Bitcoin Trader Review 2021 - Is It Safe & Legit?
Bitcoin Trader is a legitimate crypto trading software created to help people trade Bitcoin. Bitcoin trading is a lot simpler today than what it used to be like, a few years back. However, there are still many newcomers to the industry, who continue to join on a daily basis.
Naturally, they lack experience in dealing with cryptocurrencies, but more than that, many also lack the emotionless approach, especially when they manage to complete a few trades and see minor profits.
Bitcoin trading robots, such as Bitcoin Trader, are there to help crypto traders earn with lowered risks, as the robot does everything on its own by following a set of instructions that the trader will provide upfront.
By observing the robot and how it reacts to the market changes, traders will be able to earn money and experience alike.
Table of Contents
About Bitcoin Trader Platform / Software
Bitcoin Trader's platform is reportedly very simple for everyone to use, which is intentional since it targets new users. It would hardly be beneficial for users to replace complicated exchanges for equally complicated robots.
The platform reportedly uses a powerful software which is powered by a groundbreaking algorithm with extremely high accuracy level. Furthermore, the platform reportedly does not charge any fee for its use—it is completely free.
Bitcoin Trader Founder & Team
Bitcoin Trader was reportedly created by a team of developers and traders who saw the difficulties that new traders have when they join the crypto industry. Many of these new traders end up abandoning the crypto world as they receive no guidance on how to trade and what to watch out for.
In the interest of attracting new users and pushing adoption, the team reportedly created free auto trading software for successful cryptocurrency trades, which does pretty much all of the work.
Register now with Bitcoin Trader!
Pros and Cons
Bitcoin trader is very simple to use, and in order to get you started, we decided to create this short and simple guide. There are only three main steps that you need to follow to be ready to start trading with the pros.
1. Open a Free Account
As always, to access any trading bot, you need an account. We mentioned before that using Bitcoin Trader is completely free, so you don't have to invest in the actual software to get started. Simply head over to Bitcoin Trader's website, fill out the short form that needs your name, email, phone, and password, and after verifying your email, you will be ready to start.
2. Make a Deposit
After you have created your account, you will have to deposit some money. This will be the initial investment that the bot will use to start trading on your behalf. Now, as you may know, many other bots require you to deposit significant sums, which is also something that tends to discourage new traders from using them. Bitcoin Trader only needs you to deposit $250 to get started.
3. Start Trading
With an account in your possession and money deposited, you are almost ready to start trading. The last thing you need to do is set up trading parameters that will guide your bot's actions. That includes deciding on the stop-loss level, choosing which coins to trade and how much money you wish to enter the trade with. All things that you can set up in a matter of minutes, although we recommend researching to find out how to set up these parameters properly, as this is the most important step. Once you do that, you can click on Live Trading and get started.
5 Unique Selling Points of Bitcoin Trader
Bitcoin Trader has many beneficial features, so allow us to list a few of them, and hopefully, explain why this is such a great and underrated bot.
1. Trading Features
First things first—let's talk about trading features. Bitcoin Trader reportedly uses a powerful software that uses an advanced algorithm to gather information from the market, analyse the state the market is in, and calculate different possibilities and predictions regarding Bitcoin's price. Then, when it decides that there is a high chance of the price moving in a way that will earn you money, it executes trades on your behalf.
2. Demo Account
Demo Account is a popular feature that is useful to experts and novices alike. It allows you to trade in a simulated market. This is great for practising trading with a bot and testing out new strategies and approaches to the industry. With a demo account, you can learn how to trade without exposing yourself to common risks and potentially losing money, so definitely use it.
3. Success / Win Rate
The success rate is the probability of the bot completing a trade with beneficial results. Basically, the higher the percentage, the better the odds of the bot earning money on your behalf. Based on online reviews and user testimonials, the bot's success rate is reportedly as high as 99.4%, although some reports say that it is somewhat lower, at 85%. Regardless of which of these figures you believe, both of them are quite high. Trading in cryptocurrencies carries a bit more risk, but it is something that you can never eliminate when it comes to crypto trading. It’s best to start with a smaller investment initially and gain experience.
4. Cryptocurrencies on Bitcoin Trader
Bitcoin Trader, as the name suggests, offers Bitcoin trading. However, the bot also supports several other coins including Ethereum, Ripple, Bitcoin Cash, Litecoin, Monero and Dash. In the end, it is up to you which coins to choose, but we are glad to see a bot that goes beyond just Bitcoin and Ethereum,
Bitcoin Trader also has excellent customer support, which is available 24/7. This is important, as new traders often have questions, or may require help with their trades, bot, deposits, withdrawals or a number of other aspects. Not that anything is particularly complicated, but most of the time, things can be intimidating for novices when they are at their very beginning.
Alternative Cryptocurrency Robots
How to Maximise Your Profits
Apart from setting up your trading bot properly, there are other ways for you to maximise profits. For example, remember to:
Save Some Profits
Earning from crypto trading has a certain allure to it, as you can earn significant amounts of money with only a few clicks, or even less than that when you use a trading bot. However, you should not just withdraw all of the money you earn, nor use it for further trades. The best thing would be to withdraw some of it for use, leave some of it for trading, and set some of it aside as savings.
Keep a Record for Tax Purposes
Another thing to note is that you must keep a detailed record of your trades for tax purposes. Depending on where you live, your country may have different tax regulations for crypto earnings. It will be extremely difficult to file taxes accurately if you don't keep track of your transactions as you make them.
Lastly, remember that you should start small when starting your trades. Trading is complex, and you might need some time to get things right. Until then, you may even experience losses as your first trades. Do not risk large amounts of money just because they will make your rewards larger. Start small until you get a hand of trading with or without a bot, so that your initial mistakes do not end up being too costly.
Endorsements & Opinions About Bitcoin Trader
Through your research of Bitcoin Trader, you might encounter claims that this bot is a scam. According to our research, reviews and testimonials, these claims are not correct.
While the claims of users making large profits per day seem to be exaggerated but the bot offers traders an opportunity to trade crypto in an automated manner.
However, when it comes to its software alone, many online reviews and user testimonials have reported that it is legitimate and functional.
Cryptocurrency trading is risky so do not invest more than what you can afford to lose.
Final Thoughts on Bitcoin Trader: Is It a Legit Option to Make Money?
Yes, as far as online reviews suggest, this is a competent and legitimate software for making money. It might be using a too aggressive approach to marketing but the software itself functions without error.
Keep in mind that the levels of success in trading crypto will depend on the amount of capital deployed and the experience level of the trader. Use the demo account and be careful whenever you go for live trading.
Frequently asked questions
With Bitcoin Trader doing most of the trading itself, you do not need to do much at all. Reportedly, most users take 15-20 minutes per day to check if the parameters are working well and if there is a need to change anything.
We did not ask the customer support about this directly, although we believe that making multiple accounts is not something that you should do. It is likely that the system itself will not let you make more than one.
Yes, reportedly, you can create an account and start trading right away without paying any hidden fees.
This depends on several factors. Your earnings will be impacted by the amount of money you use, the accuracy of parameters that you set and even by the market conditions. If the prices move only by little, your earnings will be much lower than when large price leaps happen.
When you earn money from trading, you can withdraw it at any time of day and night. There are no restrictions here, and the only question is how long will it take it to reach your bank account. You might have to wait a day or two, but likely not more than that.