|Support Types||Email , Phone , Chat|
|Minimum 1st Deposit||$50|
|Minimum Account Size|
|Minimum Trade Amount||$25|
|Free Demo Account||Open Demo|
|Trading Currency||Bitcoin , Ethereum , Ripple , Litecoin , E-krone , USD , EUR , GBP|
|US Traders Allowed|
- Fast Trade Execution
- Tight Spreads
- No Commissions
- Black-box Trading Algorithms
- No Mobile App
What is Bitcoin Trader Robot?
Today cryptocurrencies became major investment asset class and their popularity is growing. The major price surge in Bitcoin, Ethereum and other altcoins back in 2017, attracted many individual investors who made good profits during the bull run. Since then, the price of Bitcoin dropped to $4,000 from almost $20,000 and now is trading at about $8,000-$9,000 per Bitcoin. But cryptocurrency trading still presents a good opportunity to make money in volatile markets when the price is going up and down a lot, which requires a better understanding of technical analysis. The good news is that currently there is a large number of different platforms, trading robots, CFD brokers, social trading that can empower individual investors and allow them to make money from trading. One of such solutions that suit best for Beginner traders we will cover in this Bitcoin Trader review.
Is Bitcoin Trader Scam or Legit? Our Verdict
In the wild and unregulated crypto market, there is still a lot of shady market participants. You can hear about many scams and that people lost all their money on Bitcoin. That makes many people skeptical about cryptocurrencies. But it is important to remember that one of the main reasons for that happening is that people don’t educate themselves enough to understand how things really work. You can not expect to make a great fortune as a Bitcoin trader without taking any risk. As long as you understand the risks associated with trading in general, educate yourself and never invest more then you are prepared to lose, you can study and become good at cryptocurrency trading.
The purpose of this Bitcoin Trader review is to tell you our honest opinion about this cryptocurrency trading robot. Our verdict is that overall Bitcoin Trader is a reliable automated trading system so please read the full review for details.
Bitcoin Trader is affiliated with TradeToro CFD broker, a company registered in the Commonwealth of Dominica. TradeToro is a specialist cryptocurrency CFD broker and you can trade Bitcoin, Ethereum, Ripple, Litecoin and E-krona. TradeToro offers an elegant and easy to use trading platform and you can earn money through a systematic approach to cryptocurrency trading, with a trading bot such as Bitcoin Trader.
With TradeToro you can have access to a large number of trading markets, including the traditional one, not just cryptos. State-of-the-art charting tools, fast trade execution, precision-based spreads, low margins, the intuitive and simple trading interface makes TradeToro trading platform suitable not only for experienced but also for beginner cryptocurrency traders. You can have the ability to trade cryptocurrencies 24/7 with the help of the trading robot such as Bitcoin Trader.
TradeToro has good support available via email or a phone, it offers mobile trading apps making it easy to monitor and place new trades on the go, It also has a large library of training materials and educational resources making it easy for beginner Bitcoin traders to learn about price charts and technical analysis. You can use debit or credit card, EFTpay, iPay payment systems to deposit and withdraw funds. You can also use Bitcoin and Ripple to deposit funds with the TradeToro broker.
The only potential down-side about TradeToro CFD broker is that it is not regulated. However, we do not see it as necessarily being negative as many other CFD brokers who specialize in cryptocurrency trading are also not regulated. It is important to remember that cryptocurrencies are the new asset class and not yet covered by the traditional financial regulators. As the industry matures, we will see more reliable market players entering the market and offering new and interesting solutions to the crypto world, At the moment, laws in many jurisdictions do not require crypto trading companies to be regulated, which helps the industry to develop and grow faster.
It is important to remember that cryptocurrency trading is considered to be what is called “high-risk” money activity. Past performance is no guarantee of future results and your investments may go up and down in value. There is no “magic bullet” and you can not expect to make money in trading without the risk of losing. Please don’t invest more than you are prepared to lose and always try to educate yourself to understand the market and trading platforms.
The good thing is that recent developments in technology and market infrastructure now allow event the beginner Bitcoin traders to join the cryptocurrency trading game and make money.
How to Start Investing with the Bitcoin Trader?
So, what do you need to start trading Bitcoin, Ethereum and other cryptocurrencies on auto-pilot? First, you have to open an account with Bitcoin Trader. The account opening process can be completed in 3 easy steps
Step 1 – Open Free Account
All you have to do to register with Bitcoin Trader is to provide some basic details such as your full name, email and telephone number. You will receive a confirmation email and also a call from Bitcoin Trader client representative. Please make sure that you provide the correct number so you can finish the account set-up and deposit promptly. A Bitcoin Trader client representative will take you through the account opening process, will determine your trading experience and will help to deposit funds with the broker. You will need to complete the AML and KYC process with before you can deposit and withdraw funds but this should not take too long.
Once you register with Bitcoin Trader, you will be able to log into the trading room. As you can see, the interface is very simple and easy to navigate. You can access a demo account to see how your trading might look like in real-time and also get an understanding of how automated trading works before investing real money.
Step 2- Deposit Funds
As we mentioned before, in order to start trading you will need to deposit funds with Bitcoin Trader. You can use Debit or Credit card, EFTpay or iPay payment systems but also Bitcoin and Ripple to deposit funds with the broker. TradeToro should be automatically connected to the Bitcoin Trader account, and you can do that online or by speaking to one of the client service representatives.
Step 3 – Adjust Trading Settings and Start Investing
As the last step, you will have to adjust the trading setting such as Trade Amount, Take Profit, Daily Take Profit, Daily Stop Loss, Maximum Daily Trades and Maximum Concurrent Trades. You can also choose which currency you want to trade, Euros or US Dollars.
Once the deposit has been made and trading settings are defined, you can start trading. Press the Auto-Trade button and Bitcoin Trader will start trading via the CFD broker. You can monitor your positions regularly but you won’t have to do anything else to trade.
Can I Make Money with the Bitcoin Trader?
That is the question everyone is asking about cryptocurrency trading robots and in this Bitcoin Trader review, we will try to answer it. In general, automated trading is designed to profit from price volatility and trades can typically be open for a few seconds, minutes or sometimes longer. The more volatile the price is and the more often it goes up and down, the better for the traders. That means they can take many positions and profit even from small price swings. Given the price volatility of Bitcoin, Ethereum and other altcoins, cryptocurrencies make it a good place to make money and many individual investors are reporting good profits All your crypto trading strategy has to do is make more winning trades than losing ones in order for you to make money. But you also have to remember, that it is not possible to make money in trading all the time, especially if the price is only decreasing. So it all depends on the trading algorithms and how the trading strategies are designed.
Automated trading strategies are the most kept secret in the investment community and usually not publicly disclosed. If everyone follows the same strategy, then competitive advantage disappears and it will become more difficult to make money. That is why most of the trading robots that are affiliated with the CFD broker do not disclose their trading algorithms.
It is reported that Bitcoin traders can make on average 1-2% profit a day or 25-30% monthly. A lot of it depends on the broker and the trading signals that they use. So we always suggest starting with relatively small amounts to test crypto broker and their trading algorithms. Once you get more comfortable with trading, understand how your strategy is performing and what the profit is, you can then top up your game and deposit larger amounts.
Bitcoin Trader Robot Review – Conclusion
So what is our conclusion after completing this Bitcoin Trader review? This cryptocurrency trading robot is very similar to others such as Bitcoin Code, Ethereum Code and a few others that we have reviewed at EthereumTrading.pro. The trading room is simple and easy to use and TradeToro CFD broker account opening process is straight forward.
The TradeToro CFD broker seems to have a good and modern trading platform, appropriate security systems and fast execution speed. While it is not regulated, we have not seen negative reviews which give us additional confidence in this broker. Account opening and deposit process are easy, and you can start investing in Bitcoin pretty much immediately. It is also very easy to set up your trading strategy with no technical skills required.
Other Ways to Invest in Cryptocurrencies
There are a number of ways to invest in cryptocurrencies. Some people prefer to buy Bitcoin, Ethereum or other altcoin and keep them for some time with the view that its value will appreciate. The best way to hold Bitcoins in such a case would be a digital wallet. But if you want to trade hundreds of different altcoins or have access to real market prices the best option would be cryptocurrency exchange (just make sure to select a reliable trading venue). If you don’t want to be exposed to the security risk and just want to make money on Bitcoin volatile prices, want to trade on auto-pilot or if you don’t understand trading at all, the best option would be to start investing with CFD brokers and crypto robots.
The main ways to invest in Bitcoin, Ethereum and other cryptos are as follows:
There is a large number of crypto exchanges in the world with the largest currently being Binance. Some crypto exchange like Coinbase and others report large trading volumes in hundred millions of dollars. On some exchange, you can trade hundreds of different altcoins while on the others you can trade up to 10-15. You can keep digital tokens with the exchange or store them on a secure wallet. But wallets only work if you plan to hold your digital assets for a long time. Otherwise, it just takes too long to move them in and out of the wallet to exchange account. So if you are an active Bitcoin trader you will have to keep your cryptocurrencies on the exchange.
Security is one of the major risks that many crypto exchanges stay vulnerable to. We have seen many cases when exchanges have been hacked and customers’ digital assets have been stolen. Given the nature of Bitcoin and other cryptos, it is usually impossible to trace digital tokens and recover the funds. As the cryptocurrency industry is not mature and not yet regulated, we still see many scams so it is always important to be careful when choosing trading venues and service providers.
There is another type of player in the cryptocurrency trading world and it is a CFD broker. Unlike an exchange, with the broker, you most often do not own the digital assets or at most all client funds are pooled in one account. With the CFD broker, you trade Contract for Difference, or CFD, where you are betting on a price move. You don’t own the underlying security or stock, so you don’t have to pay full price for it. Instead, you only put money to cover the spread. That allows to invest less capital but also fully benefit from the price moves. You can take long and short positions through CFD trading and can start with investing at $25 or less. So if you want to become Bitcoin trader, CFD brokers is a good way to start.
Unlike crypto exchanges, CFD brokers don’t hold digital assets so they are not exposed to the risk of being hacked and altcoins getting stolen. But CFD brokers keep clients’ funds, therefore, the reliability of the broker becomes especially important. Usually, CFD brokers are registered in countries like the UK, Malta, Cyprus, Caymans or some off-shore places and are not always regulated by the financial authority. While in many countries it is not required for the crypto CFD broker to be regulated, brokers still must maintain the required capital reserve and manage their risks properly. Often, smaller CFD brokers will be a white-labelled solution and will have all the trading platform infrastructure of the large institution behind them.
There are a number of ways to invest in Bitcoin, Ethereum or other altcoins. You can simply buy and hold Bitcoins in a digital wallet. That is a good and secure way to own Bitcoins if you plan to hold them for a long time. If you need to sell, it can take some time to move Bitcoins to the exchange. Another way is to open an account with the cryptocurrency exchange and start trading there. Because this crypto market is not regulated yet, you need to consider the reliability of the exchange and it’s a security system. Alternative, you can trade Bitcoin and bet on the price moves with the CFD broker. That also required a relatively small initial investment to start.
Most of these methods require you to be present in the market, meaning you must monitor your trading positions closely and buy or sell at the right time. Many Beginner Bitcoin traders also find that it might not be so easy to trade Bitcoin themselves as at least some technical analysis and market knowledge is required. However, there is a solution for that.
Automated trading is a popular trading strategy where investments are made based on algorithms, computer-generated signals and technical analysis. The trades are also placed by computers and allow investors to automate trading. In the past, automated trading has been only available to large trading houses and quant hedge funds. But recent developments in technology give us tools previously only available to the largest institutions. Bitcoin Trader is one of such cryptocurrency trading robots.
Currency markets (including crypto) is the most popular asset class among individual investors. In forex trading, decisions are mainly based on technical analysis and price charts. You can invest in forex with a relatively small amount of money and still benefit from the full upside. But it is important to remember that losses can magnify as well. When trading, you put your money at risk and should not invest more then you are prepared to lose.
Different Types of Cryptocurrency Trading Robots
There is a number of different types of trading robots. All of them use technical analysis to analyse price charts and predict the price moves. The first type of crypto robots is the software programs that you install on your computer. GunBot and HaasBot are one of such robots. The second one is offered as a Software as a Service (SaaS), meaning you have to go to the website and work from the cloud, Such crypto robots are Zignaly and Cryptohopper. Both these types of robots allow you to create your own trading strategies or select pre-built ones. In order to trade Bitcoin, you will need to open an account with one of the supported exchanges via API. The funds will be deposited with the crypto exchange and all altcoins will be held there. The robot will analyse exchange prices and will place trade orders automatically. These types of robots require a decent understanding of technical analysis and might not be ideal for beginner Bitcoin traders. But there a third type of robots, such as Bitcoin Trader. So how does it work?Visit Broker