Bitcoin robots are the rave of the moment and becoming increasingly accessible to traders who are looking for alternative options to traditional trading. The cool thing about Bitcoin robots is that they are available for free or in some cases, a fair price.
To bring you up to speed on everything you need to know about Bitcoin robots, we have put together a list of the best Bitcoin robots available on the market today. In today’s guide, we will be showing you some of their fundamental differences and what these robots are capable of.
After reading our detailed guide on the best bitcoin robots, you can go ahead to choose any trading robot from our list, set it up, and sit back to watch how the robot executes trades, while you learn.
And like always, we will do our best to keep our review of the best bitcoin robots honest and straightforward. Read on for everything you need to know about bitcoin robots.
Bitcoin Robot: What is it and how does it work?
If you have been in the crypto space for a while, you’ll know what a bitcoin robot is, and if this is your first time hearing about it, today’s post will give you all the information you’re looking for.
For starters, a bitcoin robot is a uniquely designed computer program that performs all of the functions of a professional trader. This computer program works on bitcoin exchange and automates every aspect of trading. As an automated version of trading procedures, bitcoin robots haven’t disappointed and have proven pretty much reliable than traditional trading procedures.
The brilliant thing about robots is that they have proven to perform better than humans, especially during market volatility, regardless of the direction of the market. The reason why bitcoin robots outperform humans is that they strictly follow trading tactics that are designed to allow people to make money even during bearish market trends.
And yes, some of the best bitcoin robots on the market today are lauded for their lightning-fast research and seamless trade execution. Thanks to this, bitcoin robots can execute a large number of trades daily, allowing them to take advantage of multiple trading opportunities daily.
Best bitcoin robots: List of the best trading robots on the market
Now that you know a thing or two about bitcoin robots, it’s time to show you our list of best bitcoin robots.
British Bitcoin Profit: Lauded for its lightening trade execution and payouts
British Bitcoin Profit has earned its place as one of the best bitcoin robots out there. The program is designed to allow customers to trade different cryptocurrencies including Bitcoin and Ether. Whether you have been trading cryptocurrencies for a while or just getting started, rest assured that this bitcoin trading robot is suitable for all traders regardless of their trading experience.
While manual traders can take days analyzing bitcoin charts to predict the direction of the market, with British Bitcoin Profit, all technical and fundamental analysis can be completed in a couple of hours. This is all thanks to the advanced system of calculations and other powerful algorithms based on AI, powering the robot.
Another exciting thing about British Bitcoin Profit is its lightning payment processing speed. And that’s because it takes a maximum of 15 hours for all payments to be processed. How cool can that be?
Here, check out some pros and cons of using British Bitcoin Profit.
Pros of British Bitcoin Profit
- Provides support for different cryptocurrencies
- Quick and hassle-free payment processing
- Intuitive and user-friendly platform
- Delivers an impressive success rate of over 88%
- Low initial deposit
Cons of British Bitcoin Profit
- Using sophisticated and advanced features provided by the app may be pretty complex for newbies.
- Because of the volatile nature of c rypto trading, you can’t guarantee all-round success.
Bitcoin Loophole: Best Bitcoin robot in terms of win rate
Bitcoin Loophole is one of the most sophisticated automated trading software we have come across. This powerful trading software leverages Artificial Intelligence (AI) and a robust algorithm that scans through crypto exchanges to evaluate market trends. Our research shows that Bitcoin Loophole is many steps ahead of popular trading techniques as the robot is able to correctly predict market movements and changes even before traditional traders are able to spot it.
Thanks to the powerful algorithm that powers this trading tool, it is able to execute multiple trades per minute. Without mincing words, Bitcoin Loophole is able to trade thousands of times at peak periods.
What we love about the software is that it is effective, incredibly easy to use, and above all, provides traders with a unique opportunity to make money on a d daily basis. Besides, the tool is lauded its insane profitability and impressive customer service. Plus, they have one of the highest positive reviews online.
Pros of Bitcoin Loophole
- Signing up for an account on this platform is seamless and almost instant
- There are no hidden fees or commissions to worry about.
- Traders have seamless access to customer service reps who are available around the clock to assist as needed.
- Fast and seamless withdrawal process.
- Traders can trade all major cryptocurrencies including big names like Bitcoin, Ethereum. Plus, the platform guarantees complete protection of personal information and data.
- They provide access to a seamless demo mode that allows traders to experiment with different trading strategies and techniques.
Cons of Bitcoin Loophole
- They don’t offer instant withdrawal
- They currently don’t have a dedicated mobile app.
Bitcoin Profit: Best free bitcoin trading robot
Bitcoin Profit is unarguably the best free-performing robot we have seen so far. This remarkable trading tool provides impressive returns on investment. And guess what? With Bitcoin Profit to the rescue, you don’t have to go through the time-consuming process of evaluating trends and patterns before executing and leaving trades. That’s because the bot handles all of that.
This trading robot is carefully designed to give everyone, regardless of their trading experience an opportunity to become members of the best cryptocurrency auto-trading robot community. With Bitcoin Profit, traders are poised to make additional income, regardless of whether they have substantial prior experience or not. Sure, trading digital assets can be risky, but guess what, with Bitcoin Profits, all the odds are in your favor.
The icing on the cake is that the platform doesn’t charge users anything. And just to add, there is no catch. With Bitcoin Profit, there are no hidden fees, charges, or commissions to worry about. What this simply means is that traders go home with all they earn. Without a doubt, Bitcoin Profit has earned its place among the best.
Pros of Bitcoin Profit
- The platform provides traders access to a demo trading feature, which allows them to practice and test strategies before executing trades.
- There are no fees, hidden charges, or commissions to worry about.
- Trades are executed seamlessly within seconds without putting in any real effort.
- They have one of the most responsive customer support teams we have come across in this industry.
Cons of Bitcoin Profit
- Trading advanced options provided by this platform requires having previous trading experience
- Withdrawals could take up to 48 hours to be processed.
Bitcoin Champion: The most intuitive robot for beginners
One thing that has got us hooked to this remarkable trading robot is that there are no risks associated with using it, whether you’re just getting started or have been trading cryptocurrencies for a while. Just so you know, Bitcoin Champion is a sophisticated trading application specially designed to allow traders to effortlessly trade the foreign exchange market, cryptocurrency, and other digital marketplaces.
Bitcoin Champion is carefully engineered to provide users with robust opportunities that are based on technical indicators, including automated trading methods as well as manual trading systems. Thanks to their registration process being quick and hassle-free, you can register for an account within minutes.
Pros of Bitcoin Champion
- The platform executes trades seamlessly and fast
- Delivers remarkable profit to traders
- Thanks to its neat user interface, the platform is easy to use.
- They take the safety and security of traders up a notch
Cons of Bitcoin Champion
- The platform doesn’t currently have a dedicated mobile app. Hopefully, we may see one in the future.
Bitcoin Era: Bitcoin robot with impressive performance
The Bitcoin Era trading bot was launched in 2019. Since the robot was unveiled, it has helped traders make thousands of dollars in profits. The thrilling part is that all trades are executed automatically. So all you need to do is sit back, relax and watch your profits real in. Sounds too good to be true? Well, we aren’t bluffing. This tool delivers an impressive win rate of almost 88%.
Just to give you a bit of a background, Bitcoin Era is powered by sophisticated AI and remarkable algorithms that have been carefully put together by some of the smartest Fintech professionals in the business. According to customers who have used this software as well as the team behind this powerful bitcoin robot, Bitcoin Era is capable of executing trades faster than most algorithms. Not just that, it is also a fraction of seconds faster than most of the average trading programs out there.
Besides being free to use, this trading software along with the brokers that are featured in the auto trading platform are regulated and compliant. Also, they have contributed immensely to the success of this trading robot.
That said, to get hooked to this platform as well as a reliable broker, you’ll need to fund your trading account with an initial deposit of $250, which unsurprisingly is the same minimum deposit required by other popular bitcoin robots.
Pros of Bitcoin Era
- Bitcoin Era is suitable for all users, regardless of their trading experience.
- Bitcoin Era delivers remarkable profitability.
- They have a dedicated customer support team, professionally trained to respond to questions and queries.
- Quick deposit and fast payout
Cons of Bitcoin Era
- There are tons of websites bearing the same brand name.
- Most of the websites we have come across carry ambiguous and misleading details.
Bitcoin Up: Best performing cryptocurrency robot
Bitcoin Up ranks as one of the best-performing bitcoin robots out there. The software is engineered to give users an edge. According to reports, this automated trading system is uniquely designed to help traders make thousands of dollars in profit daily. And guess what, there is no catch as the software is offered free of charge.
What makes this automated trading tool unique is that it doesn’t require any prior bitcoin or cryptocurrency trading experience. Even newbies just getting started with cryptocurrency trading have an edge with this robust tool. All they have to do is sign up for an account, deposit some fund and watch the action unfolds.
Besides supporting bitcoin trading, Bitcoin Up can also be used to trade other top cryptocurrencies like Ethereum, XRP, Litecoin, Bitcoin Cash, and Doge. And yes, you can even use the robot to trade in multiple markets.
Pros of Bitcoin Era
- Thanks to its brilliant and user-friendly design, the app is simple to use.
- The trading system is superb and accurate
- Bitcoin Up is offered free of charge. Plus, the platform is secured.
- Bitcoin Up supports multiple deposit options. And withdrawals are processed very fast.
- Customers have access to a customer service rep any time they want.
- Using Bitcoin Up, traders can trade multiple digital assets including bitcoin and other top cryptocurrencies.
Cons of Bitcoin Up
- This remarkable trading robot is only accessible in a few countries.
- Because of the volatility in the market, there is a possibility of some financial loss.
BitQT: Best multi-language bitcoin trading robot
BitQT trading bot is an outstanding auto trading system that exchanges users’ cryptography automatically. Using powerful Artificial Intelligence and sophisticated algorithm, this incredible trading bot is able to seamlessly evaluate the cryptocurrency market, spot opportunities, and automatically execute winning trades. This remarkable trading system is famously deployed by top investment banks and hedge fund managers on Wall Street.
The app was specially designed by a team of highly experienced traders to give newbies with no prior experience in cryptocurrency trading an opportunity to trade the crypto market profitably. Thanks to this robot, you can leave all the difficult parts of crypto trading to this tool while you relax and watch your profit accumulate.
Besides supporting English, the contents of the website can also be viewed in other languages.
Pros of BitQT
- BitQT has a highly responsive support team that has been professionally trained to respond to your questions and complaints.
- This auto trading system delivers a remarkable win rate of up to 90%.
- The platform is user-friendly and super easy to navigate.
- You don’t have to pay any fee to signup on this platform.
- Quick deposit and fast payouts.
Cons of BitQT
- The platform doesn’t currently have a dedicated mobile app. We hope they fix this in the future.
- It may sometimes take a while to find a winning signal
Bitcoin Bank: Bitcoin robot with impeccable returns
Bitcoin Bank is a highly remarkable bitcoin bot that is designed to allow traders to execute trades automatically both in the bitcoin and forex markets. While the platform doesn’t have any information on the team behind the project, there are rumors that the robot was designed by fintech specialists and financial market traders.
The automated trading tool is rumored to deliver up to a $99% success record. Even though there are claims that the bot has scooped some awards for its fantastic performance, we are still yet to find any tangible information to justify these claims.
Pros of Bitcoin Bank
- The platform offers tons of payment options
- There have a demo account feature
- They are affiliated with some of the best performing brokers out there
- Remarkable customer services
Cons of Bitcoin Bank
- The platform doesn’t currently have a mobile app
- There are tons of websites with almost similar names. This can be quite confusing to investors.
Bitcoin Pro: Bitcoin robot with a high success rate
Bitcoin Pro is the new kid on the block. Just like other automated trading applications, we have highlighted so far, Bitcoin Pro allows traders to place trades automatically. There are even rumors that this trading bot features a proprietary trading algorithm that makes it a lot more trustworthy. Plus, the tool is consistent in terms of revenue generation.
Thanks to its highly sophisticated trading algorithms, this robot is believed to deliver up to 99.4 percent accuracy. Which is pretty insane.
Without mincing words, trading bots are more sensitive to market price variations and adjust quickly to market trends. Because it is designed to execute trades seamlessly and automatically, it prevents any type of human involvement. So what users get is an automated trading system that is completely self-reliant and autonomous.
Every time users deploy this trading app, they must activate the auto-trading feature and allow the tool to work its magic.
Pros of Bitcoin Pro
- The platform boasts a user-friendly interface
- Registration is fast, seamless, and straightforward
- There are no hidden charges or commissions to worry about
Cons of Bitcoin Pro
- There are a lot of unverified claims about the platform
- The website interface looks very similar to others out there. This makes it quite misleading.
BitQS: Impressive robot with highly responsive customer support team
Call it the best performing bitcoin robot and you’ll not be wrong. This highly sophisticated trading tool doesn’t only execute trades automatically, it is also engineered to seamlessly predict the ups and downs of crypto prices, giving traders an opportunity to close profitable trades and make consistent profits.
This robust trading tool leverages a secret code that is completely automated. More so, the tool also suggests the best exchanges to trade on. Not just that, users are able to get insight on how much they can make on every trade executed.
Let us also add that their customer service team is one of a kind. They typically respond fast to users’ questions and complaints. Plus, they have a team of reps that are well trained and courteous.
Pros of BitQS
- Highly profitable and delivers remarkable returns to investors.
- No fees or commissions to worry about
- l responsive customer support team
- Perfect for everyone, including newbies and experts.
- Easy to use platform
Cons of BitQS
- The company doesn’t have a mobile app.
- Because of the volatility in the crypto market, you may sometimes make losses.
List of good Bitcoin robots
Like we mentioned right from the get-go, there are myriads of crypto trading robots out there, but only a handful of them are legit. And because we always want to make your job easy and save you hours spent on research, we have conducted extensive research and come up with a list of 90% of all legit crypto trading robots available out there.
We are sure you’ll be asking how we know whether a robot is legitimate or not? Well, the answer is pretty simple, we deployed experts to test this platform and give us their verdict. Not just that, we spend tons of hours daily reading through thousands of reviews on third-party sites like Trust Pilot. Also, we look through social networking sites to see what people are saying about these platforms. Now to the part you have been waiting for, our list of good bitcoin robots.
- Oil Profit
- Bitcoin Loophole
- Bitcoin Profit
- Bitcoin Trader
- Bitcoin Rejoin
- British Bitcoin Profit
- Bitcoin Revolution
- Bitcoin Rush
- Bitcoin Lifestyle
- Immediate Edge
- British Trade Platform
- Bitcoin Digital
- Bitcoin System
- Bitcoin Evolution
- Bitcoin Digital
- Bitcoin Storm
Bad Bitcoin robots
If you have a really good eye and some experience, you’ll easily spot scam bitcoin robots. The first red flag you should look out for is the information on their websites. Most times, the information you find on their website can’t be substantiated. Also, these companies don’t have a phone number or other means of communication that can be traced back to them. Any time, you come across a bitcoin robot platform with exaggerated returns, it is a tell-tale sign that they are out to swindle investors.
To add to that, scam bitcoin robots are most affiliated with fraudulent offshore brokers. These brokers have a bad reputation on the internet. Plus, they aren’t regulated, which is another red flag.
How do bitcoin robots work?
Crypto trading bots are incredibly sought after by investors looking to make extra bucks on the side. The cool thing about crypto trading bots is that they are pretty easy to use. Whether you have been trading for some time or just getting started, you’ll find it easy to use these bots.
While some bots are offered free of charge, many may be rather expensive. So consider that when exploring bitcoin robots. That said, here are some unique components of bitcoin trading robots.
Thanks to sophisticated API, most cryptocurrency exchanges allow users to connect their auto trading bots to their platforms. The unique thing about these APIs is that they feed market data to the trading bot in real-time.
Using robust technical indicators and pre-defined algorithms, the bot is able to correctly calculate a trade. Also, it is able to communicate the specifics of trade execution to the API. And just so we are clear, the same interface is used to execute the trade order, which is automatically executed by the trader’s exchange account.
Market research and data an analysis
This unique component embedded within the trading bot is responsible for collecting and saving raw market data via different sources. It evaluates and correctly predicts when to buy or sell digital assets like bitcoin.
The brilliant thing with this component is that it conducts market data analysis at lightning pace, creating opportunities for traders to benefit from the smallest of price movements. With this remarkable component, traders can still make profits regardless of whether the value of crypto assets are rising or declining.
This component is an essential feature you’ll find embedded within a trading bot’s functionalities. This feature, just like the one we examined above leverages market data to predict any possible risks in the market. The bot usually makes the division on how much to invest in a trade based on the information it receives.
Buying and selling digital assets
This brilliant component featured within the algorithms of trading bots uses APIs to buy and sell digital currencies in a strategic manner. With this component, you’ll know when to buy digital assets in bulk. Also, you’ll know which digital asset is the best to buy right now.
Pros and cons of crypto trading bots
- Thye are reliable and efficient
- They predict the market accurately
- These tools are capable of processing a large amount of data at a lightning pace
- Prevents potential losses
- They are constantly scanning the market for profitable opportunities.
Cons of bitcoin robots
- These trading tools are prone to hacking
- They aren’t so flexible
- They can malfunction due to bugs.
How Do I Choose a Trading Bot?
So long your trading bot can do the things you desire, then it doesn’t matter what kind of bot it is. Now the next question is how to know the kind of bot that will be suitable for your needs. Let’s start with the things you should consider before you make this important decision.
Why would you want to trade with huge profit when your funds are not safe and secured? This is one of the most important things to consider. Be sure to find out the level of security of the platform you want to invest in.
One of the basic checks you can do about this is to check for an SSL certificate. A website secured by SSL is assured to protect your personal information such as personal details and card information. If a site has an SSL certificate, you will see a padlock icon on the left side of your URL bar.
There is no way you would be involved in investment, and you will take out the risk factor. That you are trading with crypto bots doesn’t eliminate risk, it only reduces it. Whenever you want to start trading with a crypto trading bot, always start with the least possible amount. Most bots have a minimum deposit of £250.
Deposit and Withdrawal Methods
Most bitcoin robots usually have multiple payment options that can be used for deposit and withdrawal. Most of the options you would find include Paypal, Stripe, Ecopays, MasterCard, Visa, Skrill, etc. This is very important to consider because not all payment methods work in all countries. You would want to choose a platform that has a payment method supported by your country.
Credible trading bots are as transparent as possible. Which means they provide all information needed by their users. The decision of the users to use or not use them is fair. They don’t put deceiving or misleading information just to attract many users.
Ease of Use
I am sure no trader would want a platform where you will have to struggle with the navigation or features before you understand it, not to talk of using it. User-friendliness is vital when choosing your bot. Truth is, not every bot out there is suitable for beginners. Some bots will be difficult to use if you are not well-grounded in trading cryptocurrency.
Some bots are available for free, while others will come with a significant price tag. Generally speaking, a paid-for bot offers superior features and a higher level of service, but you should weigh up what you are getting for your money and whether it is worth the investment before making a decision.
Bitcoin Trading Bot Strategies
Trend Following Strategy
Trend following is the simplest trading strategy as the bot responds to directly market changes. Based on the notion that prices would continue to increase beyond predicted averages, and eventually fall, this approach is pursued in the stock market. To be successful in trading, traders must understand the importance of entry timing (the time at which they enter a market) and exit timing (the time at which they quit a market).
Price variations among bitcoin marketplaces can be extremely wide in a fragmented, inefficient market like bitcoin, and can be influenced by factors like region, time, and legislation. Arbitrage is the practice of making a profit by simultaneously purchasing and selling on several exchanges to profit from the spread. This method, in contrast to momentum trading, is not depending on the success of the market and is relatively low-risk. As a result, arbitrage is one of the most straightforward and effective ways for automating programmatic execution.
Market Making Strategy
The market-making approach allows traders to buy and sell large amounts of currency while earning a profit from the difference between the two prices. Market-making traders rely on trading bots to be able to handle such large volumes of business.
The Niave Bayes trading algorithm makes use of machine learning to assess the likelihood of an event taking place in the future. By providing your bots with important information, you may assist them in determining the most appropriate entry and exit times.
How to Trade on a Bitcoin Robot: Step by Step Process
Usually, on the homepage, most robots require users to create a free account with a signup form. In most cases, the procedure is simple and quick. You must provide your full name, email address, and phone number to register with any bitcoin robot. To continue, you may be asked to validate your email address via a link and your phone number via SMS.
2) ID Verification (KYC Process)
The verification procedure normally requires the user to download a clear picture of their identity on both sides of the government. On the other hand, proof of residency requires the upload of a recent bank statement or bill with the address above. It takes up to 24 hours for the full process. Whereas most brokers enable traders to deposit and trade before verification, almost everyone requires that users complete the process before making a verification.
3) Make a Deposit
All well-regulated brokers require that their clients provide identification and proof of address before they can transact business. Accepting deposits, facilitating transactions, and orders execution as directed by the bot are all responsibilities of robot brokers.
As a result, any deposit you make through a robot is directed to the robot broker that operates the robot. Robots are not considered financial institutions, and as a result, they are not permitted to accept deposits under the law. When looking for a robot, it is critical to conduct a background check on the broker partners who will be working with them. Legitimate robots only work with brokers who are subject to strict regulations.
4) Trading on a Demo Account
Most robots offer a demo account to allow users to become more familiar with their web-trader before engaging in live trading. The demo account is essential because it provides you with the opportunity to practice trading without putting your money at risk. The majority of demo platforms use historical data to simulate real-world market conditions. Demo accounts also include guides to assist users in better understanding the trading process and experimenting with various risk management strategies.
5) Live Trading
The majority of bitcoin bots allow for real-time trading with the click of a button. But some have additional features that allow users to have more command over their devices. The majority of these responsibilities are centred on risk management.
Experts in the field of cryptocurrency trading robots recommend that live trading take place during Eastern Daylight Time. This is the time of day on Wall Street when the sun is shining brightly. And they have discovered a strong connection between Wall Street and Bitcoin, according to analysts.
Why Should I Use a Bitcoin Robot?
When compared to conventional trading methods, they have a high potential for making money.
Simple to Use
Bitcoin robots are mostly fully automated, making them suitable for use by anyone, including those with no prior experience in cryptocurrency trading.
Small Initial Investment
The majority of bitcoin robots require an initial investment of as little as £250.
Lesser Trading Time
If you use a fully automated trading robot, you can monitor your account in less than 20 minutes per day.
Removes the Influence of Human Emotions in Trading
The human emotions of fear and greed are widely recognized as the most significant obstacles to successful trading.
When Should I Use a Bitcoin Robot?
What you can do with bitcoin bots is limitless. But that would depend on what you need it to do. There are bots for rebalancing, account and portfolio management, smart order routing, data collection, etc. Whatever it is you want to do, there is almost certainly a bot that can do it.
When You have Repetitive Tasks
Repetitive tasks are a drag. Doing the same thing over and over again simply indicates that you are devoting more time to that task than is necessary.
Consider the possibility of a real-world method of copying and pasting work. The gist of it is to copy the work you’ve just completed and then repeat it the next time.
A trading bot is essentially doing the same thing as we are with our trading strategy. By completing the work once and setting up the trading bot, you will be able to copy that work over and over again until the end of time. That is an exciting concept, and you would be right to be enthusiastic about it.
When You Have Time Consuming Tasks
The pace of life is frenetic, and everyone has a task to complete. We don’t have the luxury of spending every waking moment in front of a computer, making sure our portfolio is on track. Trading bots are not the same as you. They don’t have anything better to do with their time. It is only their desire to assist you in putting these time-consuming strategies into action. Because they are computer-based, calculations are completed in milliseconds, trades are completed in a blink of an eye, and they never get tired of working. Tasks that take a long time to complete are simplified so that they can be set and forgotten.
When You Want to Trade the Market Non-Stop
The cryptocurrency market is open 24/7. No way, not for a second. The stock exchanges are not closed at night. Even if one exchange is down for maintenance or updates, there are hundreds of others that are still operational and operating normally. Because the market is always opened, you can’t keep track of your investments at all times. You will eventually require sleep, and we all know that assets have a proclivity for dumping as soon as we take our gaze away from them. At the very least, it appears to be so. However, you would like to continue with your trade while you sleep, bots can assist you in automating your strategy so that you won’t worry about the opportunities you might have missed while you sleep at night.
When there is Need for Complex Strategy
Finally, even if the factors of repetition, commitment, and precision weren’t enough to persuade us to use trading bots, there is still the factor of complexity to consider. Because of the sheer complexity of some strategies, it would be physically impossible for a human to put them into action.
Trading bots are required for complex strategies that must be automated. The strategy would be impossible to execute without the assistance of these bots. The lesson here is to use trading bots to implement trading strategies that are too complex to execute manually, rather than manually creating trading strategies.
Why Are Bitcoin Bots Profitable?
Bitcoin bots are profitable because they are very efficient at the use of exchange tools and methods, such as trailing stops and acting on crypto signals to buy and sell.
24/7 Access to Market
Another reason for trading bots’ profitability is because it is feasible to have 24/7 access to the cryptocurrency market and a consistent stream of earnings. This is not achievable if you are manually trading the cryptocurrency.
Ability to Handle Complex Tasks
It is possible to create your bot to perform far more sophisticated tasks such as arbitrage and accumulating if you are technically inclined.
What are the Costs of Bitcoin Robots?
Bots are accessible for download for free in certain cases, while others will have a hefty price tag attached to them in other cases.
In general, a bot that you pay for will provide you with more features and a higher level of service than the free one. However, you should carefully consider what you are getting for your money and if it is worth the cost before making a final decision.
Are Bitcoin Bots Legit or Scam?
Many popular bots are completely legit and are developed to maximize the potential of cryptocurrency trading. Scams, however, are not uncommon in practically any industry as you must have seen earlier in this guide. Thus, exercising a reasonable amount of caution is recommended.
Make no mistake about it, do not register on an Algo trading platform with the expectation of getting rich quickly. Some robots may generate little profits at first, but the profits will grow when your account level is raised. This is true for some robots.
Before you invest in bitcoin bots, you should be aware that profits will always be dependent on the number of funds you have invested. When you spend more money, you will see greater results.
Possible Risks when Trading with Bitcoin Robots
Using trading robots is not necessarily bad, but there are hazards associated with using them. A large number of these individuals are ignorant and inexperienced financial investors. They do not have a thorough understanding of how the markets operate.
Trading in the financial markets is always risky, but the risks associated with cryptocurrency trading are significantly higher than those associated with FX or stocks. The cryptocurrency market moves at such a breakneck rate that it has been known for cryptocurrencies to gain as much as 500 per cent in a single day of trade. A loss of this magnitude may be extremely detrimental if your robot traded in the incorrect direction.
This is not to say that robots are not accurate, but there is a chance that the trade can go wrong. After all, most bots promise a 99% win rate. There is a 1% chance of wrong trade.
What are Auto Trading Bots?
An auto trading robot is a computer software running with a specific algorithm that trades several assets, some of which may or may not be bitcoin, in a single transaction. The majority of trading systems used by FX traders and stock traders can be classified as “auto-trading platforms” in this context. A bitcoin trading robot, on the other hand, is a robot that specializes in cryptocurrency trading.
A significant percentage of auto-trading robots are semi-auto, which means that traders must have some level of trading experience to use them effectively. Furthermore, they may necessitate a large amount of monitoring to function efficiently.
For people wishing to speculate across a variety of asset classes, automated trading robots are an excellent option. If you are also interested in binary options and forex, you might consider using one of these sorts of robots.
Advantages of Auto Trading Bots
Reduces The Possibility of Human Error
Trading software can considerably reduce the likelihood of human error resulting in a deal being negatively affected. The tactics and tools that these bots employ are all the result of extensive research and analysis of the digital currency market and trading habits. This automated system requires very little input from humans, which significantly decreases the likelihood of any human errors occurring in the system. To reduce the possibility of human error, they can delegate the responsibility for trade execution to automated systems.
Removes Emotional Trading Choices
Using automated trading software, the impact of emotions on the trading process is minimized throughout the process. A trade order can be automatically handled in automated trading if and when certain specified parameters are met. The traders will no longer be able to second-guess their decisions as a result of this. These bots assist traders to stay on track with their tactics and goals, rather than hesitating or second-guessing their judgments because they keep their emotions under control.
Trade in a Variety of Markets
Trades made with automated bots allow a trader to diversify their portfolio by trading multiple accounts or different methods at the same time. It can also scan for trading opportunities on many markets, generate orders, and monitor deals in real-time without experiencing any errors or failures, according to the developer. This is something that a human being is incapable of accomplishing. This diversification of the portfolio can help spread the risk across a variety of digital assets while also acting as a hedge against any losses incurred.
The automatic trading systems are available 24/7 without tiring. As a result, they are extremely responsive to shifts in market circumstances and volatility. Once the trading rules or criteria are met, they immediately generate trade orders, which include protective stop losses and profit goals. In the volatile cryptocurrency trading market, a few seconds variation in the time it takes to enter or exit a deal can make a significant impact on the outcome of the transaction.
Disadvantages of Auto Trading Robots
Although auto trading robots have high-profit potential, they are not without their disadvantages. One of these disadvantages is the danger involved with the usage of leverage, which is one of the factors that they must consider. Most automated trading robots trade with leverage of up to 1:1000. This means that the profits or losses made by them are multiplied by the number of times they have been multiplied.
Some traders have had negative balance losses as a result of using trading robots that do not include negative balance protection. A negative account indicates that the trader has incurred a financial obligation to the broker. Before selecting a robot, it is usually advisable to investigate the risk management solutions provided by a partner robot broker.
Which Celebrities Endorsed Bitcoin Robots?
Ashton Kutcher Bitcoin
Ashton Kutcher is an American actor, model, producer, and entrepreneur who was born in Los Angeles, California. Kutcher is a great lover of bitcoin, and he is also an active investor in the bitcoin market. There is, however, no proof that he has used or endorsed bitcoin robots in the past.
Bill Gates Bitcoin
Gates is an American business magnate, software developer, investor, author, and philanthropist. He is the founder of Microsoft Corporation. There have been rumours about Gates’ endorsement of bitcoin bots. This is absolutely a lie. The Billionaire has expressed his distaste for bitcoin on the media earlier this year.
Elon Musk Bitcoin
Elon Musk, an American businessman and billionaire who is also the CEO of SpaceX and Tesla, has expressed an interest in bitcoin and has invested in it. However, there is no evidence to suggest that he had backed any bitcoin bot in particular. Any website making such a claim should be avoided at all costs.
Gordon Ramsay Bitcoin
Gordon Ramsay is a well-known television personality, author, chef, and entrepreneur. We examined the internet and Gordon’s social media websites, as well as his YouTube channel, for information. Unfortunately, we were unable to locate any reference to or endorsement of Bitcoin Loophole on his website. As a result, we are confident that this rumour is untrue
Dragons Den Bitcoin
Dragons Den is a British television programme in which young entrepreneurs are given three minutes to present their business ideas to a panel of five millionaires who are willing to offer their own money, time, and talents to help the company get off the ground. However, this is not the case. It is a show with millions of viewers, and if this is true featured platforms would have become well-known overnight.
Floyd Mayweather Bitcoin
Floyd Mayweather is a professional boxer and a reigning champion. Although Mayweather is a huge fan of cryptocurrency, yet, we can’t same the same about bitcoin. He attended a bitcoin event in Miami where he downplayed bitcoin to say that another crypto will come up big just like bitcoin. He might have invested in bitcoin, but nothing is confirming his endorsement of trading bots.
Shark Tank Bitcoin
Shark Tank is a TV Show where prospective entrepreneurs would come to pitch their business ideas to investors and try to persuade them to invest in their intended venture. There have been rumours that certain bitcoin robots have been featured on the Shark Tank television show. There has been no evidence of this. You can find practically all of the episodes of this show available online, and we did not come across any that mentioned any bitcoin robot.
Jeff Bezos Bitcoin
Founder of Amazon and richest man on the planet, according to Forbes. He is widely considered to be a supporter of blockchain technology and cryptocurrencies, and there is speculation that he is considering adopting bitcoin as a form of payment for his eCommerce website, Amazon. However, he has made no public statements about his enthusiasm for cryptocurrencies, and there is no evidence that he has made any investments in them.
Her roles in films such as The Titanic, Finding Neverland, and many others have made her a household name in the United Kingdom and around the world. She is one of the celebrities who is rumoured to have made investments in bitcoin-based payment processing systems. We conducted a thorough study and discovered that Kate Winslet has not made any investments in any bitcoin-related systems.
Kanye West Bitcoin
Kanye West is a billionaire and a one-time Rap star. It has been rumoured that he heavily invested in bitcoin. Is this rumour true? Kanye has openly stated his interest and support for cryptocurrency, especially bitcoin. However, there has been no proof of his endorsement of any bitcoin system.
Having explored thousands of customer reviews and tested some of these tools ourselves, we can say for sure that the majority of the auto-trading tools highlighted in today’s guide are legitimate. These trading robots have enjoyed high ratings from customers for their performance, customer service, results, transparency, and more.