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Bitcoin Trader Review 2021

This article will provide a full Bitcoin Trader review. Its accuracy, legitimacy, and all the claims about Bitcoin Trader.

Author: Usman Ahmed Last updated: 08/10/2021

What is Bitcoin Trader?

Bitcoin trader is an automated trading app that allows traders to place crypto trades automatically. Traders can trade round the clock without having to keep an eye on the market. You can configure the trading software as per your trading preferences. After that, you may sit back and watch the software placing trades on its own.

As per the official website of the robot, the trading software is programmed to look for the best trading opportunities using advanced algorithms after retrieving the historical information and analyzing real-time data. The company also claims that the bitcoin trader follows precise decision-making techniques based on its accurate signals and places robust trades with a success rate of more than 99%.

Key Features

Since the website claims that the bitcoin trader can make you rich over just a few months, it tends to support this assertion by emphasizing various critical features of the trading bot which can help traders dream come true.

Claimed Consistent Profitability

The bitcoin trader website claims that the trading bot can become a source of consistent profitability for traders struggling to meet their recurring expenses. It advertises that the bot tends to generate at least $1300 a day, which is undoubtedly a matter of understanding. For example, nowhere, it is written that by investing as little as $250, traders can expect to earn $1300 a day.

The bitcoin trader offers different types of accounts in which traders are asked to deposit anywhere between $250 and $50,000. What if they meant to say that by investing $50,000 you could make $1300 in a day. Well, if this is the case, then it must not be surprising because generating $1300 on the price of losing a lot more than that can’t be difficult.

User Friendly

It has a user-friendly trading interface that even a novice trader can learn how to use it in a day or two. You can also configure the robot very easily by just selecting your trading preferences such as indicators, risk levels, number of trades, and the trade timings from the options available.

Security

Bitcoin trader also claims that it offers the next-level security to clients funds and that trader’s verification process is done within a few minutes. Unlike other legitimate trading websites, the verification process at bitcoin trader is surprisingly too quick that it appears nothing but just a formality. Because, as per compliance with anti-money laundering agencies, traders are not allowed to deposit more than a certain amount unless their identity is confirmed. It is, however, pertinent to mention here that you can deposit as much as $50,000 to your account with the bitcoin trader, and not for even once you will be prompted to confirm your identity first.

Free Accessibility

Traders can access the bitcoin trader for free. All they need is to fund their account to use it. Well, this is no difficult to understand that the bitcoin trader aims to set a trap for investors by first offering them free access to the trading bot and then ask them to fund their accounts before they can start using it.

Demo Accounts

The bitcoin trader also offers a demo account facility where traders are allowed to use virtual funds to try their trading skills and different money management strategies instead of risking their capital. However, it is to be noted that the results in demo accounts tend to vary with that of live account results. There could be varying reasons, including the broker manipulation as such when the trader goes live; the brokers do not execute trades timely or without having them interrupted and interpreted making traders lose the trading opportunity. The robots may also play the same way.

Low Deposits

Traders can use the bitcoin traders for $250 only; this is the minimum amount that you must deposit in your account to start using it. However, the robot doesn’t limit you to deposit more. It solely depends upon the instinct of the trader, whether he wishes to adopt an offensive trading strategy or would like to go for aggressive trading. The amount is just the same as it is asked by many other automated trading software claiming to make you rich overnights.

Accuracy

Bitcoin trader claims that it places trades with absolute accuracy that traders can expect the success rate of 99.4%. The same statement you may find on websites of different trading bots such as bitcoin code, bitcoin superstar, bitcoin loophole, etc. As per many reviews of traders on various social media web pages, they have only lost hundreds of dollars using bitcoin trader and nothing is like the 99.4% success rate even exists. They also express their concerns that most of the time, the robot keeps placing trades even when you try to turn it off. Lately, the company come up with an excuse that there was a systematic issue and they will look into it, what is right in it if you’ve already blown up all your money.

How Does Bitcoin Trader Work?

The bitcoin trader is offered in collaboration with different brokers. You need to sign up for the bitcoin trader app using the registration form available on the official website of the bitcoin trader. After selecting a broker from the list of recommended brokers, you have to fund your account to start trading. Once done with deposits, you can enter the trading interface using your user name and password.

After signing in, the robot needs to be configured as per your desired trading parameters. You can select the amount to place on each trade, the number of deals in one go, and your preferred trading indicators that you want the robot to use if available. Once everything concerning configuration is done, the robot starts placing trades automatically.

The website claims that the robot is intelligent enough to undergo in-depth market analysis and makes informed decisions for placing trades following the best trading opportunities available. To be honest, every other trading bot claims the same features, but you must understand that no robot can ever replace human intelligence. Trading cryptos has always been categorized as a riskier form of investment which needs due care to remain profitable.

How to get started with Bitcoin Trader?

Getting started with bitcoin trader need only a few steps to be followed.

  1. Go to www.bitcointrader.ai or www.bitcointrader-biz
  2. Click on the “Get Access” or Sign Up” option available on the top right corner of the website. It may be found somewhere in the middle of the webpage.
  3. Enter your details on the registration page such as your name, your email id, and your password.
  4. After submitting the above information, you will be redirected to the brokers’ page where you will be prompted to fund your account. The minimum amount to deposit in your account is $250. You need to select your preferred payment method from the list of payment methods available, preferably the debit or credit cards.
  5. Enter the amount i-e $250 and provide your card details including the cardholder name, the expiry date of the card, and the three-pin security code from the backside of your card.
  6. Click “deposit” and there you are done.

Is Bitcoin Trader Legit or Scam?

Looking at the website of the bitcoin trader and the claims it makes, It is not difficult to identify it as one of the scams trading software out there. Just like other scam trading software such as Bitcoin code, Bitcoin Loophole, Bitcoin Superstar, It also claims to generate unrealistic profits. All the above bot companies work on the same pattern and want you to open an account with their recommended brokers and deposit a minimum of $250 to get started.

You may also notice that these robots have almost the same brokers, same style of web page formatting, and same stories to tell that even further confirms their illegitimacy. Also, Bitcoin Trader keeps changing the address of their website on and off. However, they do not change their logo to avoid appearing suspicious.

Does Bitcoin Trader Support Cryptos Other Than Bitcoin?

Initially, Bitcoin traders offered bitcoin trading, but then started advertising that it now supports other crypto assets as well such as Bitcoin Cash, Ripple, Litecoin, Monero, Ethereum, and Dash. The website wants to grab the attention of more people so the lobby behind such scam software can steal big.

Not surprisingly, they have a whole section addressing the concerns of people about its legitimacy. You must not pay any heed towards their so-called logics. They only tend to clean appear clean by justifying with lamed answers. They have posted a video on their front page very cleverly where you can see celebrities like Bill Gates & Richard Branson seems to be appraising bitcoin. However, you can also note that not even a once they said anything about the bitcoin trader.

Can You Make $1300 in 24 Hours With Bitcoin Trader For Real?

Bitcoin trader claims that on average, a person can expect to generate at least $1300 a day. Website of Bitcoin Trader also claims that many of its members have already crossed the benchmark of $1 Million by just trading a few months. However, the website doesn’t provide any proof which could support their claims.

First of all, you can’t be confirmed concerning the outcome while trading cryptos. There are a few reasons for that, including the highly liquid crypto market and its increased volatility levels that make it impossible for traders to expect sure profits. The website tries to play with people’s emotions in such a time when the world is already on the grim of financial crises. More or less all of this trading software tells the same stories and makes false promises as shown above.

Online Reviews, Testimonials, & Media Presence

Are Bitcoin Trader Testimonials Legit?

No, they are not. We do we say so? Let us put forward some facts before you so you can also understand why we do not think them to be the legit ones. Just take a look at the image shared below, these are the screenshots taken from the website www.bitcointrader.ai and https://bitcoineras.com/ in different timings.

Two out of four people who testify the legitimacy of the bitcoin trader and claims that they were quite successful using the bitcoin trader have the same name and address on both of the websites. However, they have different pictures confirming that these images are fake and the people giving testimonials are nothing but paid actors.

What do reviews on Reddit Say about Bitcoin Trader?

While trying to search reviews on Reddit, we came across several posts confirming the bitcoin trader to be a scam trading software. Nearly 11 months ago, “DiogoRemoaldo,” asked a question on Reddit that whether he should be investing with bitcoin trader or not, a lot of replies received on this post and amongst them most of the comments were against the bitcoin trader recommending “DiogoRemoaldo” not to trade with bitcoin trader.

Has Bitcoin Trader been on TV?

Ever since the cryptocurrency came into existence, it remained in the limelight attracting many investors around the world. Celebrities or politicians occasionally spoke about the Bitcoin and other cryptocurrencies on TV. However, the claim that bitcoin trader has been on TV has no ground reality. No information is available confirming this claim good to be true.

Specifically, a few famous shows including shark’s tank and the dragon’s den are said to have broadcasted Bitcoin Trader live. However, this is not true; the hosts of both programs denied any such appearance of bitcoin trader through their shows. The images used to support such claims are also fake.

Shark’s Tank: Shark’s Tank is a famous show broadcasted in the USA. It has the same format as that of the UK’s show Dragon’s Den. Bitcoin Trader neither appeared on the show nor was ever recommended by the show hosts as stated above.

Dragon’s Den: The famous business talk show aired on the UK TV is also rumoured to have broadcasted Bitcoin Trader. Upon confirmation from various resources about the truth concerning the claim, it was revealed that Dragon’s Den has never aired any such trading software, therefore, if you come across such an advertisement, better to ignore them for good.

What do Reviews on Quora Say About Bitcoin Trader?

Likewise, reviews on Reddit, people on quora also seem to be casting their vote against the usage of such scam software. One of the members said that all those trading software asking you to invest a little and earn big profits are for sure the scam ones. They only wish to steal your money by setting up a trap for you to fell in. A few more were arguing that even if some people were successful using the bot, this doesn’t mean everyone should start investing in them since “luck doesn’t remain the same for everyone any time”.

Did Celebrities recommend Bitcoin Trader?

It is common for the trading bots and algorithmic software to claim that various business giants and celebrities have endorsed them. As per the website, several celebrities including Bill Gates, Richard Branson, Peter Jones, Elon Musk, Jim Davidson, Gordon Ramsay, Ant McPartlin, Kate Winslet, and Holly Willoughby also recommended bitcoin trader. Let’s find out what the truth is?

Peter Jones: Peter Jones is an Irish entrepreneur and is often named as the one promoting investment in such trading software. Peter Jones, however, has always denied any statement about Bitcoin Trader and also disclaimed his association with any kind of trading bots. In his tweet in 2018, he clarified that his images used for different fake advertisements were used without his permission.

Gordon Ramsay: The name of the famous chef and kitchen’s nightmare star “Gordon Ramsay” is also being used for the promotion of scam websites and trading bots. No such information could be verified which proves that Gordon Ramsay has ever recommended bitcoin trader or any other software alike. Therefore, you must research if you come across any such advertisement before making your move.

Elon Musk: Unlike other celebrities, Elon Musk has been targeted multiple times for the false promotion of different trading bots. Elan Musk openly accepts the need for the digital revolution and often seems to be praising the good fortune of the bitcoin. However, he didn’t name any trading software that people should choose. He repeatedly announced that even he admires bitcoin a lot. Still, he does not own any bitcoin except the fractional amount of BTC someone gifted him a few years ago.

Kate Winslet: The famous titanic superstar “Kate Winslet” is also said to have been one of the investors of the bitcoin trader. However, this is nothing but a rumour. No information could be obtained, confirming her investment in such trading software. People shouldn’t have any doubt concerning this false claim. Moreover, she said, she would seek legal action against the responsible ones.

Pros & Cons

Advantages of Bitcoin Trader

  • It has a simple and easy to use trading interface which appeals traders the most irrespective of the fact that it is efficient or not
  • It has the excellent speed to place trades and perform market analysis as compared to humans
  • It also offers a demo account where traders can practice their trading skills and try different money management strategies before risking their real money
  • It provides round the clock customer support helping traders to have their queries answered on a run-time basis

Disadvantages of Bitcoin Trader

  • It isn’t regulated. Hence there is no security to your funds. The amount you deposit may not be withdrawn back
  • It is known to swallow a considerable amount of money within no time, means it is expensive to afford
  • It has a slow withdrawal process which may take between 5 to 7 working days to process your withdrawals.

Summary

After reviewing the bitcoin trader in detail, we hold a view that the bitcoin trader is not a legit trading software. It asks you to deposit funds into your account without any proof of identification. It makes false promises that you can generate $1300 in 24 hours. It has multiple domains making it even more suspicious since all of them have the same logo but different addresses. On top of that, the trading bot is known to have your account wiped off in a few minutes.

Therefore, opening an account with a bitcoin trader is ideally your choice. However, you can opt for an alternative trading approach such as opening an account with legitimate exchanges to trade bitcoin such as Etoro. Etoro is the world’s most reputable cryptocurrency trading platform and exchange which offers multiple crypto assets to trade. It is a regulated exchange and has multiple licenses from different regulatory bodies, including ASIC, CySEC, and the FCA across various jurisdictions of the world.

The exchange offers both bitcoin and crypto CFDs trading. You can also choose to sign up for the eToro’s social trading platform where you can copy trades of other successful traders if your fear is losing your investment. Etoro offers a digital wallet as well where you can store your bitcoins and all other supported cryptocurrencies. It supports more than 120 cryptocurrencies which you can store in your eToro’s wallet or have them exchanged with other crypto assets. With eToro’s leveraged crypto trading, traders can open significant positions without buying the underlying assets in full; they can operate on margins, instead. It also offers quick deposits and withdrawals following multiple payment options such as credit cards, debit cards, Skrill, PayPal, and web money, etc.

Number of Coins: 20+
Margin Trading: YES
Minimum Deposit: $200

Invest In Cryptocurrency With $0 Commission

  • Supports Multiple Languages
  • Regulated by FCA, ASIC & CySEC
  • Paypal, Debit & Credit Card Accepted
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Frequently Asked Questions (FAQs)

No, It is not. Almost all bitcoin trading software is not regulated, hence offer no protection to clients’ funds.

It is not. Most of the things we reviewed drew our conclusion to consider it a scam. However, you can have your search as well.

The minimum amount is $250. You need to sign up with one of the recommended brokers of the bitcoin trader and fund your account to get started.

No, at times, bitcoin trader only offers automated trading. The trading robot will be placing trades without human intervention. However, it can be configured as per your trading preferences before setting it to start trading.

It is offered for free to the registered members; you just have to sign up with bitcoin trader to become a member.