Bitcoin Profit Review 2023 - Is it Legit or a Scam?

By Onose Enaholo - Updated 29 May 2023
Logo
Fact Checked
We are aware of numerous websites which use false celebrity endorsements to send customers to unregulated brokers or call centres. Our website will only send customers to partners who have provided us with the required regulatory assurances. This is a marketing offer and our regulated partners will indicate what services they have available upon registration.

Bitcoin Profit is a crypto trading bot that helps traders become profitable by automating the analysis and trade execution process. Bots, when used well, have proven to be able to generate profit in the volatile crypto market.

Our Bitcoin Profit review dives into the trading bot, how it works, its pros and cons, factors to consider before using it, whether or not it is legit, and if it is worth your investment.

Our Investigation Result: Bitcoin Profit Seems Legitimate!

After an extensive investigation, we can say that Bitcoin Profit is a legitimate crypto trading platform.

If you are interested in setting up your free Bitcoin Profit account, then use the link below and an account manager will walk you through the simple steps to signing up.

Bitcoin Profit Summary

Minimum Deposit

€250

Fees and Commission

None

Claimed Success Rate 

85%

Supported Cryptocurrencies

10+

Deposit and Withdrawal Fees

No fees

Demo Account

 Yes

Leverage

5000:1

Withdrawal time

 24 hours

Table of Contents

What Is Bitcoin Profit?

Bitcoin Profit claims to be a cryptocurrency auto-trading bot that uses artificial intelligence and deep learning to execute trades on the behalf of its customers. Its automated features allow it to open and close profitable trades without any human intervention.

With the bot, regular people who are not conversant with the market or technical analysis are not left out of profitable opportunities while advanced traders are made even more effective in their trades.

The crypto trading platform operates 24/7 and supports over 10 cryptocurrencies.

Who Created Bitcoin Profit?

The official Bitcoin Profit website has no information about the founding team. There are various online crypto/blockchain forums which claim that high-profile celebrities are behind the bot, however, we could not find evidence to support these rumours.

Our investigation led us to a different conclusion. We believe that the team behind Bitcoin Profit is made up of expert mathematicians, developers, and experienced traders.

Anonymous founding teams have become a staple of the crypto market as founders of several legitimate projects have decided to stay anonymous.

How Does Bitcoin Profit Work?

Bitcoin Profit relies on an AI algorithm that has been trained, with years of cryptocurrency market data, to monitor price changes instantaneously, determine price patterns, and predict future trends.

Once the algorithm has picked up on a price pattern and predicted the trends, the bot will then execute trades that have the highest profit probabilities. 

The bot doesn’t stop there, it continues to monitor price movements until it has determined a profitable exit point. The robot has a reported success rate of 85%, meaning that its trades are correct 85 times out of 100.

To execute trades, the bot uses financial instruments called Contracts for Differences (CFDs) that track the prices of other tradable assets, in this case, crypto.

The CFDs mimic crypto’s price action, allowing traders to trade them like they would the actual cryptos. However, unlike the underlying cryptos, they can trade in both directions i.e. long and short.

Traders can also use leverage to increase the size of their positions without a capital increase. We dive into CFDs in a later section of this guide.

Bitcoin Profit is not a broker, so it relies on third-party brokers to provide trade automation features. The trading bot connects to brokers via their MT4 trading terminal and sends these signals as trading instructions.

Because of this, Bitcoin Profit never stores its users’ funds. Instead, it accesses them from its broker partners who are regulated by the Cyprus Securities Exchange Commission (CySEC).

1
Min. Deposit
$ 250
Promotion
User Score
4
Low Deposit with Reportedly Potential High Returns
Advanced Class A Trading Algorithm
Get Support From A Free Advisor
Visit Site
Description:
Payment Methods:
Debit Card, Credit Card, Sofort, Visa, Mastercard, skrill
Full Regulations:
We are aware of numerous websites which use false celebrity endorsements to send customers to unregulated brokers or call centers. Our website will only send customers to partners who have provided us with the required regulatory assurances. This is a marketing offer and our regulated partners will indicate what services they have available upon registration.

Pros & Cons of Bitcoin Profit

Pros

  • Faster response time, usually 0.01 seconds faster than the market average
  • Demo mode for practising and testing strategies
  • Free-to-use service with no fees, commissions, or hidden charges
  • Requires minimal investment of time and effort and works without supervision
  • Readily accessible customer care provides the required technical assistance

Cons

  • High minimum deposit of 250 Euros
  • Withdrawals may take up to 48 hours

9 Key Features of Bitcoin Profit

Built-in Demo Account

With a demo account, you don’t have to risk your capital to learn how crypto trading works. You can use the demo account to familiarise yourself with the platform’s processes and practise new strategies in a risk-free environment.

Timely Withdrawal

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.

Number of Cryptos Available

Bitcoin Profit supports 14 cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), Cardano (ADA), Binance Coin (BNB), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), ZCash, Dash, Ethereum Classic (ETC), Bitcoin Gold (BTG), EOS, NEO, and IOTA.

Thanks to CFDs, the platform offers more than 50 trading pairs by combining cryptos with fiat currencies.

High Trade Success Rate

Bitcoin Profit has a success rate of 85%. However, this doesn’t mean that every 8 trades out of 10 will be accurate. Real accuracy levels are usually lower than the claims, but the algorithm has been tuned well enough to consistently generate profit.

Response Advantage

When it comes to algorithmic trading, speed is essential. Bitcoin Profit’s official website reports that the bot can place trades milliseconds faster than competitors.

While it may not seem like much, it could be the difference between profit and loss in a flash crash.

Verification System

The verification process is relatively easy and fast as long as one offers the required personal information. Once you sign in, you will have to upload a picture of your government issued ID or passport to confirm your identity and submit a document that shows your place of residence. 

The documents will be reviewed, and if they check out, your account will be approved within an hour, and once done with this process, it’s time to deposit and trade.

Costs and Fees

The trading software doesn’t charge any fees at all when it comes to deposits or withdrawals. But you may incur some costs depending on the mode of payment you opt to use to fund your account. The auto trader makes its money by taking commissions on spreads. 

Customer Service

Bitcoin Profit boasts a highly responsive customer service team who are always on hand to help users with any issues they may have while interacting with the platform. Once you sign in, you will receive a call from one of the members who will guide you on verifying and depositing in your account. 

They will also advise you to try the demo account if you are a first-time trader to ensure that you have a good understanding of how trading on the platform works before engaging in live trading. Additionally, there is a chatbox on your trading dashboard on the right bottom corner where you can ask any questions, and a member of the customer support will attend to your queries. Finally, you can reach the platform through email with all questions answered within 24 hours. 

Affiliated Brokers

Like other top crypto trading robots, Bitcoin Profit employs the services of various brokers who help users access different trading markets with ease. During our research, we tried a few different accounts using VPN to change our locations, and each time we were linked to the other broker. We found out that various authorities regulated the brokers associated with the platform within their jurisdictions.

Factors to Consider Before Using Bitcoin Profit

We analysed metrics that give a realistic representation of how Bitcoin Profit’s processes perform in action. We also assigned a score out of five for each category.

Deposit and Withdrawal Limits and Methods: 4/5

Bitcoin Profit requires a minimum deposit of $250 through credit cards, PayPal, and bank transfers. No minimum or maximum limits are placed on withdrawals as it is completely free.

Affiliated Brokers: 4/5

Bitcoin Profit partners with established brokers around the world. It claims its partners are regulated by recognised supervisory bodies and allows new users to choose from a list of available brokers in their region. These brokers are usually established with a long-standing reputation in the cryptocurrency market.

Customer Service: 5/5

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

Costs and Fees: 5/5

With zero trading, account, deposit, and withdrawal fees, Bitcoin Profit is one of the best and cheapest trading bots on the market. However, its broker partners may charge trading commissions or add spreads.

Verification System: 4/5

All new accounts must be verified via the KYC process. You’ll need to submit ID documents like a driver’s licence and a utility bill or bank statement to verify your account after creation.

Payouts: 4/5

Payouts occur relatively quickly, usually between 24 – 48 hours of a request. All you need to do is fill out a withdrawal form in your account dashboard and wait for your funds to hit your brokerage account.

User Testimonials: 4/5

Independent third-party reviews are a reliable way to gauge service delivery before engaging. The Bitcoin Profit robot has hundreds of positive user testimonials across different platforms that endorse it as a reliable trading bot.

How Does Bitcoin Profit Compare to Other Automated Cryptocurrency Traders?

Many crypto robots offer automated trading software for the crypto market. However, each auto trading platform offers a unique approach.

With a success rate claim of 85%, a free pricing structure, and support for over 14 cryptocurrencies, Bitcoin Profit holds its own against popular cryptocurrency robots.

You should thoroughly research the crypto robot you are considering signing up with before opening an account. Here are some alternatives to Bitcoin Profit that you should check out:

  • Bit Index AI utilises AI technology to identify highly profitable trades.

  • Ethereum Code is one of a few crypto robots which solely trades crypto tokens on the Ethereum blockchain.

  • Immediate Edge is a good option for traders who want to trade the whole cryptocurrency market.

  • Qumas AI is a new auto-trading robot which offers demo trading to its customers.

  • Bitcoin Prime is an auto-trading robot which focuses on Bitcoin CFDs.

Is Bitcoin Profit a Legitimate Autotrader?

Platforms that promise high earnings with minimal effort are viewed with scepticism. That’s why we wanted to help answer the question “Is Bitcoin Profit legit?” We verified the legitimacy of the Bitcoin Profit bot using two verticals. Here are the results:

User Testimonials: We discovered several testimonials by past and present users of Bitcoin Profit that claimed the robot was legitimate. We scoured the internet, dug through multiple websites and key reputation management avenues and found that the majority of feedback from real customers appears authentic and original.

Customer Service: We contacted customer service on three different occasions and found that the response times were reasonably swift. We were provided with satisfactory answers to our questions and concerns.

If you’re still not sure about the Bitcoin Profit platform, then you can try their demo trading feature. This allows you to test out the Bitcoin trader without risking your funds.

Is Bitcoin Profit Safe?

According to its official website, Bitcoin Profit implements SSL encryption on its web platform to ensure malicious traffic does not get past its firewalls. It also mandates KYC registration for new accounts to avoid false/stolen identities.

To protect user funds, Bitcoin Profit partners with brokers to store funds. Users’ funds would be out of reach even if the bot becomes compromised.

5 Reasons to Use Bitcoin Profit for Trading

Regular Payouts

Independent customer reviews claim that Bitcoin Profit regularly generates about $1000 in profits payable upon a withdrawal request. This depends on the initial amount invested.

Minimal Supervision

You don’t need prior knowledge or experience in crypto trading to use Bitcoin Profit. Once you set the parameters, the bot does the difficult job of delivering results with minimal supervision.

Trade Without Emotion

Bitcoin Profit 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 positions because it is secretly rooting for the project. Bot trading is rooted in maths, data, and strategy.

No Fees or Deductions

The platform is free to use. You don’t need to worry about deposit and withdrawal commissions or deductions. The entirety of your capital, as well as profits, is yours.

85% Success Rate

Bitcoin Profit’s success rate is one of its most popular features. While we did not test these claims, online user stories allude that the bot is accurate enough times to be profitable within certain parameters.

What is the Best Way to Trade With Bitcoin Profit?

To ensure that you utilise the potential of Bitcoin Profit to its full capacity, read the following recommendations:

  • If you’re an amateur trader, use the demo mode to navigate the software and learn trading basics.

  • Use the demo mode to test and evaluate your crypto trading strategies and compare results.

  • Don’t use the manual trading mode unless you are a professional, experienced trader or have spent enough time trading to know the consequences of your actions

  • Always utilise the stop loss and take profit feature to ensure you reduce 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?

Dragons’ Den

Dragons’ Den is a business show that has featured many technology startup ideas, including cryptocurrency businesses. However, having gone through its archives, we conclude that Bitcoin Profit has never been on the show.

This Morning

This lifestyle show encompasses cuisine, fashion, business, and the latest trends. It features hosts and guests that entertain the audience through vibrant conversation and activities. However, we did not find any episodes where a representative from Bitcoin Profit was featured.

Daily Mirror

The Daily Mirror is a tabloid-style newspaper publisher of journalistic pieces on politics, sports, business, gossip celebrities, etc. Businesses often feature on issues, but nothing on Bitcoin Profit or any of its founders.

1
Min. Deposit
$ 250
Promotion
User Score
4
Low Deposit with Reportedly Potential High Returns
Advanced Class A Trading Algorithm
Get Support From A Free Advisor
Visit Site
Description:
Payment Methods:
Debit Card, Credit Card, Sofort, Visa, Mastercard, skrill
Full Regulations:
We are aware of numerous websites which use false celebrity endorsements to send customers to unregulated brokers or call centers. Our website will only send customers to partners who have provided us with the required regulatory assurances. This is a marketing offer and our regulated partners will indicate what services they have available upon registration.

Has Bitcoin Profit Ever Been Endorsed by a Celebrity?

Gordon Ramsay

Gordon Ramsay is a celebrity Chef known for his TV show Hell’s Kitchen. He is also a shrewd businessman as he owns a line of restaurants. The Chef was rumoured to have endorsed Bitcoin Profit, however, our research reveals that the rumours hold no truth.

Richard Branson

The founder of the Virgin Group was rumoured to have offered financial support to Bitcoin Profit. Our in-depth analysis of the matter indicates that those claims are baseless.

Elon Musk

The founder of forward-thinking startups like Tesla and SpaceX, and the recent owner of Twitter, was said to be backing Bitcoin Profit. Our assessment reveals that while he is a big fan of decentralised projects, Elon Musk did not officially endorse Bitcoin Profit.

Mark Cuban

Mark Cuban is a billionaire investor who has been closely affiliated with cryptocurrencies, NFTs, and decentralised ventures. He is also a panellist on the American business show, Shark Tank. 

As such, rumours arose that Bitcoin Profit was one of the ventures he backed. However, our research into the show’s archives, as well as his investments, show that he did not endorse nor is he affiliated with Bitcoin Profit.

Jeff Bezos

The founder of Amazon and the occasional richest man in the world isn’t too close to cryptocurrency. He has expressed interest and even approval for some cryptos but he has never made active moves to acquire crypto businesses. Hence all rumours about him endorsing Bitcoin Profit are false. 

Martin Lewis

Martin Lewis is a financial journalist known for his popular site MoneySavingExpert.com. He often gives tips and techniques on investing and personal finance, however, none have been on specific crypto trading bots. Hence rumours about him endorsing or writing about Bitcoin Profit are false.

Peter Jones

Peter Jones is a British tech billionaire and panellist on the British business show, Dragon’s Den. He has diversified investments but is mostly known for his ventures in the telephony and media industries. While he is involved with tech, our research shows that he has not endorsed Bitcoin Profit.

5 Tips for Using Bitcoin Profit Safely and Managing Risk

If you are looking to manage your risk effectively, the following tips can help you out a great deal.

Start Small

Never risk more than you can afford to lose. Start with the minimum required deposit (i.e. $250). This way, you can mitigate losses that stem from mistakes or bad calls made during the learning process. Avoid using savings or borrowed funds so that your financial situation does not become compromised if you make a series of ball calls. 

Keep a Record for Tax Purposes

Document your trades, first for taxes, and then for improvement. This will enable you to track how much money you have made using Bitcoin Profit, allowing you to calculate the tax you owe to the government. It also allows you to see any systemic flaws in your decision-making process.

Use Demo Account to Test Strategies

Always test new ideas and strategies before deploying them in a live account. First, backtest it against historical price data, then test it using real market data in a demo account.

You can also use a demo account to learn how to use new or advanced features on the platform.

Set Part of Your Profits Aside

Immediately you become profitable, start setting aside a percentage of your profits. You’ll want a nest egg in case the market throws any surprises that leave you reeling, and you’ll also want to diversify your investments to achieve a degree of safety.

Follow Expert Advice

If you want to be a successful trader, find people who are smarter than you, and who disagree with you, and find out why. Listen to experts in the field, especially those whose trading decisions run contrary to yours. 

Keep up with news and developments in the space, subscribe to major crypto blogs, read what credible and trustworthy analysts say, and even follow some obscure crypto Twitter accounts that always seem to give accurate predictions.

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

To begin using Bitcoin Profit:

1. Register for an account on Bitcoin Profit

Create an account with Bitcoin Profit by filling in your email address, name, and phone number in the signup form. You may receive a verification email or phone call to complete the creation process. Usually, you’ll have to verify your account by submitting KYC documents like an ID and proof of address.

2. Complete the registration form

After verification, you’ll need to choose a broker. Bitcoin Profit will provide a list of partner brokers available in your region. Sign up for an account with one of them.

3. Decide on a trading strategy

Trading strategies guide your bot’s actions. They usually consist of an entry level, an exit level, and a stop loss.

4. Practice using the demo account

Test your trading strategy with a demo account using live market data. Also, backtest it against past market data to ensure it works as intended for specific market conditions.

5. Make a deposit

Deposit a minimum of $250 to begin. You can deposit using a credit card or Skrill. You can also deposit US, GBP, or EUR.

6. Set up automatic trading

When you’re done with the initial process, you may move to a live account and set up automatic trading. Here, the bot trades according to the parameters of your strategy.

Bitcoin Profit Assets, Market, and Options

What assets can you trade using Bitcoin Profit?

Bitcoin profit’s automated trading software allows you to trade more than 10 cryptocurrencies, including majors like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Cardano (ADA), EOS, and Ripple (XRP), using CFDs.

These contracts allow traders to long and short the market and use leverage facilities. If traders make the right bets, they get the difference in price between the start of the contracts and the close as profit.

What leverage trading options are there with Bitcoin Profit?

Bitcoin Profit offers a leverage facility of 5000:1, meaning that traders can set positions with up to 5000x more than what they put in. This is highly irregular and is banned in many jurisdictions.

We do not advise anyone to trade with such high leverage as it almost always ends in losses that could be significant, given the magnitude of the facility.

This is all the more reason why you should set tight stop losses and never trade with more than you can afford to lose.

What are the spreads on Bitcoin profit?

The official Bitcoin Profit website doesn’t provide much information about the spreads on the Bitcoin trading system. You may have to check with the broker assigned to you.

Can I Use Bitcoin Profit in my Country?

Can I use Bitcoin Profit in the US?

No

Can I use Bitcoin Profit in the UK?

No

Can I use Bitcoin Profit in Australia?

Yes

Can I use Bitcoin Profit in France?

Yes

Can I use Bitcoin Profit in Germany?

Yes

Can I use Bitcoin Profit in Austria?

Yes

Can I use Bitcoin Profit in Switzerland?

Yes

Can I use Bitcoin Profit in Denmark?

Yes

Can I use Bitcoin Profit in Finland?

Yes

Can I use Bitcoin Profit in Norway?

Yes

Can I use Bitcoin Profit in Poland?

Yes

Can I use Bitcoin Profit in The Netherlands?

Yes

Our Overall Verdict of Bitcoin Profit

Bitcoin Profit automatically trades Bitcoin and other cryptos. The software is powered by AI algorithms that analyse price data to find recurring patterns and execute winning trades.

Users get an algorithm with an 85% success rate, free deposits and withdrawals, a user-friendly interface, multiple crypto support, and a demo mode.

However, it’s not all fun and games as no bot can guarantee success all the time. You still need to develop sensible trading strategies and implement effective risk management policies to succeed.

When trading, ensure you use leverage cautiously. Don’t start with a large capital commitment, and never invest more than you can afford to lose.

To open an account, fill out the registration form on the bot’s website and verify your account. For more details on how to get started with Bitcoin Profit, read our how to use Bitcoin Profit section.

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 Profit review.

Frequently Asked Questions

Will I need to learn about trading to invest with Bitcoin Profit?
While being informed about the trading and cryptocurrency market isn't mandatory, it can help you make informed trading decisions. That being said, new traders can also rely on the automated mode to invest in cryptocurrencies.
How much money can I earn in a single day using Bitcoin Profit?
Profitability depends on the amount of capital deployed and the trader's experience level.
How much time do I need to invest?
Bitcoin Profit doesn't demand attention. All you need to do is set your preferences and let the bot do its work. You'll need to check in periodically to ensure the bot works properly.
How can I withdraw my profits on Bitcoin Profit?
Submit a withdrawal form and wait for your payment to arrive. Processing time is between 24 - 48 hours.
Is Bitcoin Profit endorsed by a celebrity?
While there have been many reports of Bitcoin Profit endorsements by celebrities like Elon Musk and Richard Branson, our findings found no truth to these rumours.
How long will it take to sign up and verify my account on Bitcoin Profit?
The signup and verification process on Bitcoin Profit is 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 Profit?
Yes. You can rely on the demo account to familiarise yourself with the trading bot and test investment strategies risk-free.
What does Bitcoin Profit do?
Bitcoin Profit 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 Profit app?
Unfortunately, there is no native Bitcoin Profit app. It is still a browser-based platform.
Can you make money with Bitcoin Profit?
Yes. You can make money with Bitcoin Profit as the platform provides the necessary software and learning materials to ensure you deploy sound strategies.
How much money can I make with Bitcoin Profit?
This depends on your working capital and other factors. If you’re a seasoned investor, you can make even more.
Has Bitcoin Profit Ever Been Endorsed by a Celebrity?
To our knowledge, not yet. It’s a popular trading bot with a lot of rumours circling its existence. However, there’s no truth to such celebrity support claims.
How much time will I need to invest in trading?
Not more than half an hour daily should be required. The automated bot is designed to be autonomous and makes difficult choices on its own. You only have to provide the basic parameters.
Would I be able to withdraw money easily?
Yes. It will need 24 to 48 hours to process your payment after you have submitted your withdrawal form.
What is the commission percentage of Bitcoin Profit?
Zero. Bitcoin Profit is completely free with no fees, commissions, or hidden charges. You keep all of your working capital as well as your earnings.
Disclaimer: All testimonial photos are stock imagery and do not represent the people behind the feedback.