Bitcoin Trader Review – Scam or Legit

Trading bots are becoming more popular in the sector. This software is designed to help traders assess the market and execute trades seamlessly. Bitcoin Trader is a new crypto trading bot that’s getting a lot of adoption.

Our Bitcoin Trader review will examine how this trading bot works and why you should consider it.

Bitcoin Trader Summary

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

What is Bitcoin Trader?

According to the website, Bitcoin Trader is a cryptocurrency trading bot whose goal is to improve the ease and accuracy with which crypto traders profit from the market.

The Bitcoin robot was developed as a versatile trading tool, combining automated trading with manual tools and working for different types of traders.

Whether you’re a newbie or an experienced trader, Bitcoin Trader claims to be able to help you earn returns from cryptocurrency trading, however remember that all trading includes risk.

While researching our Bitcoin Trader review, we couldn’t find any information about its team or where the service is registered.

This might be concerning for many investors, but it also doesn’t mean the software is fake. It’s common for many crypto product developers to hide their identities for privacy purposes.

In terms of how it operates, the model is quite simple.

Bitcoin Trader claims to use artificial intelligence and machine learning models to analyse the markets and spot the movements of different trends. Thus, it finds optimal entry and exit points for trades and improves the chances of traders earning returns.

Per information on the site, the bitcoin robot’s developers claim it can scan the latest market news, analyse trends, and immediately enter trades thanks to a high-frequency trading system that is 0.1 seconds faster than the market itself.

It is worth noting that the crypto market is extremely volatile, so you want to be careful when using this software. Take proper precautions and trade within safe parameters.

So is Bitcoin Trader a scam? So far, we can’t say for sure.

Bitcoin Trader’s developers have touted its efficiency, claiming their software can help with market analysis and reduce the burden of extensive research on traders.

However, we recommend that users should still carry out their research. If you intend to invest in this service, you might want to start with the demo account.

The crypto market is quite volatile, and it’s important to enter trades with the highest confidence levels. Carrying out extensive research helps with this and puts you in a better position to succeed in the long term.

Who Owns Bitcoin Trader?

The Bitcoin Trader owners are anonymous but are said to have been established by a group of professional traders and software developers to help traders maximize their profit-making potential.

According to their website, Bitcoin Trader only integrates with brokers regulated by tier-one financial authorities, such as the FCA.

There have been rumors and reports that high-net-worth individuals such as Elon Musk, Jeff Bezos and Richard Branson are behind Bitcoin Trader, but we have found no evidence to verify those claims.

Bitcoin Trader Pros & Cons

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

How Does Bitcoin Trader Work?

Understanding how the Bitcoin Trader robot operates is critical if you plan to use the robot. Bitcoin Trader is an automated bot that looks to ease the burden of research and trade execution.

However, it is worth noting that the bot trades with contracts for differences (CFDs).

A CFD is a derivative that gives you the right (not the obligation) to buy or sell a cryptocurrency at a given time and price. So, you lock the price in, and the difference is eventually paid when the contract matures. When you use Bitcoin Trader to buy Bitcoin, you’re trading the derivatives that track BTC prices – not Bitcoin itself.

Bitcoin Trader uses artificial intelligence and machine learning to trade these crypto CFDs.

Combined with high-frequency trading, these concepts help the Bitcoin Trader robot spot trends in the market and analyse possible outcomes. Based on this research, the bot finds optimal entry and exit points for trades.

The Bitcoin Trader developers have claimed that their bot is 85% accurate. This information was found on their website and on their marketing materials. However, we couldn’t verify this for the purpose of our Bitcoin Trader review, so keep in mind that it might not be so accurate. The crypto market is highly volatile, and even the most advanced trading bots could fail from time to time. To guard against the volatility, start small and only invest funds that you’re willing to lose.

Furthermore, Bitcoin Trader doesn’t work in isolation.

The bot matches traders with third-party brokers, maintaining a network of partners across several countries. Several Bitcoin Trader reviews have claimed that these brokers are licensed by the Cyprus Securities and Exchange Commission (CySEC), but this is also hard to verify.

Bitcoin Trader’s partner brokers are responsible for tasks such as position sizing and trade execution. The bot’s developers claim these brokers are in charge of trade execution and position management.

On What Devices Can I Use Bitcoin Trader?

Bitcoin Trader is available on any device with an internet connection and a web browser, so PCs, laptops, tablets and smartphones.

However, it does not have any dedicated mobile app.

Which Exchanges and Brokers is Bitcoin Trader Partnered With?

We were unable to verify which exchanges and brokers Bitcoin Trader has partnered with, as users are assigned different brokers when they signed up.

The platform claims to only use those regulated by tier-one associations and users will have to complete full KYC verification to join.

Can I use Bitcoin Trader in My Country?

Bitcoin Trader is widely available around the world except, notably, in the USA. See below for a select list of availability:

How Much Profit can be Made from Bitcoin Trader?

Bitcoin Trader claims a win rate of 85%, but we were unable to verify those claims.

Bitcoin and crypto trading can be extremely lucrative but there are also inherent risks – we would recommend not just leaving the bot to trade but also thoroughly analyzing the market and developing solid strategies, as well as regularly tracking the bot’s performance.

Losses during trading are inevitable and beginners should not invest more than they can afford to lose before fully educating themselves.

Investors should also note that tax on profits will be charged in many countries.

Bitcoin Trader Key Features

• Versatile Trading System

One important attribute of the Bitcoin trader robot is its versatility. The bot supports both automated and manual trading, ensuring that all types of traders are welcome on its platform. Earlier in this review, we touched on how the automated trading system works.

As for the manual trading feature, Bitcoin Trader allows you to set your parameters and trade based on your research. This feature is better suited for experienced investors who understand the market and are more comfortable conducting their own research.

The goal is for you to make a profit regardless of the trading system you use. Bitcoin Trader’s developers say their bot is 85% effective, although we couldn’t verify this claim. We recommend taking a cautionary approach when investing and trading in the market.

• Quick Transactions and Payout System

One of the hallmarks of the best bitcoin bot is its speed. And, as the Bitcoin Trader reviews have shown, this bot appears to have that locked down.

Bitcoin Trader’s developers have claimed that their bot is 0.1 seconds faster than the market. This means that it can help you to identify trends and move much faster when executing trades.

The robot’s speed also extends to its transactions. Many Bitcoin Trader review options have claimed that the bot processes deposit transactions in minutes. Withdrawals are also processed in 24 hours. Given that most trading bots take a few business days to process withdrawals, this could be favourable.

• Demo Account

A demo account is an important part of having a trading bot. With this, you will be able to optimise your trading strategy and ensure that you’re entering into trades more confidently.

Cryptocurrency trading can be very risky. It is important that you enter into positions after doing enough research and testing. With the demo account on the Bitcoin Trader robot, you get an opportunity to do proper research and bolster your position.

Our Bitcoin Trader review will recommend the demo account for beginners and experienced traders. Beginners will be able to use the demos account to get acclimatised with the Bitcoin Trader robot and trade more effectively. As for experienced traders, you can test out trading parameters and strategies for as long as possible.

If you would like to conduct a Bitcoin Trader test, the demos account is a tool that can easily help you.

• Affordable Trading Bot

The bot doesn’t charge fees for transactions or account maintenance, and its developers also claim that they don’t take any commissions on your trades. This is very favourable. As a customer, you only have to worry about the minimum deposit. There’s nothing else to pay for.

Bitcoin Trader Fees

We looked through the Bitcoin Trader website and compared it with other reviews for the platform and found the following fee structure:

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

The table above shows that Bitcoin Trader is among the most affordable crypto trading bots available. However, we also recommend trading with small amounts and looking out for any areas that the bot might want to charge you.

Is Bitcoin Trader a Scam?

So, is Bitcoin Trader a scam?

From our research, it’s impossible to verify this. The bot’s developers don’t have many details in the public domain. However, this doesn’t necessarily mean that the bot is a scam. Its common for AI-based trading platforms and any crypto project to have anonymous developers and founders for privacy.

Of course, this doesn’t take out the market risk. Traders should always be aware that the crypto market is volatile, and coin prices are subject to significant swings. Always take the right measures to protect yourself while trading.

Bitcoin Trader has an extremely mixed two-star rating on trusted customer peer review website TrustPilot. However, many of the most recent reviews are negative and warn investors to “avoid at all costs”, while others complain of being bombarded by phone calls.

We also scoured social media sites such as Twitter and Reddit and searched Bitcoin Motion on Instagram but individual posts were neutral.

Potential users should, however, ensure the links they are using are not phishing links – some crypto trading bot links on Facebook, Twitter etc. are not real or genuine automated trading platforms that exist, and instead use clickbait tactics and celebrity endorsements to attract interest.

The real Bitcoin Trader website should have a legal disclaimer in the footer and not claim e.g. Elon Musk used Bitcoin Trader or any similar celebrities.

Bitcoin Trader Minimum Deposit

The minimum deposit on Bitcoin Trader is $250. This price is competitive with many other crypto trading bots in the market.

With the crypto market being highly volatile, we recommend that you approach this bot carefully. If you plan to invest, only put in capital that you’re willing to lose. In addition, always stay within the right risk parameters as you trade.

Bitcoin Trader Celebrity Endorsements

As mentioned above, Bitcoin Trader has been connected to various famous celebrities and high net worth individuals, but we found no evidence that they are linked with the project in any way.

Does Elon Musk Endorse Bitcoin Trader?

No, Elon Musk does not have any connection to Bitcoin Trader, despite his well-known love of cryptocurrencies.

Does Richard Branson Endorse Bitcoin Trader?

Again, we could find no verifiable link that Richard Branson is connected to Bitcoin Trader.

Does Jeff Bezos or Amazon Endorse Bitcoin Motion?

There is no connection between billionaire Jeff Bezos and his company Amazon with Bitcoin Trader.

Does Martin Lewis Endorse Bitcoin Motion?

British TV presenter and financial expert Martin Lewis has no connection to Bitcoin Motion, according to our findings.

Was Bitcoin Motion on the BBC?

We have found no evidence that Bitcoin Motion was mentioned on any BBC TV or radio show, or any other TV show such as Shark Tank, Dragons Den or This Morning.

Bitcoin Trader Customer Support

Bitcoin Trader’s developers claim to have customer support via email and phone. But, we couldn’t confirm and couldn’t gain access to their customer support. We recommend that you run a Bitcoin Trader test to see how well their customer support responds to your complaints and challenges.

How to Use Bitcoin Trader

Now, let’s look at how to get started with Bitcoin Trader.

Step 1: Sign Up

Head to the Bitcoin Trader home page and register. You can do this by clicking the “Register” button at the top or entering your details in the dialogue box at the top right-hand corner. The website requires that you enter your name, Email address, and phone number.

Bitcoin Trader will immediately connect you to one of its partner brokers. Remember that these brokers play a crucial role in your success as a trader. Afterwards, you will be redirected to your profile.

Step 2: Demo Account

Bitcoin Trader doesn’t mandate that you use the demo account. However, as our Bitcoin Trader review has shown, this feature can be very beneficial.

The demo account allows beginners to get a good feeling of the platform, and it also allows advanced traders to test out their trading strategies. So, before you start trading, spend some time on the demos account to get a feel of the platform.

Step 3: Make A Deposit

Bitcoin Trader claims to be able to accept different payment channels – including cards and accepted cryptocurrencies. So, choose the funding method that works well for you and proceed.

Remember that the minimum deposit is $250. As a beginner, it’s important to start small and work your way up from there.

Step 4: Live Trading

With your account funded, you can begin with live trading. You will need to set your trading parameters and proper risk settings. From there, the bot trades on your behalf.

The risk parameters are very important if you hope to use Bitcoin Trader. Remember that the market is very volatile, and you should be careful as you trade.

How to Withdraw Money from Bitcoin Trader?

Bitcoin Trader does not store funds and has no digital wallet, meaning users must fo through the broker to withdraw. Follow the steps below:

• Visit the broker website and log into trading account
• Visit the wallet and select preferred payment method
• Enter the amount to withdraw in preferred fiat currency
• Select withdraw to start the process, with the transaction taking up to 24 hours to complete

Users should note that Bitcoin Trader brokers do not pay out in crypto but in fiat.

How to Delete Bitcoin Trader Account?

Deleting Bitcoin Trader is a simple process that should not take long.

Go to the menu on the website and follow the instructions in the settings section. Alternatively, it can be done via the broker – but this will lose all details connected with that broker.

We would advise informing customer support before proceeding.

The Verdict

Bitcoin Trader claims to be an automated trading system that claims to help investors profit from the market. The service’s developers – as well as other Bitcoin Trader reviews – have touted its strength and accuracy, and its ability to operate within regulatory guidelines.

The Bitcoin Trader robot website claims to be legitimate, although we couldn’t verify a lot of its claims in our Bitcoin Trader review. The bot’s success rate is pegged at 85% – although that is unverified – and there are no fees associated beyond its minimum deposit amount, however crypto trading comes with risks.

Despite these features, we recommend that you approach this bot with caution. Start with funds that you’re willing to lose and only trade within the appropriate risk parameter and don’t trade over the minimum balance.

Also see our recent rankings of the top algorithmic trading platforms for some Bitcoin Trader alternatives.

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

FAQs on Bitcoin Trader