Bitcoin Trader: How does it work? Review of the auto trading software
- Bitcoin Trader: How does it work? Review of the auto trading software
- What is Bitcoin Trader?
- How to trade with Bitcoin Trader
- What are the key features of Bitcoin Trader?
- Free Demo Account
- Advantages of Bitcoin Trader
- Disadvantages of Bitcoin Trader
- Tips and Tricks
- Customer Support
- Does Bitcoin Trader’s website and platform support other languages?
- Does Bitcoin Trader have a downloadable mobile app?
- Is Bitcoin Trader available in the United States?
- Are there any fees I should know about?
- Is it possible to withdraw cryptocurrency from Bitcoin Trader?
- What is Bitcoin, and should I invest all my money in it?
- Bitcoin Trader
Everyone on the internet has heard of Bitcoin. It has been gaining popularity because of what experts say about this specific cryptocurrency. They have predicted that its value could reach more than $1 million by the end of the year.
It is no surprise that everyone wants to invest in this asset before it’s too late. But how are non-traders going to make a profit from this asset if they don’t know the first thing about trading cryptocurrency? This is the main reason why automated trading robots were created.
This article focuses on a particular trading bot known as Bitcoin Trader. Answers to important questions such as “Is this software safe?”, “How does it work?” and “Is it free?” can be found here. There are also a couple of tips and tricks written here that can help jumpstart your trading career.
(3.7 / 5)
What is Bitcoin Trader?
Launched in 2016, Bitcoin Trader functions as a third-party automatic trading robot. They claim to be one of the pioneers in using artificial intelligence, deep learning, and natural language processing for trading assets. It uses a state-of-the-art algorithm that continuously updates and improves itself based on past market trades, market conditions, as well as significant market-moving news.
Users of this software can take advantage of the advanced AI that programmers have developed for Bitcoin Trader. According to their website, along with numerous user testimonials, a profit rate of up to 70% is achievable on a daily basis, but not guaranteed Additionally, they boast of their high win rate of up to 90%.
Is Bitcoin Trader legit and safe?
Bitcoin Trader ensures all its clients that the brokers associated with this software are regulated and adhere to the strict rules implemented by numerous regulatory bodies like the ASIC or the Australian Securities and Investments Commission and the FCA or the Financial Conduct Authority.
Protecting the client’s data and other personal information is also paramount. Bitcoin Trader’s platform is SSL certified and is also equipped with antivirus programs. Additionally, this software strictly follows the rules that the GDPR or the General Data Protection Regulation has implemented to ensure that all the sensitive data provided to Bitcoin Trader is safe from hackers.
How do you create a Bitcoin Trader account?
Bitcoin Trader will promptly process the verification of your account and will send you an email containing your login credentials as well as information on the broker assigned to you. Also, a customer representative might give you a call, so make sure that your mobile phone is right next to you when you register for an account with Bitcoin Trader.
How do you deposit and withdraw funds from your Bitcoin Trader account?
Before you start trading live, you will, of course, need to deposit funds to your account. Keep in mind that the minimum deposit amount is £250 or €250. For the convenience of the client, Bitcoin Trader accepts payment through Visa, MasterCard, or Maestro debit, or credit cards. It is worth noting that the platform will need to verify the card you are using to deposit funds. Clients can rest assured that their bank details are safe and protected by the SSL Certificate. The funds will instantly be credited to your account as soon as Bitcoin Trader confirms the authenticity of your card.
When withdrawing funds, clients are required to fill up a withdrawal request along with their bank details. As soon as you send in the request, Bitcoin Trader will promptly process your withdrawal. The amount you took out should reflect on your account within 24 to 48 hours.
How does Bitcoin Trader work?
Bitcoin Trader, as an automatic trading robot, executes trades that have been assessed to be profitable by pre-determined rules, settings, and data constructed by its sophisticated algorithm. This software automatically partners its clients with regulated brokers to give the users legal access to the worldwide network of financial institutions. Having this direct connection is a gateway for clients to liquidity providers and market makers that will provide enough volume for their trades at the price they want. Since Bitcoin Trader users are also technically clients of the broker, they could utilize the margin and leverage features provided by the broker.
Bitcoin Trader’s robot is capable of improving because of machine learning through deep learning and natural language processing. This is to ensure that the robot can continuously provide the best service to its clients through consistent profits. In addition to this, the algorithm does research on its own and scans through thousands of news articles to identify potential trading signals. This action is done at high speeds to ensure that clients are always the first to execute their positions when the news pops up.
How to trade with Bitcoin Trader
As eager as you are to start trading with Bitcoin Trader, you must first follow a two-step process to be able to access the live trading feature.
The first step is to create an account and verify it. As previously mentioned, this process won’t take more than a minute. Make sure to log in using the credentials provided by Bitcoin Trader to avoid any problems.
As soon as you log into your account, you will need to go through the next step, which is to add funds to your account. Adding funds won’t take much of your time either, but keep in mind that the minimum deposit requires by Bitcoin Trader is £250 or €250. After your initial deposit, however, you can add as much or as little funds as you want. Once the funds have been credited to your account, you can start trading live. When trading automatically, users will only need to change the settings of the robot to fit their trading strategy. Although it is not required, a little bit of research can go a long way.
Make sure to set aside at least 20 minutes each day to study the market and to calibrate the settings of your trading bot. You should also check on it from time to time just to make sure the settings you chose are still viable.
What are the key features of Bitcoin Trader?
Automated trading is the feature that offers the most convenience because it can function on its own with little to no human guidance. It basically acts as your personal professional fund manager and will only execute trades based on pre-determined or customized rules and settings. This fully eliminates the risk that comes from human error.
Additionally, since Bitcoin Trader functions at supersonic speeds, you can rest assured that your trades will be executed accurately and all trading opportunities will be found consistently. Users have reported a win rate of up to 90% and a profit rate that can reach 70%.
Bitcoin Trader does not only offer automated trading. For clients who prefer to trade manually, Bitcoin Trader has a manual trading feature on the platform. All trades that are executed on Bitcoin Trader’s interface go through the broker’s network.
As an added feature of Bitcoin Trader, they provide trading signals which clients can use at their discretion. These trading signals were created by Bitcoin Trader’s proprietary algorithm and will, more likely than not, net you a profit.
Bitcoin Trader’s platform requires no download and can be accessed through any web browser on any device. The platform is user-friendly and supports numerous languages such as English, German, Spanish, Polish, Portuguese, Russian, Swedish, Danish, Finnish, Dutch, Italian, and French. On the platform, you will see four different tabs for all your trading needs. These are the trading room, open trades, trading history, and demo account.
The trading room contains everything you need to set up your trading bot. The settings you can modify are your maximum daily trades, the asset the bot can trade, the minimum trade amount, daily stop loss, maximum concurrent trades, and daily take profit.
Some of the assets that the bot can trade include
- and BTC/USD.
Your total profit, total balance, and all the brokers you are partnered with can also be found in the trading room section.
Your tab for open trade will act as your portfolio, and the tab for trading history will allow for an easier review of trades. From Bitcoin Trader’s website, you can also directly deposit and withdraw your funds. These transactions will be directly sent to your partnered broker.
Bitcoin Trader’s mobile application gives you access to the same features found on the web-based platform. In addition to this, you will also find a simple chart on your selected asset and a trend indicator for all of the assets available on Bitcoin Trader. According to its Google Play Store page, they offer 45 different crypto CFDs that provide diversification for your portfolio and consistent trading opportunities that your bot could execute. The application is available for Android users only.
Although this app is only available to clients in the UK, US, Asia, and some parts of Africa, you can still use this app with the help of a VPN, no matter where you are.
Free Demo Account
Unlike most third-party services that have a proprietary algorithm, Bitcoin Trader has a free demo account feature. Even when using the free demo account, you can still access its trading bot. This gives clients the opportunity to test out their software without having to deposit any amount of funds. With this, clients could compare their system with other trading bots in the market to gauge its performance on certain market conditions.
When accessing the demo account, you will see that you have been given a set amount of funds that you can use either for manual trading or for auto-trading. Keep in mind that whatever profits you gain using the demo account are non-withdrawable.
Advantages of Bitcoin Trader
Signing up with Bitcoin Trader is so easy that it only takes a few minutes, if not a few seconds. Unlike other services that would require a lot of details, Bitcoin Trader only needs you to fill up a short form that contains your email address, full name, and mobile number. A password for your account will be sent immediately to your email address to access their platform and the broker’s platform as well. Additionally, it should be noted that it is stated on their website that upon signing up, you will be assisted immediately to help you navigate through their website.
Bitcoin Trader and their partner brokers know how important withdrawing funds is, and that is why they have a reputation for having fast withdrawal times. Being able to withdraw as soon as possible allows clients to enjoy these funds once it arrives in their bank account. Clients can then use this for other investments through rolling over. As partners of regulated brokers, Bitcoin Trader and their clients have direct access to the international market. With liquidity providers and market makers that provide a real-time trading experience, you will be able to get the volume of the asset you want at the best price when your bot places an order.
Bitcoin Trader and its parter brokers support multiple payment methods. The most notable payment methods include bank wire transfer, debit and credit card payments that use Mastercard and Visa, and online e-payment platforms such as Skrill and Neteller. To view a full list of acceptable payment methods, you can see a full list on your broker’s platform. The best thing about being a client of Bitcoin Trader is that signing up is absolutely free. Unlike other trading bots that charge a certain amount once a trade is executed, Bitcoin Trader’s software allows you to try out their software. However, it should be noted that your Bitcoin Trader charges a 2% profit share on successful trades. This 2% is used to fund the development of the trading bot and its algorithm to benefit their clients in the long run.
Disadvantages of Bitcoin Trader
According to numerous user reviews, their customer service representatives have been rude to their respective clients. This is maybe due to the sheer number of users that sign up with Bitcoin Trader. Since these user reviews have not been updated in a while, perhaps Bitcoin Trader has already improved its staff to meet the standards of clients. Aside from the 2% commission that Bitcoin Trader charges, clients should note that their partnered broker might charge separate commission fees on their trades, whether it be manually or automatically executed. Make sure to read the disclaimer on the broker’s website to avoid any inconvenience in the future.
Bitcoin Trader is not available for some US customers due to the laws and regulations, such as providing a lot of information about the client. On the other hand, this enables a quick and easy way to sign up, and you could focus on making profits rather than having difficulty dealing with US regulations.
Tips and Tricks
Experts are saying that Bitcoin’s price might reach a million dollars after reaching $60,000 in 2021. To take advantage of that, you need to learn how to invest or trade, but there is an alternative to that. Being able to invest through a trading bot does not only guarantee that you’ll be safer from the drawdowns of this volatile market, but you will be able to participate in the bullish moves that the cryptocurrency industry has to offer.
With multiple settings for your trading bot, not only can you invest in multiple cryptocurrencies at once, but you can manage the specifications of your trading positions, such as your minimum investment as well as the risk you’re willing to take per trade.
Although clients and users are able to manage their stop losses from the interface of Bitcoin Trader, it is best to double-check this value from time to time due to market conditions. Sometimes, adjusting this value to be lower or higher will be beneficial for you as it prevents premature exits that come from trades that could have gone right. This action also prevents large losses that could come from knowing when the market could potentially collapse. New clients might feel reluctant to put in a lot of funds from the get-go. That is why we suggest putting in a small amount of cash into your account first. Even an amount that just reaches the minimum deposit will do. This will allow you to explore their platform and services of the auto trading bot with little risk while also gauging its performance for your portfolio.
Once you’ve gained a lot of profits on your account and have grown your portfolio to a sizeable level, we suggest doing a rollover. A rollover, or the act of taking profits and investing them elsewhere, will allow you to diversify your assets that would lead to less risk and more opportunities. With new cryptocurrencies popping up, such as those that belong in the DeFi subcategory or those that belong to the Binance Smart Chain, it would be wise to do your research and invest a small amount in these. Maybe they would multiply in value like how Bitcoin has grown since 2009.
Aside from doing your own research, it wouldn’t hurt to listen to experts and crypto veterans. Sometimes, it would be even beneficial to you since they know how the market has moved in the past, and this would give you additional insight into its future performance. Having an open mind decreases your chances of losing in the market and also decreases your risk if you’ve properly managed your losses.
We suggest keeping track of your funds and profits since this would be your basis for analyzing your performance with or without the trading bot. Knowing specifically when you or the trading bot does well will significantly increase your earnings as you’re able to transition between automated and manual trading. Additionally, with proper documentation, you would be able to keep track of the taxes you should pay from capital gains tax. This is to ensure that you have already taken into account your true portfolio value.
Bitcoin Trader’s customer support representatives are readily available to answer all your queries 24/7. Bitcoin Trader account holders can contact them via the live chat feature on the platform. For traders who don’t have an account, you can give them a call at 020 3213 1386.
Frequently asked questions:
Does Bitcoin Trader’s website and platform support other languages?
Both the platform and the website support multiple languages. These languages are Swedish, Spanish, Russian, Portuguese, Polish, Norwegian, Italian, German, French, Finnish, English, Dutch, and Danish. It was not mentioned, however, if these languages are also supported by the customer support representatives on the live chat system on the platform.
Does Bitcoin Trader have a downloadable mobile app?
Bitcoin Trader does have a mobile app, but it is only available for Android users in certain countries. This is free and can be downloaded from the Google Play Store.
Is Bitcoin Trader available in the United States?
Unfortunately, this trading software is not available for all US residents. There are, however, multiple alternative applications that US residents can use.
Are there any fees I should know about?
Bitcoin Trader does not charge clients a registration fee. If you check the website, they are completely transparent, and they have no hidden fees. Keep in mind that they do charge a 2% commission for all your profitable trades.
Is it possible to withdraw cryptocurrency from Bitcoin Trader?
Sadly, Bitcoin Trader does not support the withdrawal of cryptocurrency. As soon as you submit your withdrawal request, your profits will automatically be converted to your local currency before it is credited to your account.
What is Bitcoin, and should I invest all my money in it?
Bitcoin is a digital currency that is predicted to have a value of $1 million by the end of the year. It is decentralized, is not affected by inflation, and could possibly replace fiat currency in the future. Although a lot of traders have gained millions because of Bitcoin, you should not invest all your money in this asset. Trading is always risky, and all investments require the proper allocation of funds. Be sure to only invest what you can afford to lose.
Last Updated on March 6, 2022 by Andre Witzel