Bitcoin has been one of the most successful cryptocurrency projects to date. Even after the hard recession presently affecting cryptocurrencies, bitcoin still remains to be the best-valued crypto coin around the globe.
Bitcoin was invented to be used as a payment method and as that it has not had a lot of other uses compared to other cryptocurrencies like Ethereum, whose smart contract technology has seen a lot of use in governments, business, and even organizations.
However, Bitcoin is mined and the miners make a lot of money by mining the bitcoin coins. The mining process normally generates new bitcoin coins and also verifies transactions carried out through the Bitcoin Network.
A few years ago, miners had to purchase the latest mining hardware, purchase special mining software and then access a public mining pool and even after getting started, they had to keep on upgrading the system to stay competitive and all that was very expensive to start and maintain. Furthermore, the mining process consumed a lot of power and also time.
Thanks to technology since today there are much easier and cheaper ways of mining bitcoins like by signing up with different mining pools such as the Bitclub Network. By joining a mining pool, you will not have to purchase costly mining hardware or even use a lot of power mining. The network does all the work and you get the rewards.
Is Bitclub legit? Or is it just another scam?
Because of the ostensibly never-ending and ever-growing development of crypto bots, traders, miners, and investors do not always find it easy to differentiate between a scam and genuine bots. Every crypto investor will have his/her own reservation regarding any new crypto bot that they come across.
Although Bitclub has been in operation since 2014, it does not seem to qualify being called a crypto bot. It is more of a mining pool than a crypto bot. So for investors looking for a crypto bot, this is probably not what you are looking for.
Bitclub will of course not do any trade for you according to their description but rather promises to give divides from mining.
How does Bitclub work?
We all know that you can’t walk into a bank ATM to withdraw any cryptocurrency unless you first convert it into a fiat currency that you can withdraw from a bank. Cryptocurrencies are digital currencies and they only assist in virtual form.
To get a cryptocurrency you will have to purchase it over a crypto exchange or mine it; though not all cryptocurrencies can be mined. There are those crypto coins like bitcoins that can be mined. And for others, all coins are already available and you only have to purchase some from an owner via the exchanges.
Bitclub claims it was invented to help in mining bitcoins in a much cheaper and easy way without the need to purchase all those expensive mining hardware and software.
The developers of Bitclub argue that you only buy into a mining pool for $500, $1000 or $2000 or even decide to buy into all the three mining pools together. By buying into this mining pools, you enter into a mining contract with Bitclub and the contract lasts for 1,000 days. During that period, you receive a share of any bitcoin that the network mines.
Want a Bitclub account? Try an alternative!
Bitclub is by all means not a crypto bot. If you want a crypto bot, you should consider opening an account with a verified cryptocurrency trading robot like Bitcoin Code, which is tested and verified.
Below are the steps to opening a Bitcoin Code account and doing automated trading using it:
STEP 1: Registration
The registration process is fairly simple. You are required to fill in your name, provide a valid email address and set the password. You will also be required to give the country you are filling from. It is worth noting that there are some countries that are not allowed.
STEP 2: Open a Demo Account
Once you have your own Bitcoin Code account, you should choose to first open a demo account so as to familiarize with the functionality of the application on false funds other than doing it on real cash.
STEP 3: Open and fund a real trading account
After you are satisfied that Bitcoin Code works according to your specification, you can go ahead and choose a broker among the supported brokers and open a broker with them.
After that, you will be required to fund your account.
There are a variety of options for depositing funds, with the main method being Credit Cards.
Then activate automated trading to so as to give Bitcoin Code the authority to place trades.
Are there any charges?
No. the registration process is free of charge.