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The cryptocurrency wave has transformed into a real opportunity that people can leverage to earn a comfortable income. But this also means competition for profitable trades is rife. As such, traders are constantly looking for ways and means to increase their competitive advantage.
One of the means by which traders are gaining an upper hand in the market is by exploiting trading software that automates much of their activities. Bitcoin Loophole is one of these pieces of software whose popularity is rapidly growing.
In this review, we will address the legitimacy of Bitcoin Loophole and any other concerns or questions that you may have.
Table of Contents
What is Bitcoin Loophole?
Bitcoin Loophole is reported to be an easy to use automated trading system that aims to increase the chances of success for anyone wishing to trade cryptocurrency. The system is said to incorporate the latest and most sophisticated machine learning along with natural language processing techniques for the gathering and analysing market data. Similarly, the BTC Loophole app is said to be designed to allow both manual and automated trading. The bot's main claim is that it demonstrates its effectiveness quite quickly once you begin using it. Reviews and testimonials suggest that the bot can help generate stable earnings, regardless of the trader's level of experience.
According to these, users only need to enter desired parameters and the algorithm will do the leg work. The trading platform is simplified in that users can manipulate how it works by simply pointing and clicking.
Who’s Behind Bitcoin Loophole?
Bitcoin Loophole is reportedly a product of Steve McKay, who is a renowned investor in the cryptocurrency ecosystem. It is claimed online that McKay is also associated with similar trading platforms including Bitcoin Code and Bitcoin Trader. Other than investing, McKay has a history as a professional trader and a software developer.
To demonstrate the potential of Bitcoin Loophole, various renowned brokers drawn from every corner of the world have the bot integrated into their trading platforms. The trading system is especially popular among professional traders who would rather rely on the services of regulated brokers.
How to Use Bitcoin Loophole
1. Getting Started with Bitcoin Loophole
Bitcoin Loophole makes it easy for you to begin using the system. First, you create a Bitcoin Loophole account by inputting your details. The system only asks for your full names and valid contact details, and the registration process is complete. Once your details are verified, you will be redirected to the most appropriate affiliated broker to complete setting up your account. The software pairs you with a broker that is closer to you geographically to ensure that you get the best service in case of need for support. Before you can fund your account, a representative of the affiliated broker will call you as well as communicate via email to verify the details you provided.
2. Fund Your Account
The broker to which we were paired accepts deposits via six different payment providers including VISA, DusuPay, Skrill, and Neteller. For those who prefer using Bitcoin, the broker may possibly accept the leading digital currency as well. The minimum deposit you can make before starting to trade is $250. For those using debit and credit cards, the maximum deposit is $2,000 but users of any other payment method can deposit up to $30,000. If you are a beginner, we would recommend that you do not exceed the minimum deposit amount at this early stage.
3. Demo Trading
Once the account is sufficiently funded, Bitcoin Loophole’s affiliated brokers provide you with dummy funds for practice trading. Usually, the demo account is valid for as long as you need but the broker will deactivate it after 30 days of inactivity. The demo account is important in that it allows you to test drive the software. During the demo, you can also choose manual trading to see how much difference it makes having the software activated. Before you start trading, make sure you have utilized the dummy account in the best way possible. It helps with learning the ropes of the new system as well as learning how to set risk management levels.
4. Start Trading
This is the time now to exercise all the gems you learnt using the demo trading account. In addition, Bitcoin Loophole’s affiliated brokers provide educational material to guide you through live trading. The material includes tutorials on how to specify stop loss and take profit parameters for the trading software to execute. It is important that you learn all that you can before you begin trading with real cash, as cryptocurrency is a volatile marketplace.
Key Features of Bitcoin Loophole
The cryptocurrency automated trading software market is now a crowded place as more developers come with different solutions. User testimonials that we found online claim that Bitcoin Loophole stands out head and shoulders from the crowd based on the key features discussed below:
Bitcoin Loophole’s success rate is said to set it apart from the competition. The information available on the website states that the normal range of daily profits for the bot’s users can be from $200 to $800. We find this a much more realistic amount than other similar products claim. Indeed, we often find bad actors among those who boast thousands of dollars a day.
At the registration phase, the software insists on a valid email address and a working telephone number whose purpose is to enable customer service to reach out for verification and to provide support. The system takes a few seconds to verify the details before conveying you to the appropriate affiliated broker.
On the affiliated broker’s platform, you will be requested to provide a few more details like your physical address. At the very end, you will be required to fund your account using provided channels. The beauty of this whole process is that it is fast and easy. To deposit funds, for instance, the affiliated broker in our case supported many of the payment channels that are easily available. Within 24 hours, the funds reflect in your account and you can start trading.
The Withdrawal Process for Bitcoin Loophole
Bitcoin Loophole users can request for withdrawal any time. When you lodge a withdrawal request, the cashier of the affiliated broker will first verify the proof of identity which you must provide. Other details demanded include the address used to register for an account, and the payment information. This process is quick and your funds should be in the account within 24 hours.
Costs and Fees
Obtaining the Bitcoin Loophole robot is without charge. In addition, there are no fees incurred when using the robot such that the amount a user receives in the bank account provided after withdrawal is 100% of the requested amount. The way that the affiliated broker makes their money is through commissions charged on spreads, inactivity fees etc.
During our investigation, we encountered high-quality customer service from Bitcoin Loophole’s representatives. These agents were quick in responding to the issues we raised. Users are likely to get feedback to their emails in less than two hours. Besides the email, users can reach Bitcoin Loophole customer service through a telephone, where they will be directed to a well-trained member of staff.
At this point, we must clarify that Bitcoin Loophole only enables cryptocurrency traders to automate the activities that go into trading. To access the market, users require brokers to provide the linkage. Once your account on Bitcoin Loophole is done and dusted, the software automatically transfers to a broker so that you can start trading.
Although the software does not allow selection of a preferred broker, it links you to affiliated brokers that are appropriate based on your geographical location. The affiliated broker that we were paired with has the right accreditation and licensure from recognised regulators. Bitcoin Loophole integrates into the affiliated broker’s trading platform and the only thing you do to start using it is to turn the software on. Based on the parameters fed into the system, it deploys its algorithms to give off signals that you follow to take positions in the market.
Is Bitcoin Loophole a Scam?
Cryptocurrency is just coming up as an alternative investment vehicle and one that has changed lives in the recent past. The rise of automation systems such is part of the reason why cryptocurrency trading is gaining traction. Unfortunately, some bad actors have hijacked the benevolence of the systems to construct elaborate scams to defraud unsuspecting traders. That is why, in this review, we shook the Bitcoin Loophole tree to see if anything suspicious would fall.
Bitcoin Loophole has a responsive customer service ready to respond to any issues one might raise. Because the team behind the software is dedicated to holding the users’ hands through their interaction with the platform, it helps to add weight to its legitimacy. Additionally, our investigation found many online reviews casting the software in a positive light. The testimonials confirm that Bitcoin Loophole’s affiliated brokers are professional entities regulated by reputable authorities.
5 Reasons to Use Bitcoin Loophole for Trading
Before signing up for some new software, there is always some need that drives that decision. As stated earlier, Bitcoin Loophole is reported as one in many automated systems helping crypto traders to improve their chances at profit in the market. But an important question in this review is; why should you use Bitcoin Loophole instead of all the other available options? Here are some recurring points that we discovered among testimonials and other online reviews.
1. Intuitive User Interface
The first thing that jumps into your sight when you open the Bitcoin Loophole platform is the practical interface which is quite pleasing to the eye. There is nothing complex nor overly complicated. Feeding preferred parameters into software has never been simpler. The interface provides clear directions to help you avoid making a mistake.
2. Boasts Market-Leading Win Rate
Most trading bots available in the market today have a semblance of artificial intelligence to speed up functionality. Bitcoin Loophole reportedly takes this concept to a new level by combining machine learning (ML) and natural language processing (NLP) to improve the win rates of trades according to testimonials posted by its users.
A fusion of ML and NLP means that well-developed auto trading software can learn from past mistakes and pick out the direction of the market by simply tracking the sentiment, placing a finger on the market’s pulse, so to speak.
3. Faster than Manual Trading
Because of ML and NLP, properly functioning software could be described as having a mind of its own, which remembers processes and is capable of making complex decisions in fractions of a second. Fusing the two technologies together means that these algorithms can gather and analyse tons of data in an unbelievably short period of time. The result is the ability to exploit the volatility in fast-moving markets for profit.
4. Smart Analytics
Because of smart analytics, the probability of the software being right is higher than that of an expert trader. The algorithms mimic the best human minds to scour the market for trading opportunities before the rest of the players can spot them. This edge is all traders need to take successful positions in the market.
5. Remove Human Error
An automated trading software follows logic derived from the available information, meaning there is no chance for emotions to mess up the signals that such software provides. Psychological aspects of human trading pose a grave danger to profitability because of mental exhaustion or simply the desire to emulate the majority because of the inability to take in everything that market data is trying to communicate. Because trading robots like Bitcoin Loophole is reported to be are unaffected by such incapability, there is no chance for error in the trading decisions taken.
Our Bitcoin Loophole experience: Key features
- Payment Methods: Credit Card, Debit Card, Bank Transfer, Bank Wire
- Customer Support: 24/7 customer support
- Professional Trading Indicators
The BTC Loophole app has several nice features to make your trading experience smooth and easy according to reviews posted by its users. One is the demo account. The system allows you to set up a demo account with virtual money, enabling you to familiarise yourself with the software in a practice environment before you invest any real money. Once you're ready to trade, the system will connect you with recommended brokers to help handle your investments. The website states that Bitcoin Loophole runs on both your desktop and mobile devices, so you can invest and trade on the go. You're shouldn't be tied to your computer as with some inferior systems. The BTC Loophole interface allows you to choose from a range of languages. Withdrawals are easy. You simply log in, select the withdrawal option and specify the amount you want to take out of your trading account. The money is then credited to your bank account within two working days.
How does Bitcoin Loophole compare to other robots?
The BTC Loophole system has received numerous positive reviews, unlike some inferior products. It's perhaps a little more advanced than Steve McKay's earlier Bitcoin Code system, although according to users, there's not a great deal to choose between them. BTC Loophole is also very similar in principle to another contender, CryptoSoft. The BTC Loophole mobile app also compares well with similar systems; it's reported as being very user-friendly and stable. The minimum investment of $250 compares favourably with other bots' minimums as it's in line with the expected outlay for a system of this type.
Advantages and Disadvantages of Bitcoin Loophole
Bitcoin Loophole review: Our Conclusion
The automated cryptocurrency trading ecosystem is crowding fast and getting the software that will cater to your needs is becoming more difficult. This is why we spent long hours putting this review together to highlight Bitcoin Loophole.
The Bitcoin Loophole website claims that its bot is specifically made for those who want to earn from trading markets without spending long hours analysing the market. The software has an easy to use interface that entails simply pointing and clicking to set it up. You should spend less than five minutes to register on the platform before you can start using it.
The software stands out in terms of pay-outs and customer services, and the fact that it is free of charge according to it's user-base. It is also reported to have powerful algorithms that use NLP and ML to gather and analyse the market for trading opportunities, similar to what reviews have said about similar products such as like Profit Formula, Bitcoin Compass, and Crypto Hopper.
Auto-trading software is designed to enable the user to achieve a trading level untainted by human emotions, whose success rates well surpasses the best human brains in the ecosystem. Because of the NLP and ML-based algorithms, these programs plough through tons of market data in seconds.
Frequently Asked Questions
We reached out to various internet platforms and majority of the testimonials claim that Bitcoin Loophole is legitimate.
Information on Bitcoin Loophole’s website claim that users need only two hours a day of strategizing and setting up of the software and everything would be up and running. However, we are of the opinion that this is only possible for users with plenty of experience using the software.
There is no definitive answer to this question for various reasons including that the crypto market is highly volatile and that your earnings are likely to get better with more experience.
Start by testing the software using a demo account. Also, start trading with a small amount of money for a better learning experience. Lastly, keep abreast of developments in cryptoverse for better decision-making.
During testing, we learnt that Bitcoin Loophole assigns new users to affiliated brokers nearest to them. However, we did not receive any guarantee as far as the broker’s regulation status is concerned.
No. Bitcoin Loophole’s website itself concedes that cryptocurrencies are highly speculative, meaning they are highly disposed to gyrations. This also tells you that your ability to make money depends on other factors such as your knowledge of the market and your understating of the robot.
Yes. We have reviewed similar software which you can find on our robot hub.
No. Our initial impression was that Bitcoin Loophole had the blessings of various celebrities but further research determined the claims to be untrue.