Bitcoin Profit Review 2021 - Is It Worth It?
When Bitcoin was first introduced in 2009, nobody knew about the impact it was going to make after a decade. Although the first boom came early around 2011-2012 when the price touched the $1,000 mark, that growth was short-lived. In 2017, Bitcoin started to pick up and almost went on to cross the $20,000 ceiling making thousands of people multimillionaires. The price has normalized since then, but cryptocurrency now remains one of the most lucrative ways to earn money if you know how to read the trends, patterns, and analytics.
However, learning how cryptocurrency prices behave in different situations and scenarios is a complete science of its own. It’s difficult, time-consuming, and frustrating. That’s the problem that automated trading bots are trying to solve. As great as we are at multitasking, the human brain isn’t designed to evaluate the impact of dozens of variables on a singular event. A crypto bot helps us achieve that by integrating all those factors and evaluation methods into a single algorithm. Is it effective for Bitcoin Profit? Let’s find out.
What is Bitcoin Profit?
Bitcoin Profit is reported to be an automated crypto trading bot designed for a high return on investment without going through the painful process of analyzing trends and patterns and entering and exiting positions on time. It aims to allow everyday people to become a part of the crypto trading community, potentially enabling them to earn additional disposable income without extensive prior knowledge and experience of conventional or digital asset trading.
Who Created Bitcoin Profit?
The story behind the creation of Bitcoin Profit is an interesting one. It is reported that two disgruntled cryptocurrency traders, Jeff and Mike, got together to discuss everything that was wrong with cryptocurrency trading - challenging trend analysis, high fees, fine print commissions, withdrawal delays, and more. Having a background in coding, they decided to create an algorithm with an integrated statistical and trend analyzer and the ability to enter and exit positions with the accuracy of a hundredth of a second. To achieve their objective, they hired a team of students and professionals to create a beta version of the trading bot.
Although it was mainly designed for testing in the initial run, it quickly became very popular. That's why they decided to name it Bitcoin Profit. Today, the trading bot has been updated multiple times to add support for other cryptocurrencies like Ethereum, Bitcoin Cash, Litecoin, Ripple, and more. Apart from that, it is also reported that trade accuracy ratio and consistency have been further improved.
Start Trading in 3 easy steps
The Bitcoin Profit website has a brief registration form that asks for basic personal information like name, phone number, country, and email ID. Registration is free, and your identity is verified almost immediately. After subscription, you will be redirected to the trading bot's dashboard.
Once you are on the dashboard, you now need to deposit the minimum trading capital, which is only $250. Deposits are secure and instantaneous, and you don't lose any money in fees or commissions. Now it's time for you to make some profitable trades.
You don't need to put a lot of effort or time into trading. You're simply required to define certain trading parameters, and the Bitcoin trading bot will do the rest on its own. It will evaluate crypto trading platforms to identify lucrative opportunities and open and close orders with high precision and accuracy.
Pros & Cons
Key Features of Bitcoin Profit
Free Trading Bot
Today, most cryptocurrency trading platforms charge fees at different interaction points, including deposits, withdrawals, and trade order execution. This makes crypto trading an unappealing venture for many. That's why Bitcoin Profit does away with all types of fees, commissions, and hidden charges. There are no financial barriers to your entry.
Marginal Response Advantage
Since the Bitcoin price changes in a fraction of a second, it's important to enter and exit a position just at the right moment. Bitcoin Profit claims to be designed to open and close orders with an accuracy of 0.01 seconds allowing for greater precision and profitability.
Traditional cryptocurrency trading platforms make their traders wait for almost a week before their funds show up in their bank accounts. That doesn't appear to be the case with Bitcoin Profit. After you have filled in the withdrawal form, it takes them around 24 to 48 hours to process your payment.
Quick & Simple Verification
Another advantage is the ability to create profiles within minutes. The verification process is simple and doesn't take a lot of time, either. You can start placing your trade orders within 20 to 25 minutes without having to deal with complicated paperwork.
Readily Available Customer Care
If you are running into any issues or have questions or reservations about the trading bot, you can reach out to the customer service any time during the day. We made three attempts to contact the customer service, and each time we were connected to a helpful representative who was happy to provide the required assistance.
Built-in Demo Account
The presence of a demo account means you don't have to risk your capital to learn how crypto trading works. When you have signed up, you can use the demo account to learn the UI and make yourself familiar with the process. You can use it to try and evaluate different trading strategies as well without putting your money at risk.
Greater Trade Success Accuracy
Owing to better response times and improved autonomous decision making as claimed by its users, Bitcoin Profit bot reportedly has a much higher trade success accuracy as compared to some of the other trading bots. This may help all traders to improve their return on investment.
Integrated Financial Tools
The automated trading bot is said to come with built-in financial and trading tools providing all types of traders with a convenience to run their trading operations without having to leave the software. This reduces the downtime and keeps you away from distractions.
Is Bitcoin Profit Legit?
Any platform that promises high earnings online with minimal effort is always viewed with some scepticism. That’s why we went through a three-step process to verify the legitimacy of the Bitcoin Profit bot. Here are the results:
User Testimonials - We discovered a wealth of testimonials provided by past and present users of Bitcoin Profit who claimed that the robot was legitimate.
Corroborative Evidence from Traders – Throughout the internet, we scoured through multiple websites and key reputation management avenues to find out the majority of the feedback from real customers appears to be authentic and original.
Customer Service Effectiveness – As mentioned earlier, we contacted the customer service on three different occasions to find out the response times were reasonably swift, and we were always provided with satisfactory answers to our questions and concerns.
5 Reasons to Use Bitcoin Profit For Trading
Better Precision & Trade Success
With the advantage of opening and closing trades at a fraction of a second, trading software could have the potential for greater accuracy and precision.
Consistently Optimised Trading Bot
Developers of trading software are often committed to updating and optimising their service even further to enhance accuracy and add more features for the convenience of investors, contributing to the success and demand of their product.
Requires Minimal Supervision
You don't necessarily need any prior knowledge or experience of crypto trading to be able to use automated trading softare. Once you have set the parameters, the bot does the difficult job to deliver results with minimal supervision.
No Fees or Deductions
The platform is completely free to use, and you don't need to worry about any commissions or deductions at the time of the deposit or withdrawal. The entirety of capital, as well as profits, is yours.
Support for Multiple Cryptocurrencies
Although the beta version was designed for Bitcoin trading, today, the bot has support for a wide range of popular cryptocurrencies, including Bitcoin, Ethereum, Ripple, Monero, Litecoin, and more.
What's the Best Way to Use Bitcoin Profit?
In order to ensure that you are utilizing the potential of Bitcoin Profit to its fullest capacity, read the following recommendations:
- If you're an amateur trader, use the demo mode to navigate through the software and learn the basics of trading.
- Use the demo mode to test and evaluate your crypto trading strategies and compare results.
- Don't try manual trading mode unless you are a professional, experienced trader or have spent enough time trading to know the consequences of your actions
- Always utilize the stop loss and take profit feature to ensure you're reducing your risk to a bare minimum in the event a trade isn't successful
- Keep up with the latest cryptocurrency news and follow trustworthy experts to develop your expertise as a trader.
Has Bitcoin Profit Ever Appeared On TV?
You will find rumours that this trading robot has been featured on multiple UK and US investment TV shows on the internet. We tried to find out the truth about these claims.
As the leading UK investment show, Dragons’ Den has featured many technology startup ideas, including cryptocurrency businesses. However, we went through all the episodes to find out that there has never been any pitch made by Jeff and Mike on the show, and it’s never features anything as sophisticated and accurate as Bitcoin Profit’s algorithm.
Similar rumours have been circling about it being a part of Shark Tank – an American reality TV investment show with Kevin O’Leary and Mark Cuban being the lead investors. Once again, we failed to find any episode featuring Mike and Jeff pitching their trading bot idea.
Has Bitcoin Profit Ever Been Endorsed by a Celebrity?
Similar claims have been making rounds on the web about Bitcoin Profit being supported by multiple celebrities and venture capitalists.
The globally celebrated chef was rumoured to be behind its success. However, our research reveals that these are just rumours without any truth to them.
Although Bill Gates has talked positively about Bitcoin and blockchain in general, he has never specifically endorsed Bitcoin Profit by name.
The famous entrepreneur and the founder of the Virgin Group was rumoured to have his financial support behind this trading platform. Our in-depth analysis of the matter indicates that there's no evidence to that claim, and it's just another one of those rumours.
5 Ways You Can Maximize Success with Bitcoin Profit
Achieving financial stability is everyone's dream. However, you always need to be mindful of the fact that any bot, regardless of how great it is, will eventually have a bad trade. You never know when it's going to be that day, so you need to be as vigilant and cautious as ever. Here are a few tips you'd want to follow to manage your financial risk.
Never Let Your Guard Down
It doesn't matter how many successful trades they have accomplished in the past; great crypto investors always take it one trade at a time. If you've earned a lot of profit consistently in your last eight trades, it doesn't guarantee that the next trade would still be as profitable. That's why you can't put all your money in as one single bad order can wipe off all of your profits.
Divide Your Investment across Multiple Trades
Instead of investing all of your money in a single trade, we recommend you divide it up across four or five trades for better risk management. This way, even if a single trade isn't successful, the other four trades' returns will ensure you have earned net profit. This strategy is utilized by many smart traders to keep their losses to the bare minimum and maximize profitability.
Set Part of Your Profits Aside
Good traders know they can't invest everything they earn back into trading. This is why they save a certain portion for themselves to ensure they're generating consistent income. Investing all of your profits into trading is a high-risk move, which can lead to a big loss. You need to grow your investment steadily and gradually for organic growth.
Don't Hesitate to Learn Trading
If you really want to be included in the top 5 percent of the traders, you need to learn about trading. You can develop a fundamental understanding of cryptocurrencies and basic trading from the internet. From there on, you can follow crypto trading websites to keep yourself in the loop and listen to the crypto gurus and experts to make your trading instincts much better. This will help you grow as a cryptocurrency trader.
Use Demo Account to Test Strategies
Irrespective of how amazing you are with your strategies, you need to use the demo mode to ensure there aren't any inherent risks to your strategy. This will allow you to keep your investments safe by testing the legitimacy and success potential of your strategies in a risk-free environment. Amateur traders can also use a demo account to learn to navigate through the UI and familiarise themselves with the basics of crypto trading.
Our in-depth and thorough research into existing online reviews and testimonials of Bitcoin Profit indicates that it's a legitimate automated trading bot with innovation and technological advantage on its side. It doesn't seem to require any prior experience or knowledge of cryptocurrency trading, allowing everyone to use it to potentially make some extra money. It doesn't charge you anything at any stage and provides you with a variety of convenience features.
However, you need to exercise due diligence and check the platform out for yourself before making your mind up. Invest rationally to ensure you're preventing your financial situation from any risk.