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Since the crypto price surge that started in late 2020, digital coins’ prices have skyrocketed, attracting new traders from all over the world to the crypto market. With most of them lacking the necessary experience to make good, profitable trading decisions, many of them turn to crypto trading robots.
By using trading bots like Primebit Profit, traders can take advantage of emerging opportunities in the current highly bullish market, while they themselves are still studying the behaviour of the market and how to adequately use it to their advantage.
Table of Contents
What is Primebit Profit?
Primebit Profit claims to be an automated trading software for digital currencies that lets the trader deposit a small amount of money, and provide instructions that the robot will follow.
The software then uses these instructions and commands to trade on the individual’s behalf, and through quick reactions to the shifting market, claims to secure profits for its user.
Who’s Behind Primebit Profit?
According to its website, Primebit Profit was created by a team of “highly skilled, talented, and expert professionals” who partnered to create the app. Their main objective was to create a trading software for the digital currency market, and ensure that it will be intuitive enough so that new traders, as well as those who never used robots before, can easily find their way around. They also wanted to offer an advanced technology that will provide vital market analysis in real-time.
The team’s statement claims that they have decades of experience and knowledge in computer technology and online trading. By combining their experience, skill, and understanding of online trading—they claim to have made a highly accurate trading software that is both fast and easy to use.
How to Use Primebit Profit?
Using Primebit Profit is fairly simple, and there are only a few short steps to keep in mind in order to get started.
First, you will need to register, which is really not something to be surprised by, since you must also register on most exchanges, wallets, and anything else that you wish to use. Fortunately, the registration process is fairly easy, and all you need to provide is your:
- First name
- Last name
- Password (can be generated by the website)
- Country of origin
- Phone number
Other than that, you might also have to verify your account, which is likely to happen via an SMS code or a phone call, given that you had to provide your number. But, this is all something that can be done within minutes, and after that, you will be ready to take the next step, which is:
2. Making deposits to fund the account
Whether you use a robot or you wish to trade on your own on some exchange, you need to provide some initial investment that will start making you money. The robot requires the same initial investment, and the only matter to keep in mind is that there is a minimum amount that you have to deposit to get started.
This minimum amount can differ from exchange to exchange, and so is the case with robots, as well. Primebit Profit requires an initial deposit of £250.
3. Preparing to start trading
With your account ready, you can start trading right away. However, before you do, there are a few things you might want to consider doing first. For example, if you are new to crypto and robots alike, you won’t know how to provide the best possible instructions to the robot and make it the most successful in trading on your behalf. You could try reading any educational resources available, whether on the website, or elsewhere on the internet that can help you gain some insight.
After that, you can also use the robot’s demo account to start trading in simulated conditions, while using fake money. This will not help you earn initially, but it will help you figure out the best strategy, experience a convincing simulation of the market without risking actual funds, and prepare you for sudden market shifts.
4. Begin to trade for the first time
At this point, you have your account created, verified, and funded, and hopefully, you also did a bit of homework on the market, strategies, and other similar topics. All that remains is to launch the robot, provide instructions for it to follow while trading on your behalf, and start trading. Note that the site claims that the robot is fairly fast and that gives it the edge over human traders, as it can react to the market changes immediately. Still, its success will greatly depend on your instructions, so you and your self-education about the ways of crypto will still be the key to using the software correctly and profiting from it.
Key Features of Primebit Profit
Determining the payout of an app like Primebit Profit is not possible, given that it depends on too many factors that make the calculation different for each trader. For example, it will depend on how much money you invest, how much you use per trade, how precise your instructions given to the robot are and more. There are even things that you cannot control, including the behaviour of the market, price volatility, liquidity of the coin your robot is trading, and much more.
Even so, Primebit Profit claims that the robot will do everything in its power to perform as best as it can during any circumstances. It says that it is almost impossible to determine daily profits, as the traders’ experience, the amount of money they use, and other factors can have a huge impact on the actual amount.
Verifying your identity is important so that no one could try to trade under your name and make problems for you, whether with the tax authority or in any other way. On Primebit Profit, you must provide your email address and your phone number in order to confirm your identity. But, don’t be concerned about this, as all of it can be completed within minutes, and you will soon be ready to fund your account and start trading.
The Withdrawal Process for Primebit Profit
The withdrawal process on Primebit Profit is very simple, and traders will be glad to know that there are no fees involved for withdrawing, or depositing money, for that matter. There are multiple payment methods to choose from, and all you need to do is find the one that suits you best, and use it. Depending on the method, the money will appear in your account anywhere between a few hours and a few days.
Cost and Fees
As we mentioned earlier, using the Primebit Profit trading software is completely free. There are no costs associated with registering your account, there are no transaction fees, no commissions on trading profits earned, nor does it charge fees for withdrawals and deposits. In fact, the project is not charging you anything. All it requires is that you deposit at least $250 per deposit that you make, as this is the necessary minimum. You can also charge more, with no apparent upper limit. So, with no fees to pay, you seemingly get to keep 100% of your profits.
Customer service is important for all businesses, and especially the ones that deal with money. According to Primebit Profit, the website’s team will deliver a prompt response to you whenever you need to contact them with a question. The customer service has a chat now option, which requires you to provide your name, email address and a message that you wish to send. After that, you may receive the answer to your email, or a live chat response.
Primebit Profit uses several reputable and regulated brokers to provide a gateway to the trading markets for the user. Furthermore, the platform’s own algorithm is used in conjunction with the brokers’ that users are referred to in order to secure the best experience.
Is Primebit Profit a Scam?
According to everything we have seen, Primebit Profit does appear to be an easy to use bot for trading. The robot seems to be a trading solution for users who wish to start trading crypto without having to do all the work themselves. Provided that the user has the necessary knowledge to provide correct instructions, the algorithm appears to be more than capable of taking care of the rest of the work involved in trading as per user testimonials.
5 Reasons to Use Primebit Profit for Trading
If you are still not convinced whether using Primebit Profit is a good idea, here are five reasons why it can be beneficial to consider using it.
1. Intuitive User Interface
There is no doubt that Primebit Profit has done a good job when it comes to its UI. The app is very easy to navigate, and it has some very unique features and functionalities, all of which are quite clear, easy to find, and available to all registered users.
2. Boasts Market-Leading Win Rate
Another thing to consider is that trading software can vastly improve the traders’ win rate, and Primebit Profit beats pretty much all competition when it comes to this factor. Thanks to its advanced algorithm, it tries to place successful trades as per the site. However, keep in mind that its success still depends on your instructions, and even then, the market is sometimes too volatile for even the robot to handle it.
3. Faster than Manual Trading
Using a software-based trader is certainly much better than manual trading, where your biggest weakness is your slow reaction to market changes. There is no helping that—humans can never operate on a computer level. But, we can do the next best thing, which is using robots that can work faster than us.
4. Smart Analytics
Another thing to remember is that the software used by the robot is extremely efficient when it comes to gathering vast quantities of data regarding the market, processing it, interpreting it and deciding what to do based on this information. It can do the same thing that you might need hours to do in only a few seconds, and as such, it has a massive advantage over even the biggest experts of manual trading.
5. Remove Human Error
Humans are far from perfect, and even the biggest and most competent experts make mistakes. Sometimes, in a hurry, you might misinterpret the data, or put in a wrong amount, or even misclick the button in the worst time possible. Not to mention emotional trading, where you can get carried away and make the wrong call due to a long winning streak, only to lose everything. These problems are eliminated when it comes to robotic traders, as they were created to be more precise and accurate.
Advantages and Disadvantages of Primebit Profit
Primebit Profit: Our Conclusion
In conclusion, we can say that based on user testimonials and reviews, Primebit Profit appears to be a safe, free and reliable trading tool that can help new and experienced traders to trade digital currencies around the clock similar to the likes of Bitcoin Code, Bitcoin Evolution, and Crypto Hopper Pro. It has a low minimum deposit but keep in mind that it can also make mistakes—especially if you don’t understand the market well enough to instruct it accurately. Users should gain sufficient information about the product and market before trading.
Frequently Asked Questions
This is impossible to answer with any precision, as the answer differs based on multiple factors, such as the amount of money you deposit, the amount of money you use per trade, the coin you wish to trade, the market performance, the instructions you provide, and more.
No. As per the site, the software doesn’t charge deposit fees, withdrawal fees, trading fees, nor any commission based on the amount of profit it secures for the user.
This depends entirely on you. If you wish, you can let it run non-stop. However, note that you should put aside at least 15-20 minutes per day to check the market and modify parameters, if required. Also, if the market is particularly volatile, you might want to let it work only while you are supervising its performance.
This is also your call to make. The minimum deposit is £250, which is around $347.
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