Bitcoineer Review 2024

Our findings: Bitcoineer seems to be legitimate

Having undertaken extensive research and investigated how this automated trading bot functions, we believe Bitcoineer is a legitimate crypto trading platform. All claims made by the Bitcoineer platform appear to be accurate.

If you are interested in signing up for a free account with Bitcoineer, you can use the link below to get started and an account manager will walk you through the process.

Bitcoineer Summary

What is Bitcoineer?

Bitcoineer is a new cryptocurrency trading robot that helps users take advantage of the crypto markets by automating the trading process from analysis to execution.

The Bitcoineer trading platform bot claims to use AI algorithms to run analysis on crypto price trends and then forecast possible future movements to a high degree of accuracy.

With this trading platform bot, new traders who wish to get ahead in the market no longer need to acquire trading experience to start trading, which can be costly. They can simply set up the robot, input their trade parameters, and watch it execute profitable trades for them.

Who Created Bitcoineer?

Not much is known about Bitcoineer’s creators. We believe that they are a group of developers, mathematicians, and finance traders because those are the expertise required to build and run a trading platform bot like Bitcoineer.

We also noticed that this is somewhat common among trading platform robots whose founders are known.

Because of the founders’ anonymity, we approached the Bitcoineer trading platform with caution. While our tests came out positive overall, the bot’s algorithm remains a secret and functions may be altered at any time.

Ensure that you always keep an eye out and discontinue use if the bot no longer serves you.

How Does Bitcoineer Work?

Bitcoineer uses artificial intelligence to improve the performance of its algorithms, allowing it to process large datasets in real-time and make potential high-probability forecasts.

The Bitcoineer trading platform robot breaks down price data into various components, commonly called variables, and measures the relationship between these variables and the resulting price action. For example, high volume usually precedes a significant change in price.

Several variables like momentum, volume, and volatility have an effect on price or serve to indicate a change in price action. Bitcoineer’s trading platform measures the strength of the relationships between these variables. Usually, the stronger the relationship, the more likely it is to recur.

To test this theory, the bot analyses past market data to determine whether the correlations between variables and market price have historical backing. If historical data validates the relationships, the bot stores it as possible strategies.

When it detects the same pattern or correlation in live price data, it forecasts how the price will react, based on the nature of the relationship between the variable and price.

While this method offers a level of accuracy, the bot does not depend solely on it. Bitcoineer also uses technical analysis and indicators to mark out good entry and exit levels.

When live trading, the bot uses financial derivatives, called Contracts For Difference (CFDs), to trade crypto price action. These instruments represent specific assets like stocks, bonds, indices, and cryptocurrency, and mimic their price action.

By using CFDs, crypto traders do not need to own cryptocurrency to trade them. They can also trade both bullish markets and bearish markets with leverage. We dive more into CFDs in a later section of this Bitcoineer review.

Bitcoineer’s trading account connects to crypto brokers across the world to offer its services on a global scale. These brokers are usually regulated and help enforce risk management policies. You’ll need to create an account with a broker on Bitcoineer’s list of partners to trade.

5 Key Features of Bitcoineer

Algorithm-Powered Accuracy

Bitcoineer claims that its algorithms are powered by artificial intelligence and can achieve an accuracy of 89%. This means that around 9 of 10 trades the bot executes will be successful.

While this feature seems impressive, we must mention that these figures are usually upper limits, not mean values. Also, we have no way of verifying these claims, so start trading with caution.

Bitcoineer Free Demo Account

Bitcoineer comes with a demo account that allows you to begin trading in a simulated environment using real market data.

It provides an opportunity for beginners to test the trading platform, understand trading concepts, and learn how to create crypto trading strategies while expert traders can test new strategies as close to the live market as they can get.

The demo mode is available upon verification of your Bitcoineer account. You do not need to deposit funds to use the demo account.

Bitcoineer Customer Support

Bitcoineer customer support is available during the week within working hours. They can be reached via email and are usually quite responsive, according to reports. Unfortunately, there are no other communication channels at this time with Bitcoineer customer support.

Beginner-Friendly Interface

Anyone can use Bitcoineer, and we mean everyone. The platform features an open layout that the newest crypto trader can understand, provided they are computer literate. Because the trading platform software is cloud-based, there is no complex instalment process.

Once you create and verify a Bitcoineer account, you get access to your dashboard which includes all the features and services available to you.

Bitcoineers Powerful Trading Integrations

Because Bitcoineer is a fairly new cryptocurrency trading bot, it has integrations for the popular MetaTrader4, MetaTrader5, and WebTrader terminals.

These integrations power its cross-functionality, allowing it to be used on the desktop with the MT4 and MT5 platforms, and on mobile devices like phones and tablets thanks to the WebTrader integration.

Factors to Consider Before Using Bitcoineer

Security: 5/5

Bitcoineer emphasizes security by implementing industry-standard procedures and techniques to ensure that its cryptocurrency trading platform is protected from both internal and external threats.

Some of these features include end-to-end encryptions, two-factor authentication (2FA), and KYC on the legal side.

We found their security features to be adequate. Also, we have not come across reports of breaches or hacks on the Bitcoineer website.

Verification System: 4.4/5

Creating and verifying an account on Bitcoineer is quick and easy. You’ll need basic details like your name and email address to start with when creating your account. Then, you’ll need to submit more personal details like a bank statement and an ID.

We found the process to be quick, easy, and regular. The documents required were the industry standard, with no indication of foul play.

Withdrawal Process: 4.1/5

Bitcoineer’s withdrawal process is easy. While several major brokers can take days to process transactions, this trading platform bot does so within 24 hours. It does not limit the amount you can withdraw, although we believe your payment providers might impose some limits and charges.

Ensure that the funding method you use is one that is cheap to transfer money with however frequently you intend to. For example, credit card transactions are much faster than bank transfers, but also more expensive.

When you’re ready to withdraw, fill out the withdrawal form in your account dashboard.

Costs and Fees: 5/5

Bitcoineer doesn’t charge fees. Reports say that you can carry out both crypto trading and financing transactions, like deposits and withdrawals, free of charge. The bot also doesn’t charge account-associated fees like maintenance, software licensing, or inactivity fees.

The bot, however, takes 2% of trading profits. This is how the Bitcoineer company makes money. Rest assured that this commission is only on profits, hence it is not a fee and is not charged if you do not make a profit.

The crypto trading bot may also add a markup to spreads, but this depends on the nature of its partnership with brokers. This information is not public on the Bitcoineer website, however, it is a normal practice.

User Testimonials: 3/5

Because this Bitcoineer bot is fairly new on the market, we did not find as many user testimonials as we would have liked. Several other bot trading platforms have testimonials, especially those that have been on the market for longer.

A lack of testimonials does not immediately spell fraud, provided the bot is not in the business of doctoring reviews. It just means you cannot rely on the experiences of others and will have to experience both the positive and negative sides of using the bot yourself.

The testimonial situation may change as the bot develops a reputation and gets into the hands of more users, however, we cannot guarantee that. For now, trade with caution.

Customer Service: 4/5

Bitcoineer’s customer service leaves some to be desired. We’re not necessarily saying that the service is bad, we’re saying that it is limited in terms of service hours and communication channels.

Several competitors provide 24-hour service every weekday, some also provide support over the weekends, however, Bitcoineer customer support only provides services within working hours on weekdays.

Furthermore, the bot only provides email support while several crypto trading platform competitors provide email, phone, and live chat support.

Affiliated Brokers: 5/5

Like all crypto trading robots, Bitcoineer claims to only partner with regulated brokers that have strong reputations. The bot says that its partners are usually regulated by the Cyprus Securities Exchange Commission (CySEC) and are generally suitable.

Unfortunately, we could not vet every broker because the bot partners with various companies spread across the world. Some brokers aren’t available to use because of our location.

Nonetheless, the ones we came across were legitimate and regulated. We advise that you research your choices before creating an account with any broker.

Deposit Methods and Limits: 4/5

Bitcoineer accepts deposits in three major currencies: USD, GBP, and EUR through credit card payments, Skrill, Neteller, PayPal, and Sofort banking. Deposits are free, and while there are no charges, there is a $250 minimum requirement.

We were able to deposit funds into our account. Credit card payments are the fastest but most expensive. Sofort banking works for users who reside in the Eurozone, and electronic wallets like PayPal and Skrill are a great option if you live in a supported country.

How Does Bitcoineer Compare to Other Automated Cryptocurrency Traders?

Bitcoineer is similar to several bots on the market. All the leading crypto bots share certain features while differentiating themselves with unique attributes and capabilities. Hence, they can be interchanged in certain scenarios.

That being said, here are some alternative trading robots you can review:

• Chain Reaction – A popular option for beginners.
• 7Tesler – A great option that uses machine learning to increase accuracy.
• Immediate Connect – A great option for trading assets beyond cryptocurrency.
• Ethereum Code – A great option for focused Ethereum trading.
• Qumas AI – A great option for using indicators.
• BGX AI – A great option with a user-friendly interface

Each platform has its strengths and weaknesses. Bitcoineer will be more suited to some traders and trading style than others.

Is Bitcoineer a Legitimate Autotrader?

Our research into Bitcoineer did not turn up any signs of fraudulent activities. The bot partners with regulated brokers as far as we can tell and online reviews have been largely positive.

Nonetheless, there is the question of the founders’ hidden identities. We must admit that their anonymity, coupled with the secrecy around the bot’s algorithm, removes from its legitimacy.

However, these do not seem to have a bearing on the platform’s daily operations. Everything runs smoothly.

Is Bitcoineer Safe?

Online platforms are only as safe as the technologies that guard them and the expertise behind these tools. For the technology, we know that the platform uses end-to-end SSL encryption to safeguard its network.

We are also aware that it implements other forms of firewalls and security measures to ensure that legitimate users do not undermine the security of the platform, knowingly or unknowingly.

Some of these measures include two-factor authentication (2FA) which adds another layer of identity authentication to the password so that attackers are unable to access user accounts even if they obtain the passwords.

On the legal end of things, the platform implements standard KYC procedures so that only authorized users can operate verified accounts.

6 Reasons to Use Bitcoineer for Trading

Bitcoineer Trading Platform Fees and Commissions

Trading with Bitcoineer is cheap because the bot does not charge for the features and services that it offers, at least not directly. We found that the bot is a cheap trading tool that only charges a commission when you make a profit.

High Availability

Bitcoineer is always available, and considering that the crypto market trades non-stop, the bot can be used to constantly monitor the market for opportunities.

If you configure the bot properly and implement sound trading preferences and strategies, you should be able to trade foreign sessions and make a profit even while sleeping.

AI-Assisted Accuracy

AI is becoming a bigger part of modern technology because of the tremendous benefits it grants to processes. Trading is no different as AI-powered algorithms can analyse data faster and more efficiently than humans.

One of these algorithms powers Bitcoineer, so you know you’re getting a bot that can improve in its analysis of the market.

Theoretically, the bot should get more efficient at analysing the market and making profitable trades as time goes on. However, this depends on the strides made by the AI industry and the Bitcoineer team.

We must also mention that an AI algorithm doesn’t guarantee profitability.

Customisable Features

Bitcoineer has something for every type of trader. The bot comes packaged with features that are basic enough for beginners to simplify trading and understanding, yet powerful enough to achieve results. The automated mode is a prime example of this.

However, for those who know how to configure the Bitcoineer trading bot, it offers even more powerful and direct features with advanced trading tools.

High-Speed Trading with Bitcoineer

Bitcoineer can execute trades faster than humans, usually within a fraction of a second. This comes in handy when trading low time frames or during periods of high volatility where you must implement split-second order execution.

Although Bitcoineer isn’t designed especially for arbitrage or news trading, veterans can configure the Bitcoineer bot to carry out these tasks.

Automated Trading

The other side of the coin with trading bots is their automation. While the algorithm carries out the analysis, the bot carries out trade execution without human intervention.

You can use Bitcoineer to set entry and exit levels, apply risk management policies across several positions simultaneously, and create and implement trading strategies. You only need to do this once as the bot can replicate orders and sequences.

What is the Best Way to Trade with Bitcoineer?

While different traders use bots in various ways, everyone usually starts with the demo mode. This simulated environment allows traders to test the crypto markets in a risk-free way.

If you’re a beginner, you can use the demo account mode to test your knowledge of how price moves, build trading discipline, learn how to develop and implement strategies, and master risk management.

However, if you’re a veteran trader with some programming skills, you can use the demo mode to create more focused strategies, test your configurations, and even develop new indicators for profitable crypto trades.

After using the demo mode to a satisfactory degree, move to the automated trading mode if you’re a beginner, or directly implement your strategies if you’re a veteran.

You may need to monitor the Bitcoineer bot for a few days after implementing your strategy to ensure that everything works as intended.

Has Bitcoineer Ever Appeared On TV?

Although Bitcoineer is relatively new, it has been the subject of rumours that claimed that it appeared on popular TV shows for one reason or another. We dove head-first into these rumours to find the truth.

Shark Tank

Shark Tank is a US entrepreneurial show where business owners pitch a panel of investors on their ideas in a bid to get funding. If the investors like the idea, they invest.

Rumours claimed that representatives from Bitcoineer pitched investors on the show to obtain funding which they then used to develop the bot. However, our research showed that the rumours are false.

CNBC

CNBC is a television network known for shows like News Squawk and Mad Money that are centred around finance and business. Rumours arose that Bitcoineer was featured in these shows.

We researched the show’s archives but did not find any recorded episodes where Bitcoineer appeared. Hence, this rumour is false.

Has Bitcoineer Ever Been Endorsed by a Celebrity?

We found further claims online that Bitcoineer partnered with celebrities and business leaders to promote its services. As with the rumours about the TV shows, we researched.

Bill Gates

Bill Gates is the founder of Microsoft, a business leader, and philanthropist. He is not known for any affiliations with cryptocurrency.

In fact, he has voiced out his disapproval of the industry and cryptocurrencies in general. Hence, we did not need to research much to debunk this claim.

Bill Gates is not affiliated with Bitcoineer.

Elon Musk

Elon Musk, formerly called the Dogefather, has been closely affiliated with the crypto industry. In 2021, his company, Tesla, bought a large chunk of Bitcoin while he showed interest in the meme coin, Dogecoin, which earned him the nickname mentioned above.

While he exerts influence in the crypto space, Elon has not been affiliated with specific companies, especially crypto trading bots. Our findings did not reveal any connections between Elon and Bitcoineer.

Mark Cuban

Mark Cuban is another popular name in the crypto industry, especially when NFTs are concerned. While he may not exert as much influence as Elon, he is well-invested in a number of crypto projects.

Because of his affiliations with crypto companies, rumours arose that Bitcoineer is one of the companies he invested in. However, a look at this public portfolio of crypto investments shows that Bitcoineer is not one of them.

There are also no records of him talking about or endorsing the Bitcoineer bot.

5 Tips for Using Bitcoineer Safely and Managing Risk

Save Your Profits

A sound rule of trading is to always book profits. This is why traders use trailing stop losses or move their SL into profit when an open position move becomes profitable.

The best case scenario is that the position reaches your profit targets. The worst is that the market reverses. Prepare for the worst.

Also, once you have made a profit, withdraw a percentage from the platform. You can save it in a savings account or channel it into another investment. The goal here is to create a financial backup in case a black swan market event causes your trading account to lose its capital.

If there is one thing that the crypto and digital asset markets have shown over the years, it’s that anything can happen, even the once-in-a-lifetime events.

Grow Gradually

The focus of trading should be to gradually grow into a consistently profitable trader, not to make swarths of cash in a few tries. To achieve this, you’ll need to adopt a growth mindset, not a gambler’s one.

This means starting slow for beginner traders, with little amounts, and gradually increasing your capital as you become more experienced. It also involves focusing on the process and not just the outcome.

The Bitcoineer bot is a tool to achieve profitability, not a way to skip the process altogether.

Increase Your Knowledge

The best way to make good trading decisions is to understand market fundamentals. You can achieve this by focusing on certain learning materials like reports and courses, and by experience i.e., assets in the game.

A good place to start is a beginner course into capital markets or investing. Grow from there until you find yourself able to decipher complex market conditions.

Document Your Trades on Bitcoineer

Keep track of the trades you make, including the thought process behind them, whether or not they were profitable, and why. This will help you document and eventually systemize your decision-making process.

A laid-out process informs your trading strategy, and a winning strategy can make you consistently profitable.

Also, you’ll need a record of your trades for crypto tax reporting.

Follow Expert Advice

Experts help you move ahead faster as they have traversed the road that you are on and can offer insights into the best ways to proceed. Seek out crypto market experts, thought leaders and financial experts to help make your journey smooth.

An ideal scenario would be one where you have direct contact with them and can bounce ideas and investment advice off them. However, you may find that the closest you can come to some experts is reading their reports or following their social media profiles.

In this case, Twitter is a great place to begin. Exercise caution, however, as many influencers are no more than salesmen without any substantial insights into the market.

How to Use Bitcoineer - Step-by-Step Guide

To begin using Bitcoineer:

1. Create a Bitcoineer Account

Go to the Bitcoineer website and create an account by filling out the sign up form with your name, email address, and phone number. After creating the account, you’ll be sent a confirmation email with a verification link.

2. Complete the Registration Form

Follow the link to confirm your new Bitcoineer account. Next, verify your account by completing the KYC process. Submit a government-issued ID and an official document that clearly displays your name and address, like a bank statement or utility bill.

After verification, choose a broker from the list of options. Usually, the brokers are sorted according to location. Ensure the broker you choose is regulated.

3. Create a Trading Strategy

Ideally, you should have created a strategy in the demo trading feature, in which case you’d simply import it. However, you can create a new one from scratch.

4. Make a Deposit

Deposit funds into your account to access the live market. The minimum required is $250. Choose a funding method that works for you.

5. Set up Automatic Trading

Once you can access a live account, use the automatic mode to execute the trading strategy you refined in the previous steps.

Bitcoineer Assets, Market, and Options

What Assets Can You Trade Using Bitcoineer?

Bitcoineer supports over 8 cryptocurrencies including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Dash (DASH), Zcash (ZEC), Monero (XMR), and Stellar Lumens (XLM).

However, thanks to CFDs, the broker can offer more than 25 pairs by matching cryptos to major fiats like USD, EUR, and GBP. These contracts allow traders to open positions in long and short directions, essentially profiting from the market no matter the direction.

For example, a trader opens a $300 Bitcoin long position at $24,000 per BTC, i.e., they bet that Bitcoin’s price will rise. If BTC’s price rises to $26,000, the trader makes a $25 profit. However, if the price falls to $20,000 per BTC, the trader loses $50.

What Leverage Trading Options Are Available with Bitcoineer?

Bitcoineer offers up to 500:1 leverage on CFD trades. This is quite high and is unacceptable in several regions like the US.

Leverage is a way for traders to increase their potential profit margins by increasing the size of their positions without adding more capital. They essentially borrow funds from their CFD broker to do this, but the broker does not give them the funds directly.

Instead, the broker allows them to open positions larger than they would originally have been able to with their capital.

A 500:1 leverage means that traders can trade positions 500x larger than their capital. If they deposit $250, they can trade positions close to $125,000. This is risky as losses could easily eclipse the available capital.

Trade with caution whenever you use leverage.

What Are the Spreads on Bitcoineer Trading Platform?

We cannot give the exact spread as it varies with crypto pairs, the brokers, and Bitcoineer. You’ll have to check with the brokers who usually state it on their website. Note that crypto spreads change with market conditions.

What Are the Payment Methods that Are Accepted by Bitcoineer?

Bitcoineer accepts payments from various legacy methods. You can deposit USD, GBP, and EUR using the following methods:

• Credit cards: Bitcoineer accepts payments from card providers like VISA and Mastercard. This option is great for users who want quick transactions (usually within seconds), especially for international payments. However, it is also one of the most expensive payment methods.
• Bank wire: You can send funds to your Bitcoineer account through your bank’s online banking platform. However, this may be slow and expensive for users in countries where Bitcoineer doesn’t hold local bank accounts.
• Neteller: Neteller is an online e-wallet. Its transactions are fast, typically processed within seconds, and cheap. It is usually the ideal method but can be limited to certain jurisdictions.
• Skrill: Skrill is an e-wallet similar to Neteller. It is usually the most suitable method for transfers within its areas of availability.

Can I Use Bitcoineer in My Country?

What Devices Can You Use the Bitcoineer Crypto Robots Platform On?

Bitcoineer is a cross-platform application that delivers flexibility and power regardless of the device. That being said, here are the platforms that Bitcoineer works on:

• Web browser: Because Bitcoineer uses cloud technology, hence, user account dashboards can be accessed from a modern device with an updated browser. Simply navigate to the website and log into your account.
• Mobile application: Unlike several crypto robots that end support at the browser level, Bitcoineer goes further to create a mobile application that delivers a more native mobile experience and performs all the same functions as the browser version.

Final Thoughts on Bitcoineer

Bitcoineer is a trading bot that helps users automatically trade top crypto via CFDs. It is powered by AI algorithms that analyse market data and make predictions that have a high success probability.

The Bitcoineer software’s automated features also help traders run strategies with minimal oversight, making it a great day trading tool.

To use the Bitcoineer bot, navigate to the website and sign up by filling the form. Check out the how-to section for more detailed information on how to start using the bot.

Before diving in, remember to check if the Bitcoineer funding methods i.e., credit cards, PayPal, Skrill, Neteller, and Sofort banking, work for you. Also remember that the minimum deposit required is $250.

To open a Bitcoineer account, sign up on their registration page and verify your account.

Review Methodology - How We Conducted Our Bitcoineer Review

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, crypto scams. For this reason, we find it important to compare information from across the internet in our Bitcoineer review.