What is BTC Robot? Contrary to most cryptocurrency tradingrobots that prompt you to open online accounts with them to trade through a web-based platform, BTC Robotis a standalone program that is downloaded onto your computer. It helps you to trade Bitcoin quicker and more accurately than would be possible if you were trading manually/5. Bitcoin Trade Robot is a trading helper app and it helps in the trade of the digital assets like that of cryptocurrencies. This app has helped a lot of people to earn high . Bitcoin bots are a set of software, or auto-trading tools that are equipped with sophisticated technologies to enable users to bet on bitcoin prices hands-free. In other words, a bitcoin robot is a computer program that automatically trades bitcoin on behalf of the user. The best crypto bots have an alleged win rate of up to 98%.
Btc trade robotBitcoin TradeRobot
Bitcoin was created in and is dubbed the first decentralized cryptocurrency, as it became a huge success throughout the world. Nonetheless, Bitcoin is a decentralized cryptocurrency , which means that no single entity controls the number of Bitcoins or distribution of the currency and its wealth.
A large contribution to Bitcoins continuous rising is due to the fact, that there will only ever be 21 million bitcoins ever created. As well, Bitcoin is largely used as a means of exchange for purchasing other cryptocurrencies.
One must obtain Bitcoin before purchasing many, if not most other types of cryptocurrency. Bitcoin can be purchased and traded in various ways, check out the section below to learn more. For this reason, many brokers, businesses, and exchanges have made it much simpler than it once was to obtain and trade Bitcoin. Traders can trade Bitcoin without purchasing any of the underlying asset, eg, they will never take physical hold of the asset.
Some cryptocurrency exchanges and brokers offer this method of trading for various types of cryptocurrencies. Crypto trading, much like forex trading is simple to grasp. You will start by selecting the asset you want to trade, choose the amount of volume to trade and then look at the charts to understand which way the Bitcoin will move. The broker picks the trading signals and executes them into orders. Bitcoin robots brokers usually rely on advanced trading systems to ensure instant order execution.
The other role of the partner broker is to receive deposits and facilitate transactions. Bitcoin robots are usually not registered as a financial institution and hence lack the legal mandate to receive deposits from the public.
They must, therefore, rely on the brokers to receive the funds and oversee transactions. This ensures that no broker or robot can misuse deposits. Cryptovibes also conducts robot broker reviews to ensure that they are legit. Robot brokers also provide leverage to enable traders to place huge trades using a small deposit.
The best provide leverage of up to which means that traders can bet on positions worth up to five thousand times their capital.
New traders should keep it in mind that leverage is a double-edged sword that has the potential to magnify both the returns and losses. The rule of thumb when trading on such high leverage is to always trade with what you can afford to lose.
As mentioned above, there are many BTC robots out there but only a few of them are legit. But how do we determine that a robot is legit? Trading with any bitcoin robot comes at significant risk.
Only trade with money that you are willing to lose. A good robot should have a user rating of 3. From the user reviews, we look at factors such as performance, ease of use, withdrawal process, customer service, and safety. A legit bitcoin robot should have a proven track record and should be easy to use.
It should also provide a seamless withdrawal process, excellent customer services, and fully secure platforms. At least Click the link below to go to their website. Open account now Bitcoin robot scams updated list For the keen eye, scam bitcoin robots are not hard to detect.
Firstly, the information they present on their website is usually unverifiable. Secondly, their customer service is not reachable through phone or any other method that can be traced. Moreover, the scam bitcoin robots usually partner with sham offshore brokers.
These brokers have a poor online reputation and are not regulated. Here are some scam robots that you should avoid in There are a lot of complaints about each of the above robots and therefore it is advisable that you stay away from them. The main aim of sham bots is to still your deposit.
This implies that they are willing to do anything to get you to deposit more money. The scam bitcoin robot list is, therefore, longer than this. Do not register with a trading robot without enough proof that it is legit.
Feel free to request for any robot review in the comment section below. All you need to get started is to register a free account and click the live button. Bitcoin trading bots are usually license-free even though there are a few that require a monthly subscription fee.
Those that do not charge a license fee generate income by charging a small commission on earnings made through them. We suggest that you only trade with those that are free. It is also important to note that most robots are only available in countries where they have a regulated broker. Here is a step by step guide to help you get started with a bitcoin trading robot. Open any given robot homepage and click the registration button to open an account. You will be provided with a form to submit your name, email, and phone number.
The BTC bots that are license-free make money by charging a small commission on any profits made through them. This model is perfect since it entices them to improve their technologies to ensure that users get a return on their investment.
As mentioned earlier, bitcoin robots rely on regulated brokers to execute trades and facilitate transactions. All regulated brokers are nowadays required to verify the identity and residence of their users. This happens to prevent money laundering. The verification process usually involves the user uploading a clear photo of both sides of their government-issued identity. Proof of residence, on the other hand, involves uploading a recent bank statement or utility bill with the address listed on top.
The whole process can take up to 24 hours. While most brokers allow traders to proceed to deposit and trading before verification, nearly all require users to complete the process before making any withdrawal. You can deposit through most debit and credit cards, Western Union, Wire Transfer, and e-wallets such as Skrill and Neteller.
Some bitcoin robots accept deposits through crypto-wallets. Legit trading bots do not charge any deposit fees. Moreover, they allow users who opt-out of trading to withdraw their capital at no cost.
All legit robots listed above have been proven to be safe and to have a friendly withdrawal process. Most bitcoin trading bots provide a practice account. This account should help you familiarize with the robot before going live.
Remember that in auto trading, a small mistake whether in settings or trading session timing can result in significant losses. It is therefore paramount that you read the trading guide provided by the trading bot in question and practice with its demo before going live. Live trading with most BTC bots happens at a click of a button. Some given users the option to define and adjust risk settings. The semi-auto ones enable users to determine which trading insights they want to be implemented in their accounts.
Moreover, they should avoid changing risk settings. This means that it is possible to build significant wealth through a bitcoin robot. Even the best bitcoin bots come at a degree of risk. It is therefore prudent to only trade with a capital amount you can afford to lose. We have found sad stories of people who lost their entire savings or their children college fund to trading robots. It is imprudent to commit a lot of money to a trading bot that trades on leverage of up to The best trading robots have risk minimization features such as the Negative Balance Protection but remain risky nonetheless.
While most bitcoin bots are fully auto, there are several things that users can do to get good results out of them. These include:. As mentioned earlier, good trading robots are not hard to detect for the keen eye.
Here is a checklist that you should follow when choosing a trading bot. As mentioned earlier, the brokers that a robot collaborates with reveal if it is trustworthy or not. Good robots only partner with well-regulated brokers.
Here is a list of some of the most popular brokers. Alpha Financial Group. There are rumours that some leading bitcoin trading robots are endorsed by celebrities. Click any of the celebrities below to determine which robots they have been mentioned alongside and if they have endorsed them. Ant McPartlin. Conor McGregor. Paul McCartney.
Patrice Mostepe. Jeremy Clarkson. Phillip Schofield. Holly Willoughby. Celeste Barber. There are rumours also claiming that some bitcoin robots have been featured on popular TV shows. The mentioned TV shows include;. While most bitcoin robots out there are scams, there are a few that are legit. Cryptovibes has carried out in-depth research to help you make informed choices.
The robots listed in the legit section have all been tested and proven to work. We have prepared in-depth reviews on all of them to help you determine what works for you.
Feel free to try any of them and leave us a comment below telling us about your experience with any of them. A bitcoin robot is a trading app that trades bitcoin on behalf of its users.