Bitcoin Prime Review 2022 - Honest Review by Trader

Bitcoin Prime
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Bitcoin Prime is a crypto trading bot that automatically buys and sells bitcoin on behalf of its users. Once set up, its AI-powered software executes trading strategies without human intervention.

Traders globally view trading bots as a way to transform trading into a passive income stream.

Our Bitcoin Prime review dives into the trading bot, how to use it, its pros and cons, factors to consider before using it, whether or not it is legit, and how to get started.

Bitcoin Prime Summary

Minimum Deposit

$250 or €250

Fees and Commission

2% levied on profitable accounts

Claimed Success Rate

90%

Supported Cryptocurrencies

Over 70 CFD pairs (only CFDs)

Deposit and Withdrawal Fees 

No deposit fees, up to 10 free withdrawals per month

Trading Platform

Desktop

Demo Account

Yes, demo mode

Verification

Yes. ID and proof of address

Regulations

Cyprus Securities Exchange Commission (CySEC)

Table of Contents

What Is Bitcoin Prime?

Bitcoin Prime is a trading bot that has reportedly ensured free and convenient cryptocurrency trading for thousands of amateur investors and seasoned professionals.

It is powered by an AI algorithm that studies price patterns, monitors news trends, predicts the best buy and sell times, and executes sub-second trades that benefit from price changes.

The bot works with regulated brokers to enforce stop losses and take profit levels, and access user funds. Once set up, Bitcoin Prime will run in the background unencumbered, making trading a semi-passive income stream.

Who Created Bitcoin Prime?

Bitcoin Prime is reportedly created by former Wall Street traders with more than 10 years of experience trading for major financial institutions and in various financial markets.

For the last 3 years, they has optimised the algorithm behind the Bitcoin Prime app to enable everyone to invest in cryptocurrencies like a professional trader. According to the team, the algorithm is based on secret strategies used by financial institutions to earn billions of dollars in profits.

When Bitcoin Prime first launched, it was in the beta testing phase for almost 12 months. After its reported success across the globe, the final consumer version launched and has attracted thousands of users in the last few years, helping them to generate a secondary income and ensure their financial independence.

How Does Bitcoin Prime Work?

Bitcoin Prime uses machine learning algorithms to study large price data sets and spot recurring patterns and trends. When it locks on to a certain pattern, it will execute winning trades when the pattern repeats itself.

The trading bot connects to a third-party broker and relays trade instructions via their trading terminal. For example, at an appropriate price point, the bot will send instructions to the broker to buy BTC and send another to sell when the price has appreciated to a predetermined level.

If the trade is profitable, and it is 90% of the time according to most third-party reviews, a 2% commission is levied on the profits made. If not, no charge is applied.

To ensure safety, Bitcoin Prime never stores its users’ funds. Instead, it works with third-party brokers to access and trade the funds. It also partners with brokers regulated by the Cyprus Securities Exchange Commission to ensure funds are in a regulated environment.

When users wish to withdraw, they can do so within 24 hours by filling out a withdrawal form.

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Pros & Cons

Pros

  • Compared to other bots, Bitcoin Prime reportedly offers a higher trade success rate
  • User-friendly interface with quick registration and verification
  • It comes with both manual and automated trading modes
  • Has a built-in demo account for practising trades and UI familiarisation
  • Customer service is readily accessible and happy to help 24/5
  • Completely free trading with no hidden costs or fee
  • Easy and quick withdrawals in 24 hours

Cons

  • Some of the features may be risky for new traders
  • Minimum working capital of $250 might be a barrier for some individuals

Bitcoin Prime Key Features

Demo mode

The demo mode is effective for users who wish to test the bot before committing funds. Seasoned users can also use it to analyse and refine trading strategies before deploying them with real cash.

Customer support

Bitcoin Prime has a customer service team on standby to help with any issues that may arise, or to help users set up their accounts. They are reachable via email 24 hours a day, 5 days a week.

Number of cryptos available

Bitcoin Prime trades 14 cryptocurrencies and over 70 CFD pairs derived from those underlying cryptos. These cryptos include Bitcoin, Ethereum, Cardano, Binance Coin, Ripple, Litecoin, Bitcoin Cash, ZCash, Dash, Ethereum Classic, Bitcoin Gold, EOS, NEO, and IOTA.

The trading bot does not trade the underlying cryptos, only CFDs derived from trading pairs between them and fiat currencies.

High Trade Success Rate

The Bitcoin Prime algorithm has gone through extensive upgrades over the years. It is now a sophisticated algorithm that is sensitive to price trends and consistently reacts profitably. Third-party reviews place its success rate at around 90%.

Easy and Quick Withdrawals

The crypto trading platform enables you to withdraw your funds anytime you want. You get your payment within 24 hours of filling out a withdrawal form. You get up to 10 free withdrawals every calendar month, after which you pay a 1% withdrawal fee.

Zero fee structure

The Bitcoin Prime trading software is free to use. There are no hidden account charges. You only get charged for profitable trades.

Start Trading in 3 easy steps

Open a Free Account

You need to register your account by providing your name, phone number, email address and your country of residence.

Make a Deposit

The minimum amount you should deposit is $250. In order to deposit your funds, go into your account and look for the 'deposit' option.

Start Trading

Define the trading parameters and preferences including stop loss and take profit limits to ensure risk minimisation.

Factors to Consider Before Using Bitcoin Prime

Before signing up for a Bitcoin Prime account, ensure that its policies and processes don't hinder you in the future. We analysed metrics that give a realistic representation of how Bitcoin Prime's processes perform in action. We also assigned a score out of five for each category.

Payouts: 4/5

Payouts occur relatively quickly, usually within 24 hours of a request. All you need to do is fill out a withdrawal form and wait for your funds to hit your brokerage account.

Verification System: 4/5

All new accounts need to be verified. You’ll need ID documents like a driver’s licence and a utility bill or bank statement to verify your account after registration.

Costs and Fees: 5/5

With traditional Bitcoin trading services and platforms, you have to worry about a number of transactional costs like commissions, withdrawal fees, funds storage charges and other expenses. That's not the case with Bitcoin Prime as it offers a completely free trading experience with no hidden costs aside from the transparent commission fee.

Trading Fees2% on profitable accounts
Deposit FeesNone
Withdrawal Fees1% after 10 free withdrawals in a month
Account FeesNone


Bitcoin Prime doesn’t charge account management fees, trading fees, deposits, or withdrawal fees. However, profitable accounts are charged a 2% commission on the profits. If your account hasn’t made a profit yet, you don’t get charged.

Deposit and Withdrawal Limits and Methods

To begin using the Bitcoin Prime trading platform, you’ll need to deposit a minimum of €250. You can deposit using credit cards, PayPal, and bank transfers. For withdrawals, there is no minimum limit, however, you will be required to pay a 1% fee after 10 free withdrawals in a month.

User Testimonials: 4/5

Independent third-party reviews are a reliable way to gauge service delivery before engaging a service. Bitcoin Prime robot has hundreds of positive user testimonials across different platforms that endorse it as a reliable trading bot. This shows that individuals have used the trading bot to consistently earn profits.

Customer Service: 5/5

Customer support on Bitcoin Prime is available 24/5 via email. Agents are on standby to help set up your account and fix any issues you may face.

Affiliated Brokers: 4/5

When registering for a Bitcoin Prime account, you can choose from a list of affiliated brokers. These brokers are established crypto brokers with a long-standing reputation in the cryptocurrency market. They are also regulated.

How Does Bitcoin Prime Compare?

The major decider between trading bots is how successful their algorithm is. At a success rate of 90%, Bitcoin Prime claims it's one of the best compared to other popular cryptocurrency robots. It is ideal for traders who want minimal contact with the trading interface.

Other robots like Immediate Edge and Bitcoin Up offer a similar automated experience but Bitcoin Prime's algorithm outperforms them.

Is Bitcoin Prime Legit?

Since Bitcoin Prime is an automated trading bot with multiple claims about profitability, we needed to ensure it is legit.

Real Satisfied Users

We found genuine reviews from hundreds of people who have successfully used Bitcoin Prime to trade in the last couple of years. According to the reviewers, it may take a couple of weeks to get familiar with the platform but patience and consistency can lead to sustainable profits.

Accessible Customer Service

We reached out to the customer service of Bitcoin Prime on three different occasions and we were able to connect with a customer representative every time. We found their answers satisfactory and were treated in a hospitable manner.

According to our findings based on researching online reviews and testimonials, it appears to be a reliable trading bot and is easy to use for new traders.

Is Bitcoin Prime Safe?

Bitcoin Prime is as safe as a trading bot could be. Client funds remain safe as they reside on a third-party broker. You can also set stop loss with your broker to implement proper risk management.

Also, when signing up to the trading platform, you are directed to a regulated broker to whom you submit proof of address documents. Bitcoin Prime works with that broker to execute trades meaning that your financial info remains with the broker, not the trading bot.

So far, there have been no reports of data breaches or loss of funds due to security gaps.

6 Reasons to Use Bitcoin Prime for Trading

Here are some reasons to use Bitcoin Prime for trading:

Trade faster

Bitcoin Prime can set and execute orders within a fraction of a second. It can spot trends and patterns that may elude the human eye and process more price data in a few seconds than a human could if given a week. A trading bot grants speed that is impossible for humans to achieve on their own.

Trade without emotion

Bitcoin Prime will execute a set strategy as laid out. The bot isn’t affected by negative sentiments, it does not have to drum up the willpower to be disciplined in a bull market nor hold on to certain pairs because it is secretly rooting for the project. Bot trading is based on maths, hard data, and strategy.

Trade 24/7

Bitcoin Prime runs 24/7. It does not tire or become disoriented, so you can run your strategy even while asleep. And because crypto markets are always open, you have more opportunities to make profit.

Manage risk

You can implement strict risk management policies to mitigate loss while maximising profit. And because you can test a strategy’s success rate with a demo account, you can calculate in advance your profit before trading.

Maximise arbitrage opportunities

With sub-second trading at your fingertips, you can profit from market inefficiencies that would be otherwise closed to you. You can program the trading bot to compare the prices of a coin, say Bitcoin, across multiple exchanges and take advantage of any discrepancies.

Various payment methods accepted

Bitcoin Prime accepts deposits in major fiat currencies like USD, GBP, and EUR through payment channels such as bank transfers, credit and debit cards, and electronic wallets like PayPal.

Best Way to Trade With Bitcoin Prime

If you're new to Bitcoin Prime, the best way to start trading is with a demo account. Demo accounts allow you to familiarise yourself with the UI in a risk-free environment and test your investment and trading strategies without having to put real money on the line.

As a new Bitcoin trader, it's a smart idea for you to rely on the automated mode instead of going for the manual mode. The auto mode only requires you to provide your trading preferences and define certain limits. Don’t forget to specify your stop loss and take profit limits that will allow you to manage your risk.

Conventional trading requires you buy financial instruments such as CFDs to trade Bitcoin. That’s a cumbersome and drawn-out process as you must make decisions on things that you do not yet understand, a challenging experience for new traders who don’t have a lot of trading or crypto knowledge.

Bitcoin Prime solves this problem since all you need to do is define trading parameters. The bot does the analytical assessment and order execution on your behalf.

Trading Strategies and Algorithms

Automated Trading

Bitcoin Prime’s automated mode trades 24/7 according to your strategy. All you need to do is set your parameters and deploy, and the bot does the rest. 

News and Trend

News updates like interest rates and inflation data affect the market, causing high volatility that could be ruinous if proper risk management is not in place. Bitcoin Prime responds quickly to these events and takes advantage of them.

Arbitrage Trading

Bitcoin Prime can scan the prices of supported cryptos across various exchanges to take advantage of price discrepancies. And since trades are made in a fraction of a second, users can profit immensely from arbitrage.

Has Bitcoin Prime Ever Appeared On TV?

Due to the immense popularity and sudden fame of the Bitcoin Prime platform, the trading bot became subject to a number of internet rumours. Some of these rumours proposed that the algorithm was pitched on investment shows in the UK and US to secure funding. We fact-checked the rumours to find out whether there is any truth to them or not. Here is what we found.

Dragons Den

With guests like Debora Meaden, James Caan, and Peter Jones, Dragons Den is a popular venture investment show across the globe. And while the show has hosted many innovators and technology startup founders, Bitcoin Prime never featured on the show.

Shark Tank

Similar claims were made online that the algorithm was pitched on Shark Tank, a US version of Dragons’ Den. We didn't find any episode that features the algorithm.

Has Bitcoin Prime Ever Been Endorsed by a Celebrity?

Rumours floated on the internet that the trading bot is endorsed by major celebrities known to back technology startups, especially cryptocurrency projects. Once again, we got to work to find out whether these Bitcoin Prime reviews or claims hold any truth.

Kate Garraway

Our findings show that Kate Garraway has neither lent any strategic nor financial support to the leading trading system.

Richard Branson

The Virgin Group founder and global entrepreneur has always been a major supporter of cryptocurrencies like Bitcoin. However, no evidence shows that he is backing the Bitcoin Prime app.

Elon Musk

The richest man in the world and founder of forward-thinking startups like Tesla and SpaceX was said to be backing Bitcoin Prime. Once again, our assessment reveals that while he is a big fan of decentralised projects, Elon Musk did not officially endorse Bitcoin Prime.

Mark Cuban

The dot com billionaire and one of the most highly regarded investors on Shark Tank, Mark Cuban, was also rumoured to have invested in Bitcoin Prime. However, our thorough assessment of the show as well as Mark Cuban’s social media profiles shows no evidence that backed or endorsed the trading bot.

Tips for Using Bitcoin Prime Safely and Managing Risk

If you are looking to manage your risk in an effective manner, the following tips can help you out a great deal.

Start Small

Many new investors make the mistake of putting all of their money into a single trade which is very risky. The first rule of trading is never to use more than you can afford to lose. This way, if a trade doesn't work out in your favour, it will not compromise your financial situation. 

Save Some Profits

While it is a very tempting option to put all of your profits back into trades when you are on a roll, it's hardly a smart trading strategy. When you are trading through the Bitcoin Prime app, it is recommended that you make a habit of saving a certain percentage of your profits. For instance, you can set aside 50% of your profit to ensure you don't lose all of your money if the next trade isn't favourable. 

Follow Expert Advice

If you want to become serious about Bitcoin trading, you need to keep up with news and developments in the space. Subscribe to major crypto blogs and read what credible and trustworthy analysts and cryptocurrency gurus predict. Consider this information when developing personalised investment strategies that have a higher chance of success.

Keep a Record for Tax Purposes

One of the smart things to do for all traders and investors is to keep a record of their trades including the amount of capital investment as well as profits earned for tax purposes. This will enable you to know how much money you have made using Bitcoin Prime, allowing you to calculate the tax you owe to the government. Remember that different countries have different crypto tax laws.

Only Invest What You Can Afford To Lose

Many investors, especially those just starting out, get carried away and put all or most of their savings into trades. Make sure that whatever amount you invest does not put you at financial risk if the trade does not go in your favour. Always make informed decisions based on facts and analysis to minimise your risk as much as possible.

How to Use Bitcoin Prime - Step-by-Step Guide

To begin using the Bitcoin Prime Trading System:

1. Register for an account on Bitcoin Prime

The first phase of registering for an account requires an email address and a phone number. After creating the account, you’ll need to submit KYC documents like an ID and proof of address.

2. Complete the registration form

While registering, Bitcoin Prime will refer you to a partner broker. You’ll need to sign for an account with one of them if you do not already have one. Similarly, you’ll need an ID card and proof of address document. However, some brokers may require proof of your source of funds.

3. Decide on a trading strategy

This is where you can try new strategies, use already existing ones, or develop your own custom strategy. Bitcoin Prime provides a lot of educational material so even users with no trading experience can begin using the bot.

4. Practice using the demo account

Ensure your strategy works as intended by first testing it in the demo account. In the demo test, you are training the model to recognise the specific parameters of your strategy in the market, making execution more efficient.

5. Make a deposit

You can now deposit funds into your account to begin trading. The minimum deposit is $250 sent to your broker, not Bitcoin Prime. Check the broker’s deposit methods and limits for more accurate details on what payment channels are available to you.

6. Set up automatic trading

Setting up automatic trading involves formulating values for the key parameters in your strategy. Every strategy has an entry point, an exit point (also called take profit), and a stop loss.

The entry and exit points are pretty straightforward: price points where you open and close the trade, respectively. However, the stop loss is a price point below the entry-level for buy trades where the bot will close your position if your trade doesn’t work out.

Stop-loss is a risk management policy determined by the amount of money you are willing to risk for every trade. A rule of thumb is to never risk more than 3% of your total account value on a single trade. Going by this, you should place your stop loss at a price where the loss will be less than 3% of the total value of your trading account. 

Bitcoin Prime Assets, Market, and Options

What assets can you trade using Bitcoin Prime?

Bitcoin Prime supports four major cryptocurrencies, Bitcoin (BTC), Rthereum (ETH), Ripple (XRP), and Litecoin (LTC). However, it does trade the coins directly, instead, it trades a derivative called Contracts for Differences (CFDs) that allow traders to open long and short positions.

These CFDs allow Bitcoin Prime to offer over 70 tradable pairs to its users, creating numerous opportunities to make money.

What leverage trading options are there with Bitcoin Prime?

Bitcoin Prime reportedly offers a 3000:1 leverage facility to its users. This means that traders can borrow up to 3000x their capital to make trades. Note that this is far above industry best practices and traders, especially beginners, are advised to use minimal leverage.

What are the spreads on Bitcoin Prime?

Bitcoin Prime does not charge spreads, however, its partner broker may. Ensure you are aware of the broker spreads before trading.

Can I Use Bitcoin Prime in my Country?

Can I use Bitcoin Prime in the US?

No

Can I use Bitcoin Prime in the UK?

No

Can I use Bitcoin Prime in Australia?

Yes

Can I use Bitcoin Prime in Sweden?

Yes

Can I use Bitcoin Prime in Germany?

Yes

Can I use Bitcoin Prime in Austria?

Yes

Can I use Bitcoin Prime in Switzerland?

Yes

Bitcoin Prime Review - Final Thoughts

Bitcoin Prime is a trading bot that helps users automatically to trade Bitcoin and other cryptos. The software is powered by a machine learning model that analyses previous price data to find recurring patterns. It then executes winning trades when these patterns are repeated in the market.

With a user-friendly interface, free trading system, a demo mode, and quick withdrawals, Bitcoin Prime offers a compelling trading solution for both beginner and experienced traders. However, before you start trading, ensure that you only invest what you can afford to lose and minimise your financial risk.

While a cloud of uncertainty has grown around the trading bot, it has proven to be a legit software with an impressive success rate, according to independent third-party reviews. It is also free to use and charges a modest 2% commission on profitable accounts.

Before jumping in, ensure you are comfortable with their processes and limits. For example, the minimum you can deposit is $250.

To open an account, sign up on their registration page and verify your account. Decide on a strategy, deposit your funds, and watch the bot make you money. Read our how to use Bitcoin Prime section for more details on how to get started with Bitcoin Prime.

Alternatively, if you’d rather rely on other reputable trading bots, you can choose from other options. Some of the other robots reviewed by us in the past include Bitcoin Era, Bitcoin Profit and Bitcoin Evolution.

Review Methodology

We review crypto robots by aggregating various tests, reviews, and testimonies across the web, allowing us to give you a balanced view that accounts for multiple perspectives. Check out our ‘why trust us’ and ‘how we test’ pages for more information on our testing process.

We are aware that the internet is full of false testimonies: there are several purported trading robots out there that are, in fact, scams. For this reason, we find it important to compare information from across the internet in our Bitcoin Prime review.

Frequently Asked Questions

Will I need to learn about trading to invest with Bitcoin Prime?
While being informed about the trading and cryptocurrency market isn't mandatory, it can help you in terms of making informed trading decisions. That being said, a new trader can also reportedly rely on the automated mode of Bitcoin Prime to invest in cryptocurrencies.
How much money can I earn in a single day using Bitcoin Prime?

Profitability depends on the amount of capital deployed and the trader's experience level.

How much time do I need to invest?
Bitcoin Prime isn’t demanding when it comes to requiring your attention. All you need to do is set your preferences and let the bot do its work. You just need to check in every once in a while to ensure the bot is working accordingly.
How can I withdraw my profits on Bitcoin Prime?

Submit a withdrawal form and wait for your payment to arrive. Processing time is usually 24 hours.

Can my Bitcoin Prime account get hacked?
That is highly unlikely. Bitcoin Prime reportedly implements advanced security measures like SSL encryption to ensure that all the communication between you and the bot is encrypted.
Is Bitcoin Prime endorsed by any celebrity?
While there have been many reports of Bitcoin Prime being endorsed by major celebrities like Elon Musk and Richard Branson, according to our findings there is no truth to these rumours.
How long will it take to sign up and verify my account on Bitcoin Prime?
The signing up and verification process on Bitcoin Prime is quite easy and quick to complete. You will need less than half an hour to get going.
Can I practice my trading risk-free on Bitcoin Prime?

Yes. You can rely on the demo account to familiarise yourself with the trading bot. In addition, you can use it as a free trading account and test a number of investment strategies risk-free.

What does Bitcoin Prime do?

Bitcoin Prime is a trading bot that automatically buys and sells crypto on behalf of its users. It uses an algorithm to spot patterns in price trends and profits from them.

Is there a Bitcoin Prime app?

Unfortunately, there is no native Bitcoin Prime app. It is still a browser-based platform, and you'll have to use the Bitcoin Prime website.

Can you make money with Bitcoin Prime?

Yes. You can make money with Bitcoin Prime as the platform provides the necessary software and learning materials to ensure you deploy sound strategies.

Disclaimer: All testimonial photos are stock imagery and do not represent the people behind the feedback.