All around the world, traders use trading bots to earn income even when they’re not actively trading. Trading bots change the way the market works. They allow traders to earn passive income and execute many tasks efficiently.
Bitcoin Bank is one of these trading bots. It is a crypto trading robot that uses applied AI technology to automate the difficult parts of trading. Through this, it opens up the market to even more people.
In our review of the tool, we observe how it works, how you can use it, its pros and cons, some things to look at before using it, how legit it is, and how you can start using it.
We can say that Bitcoin Bank is legitimate. After a thorough review of some of its claims and the tool itself, we’ve found that it does seem legit.
If you’re looking to try it out and would like to sign up, you can register using the link below. You can set up your free account in a short time, with the assistance of a Bitcoin Bank manager.
It is an automatic crypto trading bot that makes cryptocurrency trades. Bitcoin Bank is an advanced bot and can execute trades on its own, as long as it has the right instructions. It can also identify trading opportunities in the market and open high-profit probability positions.
The goal of the trading bot is to assist beginners in making profits from trading. The bot does this by handling the technical analysis required to find opportunities and automating the trading process. All this is done using smart algorithms.
The creators and team behind Bitcoin Bank are still unknown right now. There isn’t any information on the website or social networks of the bot and the surface web on them. Rumors are they are former Wall Street traders and hedge fund managers, who perfected their craft trading stocks and forex.
It is said that they stepped into crypto after Bitcoin gained initial popularity, seeing it as an opportunity for gains in the growing market. They decided to commercialize the bot and offer it to the public after evaluating its abilities.
Bitcoin Bank studies crypto market data as variables and finds relationships between them using statistical models and computation driven by AI. The bot also analyzes other market factors that affect price movements, like volume and the relationship between them. Most of the top crypto auto-traders do use this as well.
The bot analyzes and collects both historical and live market data. It uses these to detect possible profit opportunities. It studies historicals first, to discover recurring patterns.
It takes note of the market conditions and events, like economic reports, and how they impact the market. It considers historicals and tracks similar occurrences, and checks if their results are alike. The bot saves them if they are similar, as a possible pattern.
When similar patterns and market conditions are found, it alerts the user of a possible profitable trade opportunity. The user can then choose to execute the trade or not.
The bot uses Contracts for Differences (CFDs) to execute trades if the user chooses to make a trade. CFDs are financial instruments that mirror the price action of underlying assets such as stocks, currency pairs, and cryptos.
CFDs allow traders to open long and short (i.e. buy and sell) positions that would normally be unavailable to retail traders for short selling. They also allow traders to use leverage to boost their position size without needing more capital. We will explain CFDs in more detail in another section.
Bitcoin Bank uses third-party brokers to store funds, execute trade orders, and apply risk management policies. We touch more on this later.
Bitcoin Bank offers new and existing users a demo account to test techniques and strategies before live trading. The demo account uses real historical and live market data, allowing users to experiment and fine-tune strategies and confirm them with live data.
You can get the demo account after registration and making an initial deposit. However, without the initial deposit of $250, you will not be allowed to use the demo account.
The platform has a standby customer service team, accessible by email and live chat. They are always active and can be reached 24/7. While there are also claims of a phone line, our attempts to reach them through the channel proved futile.
Bitcoin Bank works with brokers worldwide to extend its services to users in different geographical regions. The bot is linked to the broker’s trading terminal to access user funds and trade signals. Most of these brokers are registered and regulated by the Cyprus Securities and Exchange Commission (CySEC).
Citing extensive improvements over the years, Bitcoin Bank boasts of an algorithm that is 99% successful. We cannot confirm the accuracy of this claim as it is quite high, even when compared with institutional investors.
At the same time, the algorithm has shown to have enough sophistication to constantly produce profit.
You can make withdrawals in Bitcoin Bank at any time. Withdrawals are made available within 24 hours of filling out the appropriate form and can be made in USD, GBP, or EUR. Deposits can also be made at any time. The platform allows deposits in many major currencies including USD, GBP, and EUR. You can also deposit using payment channels like bank transfers, PayPal, and credit cards.
The platform has a reputation for high payouts. Its return rates are tested and impressive from reports on the app website and reviews online. Given the market data analysis capacity and trading tools, the payouts are plausible. The tool gives investors opportunities to make profits all through the day.
There is a quick and simple verification process. Shortly after you provide identity documents like an International passport or driver’s license, you will be informed about the status of your verification. The bot will notify you whether your verification was successful.
Regulatory requirements and security make it necessary to verify the accounts of all users on the platform.
We used pointers that showed a realistic picture of how Bitcoin Bank’s processes perform in action. We expect this to be a true enough representation of using the bot consistently. A score, from zero to five was given for each category.
KYC is required for all new accounts. To verify your account after registration, you will need to provide ID documents. A driver’s license, utility bill, or bank statement could be used for this. In some regions, you will receive a call from a customer service representative to assist you when you register.
For us, the process was standard. The whole process was completed in around 25 minutes and the platform did not request unnecessary documents.
The platform charges little in terms of fees. Unlike most platforms, it does not charge conventional fees. There are no trading fees or commissions, withdrawal or deposit fees, or software usage license fees.
We had questions and wondered how Bitcoin Bank makes money.
Our current theory is that it can afford to offer services at no charge because it collaborates with brokers. We will discuss spreads in another section.
Brokers affiliated with Bitcoin Bank are established and have a good track record of service delivery. We checked out several of them and discovered they are regulated by the Cyprus Securities and Exchange Commission. This means that your funds are always in a regulated environment.
Do note that we did not check through all the crypto brokers, so you may need to DYOR when choosing a broker during registration.
You will be required to make an initial deposit of at least $250 to start using Bitcoin Bank. You can do this through credit card payments or PayPal, but we recommend credit cards. They are easier, after, and accepted generally, compared to PayPal which is unavailable in some regions. Credit cards may however attract charges from the issuer or credit card company.
The same channels are used in processing withdrawals and there are no limits. You can make withdrawals in most major currencies, but it is usually limited to the currency in which you made deposits. This means you have to withdraw EUR if you deposited in EUR.
A trusted way to evaluate a service is using independent third-party reviews. There are many positive reviews on various platforms that support the credibility of the trading bot.
However, we discovered news of fake reviews. Our independent investigation found that some of Bitcoin Bank’s reviews were from questionable accounts.
Bitcoin Bank provides customer support to users 24/7 through email and live chat. Customer service is available to help you set up your account, and fix any problems you may encounter.
In certain regions, you will get a phone channel after opening an account. This isn’t available in all regions, and we aren’t clear on the basis for its availability.
No single trading bot is perfect, and all bots are subject to fluctuations. That aside, these are some other trading bots that can be compared to Bitcoin Bank
In assessing Bitcoin Bank’s legitimacy, we considered its collaborations, user reviews, and customer service to determine whether it was legit.
The platform has an active customer service team that is reachable 24 hours a day, 7 days a week to assist users. Such an endeavor is resource intensive, requiring a lot of time and money, and usually means a service is legitimate. Scams and illegitimate platforms usually have issues maintaining a customer service team either because they don’t want to, or don’t have the capital to sustain a high level of service.
The reviews about Bitcoin Bank from users and third parties are largely positive. There were some complaints about difficulties using the platform, but the majority of new users were able to understand and use the platform. Several of them also added that they were able to make profits in little time.
We have two reasons why we think Bitcoin Bank is safe.
Firstly, they do not keep funds themselves, on their servers. Instead, their broker partners who have positive precedents in providing high-quality service, and are regulated store user funds. This ensures users’ funds are more often in a regulated environment and under legal jurisdiction.
Secondly, they protect user data by keeping it behind many network and platform firewalls. The platform employs industry-standard SSL certification to provide security. This prevents attackers from accessing user data using the Bitcoin Bank website.
At the time of writing, there are no reports of breaches, hacks, or exploitation of the platform.
Some reasons to use Bitcoin Bank for trading include:
It takes less than a second for the bot to execute orders. It has greater analytical capabilities than a human, processing price data in a few seconds and finding trends and patterns that humans could miss. With the nature of the market, and especially during flash crashes and volatile conditions, this speed is crucial.
The platform does not charge for trading, deposits, withdrawals, licensing, or account maintenance. It provides services at no cost to users. It gets money by adding to the CFD spreads, but these are within industry limits.
The platform’s proprietary algorithm improves trade accuracy by using historical data and computation to make informed predictions. With its ability to access and analyze live data, it can also adapt to changing market conditions.
Bitcoin Bank allows you to test your strategies in a demo account, and calculate possible returns before you start live trading. In addition, you can use strict risk management policies to minimize loss and maximize profit.
The platform is programmed for arbitrage. It studies the price of cryptos in various exchanges to find the cheapest and most expensive. Then, it buys a coin where the price is low and sells where it is high, making gains.
You can take advantage of market inefficiencies that would not be accessible normally due to the sub-second trading ability of the bot. You can give the bot instructions to compare the price of Bitcoin on various exchanges and make profits from any disparities.
The demo account is the best way to get started if you’re using Bitcoin Bank for the first time. It allows you to familiarize yourself with the bot, understand the platform, and try out your strategies in an actual market environment without losing your money.
If you’re new to Bitcoin trading, you should be looking to use the automatic mode rather than immediately opting for manual trades. This mode requires you to state your trade settings and provide limits like a stop loss and take profits limit, which are used to mitigate risk.
Bitcoin Bank does have its drawbacks, like every trading bot. To keep making profits, you must possess a good understanding of how the crypto market works, and its trends.
Rumors, especially on the internet, always accompany popular platforms, and Bitcoin Bank is no different. We verified rumors to ascertain if they were true or not. These are our results.
Dragon’s Den is a British TV show where aspiring entrepreneurs pitch their businesses to a group of investors. Many technology start-ups have been featured on the show, but Bitcoin Bank is not one of them.
The US equivalent of Dragon’s Den, Shark Tank brings entrepreneurs before a panel of investors, and business tycoons to deliver pitches and try to secure financing. The show has seen several start-ups and technology businesses. None of these have been from Bitcoin Bank.
There are rumors that flew around on the internet that the trading bot was endorsed by major celebrities. We undertook the process of fact-checking these rumors, to see if they held water.
Elon Musk is the founder of Tesla and has recently become the CEO of Twitter (now X). He supports cryptocurrencies and advocates for the use of the technology. According to our research, he has neither endorsed nor is affiliated with Bitcoin Bank.
Mark Cuban is a panelist on ABC’s Shark Tank and a popular billionaire. Known to own some NFTs and crypto-based businesses, he has been closely associated with cryptocurrency. He has also advocated for the use, and spoken in favor of NFTs, and is a key figure in the space. Mark Cuban has been associated with crypto projects, but Bitcoin Bank is not one of them from what we found.
One of the richest men alive, Jeff Bezos is the creator behind Amazon. He has given support to cryptocurrencies, especially Bitcoin, in the past. However, he has not shown much interest in starting or supporting any crypto business. Our research concludes he is not affiliated with Bitcoin Bank.
You should take note of the following tips that can help with effective risk management
You might be tempted to reinvest all your earnings back into your account when you’re winning. This is not an advisable trading approach. Instead, you should always set aside a portion of your profits while trading, especially with Bitcoin Bank.
When you do this, if your next trade doesn’t go well, you can keep 50% of your profit and make sure you don’t lose all your funds.
Some of your time should be devoted to understanding the cryptocurrency market. Important events like token unlocks or fresh listings on centralized exchanges can have big effects on the price of cryptocurrencies. Earlier knowledge of cryptocurrencies will put you in a better position to make smart selections.
You can improve your profits by adding your knowledge to your trading plan.
To do well in Bitcoin trading, you need to closely follow industry news and trends. Study what renowned and reliable experts have to say and predict by subscribing to popular crypto blogs. Using this information while creating personalized trading strategies increases your chances of making returns.
Staking your entire portfolio on one trade is a common risky mistake new investors often make. A fundamental rule of trading is to never risk more than you can lose. This way you won’t be in a bad financial position if the trade doesn’t go well.
Keep a record of your trades, including how much you invested and your profits for tax purposes. This is recommended for all traders and investors. The information will show you how much you make from using the platform, and the tax you have to pay. Bear in mind that various countries have different cryptocurrency tax regulations.
Many investors lose discipline and put most or all their savings into trades. This is especially common among new investors. Always consider the possible negative impact of an investment. Whatever you choose to invest shouldn’t put your finances in danger, should it fail to work out. Make judgments using facts and analysis to reduce your risk as much as you can.
Create an account with Bitcoin Bank by navigating to the website and filling out the registration form on the home page. You will be required to provide your email address, phone number, and full name. You should receive an email after signing up to verify and complete your registration.
You need to do two things to finish registration. Using the link provided in the email sent to you, complete your profile by supplying the requested information. Upload a government-issued ID and a utility or any other proof of address document to complete KYC. After this, select a broker that operates in your area from a list that will be displayed. Sign up for an account using the steps provided.
These are metrics that help organize your bot trading and analysis efforts. You can make them simple or complex, based on your preferences. A trading strategy can be as simple as setting an entry price, an exit price, and a stop loss.
You can practice trading in the demo account completely risk-free. You can test out your strategies since the demo is based on live and historical market data. As a market simulation, it allows you to know which strategies are more likely to work in a live account.
When you’ve explored enough in the demo mode, you can deposit funds to use a live account. You can make deposits in USD, GBP, and EUR using credit cards, wire transfers, and PayPal on Bitcoin Bank. Deposits go to your broker and not Bitcoin Bank, so you may want to check what other deposit channels are available with your broker.
You can do this by simply enabling auto mode after setting up your trading strategy. After this, the bot works to implement your strategy without needing further human input or supervision.
Bitcoin CFDs are traded exclusively on Bitcoin Bank. However, it combines Bitcoin with major currencies like USD, GBP, and EUR to provide many BTC markets for trading.
CFDs don’t involve actually buying or selling the underlying assets (i.e. Bitcoin). Instead, you are given a contract that pays the difference between the opening and closing price to whoever predicts the price movement accurately.
To illustrate this, if you opened a $250 Bitcoin-long trade at $16,000, you would make a $15.62 gain if the price rose to $17,000. If the price instead fell to $15,000, you would make a $15.62 loss.
You can also use leverage facilities with CFDs. Leverage facilities allow traders to increase the size of their positions without investing more capital.
If you wanted to, for example, take a $500 Bitcoin position, but your capital is $50 only, you can take a 10x leverage. This means you borrow $450 from your broker, which you can then use to open the position.
Leverage comes with significant risks, as if the trade doesn’t go well, you could lose a lot of, if not all, your capital.
Leverage facilities on Bitcoin Bank go up to 1000:1. This means traders can access capital and positions up to 1000 times their deposit. If you put in $100, you can access positions worth up to $100,000. This leverage is quite high, and may not be available in some regions, including the United States.
100:1 or thereabout is usually the industry standard for leverage facilities. This is relatively lower in risk and more manageable than higher levels. A point of note is to avoid using more than 1:500 leverage, particularly with lower capital.
As a beginner looking to use leverage, use the $250 minimum deposit, and trade small sizes. You can also opt for a broker that offers smaller trade sizes, like a nano lot (100 units) rather than a micro lot (1000 units).
In some cases, this is not available, and so you should use a tight stop loss and effective risk management policies.
The spreads added to CFD pairs aren’t stated on the Bitcoin Bank website. However, we think they will not have long-term negative impacts on the cost of trading and fall within industry limits. However, to make profits, the broker may also add spreads to the pairs.
Bitcoin Bank is a complex trading bot that allows users to automate the process of trading Bitcoin CFDs. It uses a specially crafted algorithm to find opportunities to make a profit. With the bot, users can make semi-passive income with little input and oversight.
The bot also possesses excellent ability for arbitrage trading. You can buy Bitcoin at a cheaper price from one broker and sell on an exchange where it is more expensive in a short period. This minimizes risks associated with trading, as users profit from established pricing and can predict profits instead of relying on crypto price movements.
It is easy to use, with a friendly AI, which makes it a good pick for beginners and new traders. It is easy to navigate, uses simple and descriptive language and icons and its processes are all right. Withdrawals are processed within 24 hours of request and filling the form, and there is a standby customer service available 24/7 by email and online forms.
Note that, before you start trading, you should use the demo mode so you can learn how to trade and how to use the platform properly. When you’re done with the demo mode, you can use the automatic trading mode if you are a beginner. If you already have experience with trading, you can go ahead to use advanced trading strategies and techniques.
Fill out the registration form available on the home page, complete KYC, and make a deposit to open an account with Bitcoin Bank.
Our reviews on crypto bots are done by researching tests, reviews, and testimonies all over the Internet. This allows us to present a balanced view that covers multiple perspectives. Check out our Why Trust Us and How We Test pages for more details on our testing process.
We take into account that there are many false testimonies across the web: many purported trading robots available are scams. Because of this, we consider it important to compare information from across the internet in our Bitcoin Bank review.