If you’re thinking about trading digital currencies online but have little experience in this investment field – it could be worth considering Bitcoin Profit. In a nutshell, Bitcoin Profit is an automated robot that can trade cryptocurrencies on your behalf.
But – is Bitcoin Profit legit or is it simply another scam? In Bitcoin Profit Review 2021 – that’s exactly what we intend on finding out.
What is Bitcoin Profit?
Bitcoin Profit is an online platform that offers automated robot services. That is to say, once you open an account and make a deposit, the Bitcoin robot will place buy and sell orders on your behalf.
This means that you can trade popular digital currencies like Bitcoin without needing to have any experience. In fact, this is crucial, as the only way you can make consistent gains in the online trading scene is to understand technical analysis and fundamental research.
Plus, you also need to dedicate ample time to evaluating the markets and placing orders. But, by using an automated robot like Bitcoin Profit – you can sit back and allow the technology to trade for you.
Unlike a more traditional robot that you would install into a third-party platform like MT4 or MT5 – Bitcoin Profit does not require you to download any software. On the contrary, you can access the technology online or via the Bitcoin Profit app.
Bitcoin Profit Pros and Cons?
Our comprehensive Bitcoin Profit review found that the robot comes with both its pros and cons. You can find our concluding thoughts on the crypto trading platform below.
Bitcoin Profit Pros:
- Perfect for beginners and those without an understanding of technical analysis
- Low minimum deposit of just $250
- No fees charged by the provider
- Fully-fledged mobile app
- Trades cryptocurrencies 24/7
- No requirement to download or install any software
Bitcoin Profit Cons:
- No sure-fire way of verifying profit claims
Bitcoin Profit Services
Our Bitcoin Profit review found that the provider specializes in just one service – its proprietary cryptocurrency trading robot. As such, you know exactly what you are getting when you register with the platform.
How Does Bitcoin Profit Work?
Although our Bitcoin Profit review found that the platform is suitable for skillsets of all shapes and sizes – it’s best to have an understanding of how the robot works before committing. With this in mind, below we outline the steps involved when using Bitcoin Profit to trade.
Step 1: Register an Account
The first step is to visit the Bitcoin Profit website and register an account. On the right-hand side of the homepage, you will see a signup form. Enter your first and last name, email address, telephone number, and click on the ‘Register’ button.
Step 2: Meet Minimum Deposit
Now that you have registered an account, you will need to make a deposit. Our Bitcoin Profit review found that the minimum deposit required by the provider is $250. It is important to note that Bitcoin Profit does not collect the deposit from you directly.
Instead, you will be redirected to one of its partnered brokerage sites. This is crucial, as without a broker on your side, you won’t be able to use the automated trading robot.
In terms of supported payment types, our Bitcoin Profit app review found that most of the provider’s partnered brokers allow you to use a debit/credit card or bank wire. Some also support popular e-wallets like Paypal.
Step 3: Set Parameters
At this stage of our walkthrough, you should have an account with Bitcoin Profit and have met the minimum deposit threshold of $250. In theory, you can start using the automated robot straight away. However, it’s best to have a look at the trading parameters to ensure they align with your financial goals and appetite for risk.
For example, if the pre-settings have a risk-reward ratio of 1:4 but this is too high for you – you instead elect to reduce this to 1:3. Either way, just make sure you are happy with all of the pre-defined trading parameters before activating the robot.
Step 4: Activate Robot
Once you activate the robot, you are giving it the authorization to start placing entry and exit orders on your behalf. If you’re completely new to trading, then this means that the robot will initially scan the cryptocurrency markets looking for potential trading opportunities.
It will find suitable positions to place by deploying technical indicators in an autonomous manner. Then, when a trend has been discovered, the robot will place a buy or sell order on Bitcoin – depending on which way it thinks the markets will go.
Ultimately, there is nothing more for you to do at this stage other than monitor how the robot is performing. Our Bitcoin Profit review found that the provider claims you can withdraw your capital at any time. In order to do this, you will need to initiate a withdrawal request with the broker you signed up with in Step 2.
Bitcoin Profit Success Rate
Unlike other trading robots in this space, our Bitcoin Profit app review found the platform does not make any claims about its success rate.
This is unusual, as most robot platforms that we have previously come across make super-bold claims of unprecedented success rates in excess of 90%. But, the fact that this is not a tactic employed behind the Bitcoin Profit team is most definitely a plus sign.
Bitcoin Profit Fees
Bitcoin Profit does not charge any fees – meaning that you can register and use the robot for free. If you’re wondering how the provider makes money, it likely receives a commission from its partnered brokers. Like all online brokers, there is every chance that you will need to pay a fee to trade.
This means that every time the Bitcoin Profit robot places an order, a commission might come into play. With that said, many Bitcoin trading sites charge super low fees anyway, so as long as the robot is performing well – this shouldn’t be an issue.
Nevertheless, it’s always a good idea to check what fees and commissions will apply before you register with the partnered broker.
Is Bitcoin Profit a Scam?
There are a plethora of Bitcoin trading robots active in the online space – so knowing whether or not your chosen provider is a scam can be challenging. The first thing we typically look at is the success rate claims made by the platform.
But, as we noted earlier in our Bitcoin Profit app review, the provider does not make any such claims on its website. Next, we looked at various other Bitcoin Profit reviews and the general consensus was that the robot does perform well.
With that said, there are no guarantees that you will make money by using Bitcoin Profit – which is stated by the provider itself. The best way to approach the robot is to first use it in demo mode. If you find that the robot is outperforming the market, only then might you consider switching over to real mode.
Bitcoin Profit App
Our Bitcoin Profit review found that the platform can also be accessed via a fully-fledged mobile app. Compatible with both iOS and Android devices, the app can be downloaded free of charge.
However, it’s best to avoid searching for the app directly from the iOS or Google Play stores, as there are many applications with a similar name and interface. As such, it’s safer to download the app from the link sent to you once you register with Bitcoin Profit.
Bitcoin Profit Payments & Withdrawals
When it comes to payments, our Bitcoin Profit review found that this department is taken care of by the brokerage site you are partnered with. This means that when you make a deposit, the broker will facilitate the payment.
As noted earlier, supported payment types will vary from broker to broker, but in most cases, debit/credit cards and bank transfers will be accepted.
In terms of withdrawals, Bitcoin Profit notes that you can make a cashout request at any given time directly with the broker. In most instances, it’s just a case of logging into your brokerage account and requesting a withdrawal.
Bitcoin Profit Minimum Deposit
The Bitcoin Profit minimum deposit threshold stands at $250. If you’re not using US dollars, the minimum will be the equivalent of $250.
Bitcoin Profit Customer Support
If you are yet to sign up with Bitcoin Profit, you can contact the team directly on its website. Simply click on the ‘Contact Us’ button and fill out the support form. A member of the Bitcoin Profit will reply to your question via email.
How to Use Bitcoin Profit
If you like the sound of Bitcoin Profit and wish to get started with an account right now – follow the quickfire steps outlined below.
- Register: First and foremost, visit the Bitcoin Profit website and register an account.
- Broker KYC: You will not be redirected to a suitable broker – where you will be asked to provide some personal information. In most cases, you will be asked to upload a copy of your government-issued ID as per KYC laws.
- Deposit: You will need to deposit a minimum of $250 – with the payment being processed by the respective broker.
- Activate: Finally, activate the Bitcoin Profit robot and it will begin to scan the markets and place trading orders on your behalf.
Note: Our Bitcoin Profit review found that its trading software comes with pre-set parameters. As such, there is no requirement to do anything to use the robot straightaway. However, you also have the option of adjusting the settings so that they are more aligned with your financial goals.
In summary, if you’re looking to start buying and selling crypto assets but don’t have the time or knowledge to consistently outperform the wider market – Bitcoin Profit is well worth considering.
In opening an account with the provider and meeting a small minimum deposit of just $250 – the provider’s native software will trade on your behalf.
With that said, just make sure you do your own research before taking the financial plunge and ultimately – proceed at your own risk. After all, there is no guarantee that you will make any money.
There is no guarantee you will make a profit when using this provider. Proceed at your own risk.