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This Bitcoin Profit review is focused on establishing if the crypto trading bot is a safe and legitimate auto trader for the crypto community. This is why our dedicated team of researchers invested some time and money to interact with various aspects of the bot to offer an honest account of the robot.
The review will touch on the technology behind the bot, the founding team, signing up, depositing, trading and even making withdrawals to determine if this bot is everything it has been claimed to be by past users.
About Bitcoin Profit Platform / Software
The first thing our research team does when conducting such a review is access the project whitepaper and going through it. The devil is in the details, as they say, and by going through the document, you can get a lot of information. After reading the whitepaper, the team realised Bitcoin Profit uses sophisticated algorithms that can collect vast cryptocurrency market data relevant to Bitcoin (BTC), analyse it and make predictions on the likely direction the price is expected to take. This information is used to place trades on behalf of the bot user, thereby increasing their success chances.
Bitcoin Profit Founder & Team
James Roberts is reportedly the brains behind Bitcoin Profit. Before joining the cryptocurrency world, the man had made a name for himself in the traditional financial markets as an analyst. He was reportedly drawn to cryptocurrencies and the blockchain after witnessing the 2008 financial meltdown and its effects on people. Around that time, Bitcoin was launched as a peer-to-peer cryptocurrency that allowed two entities to exchange value electronically. What proved most impressive to him was the freedom the new currency gave people over their money and the fact that any single entity didn’t control it.
Pros and Cons
1. Open a Free Account
Starting on Bitcoin Profit is simple and easy. Visit the auto trader’s official website and sign up by providing your personal information like name, phone number, email address and setting a strong password. The next step will require additional information like your residence address and past trading experience. This process should take you less than five minutes.
2. Make a Deposit
During testing, our team was referred to a regulated broker whose responsibility is to guide you on making the deposit. You will receive a phone call, and a member of the customer support will help you make the initial deposit of $250. Depending on the time you sign up, this phone call could delay, but don’t worry since you will be presented with different modes to fund your account, including bank/wire transfer, e-wallets and debit/credit cards. The process is straightforward and shouldn’t prove a challenge.
3. Start Trading
The funds should reflect in your Bitcoin Profit account in no time. But, if there is a delay, don’t panic since different payment modes have varying processing times. Before you can live trade, you will have to verify your identity by uploading a picture of your official ID and a utility bill like a lease agreement that clearly shows your official names and residence address. The documents will be reviewed, and if everything is ok, your account will be approved. Then you will be taken to the trading dashboard where you can access different markets, set strategies and permit the robot to conduct the trades for you.
5 Unique Selling Points of Bitcoin Profit
Bitcoin Profit boasts a few outstanding features that help it stand out from the rest. Below are some of those our research team found most impressive.
1. Trading Features
Bitcoin Profit boasts many trading features that stand out from the start, including an easy to navigate trading dashboard where everything is clearly marked. The markets are on the left side, and there is a search bar to aid with accessing whichever pair you would like to trade. The charts are displayed at the top centre, and the order execution functions are on the right. Then there is the buy, sell and stop losses, which are all well defined and easy to use.
2. Demo Account
Another incredible thing with this auto trader is the availability of a demo account that can be accessed from the trading dashboard. This account is crucial as it helps one familiarise themselves with the bot. Here you learn how to set and test different strategies before live trading.
3. Success / Win Rate
The Bitcoin Profit website claims this robot has a very high success rate on trades placed. They claim for every ten trades you place; you are likely to win with at least nine of them. Reportedly, that translates to around 90% success rate and makes the bot one of the leading Bitcoin auto traders in the market.
4. Cryptocurrencies on Bitcoin Profit
Our team found out that this bot supports Bitcoin trading only. This isn’t difficult to deduce from the name of the robot.
To stay ahead of other auto traders, this robot has built a dedicated community of developers and fans who are very engaged in its code improvement by offering suggestions. The bot regularly communicates with its community on any new developments, which has helped create trust and solidify its reputation. Most importantly, it always delivers efficient services to its users.
Other Cryptocurrency Robots
How to Maximise Your Profits
So far, Bitcoin Profit looks like a decent auto trader based on our findings. Below, let’s explore a few tips that can help you make the most of the bot.
Trading robots exist for two reasons; helping individuals make profits and learning to trade as they make money. This is why it’s essential to start small, preferably with the minimum deposit, and then grow your account as your trading improves with time through continuous learning.
Keep a Record for Tax Purposes
If you are a resident of the United States of America, the IRS will require you to file taxes for all profits realised from trading cryptocurrencies. It’s the same case in many other countries, and these rules are catching up fast around the globe. To be on the safe side, ensure you keep neat records of all trades you place on the robot.
Only Invest What You Can Afford to Lose
Many individuals claim this is the golden rule of investment for the simple fact that any type of investment carries some risk. There are no 100% guarantees that’s why even a sophisticated auto trader like Bitcoin profit can only offer a 90% success rate. Therefore, don’t let greed mislead you.
Endorsements & Opinions About Bitcoin Profit
There are plenty of rumours about Bitcoin Profit online since it’s a popular Bitcoin bot. Some interesting ones include the bot being endorsed by several celebrities and even featured on popular financial tv shows. After doing some digging on published celebrity statements, our team could not find a single instance where any notable celebrity endorsed the robot.
They also invested time to review different seasons of shows like Billions, Shark Tank, and Dragons Den; however, they couldn’t find any episode where the robot had appeared on the shows. But, this doesn’t make Bitcoin Profit any less impressive, according to our research.
Final Thoughts on Bitcoin Profit: Is It a Legit Option to Make Money?
Bitcoin Profit is reportedly a legit and safe auto trader suitable for all BTC traders who would love to ease the trading burden and increase their success rate. Our team found the bot to be safe and easy to use. Everything went smoothly from the signup to making deposits, using the demo account, carrying out actual trades and even making withdrawals. They were quite impressed by the customer service team, which was always on hand to help out with any issues.
Frequently Asked Questions
The initial deposit is set at $250, but you can fund even a higher amount depending on your trading goals.
Yes. The trader allows its users to make withdrawals at any given time, and all requests are processed within 24 hours.
A responsive customer support team is always available via a live chatbox on your trading dashboard. Also, you can make a phone call or even write to them using email.
Yes. This robot uses cryptographic encryptions to secure its website, meaning that user funds are secured at all times from bad actors.
No. Since Bitcoin Profit is an auto-trader, it’s easy to use for everyone.