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Bitcoin Trader

Bitcoin Trader Review 2021 – Is It Worth It?

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The cryptocurrency market is a $348 billion market, with an average $103 billion volume in 24 hours. The growth of the market has seen crypto trading explode. Each day there are thousands of individuals trying to enter the market and make something for themselves. Thanks to the high volatility, crypto trading can be quite lucrative. But, you need to be able to analyse vast amounts of data and time the market right. Manually, this process is daunting and exhausting, but thanks to automated trading bots, you can make the most of this opportunity.

What Is Bitcoin Trader?

Bitcoin Trader is reportedly a software that uses smart algorithms, artificial intelligence, and machine learning to automate the cryptocurrency trading process. Doing this takes the hard work off the process of manually analysing charts and technical data to place winning trades. The crypto market moves fast, and it's almost impossible to beat. The website claims that this trading robot can analyse, calculate, and make decisions in a fraction of a second, thereby giving its users an edge.

Who’s Behind Bitcoin Trader?

The people behind this bot have chosen to remain anonymous, just like Satoshi Nakamoto and other blockchain project pioneers who value their privacy. Such individuals don't seek acknowledgement for personal gratification but aim to make a difference in the world by offering products that make a difference in people's lives. Judging by how sophisticated this trading bot is reported to be by user testimonials, the team behind this platform would have to be people who are well-versed in developing complicated trading software and have knowledge of how the trading markets work.

 

How to Use Bitcoin Trader

1. Getting Started

On the official website for Bitcoin Trader, scroll to the middle section and click on "Join Now." This will open a form where you have to enter your name, email address, phone number, and then click on "Register Now." You will be linked to a broker that helps you access various trading markets where you will have to click on "Open Terminal."

2. Make a Deposit

Once you open the terminal, you will be sent to a page where you can fund your account. Enter your address and other relevant details, then click "Continue." You will be taken to a page where you will choose how you would like to make the deposit. You will find several options, including credit/debit cards, Neteller, Skrill, Bitcoin, Rave, and DusuPay. Select the most appropriate mode for you and proceed to make the deposit. The funds will immediately appear in your account, but, at times, this process can take up to a few hours.

3. Start Trading

Before you begin trading, you have to verify your account by submitting photos of your official ID or passport and a document that shows your place of residence. Then visit the demo account where you will use the platform's funds to practice how to trade cryptocurrencies and set strategies using the auto trader. Once you are confident with your skills, proceed to set up your strategy and allow the bot to trade for you.

Key Features of Bitcoin Trader

In a market that is full of automated cryptocurrency software, how do you choose the best of them all? What are the key things you should look out for to ensure that you make the best decision? Below, we will go over five features on Bitcoin Trader that users claim has the bot stand out from the rest.  

Payouts

We utilised the demo account where we were assigned $100,000 virtual money to practice and perfect our strategy. We feel that although the platform could help investors earn a profit, certain conditions would have to be in place, such as plenty of experience, greater trading capital and favourable market conditions. 

Verification System

After signing up and depositing funds, you will be required to verify your account before trading. This is necessary because the platform abides by specific rules and regulations since it's a money-making platform. You will have to upload a picture of your national ID or passport and an official document like a bank statement that shows your place of residence. The platform will review the documents, and if everything checks out, the account will be approved in an hour or so. One vital detail to pay attention to if you don't want to fail this verification process is to ensure that you register the account using your official name.

The Withdrawal Process for Bitcoin Trader

The payouts are instant on Bitcoin Trader, but what of withdrawals? Users of  won several trades during our testing, and we withdrew immediately to our bank account since we had it linked during the signup process. We are pleased to inform you that all the requests were processed within 24 hours. Also, given that there are several payment modes supported on this platform, it's possible to withdraw using the method that suits you best.

Costs and Fees

Bitcoin Trader is entirely a free trading bot that doesn't charge any fees during deposits or withdrawals. But, you are likely to experience some costs when depositing or withdrawing depending on the mode of payment you choose to use.  

Customer Service

Once you sign-in on the platform, you will receive a call from the customer desk who will welcome and walk you through various aspects. They will even advise you on making the best of the trading robot, like using the demo account to practice and ensuring that you regularly check the bot and adjust your strategy according to how the market is moving. You can reach the support via email, and they will get back to you within 24 hours, or you can also contact them via the chatbox located on the bottom corner of your dashboard and receive immediate help. 

Affiliated Brokers

To enable traders based in various locations worldwide to access different markets, Bitcoin Trader associates with several brokers regulated within the jurisdictions they operate. Once you sign up, you will be linked to a broker that works within your area. 

Is Bitcoin Trader a Scam?

Based on our extensive research of user testimonials and online reviews, Bitcoin Trader appears to be a legit cryptocurrency trading bot that offers fast payouts and processes withdrawal requests within 24 hours. Also, the customer support was quite responsive and professional. Any issues we had while using the bot, they were on hand to offer support, and their services were around the clock. Additionally, this platform will require one to verify their identity by uploading official documents since it has to comply with regulators who watch over the money-making platforms to ensure no fraud or phoney business is going on.

5 Reasons to Use Bitcoin Trader for Trading

1. Intuitive User Interface

When your account is verified, you will be taken to the dashboard with a user interface that is both graphically appealing to the eyes and appears neat. Everything is arranged in an orderly manner, making it simple to navigate. You will be able to see various instruments, including currencies, commodities, indices, and stocks. Then there is a buy and sell button on your top left and a chart of the market at the centre. On the bottom bar, you can also see the open positions and orders. Plus, there are price alerts and various reports.

2. Boasts Market-Leading Win Rate

Among the many trading robots available today in the market, Bitcoin Trader boasts one of the highest win rates on all trades placed. According to their website, the figure is above 90%. Although this statistic is achievable for well-developed trading software, we do feel that it is likely an example of the maximum performance of the robot while operating under ideal market conditions. 

3. Faster Than Manual Trading

Since the auto trading platform claims to employ sophisticated algorithms, AI, and ML, as an auto trader, it should be able to do millions of calculations and analysis of market data at breathtaking speeds before executing trades based on the findings. These technologies make software faster and more accurate with decisions as compared to a human trader. 

4. Smart Analytics

Smart analytics involves the ability to use smart software to collect data and process it to useful information. Bitcoin Trader reportedly uses smart technology to collect vast amounts of relevant data surrounding the cryptocurrency market from news, press releases, etc. It can then determine the likely influence the piece of information will have on the market and execute its trades based on that, thereby giving the user advantage and ensuring that it maintains its high win rate. 

5. Remove Human Error

What makes robots stand out from human beings is the ability to execute decisions based on facts without emotions. Feelings are what make us human, but they can mess with our judgment, especially when we are under pressure from trying to analyse vast amounts of data and make fast decisions. As psychologists say, the heart will always win when the mind has to compete with the heart. By automating your trades, you eliminate the chances of failing.

Advantages and Disadvantages of Bitcoin Trader

Pros

Less time required to monitor trades
Potentially creates a viable source of passive income
Less stress from having to analyse vast market data
You don't have to be a pro trader to operate the platform

Cons

The initial amount could be too much for some traders
Doesn't support many cryptocurrencies

Our Conclusion

If you are active within the cryptocurrency market in various forums on Reddit, Telegram groups, and even the Twitter community, you may already have heard of Bitcoin Trader. The trading software has apparently taken the market by storm thanks to its ability to automate trades for users and simplify what has been an overwhelming experience for many, especially for beginner traders. This is reflected in the numerous online testimonials we discovered.

The platform is supported by a customer support team who will call you and will also advise you on how to go about the platform. They advise you to make use of the demo account, which helps you understand setting up parameters and using different strategies to withdraw funds to your account. We also went through several reviews from popular cryptocurrency websites, which proved favourable. 

That said, it is important to know that trading cryptocurrencies through CFDs carries significant risk, even when you are using the best software. Never invest an amount that you could not afford to lose, and learn all you can about the crypto you intend to trade.

Frequently Asked Questions

  1. During our investigation, we encountered user statements affirming that Bitcoin Trader is a legitimate trading robot.

  2. The official Bitcoin Trader website claims that an average user needs to spend between two and three hours each day to set up Bitcoin Trader.

  3. Bitcoin Trader’s website claims users can earn up to $1,500 in daily income using the software, but we feel this figure is impractical. Nonetheless, you could earn this figure if you stake a high-enough trading capital, and that you practice well enough.

  4. You should start by practising. Bitcoin Trader incorporates a demo account that facilitates training to understand the working of the software. Having mastered the software, you should now seek as much information about crypto markets as humanly possible.

  5. In testing, we redirected to a broker’s trading platform from where we could carry out crypto trading activities. Bitcoin Trader performs the redirections to facilitate trading but fails to provide guarantees regarding the legal standing of the brokers. Make sure to check the regulatory status of the broker first.

  6. No. Price gyrations in crypto markets are mind-blowing, which denies trading robots the ability to guarantee income generation, no matter how well-designed.

  7. Yes. Visit our robot hub to view robots we have previously reviewed.

  8. No. There are such claims but they lack supporting evidence.

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