With Bitcoin’s market cap breaching the $1 Trillion barrier early in 2021, the cryptocurrency market has been witnessing a sort of bullish run so far in this new decade. Free to use tools like PrimeBit Profit claim to make it even easier for the traders to obtain actionable information.
The space is inundated with all kinds of genuine and unscrupulous trading robots that promise the world to the traders, but sometimes fail to live up to the expectations. That’s why we studied the PrimeBit Profit app in good detail and have created this detailed review.
What Is PrimeBit Profit?
PrimeBit Profit is a cryptocurrency trading application that apparently uses a unique algorithm to take advantage of the crypto market’s key technical indicators and historical price information, to offer market-related insights and analysis to interested traders. The makers of the app claim that the app generates quick actionable information, believed to be accurate enough for taking appropriate trading decisions.
Who Created PrimeBit Profit?
As per information available on the PrimeBit Profit website, the trading application has been created by a team of expert, talented and skilled professionals, who collaborated especially for this specific project. They maintain that their primary objective for coming together was to develop an intuitive trading platform for the digital currency markets, which would be capable of delivering important market insights in real-time. They are reportedly a team with a combined experience of several decades, and extensive knowledge of computer technology and online trading, thus giving them the right skill sets to create such a trading robot. They believe the app is both easy to use and extremely fast.
The team maintains a strong belief that their app doesn’t do away with the potential risks of the crypto trading activity per se. They also talk about not offering any kind of guarantee that you’d definitely make huge profits with their application. Rather, the PrimeBit Profit team seems to assert time and again that their aim is to deliver accurate market analysis data, almost in real-time, to the traders, so they feel empowered to take timely and potentially correct investment decisions.
Start Trading in 3 easy steps
1. Open a Free Account
The first step to getting started with PrimeBit Profit is opening an account with the application. The registration form asks for some basic details like full name, country of residence, valid email and a phone number. Your account will get activated instantly after submitting these details. However, please note you may need to provide further details and upload certain documents to fulfil the KYC requirements of the affiliated broker.
2. Make a Deposit
Post the activation of your PrimeBit Profit trading account, you can begin trading after making an initial deposit of a minimum £250. The entire deposit amount can be instantly used towards opening trading positions for cryptocurrencies of your choice, based on your own research and inputs received from the trading app. There is apparently no cap on the maximum amount of deposit you can make.
3. Start Trading
Once you have deposited money into your PrimeBit Profit account, you can start using the software and open trades based on your study. PrimeBit Profit makers claim that their advanced algorithm can instantly scan the cryptocurrency markets to unearth potentially profitable trading opportunities. The software’s interface is apparently user-friendly, enabling both expert and novice traders to use it without any major hassles.
Pros & Cons of PrimeBit Profit
Key Features of PrimeBit Profit
Upon studying the PrimeBit Profit website in good detail as well as carrying out thorough research on the Internet, we discovered that the makers of this trading app don’t provide any specific figure in terms of the payouts you can expect from it. They emphasise that it’s impossible to gauge the amount of profit you can potentially earn by trading cryptocurrencies through any such robot. This is because of the extremely volatile crypto market conditions. Nevertheless, they stress upon offering in-depth and good quality market information to help traders make well-informed decisions.
Trading with a regulated platform does away with the risk of dealing with antisocial elements and delivers a safer trading environment for everyone. Whenever you sign up with a regulated broker, you will need to confirm your identity by uploading a government-issued photo ID and/or any other proof they may ask for, in compliance with their KYC measures. From what we could gather from the PrimeBit Profit portal, they allow for easy and free-of-cost sign-up to anyone interested in the service, by asking for some basic details like the first name, last name, valid email address, country of residence, and a valid phone number. Once you’ve registered, you are asked to deposit a minimum capital of £250 to use the service.
People like easy access to their capital and should be allowed to withdraw it as and when they require. After studying some of the brokers associated with the PrimeBit Profit app, we learned that you’re allowed to withdraw profits via e-Wallets or bank transfers. Apparently, the withdrawn funds are received in the account within 7 days of initiating the request, provided all KYC requirements have been fulfilled.
Costs and Fees
The information offered on the PrimeBit Profit website suggests that the trading app is offered absolutely free of cost to anyone who successfully registers with the platform. They don’t charge any registration fee for account activation, and simply require a minimum trading capital of £250 to access the cryptocurrency markets. There are neither any transaction fees involved in making the trades nor any commission is charged on the trading profits earned. No fee is levied on the deposits or withdrawals of funds either.
After carrying out some independent research on the third-party websites, especially some closed forums, we discovered that many users have been reporting success by using PrimeBit Profit service on a regular basis. However, there is no better way of gauging the effectiveness and success of a trading app, than by trying it first-hand. User testimonials can only point you in a certain direction, but you’ll need to actually use the service to learn about its actual benefits.
Any trader who uses a cryptocurrency trading platform, whether an exchange or a brokerage website, would be well aware of how lonely one can get, whenever they run into any kind of problem. Looking into the services offered by some of the associated brokers of the PrimeBit Profit trading app, we figured that you can indeed possibly seek help from an apparently efficient customer service team, accessible through phone, email, and round-the-clock live chat service.
In order to efficiently offer its services to various traders located at different worldwide locations, PrimeBit Profit reportedly has tie-ups with multiple reputed brokerage platforms offering their services to specific geographic locations. Therefore, whenever you sign up with PrimeBit Profit, you may be redirected to one such brokerage service provider operating in your specific area, and following the pertinent regulatory KYC and AML procedures as applicable in your state/country of residence. Looking at a few of these brokerage websites, we discovered that they were indeed regulated by reputed authorities. However, that being said, it’s always a good idea to go ahead and do your own due diligence to ensure that you’re dealing with a regulated platform indeed.
Is PrimeBit Profit Legitimate?
Based on user testimonials, the PrimeBit Profit trading app appears to be an easy-to-use automated system as the market insights offered by it can be used to make well-informed and timely trading decisions. However, there’s no app out there that can guarantee you 100% profits when it comes to trading cryptocurrencies. This is simply because of the highly volatile nature of the crypto markets.
Having said that, there have been cases, as suggested by the user testimonials on the internet, wherein people have traded successfully by using the PrimeBit Profit trading application. Furthermore, the reputation of any such service can also be gauged from the kind of brokers it is associated with. We discovered that the brokers linked with the PrimeBit Profit app were well-regulated and reputed entities in the crypto trading world. However, make sure you cross-check the credibility of the broker you’re referred to before placing any trades with the PrimeBit Profit app. New users must learn to manage risk before trading.
5 Reasons to Use PrimeBit Profit for Trading
Below listed are 5 reasons to justify the usage of the PrimeBit Profit app for your trading activities, rather than using the entirely manual approach:
Seemingly superior algorithmic technology
The developers of PrimeBit Profit app claim that they have used superior algorithmic technology which allows them to deliver detailed and accurate market insights, to potentially empower the traders to make well-informed crypto trading decisions. This activity can otherwise consume a lot of time for the traders.
Going by the information on the PrimeBit Profit official website, the makers don’t charge any fees for the usage of their trading application. You are simply required to make a certain minimum deposit and can start trading cryptocurrencies of your choice. There are no transaction fees, commissions, or charges on the deposit/withdrawal of funds.
Varying levels of autonomy and assistance
For any such tool to deliver optimum results, it should allow the trader to set the appropriate autonomy and assistance levels depending upon their skills and experience. PrimeBit Profit apparently allows for such tweaking and enables traders to use it accordingly, based on their comfort levels.
Protected by leading security protocols
PrimeBit Profit makers claim that they use some of the leading security technologies, including SSL encryption, to secure their platform. In their opinion, the strict safety protocols implemented by them are effective in preventing any hacking attempts, and may thus help in safeguarding your financial and personal details.
Claims association with regulated brokerage platforms
PrimeBit Profit is purportedly associated with regulated brokerage platforms, thus providing traders with the security that they’d never be dealing with any antisocial elements. Having said that, it is always recommended to personally check and verify that the brokerage service you’ve been referred to, is indeed regulated and follows all the compliance norms.
What’s the Best Way to Use PrimeBit Profit?
Using a tool like PrimeBit Profit may make crypto trading look like a very simple activity, especially as you’d no longer be directly trading on any of those complicated exchanges or CFD trading platforms. If you’re planning to use this tool mainly to generate some passive income for yourself, it may be best to first understand its workings by switching to and observing the demo mode. It would allow you to get familiarised with its user interface and better understand its algorithm, without risking any of your funds.
You may gradually tweak the levels of autonomy and assistance required from the tool, based on your comfort level, as you go along. Doing so will enable you to watch and observe the workings of the automatic trading function, and ascertain how to best use it to your advantage. However, ensure that you set the appropriate ‘Take Profit’ and ‘Stop Loss’ levels to manage your risk. Please remember, at the end of the day, it’s nothing but a software program. A certain amount of human intervention may always be required to make it work as expected.
Has PrimeBit Profit Ever Appeared On TV?
Just like various other popular crypto trading robots, PrimeBit Profit too has been subjected to rumours of having appeared on popular TV shows like Shark Tank and Dragons Den. As you may be aware, both the shows are focused on investments and entrepreneurship. We did some research with the aim of finding out how legitimate were these rumours.
Dragons’ Den no doubt has had a history of featuring many such crypto trading software in the past, however, we didn’t find any record of PrimeBit Profit ever being a part of that show. Please note, whether this trading app appeared on Dragons’ Den or not doesn’t take away or add anything from/to its legitimacy. Not every invention out there got featured on a TV show. Although getting featured on such a platform can give a considerable boost to any product, unfortunately, it hasn’t been the case with PrimeBit Profit so far.
We also went out and researched if PrimeBit Profit ever appeared on Shark Tank, another popular investment-related TV show. It’s a well-known American reality show wherein budding entrepreneurs pitch their ideas to reputed entrepreneurs like Mark Cuban, Barbara Corcoran, Daymond John, Kevin O’Leary, Robert Herjavec, Lori Greiner, and others, who appear as judges on the show, from time to time. After digging through multiple Shark Tank seasons, our team came to the conclusion that the PrimeBit Profit tool has never appeared on any of its editions.
Has PrimeBit Profit Ever Been Endorsed by a Celebrity?
Our team also came across certain rumours that PrimeBit Profit tool has been endorsed by multiple celebrities. It’s a known fact that many celebrities have shown an interest in cryptocurrencies over the years, and some are even closely associated with such platforms. We dug a little deeper to understand if the ones that were being referred to, ever endorsed PrimeBit Profit in the past or present. Here’s what we found.
The genius behind names like SpaceX, Tesla and PayPal, Elon Musk has always been known as a big fan of cryptocurrencies. His recent tweets about Dogecoin sent the crypto’s price rocketing, appreciating by over 330%, and enabling many to make handsome profits! However, we didn’t find any association between the PrimeBit Profit tool and Elon Musk at all.
Branson is another big name frequently linked to cryptocurrencies. He is a very big name in the business world who has also appeared on multiple entrepreneurship-focused TV shows, including Shark Tank. There was an interview some time ago where he clarified that he hadn’t endorsed any crypto trading application, so we can safely assume that rumours of him backing an app like PrimeBit Profit are false indeed.
Although the superrich founder of the Microsoft brand is a well-known supporter of cryptocurrencies, including Bitcoin, we couldn’t find any interview where he categorically mentioned endorsing any crypto trading robot such as PrimeBit Profit.
The celebrity chef had once tweeted about his immense love for food and cryptocurrencies. There’s a good chance that Gordon is personally heavily invested in the cryptocurrencies too; but we couldn’t find any evidence of him directly endorsing any kind of crypto trading app, including PrimeBit Profit.
5 Ways You Can Maximise Success With PrimeBit Profit
Our team regularly reviews a good number of trading bots that keep getting launched in the market from time to time. One thing they’ve discovered over the years is that there’s not much truth in the popular perception that crypto trading is quite like betting. On the contrary, it requires regular practice and consistent usage of certain trading strategies. Below, we’ll acquaint you with some best practices that can help you maximise your success with PrimeBit Profit.
Whenever you begin using any such tool, and especially if you’re new to crypto trading, you must start small and gradually increase the values and volumes of your trades. In that regard, you must deposit no more than the basic minimum of £250 to get started with PrimeBit Profit. The idea is to use proper risk management settings, so as to avoid major losses along the way. Additionally, it’s very important to learn the ropes of the trade before going all in.
Save Some Profits
Once you start using PrimeBit Profit on a consistent basis, there may be a very good possibility that you’d earn profits from the trading activity. Please ensure that you withdraw a percentage of these profits to your bank account, from time to time. While it’s healthy practise to leave some of your earnings in the trading account, for reinvestment purposes, you should at least safeguard your basic profit by withdrawing it from the platform.
Follow the Advice of Experts
Regardless of whether it’s about trading or any other business, it is very important to continue learning and benefitting from the advice offered by experts in the concerned field. Towards this end, you can become a part of various trading-related groups on social media platforms and refer to other forms of online/offline media to learn about the nuances of crypto trading, from people who’ve been in the field for a long time.
Keep a Record for Tax Purposes
Many people forget that the profits made from the crypto trading activity may actually be taxable in their countries. The amount of tax you may be required to pay on any such gains would vary from country to country, and depend specifically on the cryptocurrency laws applicable in your region. Hence, it is very important to maintain proper records of all your crypto transactions.
Only Invest What You Can Afford to Lose
Last but not least, you should never allow greed to get the better of you while trading cryptocurrencies. Considering the high volatility of crypto markets, there may be times when you’d end up losing a good portion, or perhaps all of your investment. Therefore, you must never invest an amount that you cannot afford to lose. A good idea would be to maintain a separate bankroll for any such trading activity and learn some basic bankroll management tips to safeguard your trading capital.
Our Conclusion: PrimeBit Profit
To summarise, we‘d like to state that based on the information available on PrimeBit Profit’s official website, the brokers the app is affiliated to and the type of trading platform it offers, it comes across as a very useful tool for crypto traders, to register consistent profits. Though you can use it for auto-trading too, the app encourages users to explore its different automation and assistance levels, to help them find just the right mix, to benefit the most from its real-time market insights. PrimeBit Profit claims to be compatible with all devices (desktop & mobile), as long as they have working internet connectivity. In case, you’re interested in some more similar automated trading apps which have been positively reviewed by our team, you must definitely check out BitcoinRush, Bitcoin Trader and Bitcoin Billionaire.
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Frequently Asked Questions
Yes, the makers of PrimeBit Profit claim that you don’t necessarily require any prior trading knowledge to benefit from the tool.
The app is completely free to use and doesn’t involve any kind of transaction fee, commission, deposit/withdrawal fee etc. You just need to deposit a £250 initial trading capital to use its services.
The creators of this app don’t specify any amount you can earn with regular use of this app. The profit you make will depend entirely upon how well you use the market insights reportedly provided by the app.
The makers claim that they use leading security protocols including the SSL technology to safeguard personal and financial details of the users.
You can use this trading robot on any desktop or mobile device as long as it has a working internet connection.
No. The tool hasn’t earned any celebrity endorsement yet.
You can register with PrimeBit Profit by simply providing your name, email address, country of residence and a working phone number. However, when you try using your deposited capital on the affiliated broker platform, you may be asked to upload government-issued identity documents to verify your credentials (as per the broker’s KYC norms).
No. This trading app hasn’t appeared on any popular TV show like Shark Tank or Dragons’ Den yet.
Disclaimer: All testimonial photos are stock imagery and do not represent the people behind the feedback.