Bitcoin Profit Review – Scam or Legit Trading Robot?

Bitcoin Profit claims to be a crypto robot that promises to help you trade Bitcoin and other top cryptocurrencies for a profit. The platform advertises a win rate of 85% and doesn’t charge any fees for using its software.

So, is Bitcoin Profit a scam or legit? We’ll find out in our Bitcoin Profit review. Only invest what you can afford to lose and also see our other reviews of popular automated trading platforms.

Bitcoin Profit Summary

Wondering if the best Bitcoin robots are right for you? Let’s start off our Bitcoin Profit review with an overview of everything you need to know about this automated trading software:

Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.

What is Bitcoin Profit?

Bitcoin Profit is advertised as an automated crypto trading robot or ‘bot’. The platform reportedly uses an AI algorithm to identify trading opportunities in the crypto market and act on them on your behalf. Bitcoin Profit can automatically open and close trades in your trading account, requiring little to no manual intervention on the part of traders.

Bitcoin Profit claims that around 85% of its trades close for a profit under normal market conditions. The platform can trade 24/7 across more than a dozen different cryptocurrencies. Notably, our Bitcoin Profit review found that this platform doesn’t charge any account fees or trading commissions.

Who Owns Bitcoin Profit?

Bitcoin Profit has no ownership information on its website although other websites have named John Mayers as the founder and CEO, with the robot created by a group of experienced traders to help beginner traders become more profitable.

There have been rumors online that high-profile individuals such as Elon Musk are connected to Bitcoin Profit, but we found no evidence that was the case.

Bitcoin Profit Pros & Cons

Pros:

• 24/7 automated crypto trading
• High win rate, according to the Bitcoin Profit website.
• No account or licensing fees
• Withdrawals in less than 24 hours

Cons:

• Requires a $250 minimum deposit
• No mobile apps

Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.

How Does Bitcoin Profit Work?

Similar to other crypto robots, Bitcoin Profit works using an AI algorithm. The algorithm is proprietary, but has reportedly been trained on years’ worth of cryptocurrency market data and is able to monitor price changes on a tick-by-tick basis and can spot price patterns that are likely to precede a directional movement.

When Bitcoin Profit’s algorithm identifies one of these patterns, it opens a trade on your behalf. Bitcoin Profit then continues to monitor the development of the trade, and exits when the signal fades or a profit target is reached. Funds are returned to your account along with any profits.

Bitcoin Profit monitors 14 cryptocurrencies across dozens of crypto-fiat and crypto-crypto trading pairs. The platform can trade 24/7 and its algorithm-driven pattern identification is faster than any human trader. According to Bitcoin Profit, around 85% of trades that the algorithm makes are closed for a profit.

On What Devices Can I Use Bitcoin Profit?

Bitcoin Profit does not have a dedicated mobile app but can be used on any device with internet access:

• Smartphone on Android and iOS
• Tablet
• Desktop and Laptops

Which Exchanges and Brokers is Bitcoin Profit Partnered With?

Bitcoin Profit does not reveal exactly which brokers it is partnered with, however they only use those regulated by tier 1 financial authorities.

In the UK, for instance, all Bitcoin Profit partner brokers have been regulated by Financial Conduct Authority (FCA).

Can I use Bitcoin Profit in My Country?

Bitcoin Profit is available in many countries, although the USA is notably not allowed.

See the table below for select countries:

How Much Profit can be Made from Bitcoin Profit?

Bitcoin Profit has a claimed success rate of 85%, which we were unable to verify, and the chance to generate up to $1,500 per day, according to some users online.

Crypto trading can be extremely profitable but is inherently risky and losses are inevitable. Beginners should not invest more than they can afford to lose and track the robot to ensure it is performing how they want to it.

It is also important to note that profits made from trading are subject to tax in many countries.

Bitcoin Profit Key Features

Let’s take a closer look at some of this platform’s key features as part of our Bitcoin Profit review.

Trading in 50+ CFD Markets

Bitcoin Profit is able to trade around 14 different cryptocurrencies including Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Bitcoin Gold, ZCash, Dash, Ethereum Classic, Cardano, IOTA, EOS, NEO, Binance Coin, and Ripple. All of these cryptocurrencies have high daily trading volume and relatively high volatility, creating plenty of opportunities for trading.

Rather than buy and sell cryptocurrencies directly, Bitcoin Profit trades crypto-fiat and crypto-crypto CFDs. For example, it can trade BTC/USD, BTC/EUR, BTC/ETH, and more. In all, Bitcoin Profit monitors and trades more than 50 CFDs.

Ultra-fast Trading

Bitcoin Profit’s algorithm is able to identify and execute trades in a matter of milliseconds giving it a significant edge over most human traders.

This is important because it enables Bitcoin Profit to trade even small price movements for a profit. The algorithm trades 24/7, so hundreds of small profitable trades each day can add up to significant profits in your account.

Demo Trading

Bitcoin Profit offers a demo trading mode so you can try out the software without risking any money. This is a good way for beginners to check out Bitcoin Profit and see if it’s right for them.

It’s also essential to more experienced traders because it enables you to experiment with the Bitcoin Profit algorithm’s settings. You can change how conservative or aggressive the algorithm is under different market conditions and optimize it to get the biggest profits under highly volatile or highly stable conditions. You can toggle demo trading on and off easily using a switch in your account.

Fast Withdrawals

Bitcoin Profit states it aims to process withdrawals within 24 hours. That’s a benefit since it means your position is relatively liquid – you can easily make a withdrawal and move cash into another investment quickly if needed.

Bitcoin Profit Trading Platform

According to the Bitcoin Profit website, this crypto trading bot operates using an intuitive and powerful trading platform that’s available via browsers on both desktop and mobile. It also claims to be integrated with MetaTrader 4 (MT4), one of the world’s top trading platforms that’s home to a wide variety of advanced tools and charts.

Bitcoin Profit Fees

Our Bitcoin Profit review found that this platform doesn’t charge any fees for using its trading software. You won’t pay a licensing fee or subscription for using Bitcoin Profit, and there are no commissions on your trades or profits. Bitcoin Profit is completely free.

Here’s a breakdown of all the fees we found as part of our Bitcoin Profit review:

Trading Fees	None
Account Fees	None
Deposit/Withdrawal Fees	None
Minimum Deposit	$250

Is Bitcoin Profit a Scam?

We wanted to answer a key question with our Bitcoin Profit review: Is Bitcoin Profit a scam or real?

Bitcoin Profit claims to be a legit service – this trading software is completely free to use and reportedly offers access to a crypto trading robot but provides little information before depositing.

If you’re not sure about Bitcoin Profit, you can get started in demo trading mode. This allows you to see how the algorithm performs in simulated market conditions without actually risking any money on trades.

The website also claims to only partner with brokers that are regulated by tier 1 financial authorities – such as the FCA in the UK – while its claimed win rate of 85% is in line with many other trading robots, although we could not fully verify the claim.

Social media sites such as Twitter and Reddit only had very limited information on Bitcoin Profit, while there are only limited reviews on TrustPilot.

Any claims that Bitcoin Profit is related to Elon Musk or has been endorsed by other high profile celebrities should be ignored.

There is also no evidence the robot has ever been features on TV shows such as Dragons’ Den, Shark Tank or This Morning.

Bitcoin Profit Minimum Deposit

One thing to keep in mind is that Bitcoin Profit does require a minimum deposit of $250.

It’s also the initial investment that Bitcoin Profit will use to trade on your behalf and grow your trading account. However, remember that all trading includes risks and potential losses.

This initial deposit is your money and you can withdraw it at any time if you’re not satisfied with Bitcoin Profit.

Bitcoin Profit Celebrity Endorsements

Bitcoin Profit has been subject to speculation online that is affiliated and endorsed by a number of high-profile celebrities.

However, during our research, we found zero evidence that that was the case.

Does Elon Musk Endorse Bitcoin Profit?

The world’s richest man and Tesla owner Elon Musk is a known crypto enthusiast, but there is no evidence to support claims he is involved with Bitcoin Profit in any way.

Does Jeff Bezos Endorse Bitcoin Profit?

We found no evidence to support claims that Amazon owner and billionaire Jeff Bezos endorses Bitcoin Profit.

Does Martin Lewis Endorse Bitcoin Profit?

Martin Lewis is a British TV presenter on financial matters, there is no evidence to suggest he endorses Bitcoin Profit.

Was Bitcoin Profit on Good Morning Britain?

We could find no evidence that Bitcoin Profit appeared on Good Morning Britain or This Morning, two UK TV chat shows.

Was Bitcoin Profit on Dragons’ Den?

There is no evidence that Bitcoin Proift appeared on Dragons’ Den in the UK or Shark Tank in the US.

Bitcoin Profit Customer Support

Bitcoin Profit offers 24/7 customer support for active users. However, there is no way to get in touch with Bitcoin Profit’s customer service team before you sign up and create an account.

How to Withdraw Money from Bitcoin Profit?

No funds are stored on the Bitcoin Profit platform and they are instead held by the partnered broker.

Therefore, to withdraw, it must be done via the broker’s platform:

• Visit integrated broker trading platform and log into account.
• Go to wallet and choose preferred transaction method.
• Enter amount to withdraw and confirm.
• Once confirmed, funds should be received within 24 hours.

Bitcoin Profit brokers do not pay out in crypto but in fiat.

How to Delete Bitcoin Profit Account?

To delete, users can either head to the Bitcoin Profit platform and close the trading account or close the trading account on the broker’s platform.

Latest Bitcoin News

The best Bitcoin traders and investors are sure to keep abreast of the latest news in the crypto industry given its volatility and ever-evolving nature. Here are some of the top headlines for the week ending January 29, 2023:

• Elon Musk and Tesla neither sold nor bought any Bitcoin during Q4 2023 despite the market turbulence, which saw the value of their BTC holdings drop by $34 million.
• Coinbase has been fined around $3.6 million by the Dutch central ban for failing to be compliant with local regulations.
• Goldman Sachs has named Bitcoin the best-performing financial asset of 2022 – ahead of other assets such as the S&P 500 Index, Nasdaq 100, gold and US Treasury Bonds

The Verdict

According to the website, Bitcoin Profit can trade more than 50 crypto CFDs with a high claimed win rate of 85%. So if you’re looking to buy Bitcoin CFDs then Bitcoin Profit is one to consider.

Bitcoin Profit itself is free to use, although the sites it works on may charge trading fees and Bitcoin network transaction fees for transfers when withdrawing. We recommend using the demo account, starting with a minimum deposit and testing out a withdrawal early on to verify the Bitcoin Profit platform works as described. Most crypto trading bot software is unregulated.

Also see our full guide to algorithmic trading platforms, for some Bitcoin Profit alternatives. Our top pick on that guide is the automated trading (in the form of copytrading) on an exchange that provides more detail in terms of backtesting and also has a lower minimum deposit of $10 – $50 depending on the country.

Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.

FAQs on Bitcoin Profit