Bitcoin Profit Test and Review - Scam or Not?
Bitcoin, the first digital currency has taken the world by storm with many people becoming first-time millionaires during the spike in Bitcoin prices in 2017. Since then many have taken trading in cryptocurrencies seriously, with some even making it a full-time day job.
Making money through trading in these digital assets requires technical and analytical skills that very few possess. Additionally, it takes time to learn the practical details that lead to successful trading. As a result, trading robots have become invaluable trading assistants .
Unfortunately, there are more fake bots than legitimate ones. Our goal is to research different trading robots to find out if they are legit. In this review, we share our findings of the famous robot, Bitcoin Profit.
Many reviews claim that Bitcoin Profit is a legitimate robot, and it seems traders also agree. Our research makes the same conclusion, but we’ve still broken down Bitcoin Profit and analysed its capabilities.
What is Bitcoin Profit?
BTC Profit is free and automated cryptocurrency trading software that helps beginners, as well as professional traders to maximise their profit gains. It achieves this by first linking the trader to trading exchanges and then uses specific market indicators to determine the future performance of a given cryptocurrency. According to the official website, it is ahead of the market by 0.01seconds. That is, if the price is to change at 14:00:00hrs, the robot will indicate it at 13:59:99hrs.
Pros and Cons of Bitcoin Profit
- Free of charge: You can use the program for free. It charges no commission or transaction fees. Since the robot receives payment for every user, it links to a broker; it does not need to charge the user directly.
- Reputable app: BTC Profit app has received several accolades from traders as one of the best cryptocurrency trading apps.
- Zero experience: The robot uses a sophisticated algorithm to conduct trading on behalf of the trader. You do not need the experience to trade successfully unless you choose the manual option.
- Demo account: It has a demo account where traders can try the operation of the robot before putting in their money.
- Fake websites: The main setback the robot suffers is the number of fake sites that dupe traders. Most traders who have declared BTC Profit as a scam refer to these fraudulent websites and their affiliate links often. While this review states only one, there are chances that there might be more
- No Broker freedom: The user never gets a chance to choose the broker of their choice as the robot does this automatically.
Registering with Bitcoin Profit is simple and has the same process as other recommended robots. It consists of 3 steps; signing up, depositing into your account, and then simply hitting the button ‘auto-trading’. Follow the instructions below to start trading now.
Step 1: Registration
Registering is easy, you’ll need to fill out your name, email address, phone number and then set a password. Signing up is completely free, click the link below to get started. Once signed up, you’ll receive a confirmation email and will need to verify your account.
Step 2: Deposit
Once into your account, hit the deposit button to get started. You will need to deposit the minimum amount, which is $250, and we’d recommend not going over this on day 1. Start small and grow. Bitcoin Profit offers several payment methods, with card payments being the most popular.
Step 3: Auto-trading
Once you have funded your account, you will need to decide the trade settings you intend to use. This includes managing your risk by determining your stop loss and take profit limits. You can also decide which cryptocurrencies you want to trade and how many you want to trade at once.
Is Bitcoin Profit a Scam?
We wish the answer to this question were a simple yes or no, but it is not. The first problem we faced when researching about this platform robot is the existence of more than one website with the same name and logo and more than a dozen apps. This is due to copycat clones of the robot being released by less-legitimate providers.
The official website is simple and straightforward. It provides some performance expectations, claiming 99.4% accuracy. It also offers insight into crucial features of the robot, and an option to use the demo account before starting.
Unfortunately, there are many copycat scams out there of this robot, so be careful and make sure to use the official robot link on this page.
Our Take on Bitcoin Profit
As there are so many reviews out there that reflect negatively on the Bitcoin Profit robot, we were at first worried that this was indeed a scam. However, after further investigation, we believe the majority of these reviews are about copycat clones that don’t offer the same functionality that the official Bitcoin Profit robot does.
Is Bitcoin Profit a scam? With all of the above in mind, we believe that its reputation and history has shown it is there to earn strong profits for its users – but because of this reputation, it has attracted many copycat scams. Steer well clear of these duping websites, and use our official link to the real Bitcoin Profit robot.
Our Bitcoin Profit Experience
The Team Behind Bitcoin Profit
Not much is available on the background of the robot. It claims to be the brainchild of a person named John Mayer, but no information is available about him. The terms and conditions on the site also indicate that the software operates under the laws of Estonia.
The little information about the team behind the robot is not a sufficient reason to flag it as a fraud. Several legitimate robots do not provide details of the team behind them. It might be a trend amongst the whiz kids behind these sophisticated platforms, or they do it for safety reasons. There is a lot of attention in the auto-trading industry due to the many copycat scams out there. For this reason, many owner/operators try to remain anonymous to protect any unwarranted issues.
Bitcoin Profit Key Features
- Automated trading: The robot automatically takes over trading activities for the trader. It uses an advanced algorithm to select trade options, as well as open and close trades.. Additionally, you can still control your loss limits, trade assets, and the amount of money the robot spends on a trade.
- Mobile app: BTC Profit already has an easy to use web-based platform. It is also one of the leading crypto trading robots with an app. Download it from the main website to avoid the numerous clones.
- Real-time alerts: The robot monitors the changes of various indicators in the market, identifies trends, and predicts profitable opportunities using its sophisticated algorithm. It then notifies the trader through SMS or email notifications are real time. You can turn off the alerts.
How Does Bitcoin Profit Compare with Other Robots?
Bitcoin Profit is free and delivers with nearly the same accuracy as subscription-based robots. It provides you with a certain level of control; which is a standard feature in all legitimate trading robots. Its limitation, besides the numerous clones, is not allowing the trader to choose a broker of their choice, but as a beginner, this is usually something that won’t impact your trading results.
Our verdict is that Bitcoin Profit is a legitimate cryptocurrency trading robot. Its reputation has made it a target for scammers who have created several clones to dupe traders. It does, however, still require polishing on its website to remove the sales pitches that worked well in 2017 when the cryptocurrency market reached all-time high prices. They include 99.4% accuracy, $1,300 profit daily, and the other high yield investment sort of adverts that really were from the huge boom in cryptocurrency back in 2017.
The promises were attainable between January and November 2017, when the price of Bitcoin rose by over 2000%, and other cryptocurrencies even hit 7000%.
However, the market soon took a nosedive and has since remained on the bottom baseline. As a result, such claims make this reputable robot sound like a scam to anyone without a background on the market conditions when the site was set up.
Cryptocurrency trading is becoming more sophisticated as many factors come into play and the market matures. The best practice is to opt for a trading robot that has grown with the industry, probably as old as Bitcoin itself. Try Bitcoin Profit today on your browser or download the mobile app to give it a try for yourself.
Frequently Asked Questions
Why Should I Use a Robot to Buy and Trade Cryptocurrencies?
The main reason is that the robot does not need to sleep or take a vacation. Other reasons are; they are more accurate than we are. They stick to a plan and aren’t susceptible to emotions or greed, and can easily backtest. Additionally, it is easy for a robot to trade in different cryptocurrencies effectively and accurately.
Have any Celebrities Endorsed the Product?
Bitcoin Profit has video clips showing celebrities such as Richard Branson supporting Bitcoin, the cryptocurrency but not the robot. It has not claimed any celebrity endorsements as of yet.
Does Bitcoin Profit Have a Mobile App?
Yes, but ensure you get it from the official website. Otherwise, stick to the web-based interface.
What are the Expected Returns?
Bitcoin Profit promises 99.4% accuracy. However, this is not probable, given the many factors that affect the cryptocurrency market and are most likely the absolute best case examples from the last few years. Be aware that you still need to monitor the performance of the robot and adjust its settings as you go.
Do I Need to Know Anything Else to Start Using Bitcoin Profit?
Yes. Always remember that past success does not always guarantee future ones. Do your research before using any robot.
Our impartial conclusion is that the Bitcoin Profit robot is worth using; in spite of their outdated sales pitch. Create an account today and give the demo a try before moving on to the actual trading robot.