important factor.
What is the registration and verification process?
Registering on Bitcoin Trader requires you to provide your name and email address. In the next step, you will be asked to set a password and provide your contact number. You do not need to provide any personal identification documentation in this step. Once you have registered, verification usually takes a few minutes.
How to start trading with Bitcoin Trader
Step 1. Create an account with Bitcoin Trader
Before you can start using the robot, you will need to create an account on The Bitcoin Trader’s official website. This quick and easy process will only take a few minutes. You will need to provide your basic contact information, including your email address.
Step 2. Make a minimum deposit of $250
To start trading, you will need to deposit $250 or more. You don’t need to deposit directly with the Bitcoin Trader app but will need to create an account with one of its partner brokers. Once your brokerage account is open, select your preferred payment method and deposit funds.
Step 3. Set up your Bitcoin Trader trading system
Once you have your accounts up and running, it’s time to set up your Bitcoin Trader system. As we mentioned earlier, Bitcoin Trader is very user-friendly and adjusting settings is a simple task. You can choose what the bot will trade and how often it will buy and sell.
Step 4. Adjust risk management settings
To make sure you don’t lose too much money, it’s recommended you adjust the risk management settings for the robot. If you want to gamble, you can set it high, although it’s best to start slowly and build as you go along. This is important, especially in the crypto market where wild price swings occur frequently.
Step 5. Start investing with Bitcoin Trader
If you have switched on autotrading, the Bitcoin Trader robot will go ahead and start to find potential trades for you and execute them from the broker’s platform. Alternatively, you can also opt for manual trading and specify the conditions for opening or closing a trade yourself.
Has Bitcoin Trader been recommended by celebrities or appeared on TV?
Many online platforms have claimed that high-profile celebrities have used Bitcoin Trader or that the platform has been talked about on popular television shows. Invezz has researched these claims and can find no evidence that they are true. If you read about different celebs promoting this robot, you should be wary of the platform which has published that information.
Our team has researched three of the most commonly-cited claims linking the platform to celebrities, with the results of our investigations below.
Is it true that Bear Grylls endorsed Bitcoin Trader?
No, it is incorrect that Bear Grylls has recommended people to use Bitcoin Trader. Bear Grylls (real name Edward Michael Grylls) is best-known for presenting television shows in the UK around the theme of survival. He uses his former experience as a serviceman in the SAS to give tips on how to survive in extreme situations.
Fact check: False. When examining these claims, we found no evidence that Bear Grylls has ever been associated with this platform.
Does Cillian Murphy use the Bitcoin Trader website?
Despite some online stories claiming this to be true, it is false that Cillian Murphy uses this platform. Cillian Murphy is an Irish actor and musician most famous for his appearances in Batman Begins, 28 Days Later, and the British TV show Peaky Blinders.
Fact check: False. Any claim that Cillian Murphy uses this crypto robot are false.
Has Karl Stefanovic publicly recommended the platform?
We found no evidence that Karl Stefanovic has spoken publicly about the Bitcoin Trader Website. Karl Stefanovic is a presenter on Australian television and best known as the co-host of the breakfast show Today, aired by Nine Network.
Fact check: False. Karl Stefanovic has no association with Bitcoin Trader.
Is there a Bitcoin Trader alternative?
If Bitcoin Trader does not convince you, there are a range of different Bitcoin robots you can try. Below we’ve provided 5 of the best crypto trading robots, just click on any of the links to go to their full review.
- Immediate Edge is a crypto trading bot that offers automated crypto trading, signals, and trade ideas for forex and other financial assets.
- Bitcoin Motion is a good option if you want a robot that trades the Bitcoin market. It also can be used in the wider crypto space.
- BitIQ uses advanced technology and AI software to buy and sell a wide range of cryptocurrencies. It’s also one of the top-rated crypto trading software around.
- Bit Index AI is programmed to use artificial intelligence to identify trading opportunities in the crypto market.
- Oil profit takes a different approach and focuses on the commodities market, especially the movements in the price of oil
Our top robot trading tips for beginners
When using a robot to trade cryptocurrencies, there’s a lot that you need to be aware of. It may just feel like you deposit funds and let the robot do the rest, but our team of experts have come up with the following advice that it’s important to read before getting started:
- Familiarise yourself with trading. Trading cryptocurrencies is a complex process, and it’s important to grasp the basics before you get involved. By learning about trading in general, you will be better able to set up the trading robot to work most effectively.
- Understand cryptocurrency space. Having more knowledge of the asset you are trading is important when making any trade, but especially so in such a wide-ranging environment as cryptocurrency.
- Practice with a demo account. Even though you can start live trading immediately upon setting up an account on a robot, we strongly advise you to trade on the demo account first. This will help you familiarise yourself with the platform before risking any of your capital.
- Start small and build gradually. The best strategy is to start with a small amount of money and grow your portfolio and profits over time. This will help you hone your trading skills and keep risk to a minimum.
- Only invest what you can afford to lose. This is a central tenet of trading, it’s always important to be financially responsible when investing in anything. Markets can be volatile and losses can come as easy as profits, so don’t risk money you couldn’t live without.
Our final verdict on Bitcoin Trader
Bitcoin Trader’s automated trading robot offers a good number of cryptocurrencies that can be traded when compared to some of its competitors, and while there are positive reviews of the platform, it is highly likely that the sensational stories of people earning fortunes in record time using the software are not true.
Beginner traders should be cautious and learn about cryptocurrency trading before trusting their money with a trading robot. The use of Bitcoin Trader is more appropriate for traders who are familiar with cryptocurrency markets and can use it as a tool to fine-tune their trading strategies and programme it to enact trades when they cannot do so.
Always be careful when investing in the cryptocurrency market and do as much research as possible before starting to trade. It is possible to make good profits, but like any investment opportunity, it comes at a risk to your capital and your chances of success are likely to be higher if you arm yourself with the requisite knowledge.
Methodology: how we scored this Bitcoin Trader review
Every cryptocurrency trading robot review on our website follows the same rules when evaluating the platform. In the case of this Bitcoin Trader review, we first created a free account and made an initial deposit of $250. We then connected our Bitcoin Trader account to its recommended trading platform before adjusting some settings and letting it trade.
We combined our research and analysis with online reviews from trading software users during our review. We then scored the trading platform based on our findings and other users’ reviews.
The final ranking is recorded as a score out of five stars. No platform can influence the score, but we may be paid a fee if you use one of the links on this page to sign up with a partner service. Learn more about how we make money and our review process.
Bitcoin Trader does offer automated robot trading services, but its exaggerated claims of generating millions in profits are dubious. The robot enables users to have cryptocurrency trades placed for them without the need for human intervention. Additionally, it also allows a trader to place manual trades based on customisable parameters. But it is important to note that the claims of notable celebrities having endorsed Bitcoin Trader are untrue.
Yes, the process of registering and verifying an account on Bitcoin Trader is quick and easy. First, a user needs to provide their name and email address, you will then need to submit your contact number. The process for verification might take around 30 minutes, but after that you’re good to go. Currently, the robot is not available in all countries, and you will see an error message displayed if you’re unable to access the robot’s services for this reason.
No. While you can trade in Bitcoin, Ethereum, Ripple, and Litecoin, withdrawals are paid out in the form of fiat currency. Withdrawals are carried out from the broker’s platform that are partnered with Bitcoin Trader, and as these platforms trade cryptocurrency using CFDs, no cryptocurrency coins are involved.
Bitcoin Trader does enable users to participate in automatic trading, but it also indulges in misleading marketing practices. The robot claims to have won trading awards but there is a lack of proper attestation to its statements, and reports of user making thousands of dollars overnight are unverifiable.
In terms of placing trades automatically through its robot yes, but its assertion of members generating $1300 in profits are not proven and are very unlikely to be true. The robot analyses data using algorithms in order to derive outcomes of a trade and further places the trade on behalf of the user. Overall the robot works, but maybe not as efficiently as Bitcoin Trader claims it does.
According to the Bitcoin Trader official website, there are no fees for accessing services of the robot. However, a user might incur fees as a percentage of the trade that goes towards a broker’s platform.
Deleting your account on Bitcoin Trader involves two steps: contacting the partnered broker and then closing your account with the robot. You first need to withdraw your funds from the broker’s account, and after this you can submit a request to delete your account.
Our editors fact-check all content to ensure compliance with our strict editorial policy. The information in this article is supported by the following reliable sources.
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