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The digital currency market is currently flourishing at an unprecedented rate due to the emergence of trading robots. Many of these trading platforms, including Bitcoin Up, claim that they can guarantee investors an opportunity to start making insane profits every day with ease. But that alone doesn’t say enough for one to tell whether Bitcoin Up is legit.
As has been noted in many instances, the explosion of opportunity in the crypto space also came with its fair share of risks to users. Although the risks involved in trading crypto are not far much different from that of traditional markets, nefarious actors might want to prey on less savvy traders.
This Bitcoin Up review of the auto trading robot provides all the useful information that we trust will help you make the best decision.
Table of Contents
About Bitcoin Up Platform / Software
With the crypto industry now on the path to unprecedented adoption, this bot promises to take advantage of the opportunity to boost the financial success of investors.
As well as automated features, the robot is equipped with the tech capacity to process data from the crypto space at a rate of 0.01 seconds ahead of the market. The bot’s official website says that this data is then relayed to users, with the appropriate information available for traders to open and close at speeds that guarantee winnings.
As far as competition goes, Bitcoin Up claims to be faster than their rival bots as well as manually-executed trades.
Bitcoin Up Founder & Team
It is reported that the International Bitcoin Council founded the Bitcoin Up trading robot. Even though we do not have the real identities of the experts, the trading technology's sophistication and the features that guarantee an exceptional degree of accuracy point to seasoned professionals in computer programming and digital currency trading.
Pros and Cons
For you to sign up and start trading on Bitcoin Up, you should follow these three simple steps:
1. Open a Free Account
Create a free account by filling the sign-up form with your first and last number, email address and telephone number. Once Bitcoin Up has approved your registration, it will assign you a personal broker to guide you through the verification as well as the setup process.
2. Make a Deposit
To activate live trades, you are required to deposit $250 or more. New users may click on the deposit icon and select the preferred payment method. The system instantly processes the deposit but does not charge any deposit fee.
3. Start Trading
After paying the initial deposit, you have access to a trading guide or demo trading. You can use these resources and then move on to trading. The bot will begin to conduct trades automatically once you set it up.
5 Unique Selling Points of Bitcoin Up
1. Trading Features
Affiliated brokers are a feature of robot sites, and while there are many in the market, the platform is said to link its members to just one.
Users should do some due diligence to ensure the expert is verified and to avoid getting ‘paired’ with a shady provider.
Reportedly, the Bitcoin Up algorithm will perform the difficult work of instantly gathering and analysing vast volumes of data and providing useful trading insights. On the other hand, the broker is said to handle monitoring of the trades and setting trading limits to ensure the robot makes the most relevant decisions.
2. Demo Account
One aspect of the bot we confirmed is its demo account, and it offers a new user good foundation on how to use the live account. The basic account is easy to set up and the demo account demonstrates a feel of the live account.
3. Success / Win Rate
The platform claims a win rate of 90%. It is considerably higher in terms of overall win rate, but still lower compared to rival robots that promise up to 99.9% success. We feel real success rates tend to be lower especially for new traders. It is best to not invest large amounts initially as each trading platform has its own learning curve which you must master before experimenting with different strategies.
4. Cryptocurrencies on Bitcoin UP
Bitcoin Up offers CFDs of Bitcoin and offers support for many fiat currencies.
5. Customer Service
Registered users can contact the support team at any time via email, live chat or customer form. The support team has been said to be professional and endeavours to handle the concerns, questions and problems of users promptly. Mostly, once a user has completed the verification process, but before they start live trading, one of the platform's representatives will give you a call. As noted, this is a professional customer service call meant to help users handle any would be concerns as well as to guide on setting up the account and trading.
Alternative Cryptocurrency Robots
How to Maximise Your Profits
Cryptocurrencies are a risky investment but there are some ways to minimise the risks and earn a good profit.
Never invest huge sums of money by getting inspired by news and rumours about the crypto market. Digital currencies can rise and fall rapidly and can drain into your capital quickly. Try to gain experience and learn about trading strategies before putting in large sums of money.
Follow the Advice of Experts
Follow social media channels and other news to gain insights into the world of crypto from experts. Many such investment gurus are active on Twitter and other social media and share their knowledge about trading.
Keep a Record for Tax Purposes
It is always a good habit to keep a record of crypto transactions for the taxman. It is easy to file taxes if you have all information about your trades. Most countries are formulating regulations on crypto taxation but you should try and find out the taxation policy in your country of residence.
Endorsements & Opinions About Bitcoin UP
There are many rumours online about celebrity endorsements of Bitcoin Up and being featured on some of the leading TV shows. Our research found many rumours linking the robot to many celebrities, including Bill Gates and Tom Cruise. However, we could not find a single instance where these celebrities had endorsed the trading robot.
Also, there were rumours that Bitcoin Up had been featured on shows like Dragons’ Den and Shark Tank. After reviewing different episodes of both shows, our team couldn't find any instances of Bitcoin Up being featured on either show. However, the auto trader is effective and efficient at what it does.
Final Thoughts on Bitcoin Up: Is It a Legit Option to Make Money?
For the most part, crypto trading bots have been called scams. While that might not be true, several people have fallen victim to such scams.
If we consider Bitcoin Up, we note that the software was launched in 2014. It is reportedly accessible in over 125 countries, with a growing number of testimonials alluding to its authenticity. But this sort of proven track record does not always mean that success is guaranteed.
The lack of an identifiable team with a human face to it also complicates matters, even though they say the platform is accessible in more than 125 countries.
Reports widely accessible online also show that Bitcoin Up has won the admiration and support of numerous organisations, including winning the Association of Auto-traders' Best Robot Award for four consecutive years.
The robot thus appears more reputable, but it would be best if a potential user were to do their due diligence before ploughing their hard-earned money into trades on the platform.
Frequently Asked Questions
You can complete the registration process in 15 minutes or less. You need to submit the most critical details, including your full name, email address, mobile number and country of residence, on the sign-up form. But if you find an error message during the process, the service is likely not available in your country.
That is what some testimonials posted on the Bitcoin Up website and online purport. This is highly unlikely especially if the user is new to trading. Again, automatically executing cryptocurrency trades, even with a 24/7 process does not equate to the insanely huge amounts advertised. Simply, there is no guarantee that the robot can make you a millionaire in six months. Remember, cryptocurrency prices fluctuate within short durations. Due to the high risk, you can lose your investment, especially if you lack the necessary auto- trading skills.
No, the robot is free to use. The official website indicates that Bitcoin Up charges no hidden costs. Besides, you pay nothing if you want to leverage the services. Nevertheless, users have to pay a small fee to open or close a trade on the broker's site.
To sign up, you should visit the website's home page and fill in your full name, email, and phone numbers, and then click, "REGISTER NOW." Once they verify your account, you add the suitable payment method and then fund your account. If you are fast, you can take only 15 minutes to have your account verified. Moreover, provide your identification documents and bank account before making a withdrawal request. Users pay using credit cards, debit cards and Bitcoin wallets.
No. When trading with the robots, you deal with CFDs. The robot partners with hundreds of regulated brokers who use CFDs to sell cryptocurrencies, meaning they have no right to transfer any actual digital currencies. So, you can only withdraw fiat currencies.