How does a Bitcoin Bot work?
Bitcoin Trading Bot Experience
Bitcoin Bot sounds so technical and too cryptic and inscrutable for some investors. But they are Bitcoin trading robots. And robots are known to be made to make life and work easier for us humans. So don’t be shy about Bitcoin Trading Robots. We show how it works.
A Bitcoin Bot is programmed to automatically use trading signals. Countless offers are available on the market. The Bitcoin Trading Bot “Bitcoin Era” is one of the best known, along with Bitcoin Profit and Bitcoin Revolution. All three bots enjoy an excellent reputation in the online trader community and we would like to show you which of the three is in our experience the best Bitcoin Trading Bot.
The three best Bitcoin Trading Robots in Comparison
Currently, many traders are squinting at the bots. The idea of automatically achieving positive trading results without having to trade yourself is too tempting. We took a closer look at the three popular bots “Bitcoin Era”, Bitcoin Profit and Bitcoin Revolution, as they offer similar trading concepts. All three advertise the fact that the trading results of their bots are much higher than those of manual trading. As a rule, positive results are even achieved several times a day with day trading. Whether this is really true, we have tested and share our results here with you.
#1 Bitcoin Era – about 92% positive trades
By 2017, Bitcoin Era has already achieved a verified win rate of 90%. Traders can enter with a minimum deposit of $250. Maximum payout per day and customer: $465. According to the operator, profits in excess of $50,000 are regularly paid out after only seven days. Traders can trade Bitcoin and other crypto currencies such as Ripple, Ethereum, Monero, ZCash and other Altcoins.
The Trading Cockpit is user friendly and can also be used for manual trading. When auto trading, the user profile takes over the signals of the trading bot. This is practical, because the trader gains valuable time and does not have to pay attention to the charts himself.
Interesting: Bitcoin Era has actively partnered with the CFD and Forex broker XMarkets.
Trading at Bitcoin Era – simple and fast
The registration is done by email without double opt-in confirmation. The money to be traded should be deposited on XMarkets.
There is no demo version. The trader must deposit the minimum deposit of $250 to test the software live.
The following trading versions are available:
- Classic trading method
- Martingale Fibonacci sequence – here the stake is doubled again and again. The leverage can be adjusted individually.
#2 Bitcoin Profit – full 90% success rate
Bitcoin Profit is probably best known in the market. The operators are preceded by their reputation as competent and serious. None other than Sven Hegel, former software developer on Wall Street, developed the Bitcoin code platform. The Bitcoin Trading Bot also offers trading in various other crypto currencies. The Trading Bot itself determines with which cryptocoins it trades.
According to the company, the success rate of automated trades is currently at a whopping 90.4%. The initial deposit is $250. The user decides which exchanges he wants to connect to and the automated bot starts trading.
The company advertises that the software generates up to $13,000 profit a day for its customers. On the Internet, however, one can also find many scam accusations. To find out what is the truth, we have tested the software for you.
Bitcoin Profit also requires a simple registration without the double opt-in procedure. Short and crisp. Sign up, deposit, get started. For skeptics and beginners, we recommend using the free demo account offered.
New trading signals of assets with high percentage quality appear on the website tout jour. The bitcoin bot automatically takes over the opening of a position after clicking on “Open signal”. Profits are achieved comparatively quickly with Bitcoin Profit.
#3 Bitcoin Revolution – Similar to Bitcoin Era
The two platforms are almost identical and can be operated in the same way. The main difference is the possible weekly profit. At 500 euros per user per week, this is much lower for Bitcoin Revolution than for Bitcoin Era. According to the company, the users’ experience through the bank is positive. Success stories of up to EUR3,000 profit per day and trader can be found on the website.
Both manual and autotrading work almost identically to Bitcoin Era. Advantage here: Trading signals do not need to be confirmed manually, as the bot executes and closes all trades automatically and autonomously when you click on “Automatic Trading”.
As with the other two platforms, registration is by email and without double opt-in. In addition, telephone number, first name and surname are requested. Directly after the registration you can start immediately. Simply deposit, confirm automatic trading and look forward to the profits.
How does a Bitcoin Bot work?
A bot only performs a technical price analysis of the currencies implemented in the software and not a fundamental analysis. The bot knows the specifics of the individual assets, such as Bitcoin, Ripple or Ethereum, very well. In addition, it usually takes into account the current price and trading volume before sending a buy or sell signal.
Based on decades of experience in the Forex market, new and above all recurring patterns have been found, according to which assets usually behave in the market. Currency pairs, stock prices and other parameters were examined.
These patterns are strongly considered in day trading in order to achieve smaller and smaller profits, which can add up to a considerable total profit in the course of a day. On the basis of these patterns and experiences, experienced developers have developed programs that enable fully automated trading. The possibility of fully automated day trading has also been available for trading crypto currencies for quite some time.
The task of the bots is to recognize trends early, draw conclusions from the experience of past trades and automatically open and close positions for the trader. Although the success rate is not 100%, experience shows that it is much higher than with manual trading. It is expected that at least 70% of the trades will be successfully completed. In the long run, the trader should exit trading with profits.
What results does a Bitcoin Trading Bot deliver?
In general, a well-programmed Bitcoin Trading Bot delivers similar efficient results as a professional trader. Thanks to the volatility of the crypto market, profits in day trading are traditionally higher than in the Forex market. Profits of over 200% per week are easily possible. Experience shows that the profits are even significantly higher. In 2017, trading with Ethereum alone brought many a trader profits of more than 8000%.
Day trading with the help of a Bitcoin Bot – Experience?
Currently, trading with crypto currencies is an El Dorado for every investor. Why not simplify your life a bit and use the services of a Bitcoin Trading Robot? Although the biggest profits in the crypto area are still made in long-term trading, there is nothing to be said against adding automated day trading to the portfolio. Especially since the use of a bot is also suitable for beginners.
Conclusion: Compared to other trading strategies, the three tested bots “Bitcoin Trader”, Bitcoin Code and Ethereum Code are much simpler. They are ideal for beginners or traders who do not want to or cannot spend their time in front of the computer day and night.
Bitcoin Trading Robots – Risks
In the meantime, thanks to its growing popularity, a solid industry has established itself around the Bitcoin Trading Robot. Unfortunately, this is also true here: Where there is much light, there is also much shadow and black sheep lurk. So keep your eyes open when choosing the right Bitcoin Trading Bot. In addition to the three established platforms “Bitcoin Trader”, Bitcoin Code and Ethereum Code, there are unfortunately a few fraudsters. Here are all the Bitcoin bots that we have exposed as scammers.
Two characteristics of a Trading Rip-Off
Firstly, websites are published whose operators are not able to deliver the offered trading system at all. The deposited client funds are simply retained and not used for trading. Be skeptical if you do not receive a double opt-in email upon registration.
Secondly, the trading platforms deliver automated trades, but they are set up in such a way that speculators only lose in the long run.
Important: Where there is a lot to win, there is unfortunately a lot of fraud and rip-offs, so be aware of this before you start trading.
To this day, the trade with crypto currencies is hardly regulated by the state. So if something goes wrong, investors can only plead fraud, if at all, due to a lack of legal possibilities in criminal prosecution.
Is trading with a Bitcoin Bot recommended?
Basically YES, as long as you work with the right software. On all three platforms presented, long-term profits can be made. If you decide to use a bot, make sure that you do not end up with a fraudster. Rule of thumb: The less power of disposal the bot used has over your money, the more secure your investment is protected against fraud and external access.