Bitcoin Prime Review – Scam or Legit?

There are many ways to trade and invest in the cryptocurrency market, with one of them is being via automated trading robots like Bitcoin prime. This Bitcoin trading robot claims that it has the technology to scan the cryptocurrency market and use sophisticated algorithms that can generate high returns for its users.

But as so many scam trading robots exist in the market, we are going to review Bitcoin Prime and help you decide whether you should use it or not. In this In Bitcoin Prime Review 2021, we are going to cover the robot’s pros and cons, success rate, technology, fees, minimum deposit, and more.

What is Bitcoin Prime?

Bitcoin Prime is an automated trading service that allows users to make a steady profit by connecting its software to a third-party brokerage firm. In other words way, Bitcoin Prime offers investors to use its trading software for free, and in return, the team behind Bitcoin Prime claims that its software can generate high returns for those who make a deposit in its trading robot.

Notably, the Bitcoin Prime system uses Artificial Intelligence (AI) and machine learning technologies to be able to scan the cryptocurrency market and find successful trades. According to reviews online, the robot automatically trades on more than 50 cryptocurrencies including some of the most popular and liquid crypto coins in the market like Bitcoin, Ethereum, Litecoin, DASH, Dogecoin, Bitcoin Cash, and many more. As such, when you use Bitcoin Prime, you can activate the robot or trade manually through the partner broker’s trading platform.

Based on the terms and conditions page on the robot’s site, Bitcoin Prime is operated by Profitoro Ltd and was founded by Steve Mckay.

Bitcoin Prime Pros & Cons

Like many other Bitcoin robots operating in the market, there are pros and cons of using Bitcoin Prime. But to help you make a decision of whether you should start trading with this software, here are some of the main key points we have found during our Bitcoin Prime review.

Bitcoin Prime Pros

• Great software for beginners that want to enter the crypto market
• Bitcoin Prime partners with regulated brokers
• Using the Bitcoin Prime system is free of charge
• The system is available on web-browser and on mobile devices (iOS and Android)
• Positive reviews online
• Low minimum deposit requirement of just $250
• Bitcoin Prime discloses crucial information on the site including terms, disclaimer and privacy
• Support service is available

Bitcoin Prime Cons

• It is not clear how accurate is the bitcoin Prime system
• Bitcoin Prime is a high-risk investment

Bitcoin Prime Services

During this review, we found out that Bitcoin Prime focuses on one area – automated trading service in the cryptocurrency market. This means that if you want to get into the crypto market without taking any action and trading the markets on your own, then Bitcoin Prime is a great choice. The robot simply does all the work for the trader.

Further, as Bitcoin Prime is primarily a financial software company, it has also developed a network and the technology to connect its clients with top brokerage firms around the world.

How Does Bitcoin Prime Work?

In simple terms, Bitcoin Prime is an automated trading software that uses sophisticated programming languages to scan the crypto market and place thousands of orders simultaneously in a process that is called High-frequency trading (HFT). This is a type of algorithmic trading that involves the buying and selling of securities such as stocks, FX currency pairs, futures, and digital assets at extremely high speeds.

To execute the trades, Bitcoin Prime works in collaboration with regulated CFD brokers that are authorized to collect funds from users and place orders for the robot’s clients. Additionally, the vast majority of CFD brokers offer leveraged trading, which means the Bitcoin Prime focuses on small price fluctuations in cryptocurrencies prices, and thus, reduces the risk of a negative return.

To execute the trades, Bitcoin Prime works in collaboration with regulated CFD brokers that are authorized to collect funds from users and place orders on behalf of the robot’s clients. Additionally, the vast majority of CFD brokers offer leveraged trading, which means that Bitcoin Prime focuses on small price fluctuations in cryptocurrencies’ prices, and thus, reduces the risk of a negative return.

With this in mind, if you want to start trading with Bitcoin Prime automated software, below you can find the steps you need to get started.

Step 1: Open an Account

To get  started with the account creation process, the first thing you need to do is to head over to Bitcoin Prime’s website and register for an account. At Bitcoin Prime’s homepage, you’ll see a registration form where you are asked to submit your first and last name, email address, country code, and phone number. Then, simply click on the ‘Register’ Now button.

Step 2: Make a Deposit

Once you’ve signed up on Bitcoin Prime, you will be redirected to a brokerage firm in your country that partners with Bitcoin Prime. There’s no mention of the minimum deposit requirement on the robot’s site, however, we found that you are required to make a deposit of at least $250 in order to able to use the robot’s technology.

To do that, you will have to make a deposit through one of the provided payment methods of the assigned broker. On that note, it seems that most of the Bitcoin Prime partner brokers offer you to make a deposit using some of the most used payment methods available like credit and debit card, PayPal, e-wallet solution, bank wire transfer, etc.

Step 3: Activate the Bitcoin Prime Robot

At this point, you have an account with a brokerage firm and a secure connection to the Bitcoin Prime software. Now, all that is left for you to do is to set the parameters so they suit your preferences. This includes the risk, stop loss, take profit, amount to invest, etc. Then, once you have set all the parameters, you can activate the robot and enable it to start scanning the crypto market and place orders on your behalf.

From this moment onward, the only thing that is left for you to do is to monitor the robot’s performance several times a day or week (depending on the Bitcoin Prime performance) and make the necessary changes if required.

Bitcoin Prime Success Rate

One of the most important factors to consider when you choose an automated crypto robot is the success rate of the robot’s algorithm. However, while many automated trading robots claim they can win as high as 99.4% of the executed trades, Bitcoin Prime, on the other hand, does not mention any information about its success rate.  

Regardless, many reviews on the broker’s site as well as over the internet approve that Bitcoin Prime has succeeded to develop an accurate and stable automated trading software.

Bitcoin Prime Fees

According to Bitcoin Prime’s site and reviews online, we found that using the robot’s system comes at no cost. This means you can register without paying any fee and make a deposit to one of the partner brokers. However, you might have to pay some trading fees for the third-party broker, though it seems that the vast majority of Bitcoin Prime’s partner brokers charge the buy and sell spread only.

Is Bitcoin Prime a Scam?

Clearly, there are many scam automated trading systems out there, which makes the decision to start trading with a certain Bitcoin trading robot even more difficult. However, from testimonials and user reviews online and after testing the software, Bitcoin Prime seems to be very legitimate and real. First, the broker does not make any unreasonable claims about the success rate of its software. Then, another factor to consider is that Bitcoin Prime discloses crucial information on its website including the terms and conditions, disclaimer, and privacy policy.

Finally, in the case of automated trading robots, you need to find out if the team offers a support service and whether the robot has positive reviews online. During this review, we also found lots of reviews from people who already used the Bitcoin Prime trading service and claim it can actually generate profits. Plus, the fact that you can contact Bitcoin Prime any time of the day via email or submitting a ticket form shows the credibility of this company.

With that said, you should also take into consideration the risk of using this robot. Like any other investment you make, there is no guarantee that the robot will generate high returns for you and there’s, obviously, a risk of losing your money.

Bitcoin Prime App

Bitcoin Prime also offers a mobile trading app for its users. The mobile app can be accessed when you complete the registration process with the robot’s partner broker.

Crucially, the process of using the Bitcoin Prime system works in a way that once you complete the registration form – only then you’ll be able to download the app from one of the authorized online stores and get access to your new trading account.

Bitcoin Prime Payments & Withdrawals

As we mentioned previously, due to regulatory constraints, Bitcoin Prime is not authorized to directly collect and hold funds from clients. Thus, it partners with regulated brokers around the world and has the technology to match the right broker in the client’s country for each new client that completes the registration form. This means that all of the deposits and withdrawals are handled by the partner broker and not by Bitcoin Prime, which is essentially a fintech software company. Nonetheless, most brokers allow you to deposit funds bank transfer, credit and debit cards, PayPal, and e-Wallet solutions.

Bitcoin Prime Minimum Deposit

The minimum deposit to get started with Bitcoin Prime is $250, or the equivalent in your local currency. This is a payment you make for the partner broker and not directly for using the Bitcoin Prime system.

Bitcoin Prime Customer Support

Unlike the vast majority of Bitcoin trading robots that typically do not provide any contact information on their websites, Bitcoin Prime offers a customer support service via submitting a ticket form for those who want to get an answer on how to open an account, set the parameters, and use the software. As such, if you need to contact Bitcoin Prime’s support team, all you need to do is to visit the robot’s site and submit your first and last name and your email address.

How to Use Bitcoin Prime

If you think it  is worth investing in Bitcoin Prime and use its crypto automated trading software, then you’ll have to follow the steps below in order to get started:

1. Register at Bitcoin Prime: The first step you need to take is to visit the Bitcoin Prime website and enter your personal details in the registration form at the right side of the page.
2. Complete Registration at the Assigned Broker: Once you have been redirected to the partner broker, you will then need to register on the broker’s site as well. Take note that because Bitcoin Prime partners with regulated brokers only, it means you’ll also have to verify your identity before you are allowed to trade with real money.
3. Add Funds: At this point, you need to make a deposit of at least $250 on the assigned broker’s platform. Once you transfer the funds, Bitcoin Prime connects its software to your new live brokerage account.
4. Activate Robot: Now, you can activate the Bitcoin Prime robot and let it scan the market. To maximize the chances of your success, we do recommend that you set stop loss and take profit orders and monitor the account as much as possible.

The Verdict

Even though automated trading robots have been widely used by traders and programmers in the markets for more than three decades, cryptocurrency automated trading systems are relatively new. That said, there’s a huge advantage for new trading robots that enter the crypto market due to the lack of participation of large financial institutions and other HFT trading software.

And, while there are many other legit Bitcoin robots in the market like Bitcoin Profit and Bitcoin Systems, this Bitcoin Prime review can confirm that this automated trading software is completely legit and has the ability to generate passive income for users if used correctly. As a matter of fact, even though Bitcoin Prime is a relatively new trading robot, many users claim that it is one of the best Bitcoin robots that currently operate in the market. To use the software, you are required to register for an account and make a deposit of $250 on one of the robot’s partners’ brokers.

With that said, as the crypto market is a high-risk and volatile sector, we suggest you make a low initial deposit and test the Bitcoin Prime software on a demo account before you risk real money.

There is no guarantee you will make a profit when using this provider. Proceed at your own risk.  

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