Bitcoin Prime Review 2023 - Is It Legit or a Scam?
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The Bitcoin Prime software is a sophisticated auto-trading robot developed to trade Bitcoin and a few other cryptocurrencies. The developers claim that it is one of the most advanced trading robots available in the crypt market, and it works using advanced Artificial Intelligence algorithms.
However, a trader should exercise caution as the cryptocurrency market is highly volatile. The crypto market is characterised by massive price movements, both upwards or downwards, within a short period, hence, making it tough for some people to trade Bitcoin. The Bitcoin Prime software claims that its accurate algorithms can help traders to trade with precision and earn profits.
About Bitcoin Prime Platform / Software
The Bitcoin Prime app is a cryptocurrency trading robot launched in 2016. The Bitcoin prime developers claim it is one of the few top-performing Bitcoin (BTC) trading robots available to the public for free. The developers created the Bitcoin Prime app keeping in mind the trading needs of retail users. These are people who want to gain financial freedom by making money via cryptocurrency trading and investment but don’t have access to specialised tools and trading software.
Reportedly, the team's belief in decentralised systems and Bitcoin fueled their passion and helped them to develop the software. They were further encouraged by the massive growth recorded by the cryptocurrency market both in terms of value and acceptance by people as a medium of exchange and financial assets.
Bitcoin Prime claims to be the perfect platform for users looking to invest in Bitcoin. This trading app is said to offer a simple and unique way for anyone to make money via Bitcoin without going through the tedious process of buying it from exchanges and storing it in a wallet.
With a claimed daily profitability rate of over 60%, Bitcoin Prime claims to generate massive profits for its users daily.
Bitcoin Prime doesn't manage and execute transactions by itself. It has outsourced this job to reputable and regulated brokers with decades of experience in the market. Some of these brokers are regulated by financial agencies such as the UK Financial Conduct Authority (FCA), Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). This is to ensure that the users' funds remain safe in case something happens.
With a starting capital of $250, Bitcoin Prime claims it can generate up to $1,500 in profits per day but we feel that this is an unrealistic amount unless you have a great deal of experience and higher trading capital. The Bitcoin Prime app is allegedly powered by Machine Learning, Blockchain, Natural Language Processing, Artificial Intelligence and Deep Learning.
In addition to Bitcoin, the Bitcoin Prime app also allows trading in other cryptos such as Ethereum (ETH), Litecoin (LTC), EOS and Bitcoin Cash (BCH). It also trades CFDs for currencies like the USD, GBP and EUR.
Founder and Team
Steve McKay is reportedly the head of the team and the founder of the Bitcoin Prime Robot. Along with his team which comprised of experts and cryptocurrency trading veterans, he began working on the software in 2016. Reportedly, McKay is a former Wall Street trader with a decade of experience with big investment banks.
The founder and his team spent three years developing an algorithm they believe would help ordinary people trade cryptocurrencies like a pro-trader and earn profits in the process. McKay claims the algorithm is especially based on banks' secret strategies to earn millions of dollars in profits from the financial markets.
The app has spent the last year in a beta testing phase, and the developers claim it has proven to be highly profitable. Hence, the reason why they made it available to the public for free at the moment.
Pros and Cons
Pros
Cons
Auto Trading Guide
To trade with the Bitcoin Prime app, follow these steps:
STEP 1: Signup for a Free Account
To trade cryptocurrencies with the Bitcoin Prime app, you need to register for a free account. Visit the Bitcoin Prime official website and complete the short application form located at the top. Make sure the Bitcoin Prime details you provide are accurate before submitting the form. Verify your ID after Bitcoin Prime activates your trading account.
STEP 2: Fund the account
The deposited funds allow Bitcoin Prime to trade for you. The minimum deposit sum is $250. After funding the trading account, the Bitcoin Prime app has all it needs to start opening and closing positions in the market on your behalf.
STEP 3: Start Trading
Finally, funding the Bitcoin Prime account is followed by the app trading BTC and other cryptocurrencies for you. It prompts you to choose your preferred trading parameters after you have activated the auto-trading feature. The Bitcoin Prime app will supposedly start analysing the markets, trading the assets and generating profits for you.
5 Unique Selling Points of Bitcoin Prime
Here, we will review the top-selling points of the Bitcoin Prime robot. These features make the Bitcoin Prime app unique.
1. Trading features
According to the Bitcoin Prime official website, the app provides manual and automated trading options. This means that the Bitcoin Prime app conducts the market analysis on behalf of the user. In the case of the automated trading option, the app goes further to execute the trades on behalf of the user. However, the app also allows using the manual trading mode, where a user is allowed more control on various parameters that govern the robot.
2. Demo Account
The demo account on Bitcoin Prime allows a user to learn how the app works before trading with real money. It also allows a trader to test the advanced algorithm using virtual funds. A trader can see how the advanced algorithm performs since it is tested against real-market price action. Overall, the Bitcoin Prime demo account allows a user to discover new trading strategies that could potentially boost trading results.
3. Success / Win Rate
The Bitcoin Prime app claims to have a success rate of 95%, adding that the users report profitability of up to 60%. A key reason for this could be the automated trading option available as it allows the software to gather more data and analyse them faster than a manual trader. The Bitcoin Prime app most likely combs through a vast amount of data to help it carry out a quick technical and fundamental analysis. However, a new trader should start with a small amount at first and gain experience before committing huge amounts of capital as cryptocurrency trading is a risky activity.
4. Cryptocurrencies on Bitcoin Prime
Bitcoin is the dominant cryptocurrency traded on the Bitcoin Prime app. However, the software doesn't limit itself to the leading cryptocurrencies. It also trades a few other cryptos, including Litecoin (LTC), EOS, Ethereum (ETH), XRP, Monero (XMR), Bitcoin Cash (BCH) and Dash (DASH). The extra cryptocurrencies available means that traders could potentially enjoy more profit due to higher market liquidity.
5. App customisation
Similar to the other trading robots, Bitcoin Prime allows users to customise their app. Users can choose from the various trading parameters available to them, allowing them to set the app to align with their trading goals and risk level. The newbie traders can use the automated trading option and set the level of automation they want. Meanwhile, expert traders have the option to tweak manual trading mode to their satisfaction.
Other Cryptocurrency Robots
How to Maximise Your Profits
You can take some specific steps to potentially increase your profit when trading cryptocurrencies with the Bitcoin Prime app. Some of these recommended steps are:
Start small
It is recommended to start trading with the app using a small deposit of $250. Bitcoin Prime allows you to deposit more than that, but it is best to start small and expand your trading capital and profit expectations as you gain experience.
Save some profits
After trying out Bitcoin Prime and generating some profits, the smart move would be to save some of the profits and reinvest it into the system. This can help to increase a user’s working capital with ease.
Only invest what you can lose
Similar to other financial assets, you should invest only what you can afford to lose. The highly volatile nature of cryptos makes them high-risk assets and could sometimes result in massive losses.
Endorsements and Opinions about Bitcoin Prime
Several reports online and social media rumours are linking the Bitcoin Prime app to popular TV shows and certain celebrities. According to these reports, Bitcoin Prime developers have appeared on popular TV shows, including the famous Shark Tank (US) and Dragons Den (UK) shows. Popular figures like Elon Musk, Richard Branson and Kate Garraway are rumoured to be investors of the Bitcoin Prime platform. However, the developers have debunked all such rumours as false. However, that doesn't mean that Bitcoin Prime isn't a legit auto-trading software. Several products have thrived without outside investment or celebrity endorsement.
Final Thoughts on Bitcoin Prime: Is it a legit option to make money?
The Bitcoin Prime software is reportedly a top automated trading robot designed to trade Bitcoin and a host of other cryptocurrencies. The software claims it conducts market analysis for the traders and trades the cryptocurrencies in an automated manner for those who choose the automated trading option. The manual trading option is also available to the more experienced traders. Bitcoin Prime app is easily customisable, offers demo trading accounts and provides other perks to traders. However, trading cryptocurrencies comes with its risks. The market is highly volatile, and you can either make massive profits or record huge losses. Thus, we recommend learning the cryptocurrency basics before trading them to increase your chances of earning profits.
Alternative Crypto Robots
Frequently Asked Questions
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At the moment, trading cryptocurrencies with the Bitcoin Prime app is free. The developers didn't attach any registration or trading fees to the software. However, they are thinking of introducing a license fee soon.
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The numerous reports online so far suggest that it could be a legit and safe auto-trading software. The Bitcoin Prime app claims it works with regulated brokers to ensure user funds are always safe and secure.
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According to the official website, the Bitcoin Prime platform has mobile trading apps for Android and iOS users. The apps are available only to the platform's registered members.
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There are no reports to suggest the Bitcoin Prime is a scam at the moment. Several users claimed they had earned massive profits trading cryptocurrency with the app. We haven't tested the app yet, but the positive reviews and comments support the security and legitimacy of the app.
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The developers claim that Bitcoin Prime has a winning rate of 95%. This means that over 95% of its signals usually result in profits. The platform also claims its users enjoy a profitability rate of more than 60%. However, it will be difficult to replicate such rates unless you have a great deal of experience and higher trading capital.