Bitcoin Synergy Review 2024 - Is It Legit or a Scam?
Cryptocurrencies and the blockchain technology that underpins it, is fast becoming a household name and for good reason. Crypto has many advantages over traditional financial systems. It is completely frictionless, immutable and can transfer value from one part of the world to another in record speeds. It also enables people to ‘be their own bank’.
Now, we have institutional money swarming to gain exposure to this rapidly growing asset class, which has a genuine shot at outperforming every asset class in history.
However, cryptocurrencies are notorious for high volatility and this presents a problem for some investors.
But, for traders, great volatility offers a great opportunity.
And that’s why smart traders are coming up with new and innovative ways to capitalise on these rapid price fluctuations, regardless of the market direction. One interesting tool they’ve developed is Bitcoin Synergy, which combines a smart algorithm with a rapid response trading bot.
Pros & Cons
Pros
- Fully automated ‘set and forget’ functionality
- Reported to have an industry-leading hit rate of 99.4%
- No fees or commissions
- Collects market data and identifies trades in real-time
- Cutting edge encryption and security
- Website claims the bot trades 0.1 seconds faster than market
- A help desk with 24/7 customer support
- Simple to use even for beginners
Cons
- Not entirely risk-free. Always trade with caution.
- Have to deposit $250 to trade
Who Created Bitcoin Synergy?
Bitcoin Synergy is reportedly the brainchild of two brothers, one incredibly passionate about data analysis, and the other a seasoned trader with a passion for crypto.
The brothers allegedly set out to provide smart automatic trading software simple enough for anyone to use yet powerful enough to compete with institutions and trading terminals.
In the early days of crypto, it is said that these siblings noted that manual traders were losing profits to trading firms, which deployed sophisticated and faster trading tools.
Drawing inspiration from the world-renowned ‘TD Indicator & Sequential System’, they sought to attempt to automate this legendary system and incorporate it into a trading robot. The result aimed to be an intuitive automated trading software that enables anyone to trade Bitcoin and other cryptocurrencies like a professional.
Key Features of Bitcoin Synergy
Payouts
Bitcoin Synergy suggests the average member makes around $1100 daily. We were unable to reach this figure in our short trial with the software. We feel that such an income is demonstrative of the absolute maximum potential of the software and dependent on various factors including experience and favourable market conditions.
Verification System
Whenever you trade any financial instrument, stock or cryptocurrency, you generally need to confirm your identity to the platform you are using. This is so the exchange or broker can stay compliant, as well as to ensure your identity and your account are secure.
Withdrawal Process
If you want to test the authenticity of a trading platform, see how long it takes to withdraw funds. Bitcoin Synergy has streamlined the withdrawal process to make it easier for traders to take profits. Thankfully, they charge no fees to withdraw funds from the platform.
Costs and Fees
We already mentioned that Bitcoin Synergy has no withdrawal fees. Well, there are no deposit fees also. In fact, there are no fees involved at all. This trading software is completely free to use and traders are able to withdraw 100% of their profits from the platform.
User Testimonials
Bitcoin Synergy features numerous testimonials on its website indicating traders’ satisfaction with the platform. Most of these traders have profited in some way from the software, suggesting a high success rate.
Customer Service
In a bid to reinforce its label as the best user-friendly trading software, Bitcoin Synergy has a professional help desk, available through a web form, should you need any advice when using the software. We contacted the help desk and received a reply within four hours.
Affiliated Brokers
Bitcoin Synergy is only a trading software. In order to gain access to the cryptocurrency market, it needs to go through a trading desk or broker. We liked the fact that all the brokers we were referred to were fully compliant and regulated by leading authorities.
Is Bitcoin Synergy Legitimate?
We were impressed with Bitcoin Synergy in our small data test. The software performed well in our speed tests, but it was the algorithm that really shined. The trading software claims to collate more market data than most retail trading robots and it shows. Our own experience with the software leads us to believe that Bitcoin Synergy is indeed legitimate and effective if correctly managed.
The number of users, SSL encryption on the platform, and the fact all trades are monitored by licensed and experienced brokers suggest Bitcoin Synergy is both dynamic and legitimate trading software.
Any claims of illegitimacy seem to be put to bed by the many positive testimonials on the platform’s website coupled with winning the award for the best trading software by the US Trading Association.
5 Reasons to Use Bitcoin Synergy for Trading
1. Simple to Use
People with absolutely no trading experience should be able to use Bitcoin Synergy. It is that easy. The added support of a help desk makes sure everyone can use the platform as intended.
2. Industry-high ROI
Bitcoin Synergy reports a hit rate of 94.4% on its website, and user testimonials seem to confirm this claim.
3. Robot Trading is Fast
Bitcoin Synergy processes a large amount of data into trading signals and then executes trades from those signals at speeds 0.1 seconds faster than the market. While seemingly insignificant, speed is extremely important when trading volatility.
4. Linked With Regulated Brokers
We were referred to five brokers during our trial of the software. We went digging into the background of these exchanges and were pleased to discover they were all reputable brokers regulated by leading authorities. There is no guarantee that our experience will match yours, and you should always check the regulatory status of any broker you are referred to.
5. Fully Auto Trading
The testimonials are full of people raving about being able to pocket trade with the software. The set and forget functionality enables people to switch off from their investment if they have set the correct trading parameters.
What’s the Best Way to Use Bitcoin Synergy?
We believe Bitcoin Synergy is best utilized in unison with a longer-term investment strategy. Cryptocurrency is a growing market and it is important to have some long-term exposure. If the market trades sideways, at least you will know this auto trading bot is functioning in the background, automatically scalping trades. The technology is particularly useful in gauging trend reversals and when coins are reaching a local top or bottom.
The ability to pre-set trading parameters should be thoroughly explored to ensure you use all risk management tools at your disposal. Fortunately, using a trading robot is generally far easier than trading on a cryptocurrency exchange or OTC desk.
Has Bitcoin Synergy Ever Appeared On TV?
There has been rampant speculation in trading rooms online that Bitcoin Circuit was featured on international television programs related to finance. We investigated these claims to find out if it has really been shone on television.
Dragons Den
The UK version of Shark Tank, Dragon’s Den features a panel of judges from the investment world, judging entrepreneurs’ business ideas and deciding whether or not to invest. The show features high profile ‘Dragons’ on the panel including successful business people like Peter Jones, Touker Suleyman and Sara Davies. Sadly, we couldn’t find any record of it appearing on the show.
Shark Tank
Shark tank is the original American investment show where aspiring entrepreneurs from around the world pitch their business models to a panel of investors. Gossip in trading chat rooms suggested Bitcoin Synergy was featured on the series last year. While it is possible someone pitched a start-up based on the software to the show’s producers, we looked for any evidence of it appearing on Shark Tank and found none.
Has Bitcoin Synergy Ever Been Endorsed by a Celebrity?
Bitcoin Synergy is growing in popularity and the software has been linked with several celebrities. Most of these rumours have been on social media. We did some searching to see if any celebrities have endorsed this trading software.
Jay-Z
The popular New York rapper turned music business mogul seems to have his hand in a few pies these days. Jay-Z is a known investor in the cryptocurrency-trading App, Robinhood. We failed to find any evidence of Jay-Z putting his considerable weight behind Bitcoin Synergy, however.
Cristiano Ronaldo
Cristiano Ronaldo is a name known the world over. Few celebrities have the reach of football stars like Ronaldo and there are legions of fans watching his every move. When we did some research into Ronaldo’s investments, we found his name had been fraudulently linked with cryptocurrency scams in the past. Ronaldo has never endorsed any trading robots to our knowledge.
Mark Cuban
Billionaire Mark Cuban has invested in several businesses built on cryptocurrency and blockchain in the past. When it comes to Bitcoin, however, he said he prefers bananas as a store of value. We couldn’t find any information that would suggest Cuban liked auto-trading cryptocurrency either, though we wouldn’t be surprised.
5 Ways You Can Maximise Success With Bitcoin Synergy
While having access to a cutting edge trading bot gives you some advantage, all trading comes with risk. There is never a guarantee that you will make money. But there are several steps you can take, to put yourself in the driver’s seat. These common-sense practises will ensure you don’t make rookie mistakes and stay in the game.
Start Small
In keeping with good risk management practice, it’s always a good idea to start small. Take stock of the software with thorough usage of the demo mode, until you feel comfortable placing a trade. Take a measured approach and make sure that all trading positions are properly sized. It’s better to try making small amounts than risking too much in one trade. Make sure to employ all the risk management tools offered by Bitcoin Synergy.
Save Some Profits
A profit isn’t a profit until it’s realized. Make sure to convert your paper gains into real ones as soon as possible. It’s good practice to take some profits regularly and completely withdraw them from the platform. While your funds are on the platform they are at risk. Even from yourself reinvesting them prematurely. Withdraw them at regular intervals.
Follow The Advice of Experts
In devising a trading strategy, speak with experienced traders first to get their thoughts about the market. Typically cryptocurrency traders can be found on Twitter. Follow the ones with the biggest followings or ask them questions directly. In investigating the crypto market, try and nail down a coin with a strong trend. Make sure to check the Telegram groups of the coin’s community for indications on price direction.
Keep a Record For Tax Purposes
Keeping records for tax purposes is a surprisingly overlooked aspect of cryptocurrency trading. If you make profits trading you likely will have to pay tax on them just like any other capital gains. Having a detailed record of your trading history is important for personal bookkeeping, tax records, and to keep a general track of your trading progress.
Only Invest What You Can Afford to Lose
It’s a cliché only because it is true. Investing too much, too early, is a rookie mistake that can leave you underwater without leverage. Cryptocurrency is extremely volatile. Make sure you only have a small percentage of your wealth exposed to the market at any one time. While trading with robots can cut out some human error, all investment trading comes with risk and you need to be prepared for anything.
Our Conclusion
Bitcoin Synergy is reported through many positive online reviews and user testimonials as being an authentic trading software that can ease many of the tasks involved in cryptocurrency trading. That said, it is important to learn all you can about the cryptocurrency market and the mechanisms involved in CFD trading, as it carries significant risk, especially for those who are less prepared with the proper knowledge.
