Bitcoin Bank Review 2021 - Is It Safe & Legit?
Our goal with this Bitcoin Bank review is to establish if this crypto trading bot is legit and safe for traders. There are numerous testimonials online praising this broker for its efficiency and instant payouts. Our team then embarked on checking a few key factors that indicate if it's safe or not.
These included checking the team behind the robot, online reviews from past users, the signing up process, making deposits and trading. We also checked some of the robot's unique features, like the availability of a demo account.
Table of Contents
About Bitcoin Bank Platform / Software
Bitcoin Bank is an advanced trading software that was designed to cater to the volatile cryptocurrency market. Many factors influence the prices of cryptocurrencies, including market trends, regulations, investor sentiment and news about a project. Bitcoin Bank is designed to collect all this information and analyse it before making lightning-fast predictions on the likely direction Bitcoin's price is likely to go. As reported by many online users and testimonials, this gives the user of the robot an edge and increases the success rates of the trades tremendously.
Bitcoin Bank Founder & Team
Peter Milner reportedly founded Bitcoin Bank. He is a graduate of MIT with a degree in computer science. It was around the early years of Bitcoin when new projects were popping up, with even exchanges being built to facilitate the exchange and trade of these digital assets.
Milner, an early proponent of Bitcoin, wanted to find an easy way to trade the currency without wasting much time on the computer. That's when he teamed up with two other individuals who were well-versed in trading financial markets, and together they built what has become one of the leading trading robots.
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Pros and Cons
Getting started on Bitcoin Bank is relatively easy. It can be done in just three simple steps that we will go over in the section below. Remember, account registration is free, which is incredible, and the whole process takes less than five minutes.
1. Open a Free Account
Visit the official website of Bitcoin Bank and click on open an account. This will lead you to a page where you have to enter your personal information, including name, email address, phone number and location address. Then click on create an account.
2. Make a Deposit
Once signed in, you will be required to deposit to be able to trade. The initial minimum deposit is $250. You will see various payment modes supported for this purpose including credit/debit cards, online bank transfer from your bank account and e-wallets. Therefore, choose the method that best suits your needs.
3. Start Trading
Once the funds hit your account, it's time to trade. But if you are entirely new to trading, it won't hurt trying and practising different strategies using the demo account. You will also need to verify your account by uploading an official ID/driver's license and an official document that confirms your residence. If everything checks out, you are free to use the account.
5 Unique Selling Points of Bitcoin Bank
This section will go over five unique features that have helped Bitcoin Bank stay ahead of its competitors when it comes to automating cryptocurrency trading.
1. Trading Features
Bitcoin Bank has some incredible trading features, including an easy to navigate trading dashboard that is welcoming to beginners and appealing to experienced traders. There is a one-click order execution ability and a search bar for different markets and functions. Additionally, there is a live chat box where any queries you may have about how to go about different functions will be answered immediately by the responsive customer support.
2. Demo Account
As an auto trader, Bitcoin Bank takes away the hard work from trading. This allows people that are new to cryptocurrency trading to participate in crypto markets. But one needs to know how to use the trading robot for maximum efficiency and this is where the demo account comes in handy. Here you can practise different strategies and how to use various functions until you are confident enough to engage in live trading.
3. Success / Win Rate
Reportedly, Bitcoin Bank is built using sophisticated algorithms that help it collect market data, carry out super-fast analysis, and make predictions within a split second. Therefore, it can make many predictions with a high success rate in a manner that is impossible for a human trader to imitate. This unique ability gives it an edge over manual traders and other less reputable trading robots.
4. Cryptocurrencies on Bitcoin Bank
Bitcoin Bank focuses on helping Bitcoin traders make the most of the opportunities availed by the leading digital currency in the world. Bitcoin has the lion's share of the cryptocurrency market, and it's the most traded coin making it highly profitable.
Years of solid results and excellent services rendered mean that Bitcoin Bank has built itself a solid reputation. As reported by online reviews and testimonials, the trading robot stands out from the rest due to its high success rate. It has a huge fan base of satisfied clients. You will find plenty of positive feedback online from past and current users who are happy to recommend the bot to anyone who wants to try crypto trading.
Alternative Cryptocurrency Robots
How to Maximise Your Profits
Trading Bitcoin is very profitable if you have the right strategy. The availability of auto traders like Bitcoin Bank simplifies the process and increases your success rate incredibly. However, to make the most of the bot, there are few things you need to do.
For any investment you venture into, you have to start small. This helps you understand the market and also lets your small investment grow itself over time. You will learn how to trade without being under pressure to perform after you invest a huge sum that you feel you can't afford to lose.
Follow the Advice of Experts
There are plenty of experienced crypto traders out there who have been trading for years and understand how the market works. It doesn't hurt to find a few who you feel you can trust and follow what they have to say. Some have telegram and Twitter channels where they offer tips on different coins. Also, you could find someone that has used auto traders before with success and follow their strategy. Some of these gurus will charge a fee, but you need to avoid paying too much for these tips. However, remember your trading will improve depending on how much you learn and how fast.
Keep a Record for Tax Purposes
Some jurisdictions require traders to file taxes for profits made on crypto trades. This is impossible if you don't keep a record of your trades, and you are likely to have issues with authorities. To stay on the safe side, ensure you keep a detailed history of your activities while trading.
Endorsements & Opinions About Bitcoin Bank
Bitcoin Bank being quite popular, our team checked if it has any significant endorsements from celebrities of top financial shows. Even though there are plenty of celebrities like Nipsey Hussle, 50 Cent and Elon Musk who have spoken in favour of Bitcoin, we couldn't find any evidence of any particular celebrity endorsing this trading robot. However, this does not take away from what a useful auto trader this bot is. The team also checked if the likes of Mad Money and Dragons Den had featured this bot and couldn't find any evidence.
Final Thoughts on Bitcoin Bank: Is It a Legit Option to Make Money?
After some intense research, our team concluded that based on online reviews, feedback and testing the bot, Bitcoin Bank is a legit and safe trading robot, which if used well can help one make money trading BTC without spending crazy hours in front of their computer. Thanks to sophisticated algorithms and smart analytics, this bot can analyse vast amounts of information and make predictions within a split of a second. This offers the users an edge and increases their success rate massively. Also, Bitcoin Bank provides several unique features that give it an edge over other bots; it's highly reliable and has responsive customer support.
No. Even though it does help to have some knowledge of trading. No need to worry as Bitcoin Bank offers a plethora of learning resources that beginners can use to understand how they can trade. Also, there is a demo account that helps you practice different trading strategies before getting started. Finally, there is an excellent customer support team that will guide you along the way.
There is no timeline on when you can make money using Bitcoin Bank. It can be on the first day if you have your strategy right, or it can take a week if you choose to educate yourself on the craft before employing the auto trader's services. However, you don't have to worry since the robot will do the hard work for you.
There is no fixed limit on the amount of money you can make while using this robot. This amount is solely dependent on the amount you invest. The bigger the investment, the higher the amount you can make. However, it is best to start small as investing in cryptocurrencies is risky because of their volatile nature.
Bitcoin Bank is one of the top trading robots available in the market today, with a reported success score of over 98%. This puts it in the top 1% of all trading bots available in the market and makes it one of the most popular choices for many crypto traders worldwide. However, we feel that such a high success rate may not be true for all users as the success rate is also dependent on the experience and the amount of capital a user decides to deploy.
Bitcoin bank allows its users to profit from trading BTC.