We are aware of numerous websites which use false celebrity endorsements to send customers to unregulated brokers or call centers. Our website will only send customers to partners who have provided us with the required regulatory assurances. This is a marketing offer and our regulated partners will indicate what services they have available upon registration.
After we came across numerous rave reviews of this auto trader doing rounds across the internet, we had to investigate whether there was any legitimacy to the claims. First of all, we checked what past users had to say about the platform and found only favourable comments. Then we checked if the platform was under the watch of any authoritative body and found out that it was associated with several regulated brokers who helped offer its services in different corners of the planet.
Finally, we signed up to experience the platform for ourselves. The process was smooth and straightforward. And where we got stuck, the customer support team was on hand to help out.
Table of Contents
About Bitcoin Madrid Platform / Software
Bitcoin Madrid is an automated cryptocurrency trading robot that uses sophisticated algorithms and predictive technology to analyse vast market data, decipher it, make predictions on the likely direction the price of different cryptocurrencies will take, and place trades on behalf of the user. The bot integrates with machine learning, allowing it to learn as it trades, thus becoming more efficient over time.
Bitcoin Madrid Founder & Team
It’s easy to tell the origins of this bot based on its name. It was reportedly created by a bunch of IT students based in the Spanish capital of Madrid. As per the site, these students met at Charles III University of Madrid and shared an interest in the emerging cryptocurrency market. Some were active crypto market traders as they sought a way to earn some cash while studying, while others were enrolled in software development classes. They teamed up to develop a bot that would allow them to make the most of the cryptocurrency market and help others trade these digital assets with ease.
Pros and Cons
1. Open a Free Account
The first step is opening an account by visiting the official website of Bitcoin Madrid. The process is free and doesn’t consume much time. Enter a user name, email address, phone number and set a strong password. The next page will require additional details such as your official name, trading experience and occupation.
2. Make a Deposit
You will be redirected to a reputable broker that operates within your jurisdiction. Since the auto trader deals with money, it must abide by numerous KYC and AML regulations. Therefore, it teams up with regulated brokers in different corners of the globe to provide its services. You will be taken to a page where you can make the initial minimum deposit of $250 using various payment modes supported.
3. Start Trading
When the funds reflect in your account, it’s time to trade. However, if you are new to crypto trading, visit the demo account and learn how to use the robot effectively. Practice until you feel confident enough to conduct actual trades, then proceed to the trading dashboard, where you will set up your strategies and leave the bot to do the rest for you.
5 Unique Selling Points of Bitcoin Madrid
Below are five unique features we found about this auto trader that makes it quite appealing to many cryptocurrency traders.
1. Trading Features
The bot is designed in a simplistic and easy-to-use manner, with the trading dashboard quite appealing to the eyes. Various functions are well labelled with charts, markets, and order books organised decently. The website is quite responsive, with a fast response to inputs. Also, you can trade the spot market or move to the derivatives market, where you get to trade CFDs using leverage for potentially higher profits.
2. Demo Account
There is a demo account where both beginners and experienced traders can practice setting strategies and testing them out. Here you will be offered $100,000 in “virtual money” which you can use to trade a simulation of the actual crypto market under normal conditions. The demo account is crucial for learning how to make the best use of the robot, thereby increasing your profitability.
3. Success / Win Rate
According to the Bitcoin Madrid website, this bot has a success rate of over 95%. This appears to be on the higher side and new users must practise with the demo account and gain some experience before committing higher capital.
4. Cryptocurrencies on Bitcoin Madrid
Bitcoin Madrid supports numerous cryptocurrencies. Currently, it’s possible to trade over 300 altcoins using the robot. It’s the reason why this auto trader is quite popular within crypto circles, unlike most bots that focus on trading a single coin.
5. Fast Payouts
Another incredible thing that we noticed with this bot is that it supported fast payouts. The winnings would reflect on our account once our trading positions had closed and the funds were available to be withdrawn whenever you wanted to, with all requests processed within 24 hours.
Other Cryptocurrency Robots
How to Maximise Your Profits
Below are three vital steps that will help you maximise your profits when using Bitcoin Madrid.
It’s wise to start small and watch as your portfolio grows over time. This goes for beginner traders who might be tempted to invest more than they can afford to lose. However, you need to understand that if things don’t go as planned, you will lose all your investment.
Save Some Profits
Don’t be too greedy to invest back all your profits into trades in hopes of even making bigger returns. Ask yourself what happens if everything doesn’t go as planned. It’s wise to set aside a small portion of your profits which can be used to sort your outside bills and even tapped into during rainy days.
Keep a Record for Tax Purposes
Some tax authorities, such as the IRS, are increasingly keeping tabs on crypto traders, and they want a piece of your earnings. They require all traders to file taxes on crypto trades, and this isn’t possible if you don't keep a detailed record of all your trading activity. Therefore, ensure you keep good records to avoid a run in with the taxman.
Endorsements and Opinions about Bitcoin Madrid
During our research, we came across numerous rumours that claimed Bitcoin Madrid had appeared on various financial shows such as Shark Tank and Dragons Den. We reviewed several episodes of both shows to see if there was any truth to this rumour; however, we couldn’t find any part where the bot appeared on the shows.
Another rumour that we came across was that various celebrities had endorsed the bot. The three common names included Lebron James, Jackie Chan and Jack Ma. We researched online for past statements in interviews, and social media account posts to find if there was any truth to this matter but couldn’t find any particular incident where one of these celebrities mentioned Bitcoin Madrid. This, however, doesn’t take away from the efficiency of this auto trader.
Final Thoughts on Bitcoin Madrid: Is it a legit option to make money?
Based on online reviews and user testimonials, we found that Bitcoin Madrid was everything it was taunted to be, with many past users quite grateful for the opportunities the bot had created for them. The robot has a dedicated team of developers who keep updating its features to maintain its high-performance rate. From the signup process to funding the account to the actual trading, everything flows smoothly, and there is a responsive customer support team to help out whenever you get stuck. However, cryptocurrencies are a volatile investment instrument and new users must learn risk management before trading.
Frequently Asked Questions
For beginner traders, you should start with the initial minimum deposit of $250.
No. Don’t let the name misguide you. You can access Bitcoin and other top cryptocurrencies on this platform.
By using the demo account that is free and accessible to all users.
This depends on how much you invest and how many trades you are conducting within a given period.
Not much since it’s an automated trader. Only a few minutes to tweak your strategies, and you are good to go.