|Support Types||Email , Chat , Phone|
|Languages||English , German , Italian , Dutch , Other Languages|
|Minimum 1st Deposit||$100|
|Minimum Trade Amount||$25|
|Free Demo Account||Open Demo|
|Deposit Methods||Debit & Credit Card , Bank Transfer , Other Methods|
|Trading Currency||USD , EUR|
|Account Currency||Bitcoin , Ethereum , Ripple , Litecoin|
|US Traders Allowed|
- UK-based Broker
- Fast Trade Execution Speed
- Ideal for Beginners
- No Mobile App
- Limited Number of Cryptocurrencies
Bitcoin Compass Review
Today, everyone heard about Bitcoin, Ethereum and other cryptocurrencies and many people are actively investing in this newly emerged asset class. Back in 2017, when Bitcoin skyrocketed in price more than 1,900%, it attracted the attention of many individual and professional investors. Many people have made a fortune and became millionaires or even billionaires, while those who invested at the peak of the market are still waiting to recover the losses. While many investors still have doubts about the long term value of Bitcoin and its fair price, what is clear now that it became widely popular asset class and its price volatility presents great opportunity to make money trading cryptocurrencies. Many individual investors are reporting that they are able to make up to $4,000 in daily profits by actively trading cryptos and some professional traders are making considerably more. One of the most popular tools that many individual investors use to trade Bitcoin and other cryptocurrencies are trading robots such as Bitcoin Compass. It is essentially a trading software that runs a computer program and places trades on your behalf. It removes the human element from the trade and you don’t need to be present in front of your computer all the time. The software analyses the market making a recommendation to Buy or Sell and executes trades on your behalf. Bitcoin Compass is designed to make a large number of small trades each day and has trade accuracy (or profitable trades) of 70-80%. And as long as you make more winning trades than losing ones, you will close the day in profit.
The beauty of Bitcoin Compass and other similar robots such as Bitcoin Evolution, Bitcoin Profit, Bitcoin, Revolution or Ethereum Code is that their software is very simple and easy to use, while still having powerful trading algorithms. We have completed this Bitcoin Compass review to share our experience with this cryptocurrency trading robot and our trading results. Please read this Bitcoin Compass review to find out if this is a reliable trading robot and if you can make money with it.
Ways to Invest in Cryptocurrencies
Since Bitcoin went mainstream in 2017, there were a number of companies that entered the market and launched various platforms to allow people to invest in this new asset class.
The first was cryptocurrency exchanges, which are professional trading venues that allow people to trade cryptos with each other. Crypto exchange has been designed by professional trades and have advanced trading terminals and have hundreds of digital tokens listed that investors are able to trade. However, there is one major disadvantage when it comes to investing in cryptos with the exchange and this is a security risk. When you invest in Bitcoin on the exchange, your digital assets will be pooled with other clients’ assets and kept in the wallet on exchange. But that makes the exchanges quite vulnerable to hacker attacks and we have seen many cases when digital assets were stolen from the exchanges. Given the anonymity of the Bitcoin and other cryptos, once they are stolen, it is impossible to trace and recover them, so they are lost forever.
Another popular way to invest in cryptos is with the CFD broker. They have been around for many years and are very popular among individual investors, especially those who trade forex and other traditional asset classes. And when cryptocurrencies went mainstream, many largest CFD brokers were fast to order this new asset class to their offering. CFD brokers have two main advantages when it comes to investing in cryptos compared to the exchange.
CFD brokers require a low initial investment amount in order for you to start trading. The reason for that is that you don’t have to buy an underlying asset (and therefore pay the full price) but just need to put enough money to cover the price difference (or so-called spread). That is why its called Contract for Difference. You can start investing in Bitcoin with as little as $25 and while the initial investment is quite low you will still benefit from the full price upside. That also makes a return on investment considerably higher when trading CFDs. The fact that you don’t own an underlying asset also removes the security risk. While CFD brokers are not good for long-term investments, they are perfectly suited for active traders who just want to make money on the price swings. And such a volatile asset class as cryptos present great opportunities for that.
Bitcoin Compass Trading Robot Features
One of the key features of the Bitcoin Compass is powerful, yet easy to use, a trading platform that can suit both experienced and beginner cryptocurrency investors. If you are making your first steps in trading, you will find that Bitcoin Compass has solid algorithms and fast execution capability. Its platform design is highly intuitive and it is very easy to adjust the settings to customise your trading strategy and style. Many individual investors are reporting that they are able to generate up to $4,000 in daily profits while trading with Bitcoin Compass on autopilot while spending only up to 30 min per day in front of the computer.
Bitcoin Compass trading algorithms are designed in such a way that it makes a large number of smaller trades and hold trading positions for a few seconds or minutes. While not all trades will be profitable, the algorithm accuracy is pretty good and was around 80% when trading on a demo account. So as long as you make more winning trades a day then losing ones, you will close the day in profit. Of course, in times of market stress and when prices are declining sharply, it is possible to lose money so we encourage you to monitor the performance of your trading strategy regularly and adjust trading settings where necessary.
Bitcoin Compass trading robot is affiliated with ETC Markets CFD broker, a company registered and operating out of the United Kingdom. This CFD broker specialized in cryptocurrencies only and therefore not regulated by the financial regulator. Once you open an account with Bitcoin Compass, you will also be registered with the CFD broker so you don’t have to go through account opening process twice.
How to Start Trading with the Bitcoin Compass
Once you decide to join the cryptocurrency investment game, all you have to do is register with Bitcoin Compass and deposit some funds with the broker. Depending on your country of residence, Bitcoin Compass may connect you to a different broker. Bitcoin Compass works with a number of trading venues and will recommend the best broker available in your country. As we have been registering from the UK, we had an account with ETC Markets but if you are based in a different country the broker might be different.
Step 1 – Open an Account
First, you need to register with Bitcoin Compass by providing basic details such as your name, email address and telephone number. Once that is done, you will be able to log into the Bitcoin Compass trading room, Bitcoin Compass will also automatically register you with the CFD broker based on your country of residence so you don’t have to go through the process twice. Just remember to check that the contact details you provided are correct. The customer service representative from Bitcoin Compass will contact you shortly after you opened the account to guide you through the process.
Step 2 – Deposit Funds
Before you can start investing in the cryptocurrencies with Bitcoin Compass, you will need to deposit the funds with the broker. You can transfer money using debit or credit card, bank wire or a number of other methods. You can deposit funds in Euro, US Dollars and British Pounds. You will also need to complete the KYC and AML process to comply with all the regulations by providing a copy of your passport and proof of address. The customer service representative can help and guide you through the process and you can start trading almost immediately.
Step 3 – Adjust Trading Settings and Start Autotrading
Once the KYC and AML process is complete and funds are deposited with the broker you can start investing with the Bitcoin Compass. You can also adjust the trading settings to suit your trading style and risk appetite. You can set Trade Amount, Daily Take Profit and Daily Stop Loss as well as Maximum Number of Concurrent and Daily Trades. You can invest in Bitcoin, Ethereum, Litecoin and Ripple and trade against EUR or USD.
Before start trading in real money, Bitcoin Compass also gives you an opportunity to test its trading algorithms in a Demo Account with $1,500 in virtual cash. While completing this Bitcoin Compass review, we run trading on a demo account and have made $425 profit within an hour with a trade accuracy of about 80%.
Many of our readers who are investing in cryptocurrencies with the Bitcoin Compass trading robot are reporting that they are able to generate up to $4,000 a day in passive income. Of course, you can’t expect to make a profit every day and sometimes you can lose so it is important to use the Daily Stop Loss and not invest more than you are prepared to lose.
Is Bitcoin Compass Scam or Legit? Our Verdict
After completing this Bitcoin Compass review, we can say that this trading robot is legit and you can make money with it. Its intuitive trading platform is very easy to use and ideally suited for beginner investors. But many professional investors are investing in cryptocurrencies with Bitcoin Compass too and generate a consistent profit. The CFD broker that Bitcoin Compass is connected to (in our case, ETC Markets) has a solid trading platform and fast trade execution speed. While the broker is not regulated, like everyone else operating in the cryptocurrency trading, it is located in the UK and does not have negative publicity. While sometimes you can find some negative reviews about some brokers, it is important to get into the details and understand what happened. Quite often, negative reviews are published by competitors who use bribery and dirty tricks to put away customers. Usually, these reviews are quite generic so if you come across anything like that always investigate the case. This is general advice related to anything you do on the internet. So when deciding which venue to use when investing in cryptocurrencies, chose wisely and do the homework.
Bitcoin Compass Review – Conclusion
Our experience with Bitcoin Compass was positive, the customer service was good and we managed to sort out some of the technical issues we had very quickly. Bitcoin Compass offers 24/7 support available via chat or email and the response was pretty fast. The account opening process was very smooth as well.
But the most important question that everyone is asking is – “Can I make money with Bitcoin Compass” and the answer to this question is also YES. We traded for about an hour with the demo account and achieved $425 profit with about 80% trade accuracy which is considered to be quite a good result. You can invest both EUR and USD and trade the most liquid cryptos such as Bitcoin, Ethereum, Litecoin and Ripple. While some investors think that the trading universe might be too small, we think that these 4 major cryptos give you good exposure to the market. Bitcoin Compass also doesn’t have a mobile app but we also don’t see it as a big problem as you will be trading on autopilot anyway and only need to monitor your trading positions occasionally.
But the main advantage of the Bitcoin Compass trading robot, and other similar ones such as Bitcoin Evolution, Bitcoin Trader, Bitcoin Revolution and Bitcoin Code, is that they allow you to invest in cryptocurrencies on autopilot and make a profit even when you sleep. Inexperienced investors will find it very easy to set up and use and can start trading in a matter of minutes after opening an account. But as with every investment, it is important to remember about the risks involved and not invest more than you are prepared to lose. We also recommend start trading with small amounts to get familiar with the trading strategy and trading platform.
We would be delighted to hear from our readers about their experience of investing in cryptocurrencies with Bitcoin Compass or other similar trading robots. Please send us a direct message or share your feedback in the comments section. We and our community would be delighted to hear from you.