Bitcoin Robot – How crypto robots work and how investors can find legitimate trading bots
There are many ways to trade cryptocurrencies. Automatic Bitcoin trading with crypto robots is particularly promising. An algorithm decides on the purchase and sale of digital currencies. Bitcoin robots and automated trading softwares such as Bitcoin Code, Bitcoin Era or Bitcoin Revolution promise high success rates of more than 90 percent. Is this even possible or is this a scam? In this Bitcoin Robot review, we take a close look at several providers. Read the best tips and the answers to the most important questions right at the beginning!
BITCOIN ROBOT REVIEWS – RECOMMENDATIONS & TIPS
In our Bitcoin Robot test, we compared the best-known providers and took a close look at the offers.
Note: Automatic trading with crypto robots is very non-transparent, which is why we generally advise against Bitcoin robots. It is better to use well-known and, above all, regulated providers for investments.
Product recommendation: You can trade cryptocurrencies, for example, with the properly regulated CFD broker. But then you should definitely know the opportunities and risks of CFD trading.
Tip: If you want to try out a crypto robot despite the risks, first use a demo account for your first Bitcoin Robot test. Also read reviews of Bitcoin Era, Bitcoin Code and Bitcoin Revolution .
BITCOIN ROBOT EXPERIENCES – THE MOST IMPORTANT THINGS IN BRIEF
Bitcoin Robots are designed to enable fully automated trading in cryptocurrencies such as Bitcoin, Ethereum and Cardano. Thanks to the algorithm, crypto robots promise particularly high profits when buying and selling digital assets. Is this serious or are Bitcoin Robots scams?
Important: The Federal Financial Supervisory Authority has Bitcoin Robots in its sights, and BaFin is already investigating those responsible for Bitcoin Code.
HOW DOES A BITCOIN ROBOT WORK?
Anyone who wants to gain Bitcoin Robot experience will ask themselves the question beforehand: Is automatic trading in cryptocurrencies that easy to implement? Does Bitcoin Autotrading even work? And is it allowed? Below we answer exactly these questions – these are our Bitcoin Robot experiences!
There are now many providers who promise automatic trading based on algorithms and high profits. The applications should automatically evaluate the situations on the crypto market and react to them in such a way that users can generate profits without any further action. Among other things, price indicators are assessed and the actions of various market participants are also taken into account. The development of prices and volumes are included in the forecast in order to be able to calculate a trend for the future.
But can investors really do successful trading with this and is there a profit guarantee? Basically, nothing can be denied, because the sophisticated algorithms are now very accurate – similar to those of well-known trading platforms.
As a result, this means significantly less effort for you as an investor when trading digital assets. Bitcoin Robots completely relieve you of the observation and evaluation of market events, so you don’t have to deal with fluctuations in cryptocurrencies around the clock. The Bitcoin Bot also makes buying and selling decisions independently based on the automatically performed analyses. Each provider of crypto bots uses its own functions that are responsible for the calculations and decisions. Because of this, you will find that different bitcoin trading bots can also take different actions.
BITCOIN ROBOT AND TRADING ROBOT: DIFFERENCES
If you have already read up on the topic of automatic trading, you have certainly come across the term “trading robot”. Even if it sounds very similar at first, there are a few differences between a Bitcoin bot and a trading robot. Basically, both offers are systems for automatic trading, but the trading bot is about much more than trading with cryptocurrencies.
Accordingly, as an investor with a trading robot, you have the opportunity to trade shares, foreign exchange currency and other assets and stock market products in addition to bitcoins. There are also so-called crypto bots, which you can use to trade a wide variety of digital coins. So using the three terms as synonyms is not entirely correct, even if a Bitcoin bot is always a crypto bot and a trading bot at the same time. Just not the other way around.
A bitcoin robot works automatically according to algorithms. According to the provider, this Bitcoin auto-trading should be particularly successful. If you do not want to rely on this and take the BaFin warnings seriously, then you can also invest in Bitcoin, Ethereum and Co. with „traditional“ crypto trading . Take a look at eToro for example.
There you can buy and sell all major cryptocurrencies via CFD. eToro is properly regulated, you can open an account in 15 minutes and make deposits easily via PayPal or credit card. Important: It is essential that you already have experience trading CFDs.
HOW TO RECOGNIZE A GOOD BITCOIN ROBOT
Bitcoin robots often target investors with little experience. The language on the websites of the providers and the prospect of high profits can put pressure on one or the other potential crypto investor.
Don’t let this influence you and take your time to look at what’s on offer. Check whether „your“ Bitcoin Robot is properly regulated and be sure to test the offer with a demo account before you start trading with real money. In the following we summarize for you which points you should pay attention to when choosing the right robot for your investment in coins and tokens.
THE HOME PAGE
The first step is to find your way around the homepages of the various providers. Expectations of high profits are usually fueled on these and big promises are made about crypto trading. Of course, you shouldn’t approach it completely naïvely, but weigh it up.
Which formulations are realistic and which are not? You should also pay attention to whether the robot draws your attention to important safety aspects and certain risks. So you know that work is done seriously on this platform. Of course, you will not become a millionaire overnight with a small starting capital, but small amounts are just right for trying out the various bots for the first time.
Signing up works similarly on most platforms and shouldn’t take a lot of time. In general, it is important that not too much data is requested during registration. The entry of first and last name as well as e-mail address and telephone number are the rule.
THE DEMO MODE
So that you can first familiarize yourself with the respective Bitcoin Bot, there is a demo mode on many reputable sites or the associated apps. It allows you to get to know the content as well as to carry out the first trading tests. This way you can get a feel for the handling and get your first Bitcoin Robot experience with “test money” before trading your real assets.
At the beginning we recommend to make a small deposit. As a rule, crypto trading with the providers is possible from a minimum deposit of 250 dollars or 250 euros. With this bet you can make your first trades with most robots.
The platforms primarily accept credit cards as a form of payment, but bank transfers or PayPal are sometimes also accepted. You should also make sure that all transactions are encrypted using the SSL standard.
THE FIRST TRADE
After defining your personal settings – for example the conditions for a purchase or sale – the Bitcoin Robot can start trading. Reliable sites not only show you the amount of the position packages, but also openly present other important properties of the respective trades. This means that you as an investor can always see whether profits or losses were made – and for what reasons. Don’t miss any more current recommendations on the topics of Bitcoin, Ethereum & Co.!
HOW DO I RECOGNIZE REPUTABLE BITCOIN ROBOTS?
With the large selection of platforms for fully automated Bitcoin trading, there are unfortunately many offers that we have to advise against. The appearance of some providers is simply dubious and the way many Bitcoin robots work is not transparent. There are quite a few crypto bots that BaFin warns about and against which BaFin is even investigating.
SIGNS OF SCAM AND FRAUD
Are there any serious offers or are Bitcoin Robots a scam? In our Bitcoin Robot test, we could not identify a recommendable provider. Almost all platforms that offer automatic trading with cryptocurrencies attracted our attention in several respects. Also look out for the following warning signs:
Exaggerated promises of profit: Ignore offers with strikingly high success rates and promises of returns.
Site operator: Check whether the provider’s platform has an imprint. Is it possible to identify who is responsible for the offer?
Intransparency: Do you understand the Bitcoin Robot business model? If you should only receive more information after contacting us or registering, then it’s better to keep your hands off it.
Headquarters abroad: Under no circumstances should you invest your capital if the provider has its headquarters abroad. If the worst comes to the worst, this can make it even more difficult for you to recover lost money or enforce rights.
Recruit customers: You should ignore requests from the provider to recruit new customers. This is especially true if you are promised high commissions or discounts. The consumer advice center suspects a forbidden pyramid scheme behind some dubious offers.
Unwanted contact: If you are contacted by providers (e.g. by e-mail) even though you have not previously been interested in Bitcoin, Ethereum and Co., you should be careful.
MAKE YOUR OWN EXPERIENCES!
If you want to make your own Bitcoin Robot experiences, then pay attention to positive experiences of other users. However, consider that these may be fake. Ask yourself the following questions: Is the website appearance serious? Are risks in crypto trading also shown? Is the information about potential returns realistic? What is the structure and language of the website? Can the results of the Bitcoin robot be understood?
WHEN IT COMES TO CRYPTO TRADING, YOU CAN LOSE TOO!
Even if you find a reputable provider with automatic crypto trading, it is possible that you will still have to take losses. You should find such a notice on every reliable provider site.
The fact that some crypto bots promise daily profits of over 1,000 euros is dubious. Of course, this can happen in rare cases, but if your Bitcoin Robot sells you this best-case scenario as normal, then you have most likely ended up on a dubious site.
Our recommendation: Stay away from dubious Bitcoin robots and choose well-known providers that are properly regulated. If you want to trade cryptocurrencies, then you can buy and sell bitcoin CFDs with eToro , for example.
At Plus500 you can open an account in 15 minutes and make deposits easily via PayPal or credit card. If you want to open a Plus500 depot, then you should know the opportunities and risks of CFD trading.
BITCOIN ROBOTS – YOU SHOULD DO THIS
Do not be lured by the providers‘ dubious promises of profit, choose regulated providers for your investments.
Heed the warnings about Bitcoin robots and read the information from the consumer advice centers.
If you want to collect your own Bitcoin Robot experience despite the risk and warnings, then first open a demo account and only trade with the minimum deposit amount.