- Fast Execution
- Automated Trading
- Smart Algorithms
|Support Types||Phone , Email , Live Chat|
|Languages||12 Different Languages|
|Minimum 1st Deposit||$100|
|Minimum Account Size||$50|
|Minimum Trade Amount||Any|
|Maximum Trade Amount||No maximum|
|Bonus||Tax Free Profits|
|Free Demo Account||Open Demo|
|Regulation||Regulated CFD Broker|
|Deposit Methods||Credit and Debit Cards , Bank Transfer|
|Withdrawal Methods||Credit and Debit Cards , Bank Transfer|
|Trading Currency||All Major Cryptocurrency Pairs|
|Account Currency||USD , EUR|
|US Traders Allowed|
- Regulated CFD Broker
- Good for Beginners
- More Strick on Compliance
Bitcoin Miner Review
If you are investing or have been looking at how to make money online, you definitely must have heard about opportunities of investing in cryptocurrencies. In 20017, new digital asset class went mainstream and digital coins such as Bitcoin, Ethereum and many others skyrocketed in prices. While many people saw it as a bubble and prices of all major cryptocurrencies indeed went down a lot in 2018, there was no turning back and Bitcoin, Ethereum and other altcoins became an asset class on its own with significant daily trading volumes. Many investors and traders took an opportunity and joined the crypto game which presented adventurous investors with an opportunity to make a lot of money fast (or lose sometimes). Currency trading is one of the most popular asset classes that retail investors trade. There is a large number of currency pairs that it is possible to trade against each other and even little price swings present a lot of opportunities to profit. Currency traders are not investing long terms and most of them are day traders which mean they do not hold their trading positions for too long. Same goes for many cryptocurrency traders. Bitcoin traders place a large number of smaller trades and try to close the positions as soon as they make some profit. Thus the profit on each trade might not be huge, but if you add up all those little profits it all comes up to a decent number at the end of the month. Also, day traders rely on technical analysis a lot and study price charts looking for signals when buy or sell their positions. Because of that, forex and crypto markets are also very popular among traders as they can program computer algorithms to do technical analysis, make recommendations and even place automated trade orders. While human abilities are limited, computers are not getting tired and can follow the market 24/7 making buy and sell orders. And many day-traders who use trading robots can trade cryptocurrencies and make money even when they sleep. One of such cryptocurrency trading robots is Bitcoin Miner which we are going to cover in this review.
What is the Bitcoin Miner Robot?
Bitcoin Miner is an automated trading platform that conducts technical analysis on Bitcoin and other cryptocurrency prices, based on which it provides recommendations for buy and sell signals and also can place orders on your behalf based on pre-set parameters. So, once programmed, you can leave Bitcoin Miner on its own and it will be trading even when you sleep. Also, please don’t get confused with the name, Bitcoin Miner has nothing to do with actual Bitcoin mining.
As you might have read in some of our other reviews, there are two distinct types of cryptocurrency trading robots.
The first category is suitable for more advanced traders who understand technical analysis and price charts. This type of crypto robots is more of research or analytical tools which allows professional traders to create their own trading strategies based on signals they choose. They also allow to connect to a number of crypto exchanges via API and will be pushing trading orders to those exchanges. Usually, such crypto robots are sold for a one-off price or a monthly subscription fee. The good thing about these crypto robots is that you actually don’t hold any digital assets with them so they can’t get hacked (although exchanges could) and they are extremely customisable. One of the main downsides that put away many new crypto investors is that they require a pretty good understanding of technical analysis and decent technical skills. Cryptohopper, HaasBot, Gun Bot and Zignaly are some of the examples and we have covered them in a number of reviews here at EthereumTrading.pro.
Another category would be crypto trading robots similar to Bitcoin Miner which is ideally suited for crypto investors who just starting to trade and do not understand technical analysis as much. Crypto robots such as Bitcoin Miner are very easy to use and they are usually affiliated with one or few CFD brokers. The trading algorithms are fully pre-build and all you have to do is to set basic setting such as currency pairs you want to trade, a number of trades per day, minimum size, stop loss and few other parameters. You will trade CFDs and won’t be exposed to the risk of the exchange being hacked but can still all the benefits of investing in cryptos. Bitcoin Code and Ethereum Code are one of such crypto robots.
Is Bitcoin Miner Robot Scam or Legit?
Bitcoin Miner is affiliated with 24option CFD broker, owned by Rodeler Limited., a Cyprus investment firm, which unlike many other cryptocurrency robots, is actually authorised and regulated by Cyprus Securities and Exchange Commission. We have also written an extensive 24option Review and strongly encourage you to read it. While we have not seen any major negative reviews or press about Bitcoin Miner robot, we always ask our readers to be careful when starting to work with the new crypto CFD broker. It is always better to start with smaller amounts and also try to withdraw some funds once you have made some profits so you can see how fast they react and respond to your queries, as well as send your money back. Cryptocurrency markets are still pretty wild so it is always better to be safe than sorry.
Another important aspect of each cryptocurrency trading robot is the quality of their trading algorithms. Of course, it will depend on the market and if the prices of all cryptos go south you won’t be able to make money. But volatility and wild price swings are always good to algorithmic and day traders. Our advice here would be same as above, to test the trading algorithms of the Bitcoin Miner we recommend starting with smaller amounts and testing different crypto pair sand different settings to see how the trading robot performs.
We think that Bitcoin Miner is pretty legit and does not look like a scam, especially given a fact that it is affiliated with a regulated CFD broker which is based in EU.
How to Open Account with Bitcoin Miner
It is very easy to start trading with Bitcoin Miner. All you have to do to register with this crypto trading robot is to provide your name, telephone number and email address. That’s it, you are ready to go!
It is also important to mention, that in order for you to start trading, you need to deposit funds with the CFD broker. Once in the trading room of Bitcoin Miner, you need to click on Deposit Funds and register with 24option CFD broker. Then you need to complete the KYC process by submitting a copy of your passport and residential address. That is essential in order for you to start trading and be able to withdraw money.
How to Start Trading with Bitcoin Miner Robot
Once inside the trading room, you can go to the Demo Account to see how your trading might look like with real money.
You will have a number of setting such as:
- Trade Amount – the amount of money you are willing to put in each trade
- Take Profit – the profit level that needs to be reached per each trade in order for you to close the trading position.
- Maximum Concurrent Trades – number of trades that can be opened at the same time
- Daily Stop Loss – daily loss at which point you will close all trading positions and stop trading for a day.
- Daily Take Profit – profit target per day reaching upon which you will stop trading for that day
- Maximum Daily Trades – basically a maximum number of trades that you are willing to make per day.
You can also set a number of currency pairs such as Bitcoin, Ethereum, Litecoin and Ripple which you can trade against the US dollar or Euro.
The Bitcoin Miner robot is automatically connected to the CFD broker so you don’t really need to look t the price charts or other technical tools offered by the broker. Of course, if you are interested to learn, 24option CFD broker has a number of educational resources and its representatives would be willing to help you to learn trading but you don’t need all that to trade cryptocurrencies on autopilot. That is the beauty of crypto trading robots such as Bitcoin Miner.
Bitcoin Miner Review – Conclusion
After completing this Bitcoin Miner review we can conclude that this crypto trading robot is very similar to others such as Bitcoin Code and Ethereum Code which we have covered in previous reviews. The big advantage is that is affiliated with EU-based regulated CFD broker. The trading algorithms still need to be tested in various market condition and need to be adapted to your trading style but many people report that Bitcoin traders can make up to 1-2% per day when using automated trading systems. But as we said numerous times in every review, it is important to remember that investing can put your money at risk and you should not invest more than you are prepared to lose. Past performance is no guarantee of future results, please remember that.
But in the meantime, there are many people who make money on trading and many people who made a good fortune by trading cryptocurrencies. So take your time to learn, start small before you get confident and we are sure that you will be able to benefit from the automated trading system such as Bitcoin Miner.
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