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Blockchain announced Beta Testing on Crypto-Trading Bot
- Updated: December 1, 2020
Are bitcoin Trading Bot scam or legit? And if so, which ones are trustworthy, and which ones should you avoid at all costs?
In this guide, we list the legit bots for 2020 and explain how to sign up, deposit and place your trade, as well as useful tips and strategies you can use to avoid falling victim to scams.
Amadeo Pellicce, Product Manager – Blockchain.com.
If you’ve invested in Bitcoin or any other cryptocurrency, you’ve probably heard of bitcoin robots. A bitcoin robot is a tool that makes the buying and selling decisions on behalf of the trader and executes trades accordingly. Bitcoin robots have a much higher accuracy than humans, which means that they are more likely to make winning trades and generate profits in both rising and falling crypto markets.
However, as more robots have cropped up over the years, so have scam products which have stolen people out of their money, taking advantage of the unregulated market.For this reason, it’s important to be well-informed when selecting a robot. In this guide, we have put them to the test and have discovered which ones appear legit, and the scams that you should steer clear from. Read on to find a legit bitcoin robot today.
What is a Bitcoin trading Robot?
A Bitcoin robot is an auto-trading software that use complex algorithms and mechanisms to scan the Bitcoin markets, read signals and make decisions on which trades to place in order to provide profit.
As a robot, they are far more effective than humans because they are able to scan all information available on a particular cryptocoin (in this instance Bitcoin), and execute trades, all in a matter of seconds.
The way robots work is by looking at buy/sell signals. These signals are what allows the robot to be seconds ahead of the market, which means that you will be able to make bigger profits than everyone else. One of such robots is the popular Bitcoin Revolution robot, which boasts an incredible win rate of 99.4%!
! Bitcoin robots can have up to 99% win rate, meaning that for every ten trades made by each of these robots, at least nine are correct. Two of such robots are Bitcoin Code, and Cryptosoft.
Advantages and Disadvantages of Bitcoin Robots
Understanding the advantages and downfalls of automatic trading are quintessential in extracting the best out of these tools. While robots have some similarities with humans, they differ greatly which can make them both more accurate and more risky.
Advantages
- Robots are far more effective than humans because they are able to scan all information available on a particular cryptocoin and execute trades, all in a matter of seconds.
- Bitcoin robots are not subject to feelings or emotions – they purely base their decisions on logic and algorithms. This makes their accuracy far higher than those of humans. Some robots have an accuracy of up to 99%, which means that they virtually do not place any losing trades.
- Bitcoin robot trading is a lot faster than manual trading. Instead of manually analysing markets, opening an account on a cryptocurrency exchange platform, waiting for verification (this can take up to 2 weeks), waiting for a profitable trade, and going through the withdrawal process, the bitcoin robot will take care of all of this for you.
- Easier than manual trading : all you have to do is make a deposit and leave the system to it. You can then withdraw your profits daily, with no hassles. Reputable robots such as Bitcoin Code even offer 24/7 customer support.
Disadvantages
- Like manual trading, bitcoin robot trading has risks, and are not 100% accurate all the time.
- Robot trading can be complicated for those who are not familiar with them
- The market is unregulated and there are many scams flying around, meaning that users must be well-informed before investing
- Like other types of trading, capital loss is a possibility.
What is an Crypto-Trading Robot?
While a bitcoin robot is a trading robot but not every trading robot is a bitcoin robot. Simply put, trading robots are multi-assets traders which may or may not include bitcoin. Bitcoin robots, on the other hand, are meant for bitcoin trading even though they may also offer access to other cryptocurrencies.
While trading robots are a bit more complex, bitcoin robots can be used by almost anyone. In other words, you do not need any background in finance or cryptocurrencies to trade with bitcoin robots. Any good bitcoin robot will come with a user guide to help you set up an account and start trading.
If you are looking to invest in cryptocurrencies, a bitcoin robot should be your first choice. These tools are not only customized for this type of trading but also gives access to crypto trading opportunities not found anywhere else. If you’re looking to make money by trading forex and stocks, we recommend a trading robot.
How Do I Choose a Trading Robot?
Similarly to bitcoin robots, there are also a lot of trading robots scams going around the web.
The trading robots below rated as “good” and “okay” are those that InsideBitcoins has verified to be legitimate. Those with insufficient rating may be legitimate, but we have not found enough evidence to this effect and we think that may be scams. Read our comprehensive trading robots reviews to learn more by clicking on the brand name.
Blockchain announced Beta Testing Crypto-Trading Bot
At the moment the beta version is accessible just for professional users that use blockchain for a long time and have money turnover, at least 0.1 bitcoin.
Start testing new trading bot with Blockchain for free!
Try Now
Blockchain
Fast automated trading, and portfolio management for Bitcoin, Ethereum, Litecoin on the world’s top crypto exchanges.
Other Legit Auto-Trading Robots
We found the following auto-trading robots to appear legit and promise great returns. With these robots, you can trade forex currency pairs, stocks and commodities.
Scam Auto-Trading Robots
After having tested these auto-trading robots we have concluded that they are scams. We would recommend anyone to steer clear from the following bots and try one from our recommended auto-trading robot list instead.
Have any celebrities endorsed bitcoin robots?
There are a number of rumors circulating around the web that link various celebrities to bitcoin systems. These allegations have created a lot of hype around robots such as Bitcoin Code, Bitcoin Loophole and Bitcoin Trader amongst others. In the pages below, we go through each celebrity and reveal whether they have invested in Bitcoin through bitcoin robots or not.
Have any TV shows endorsed bitcoin robots?
Dragons Den Bitcoin This Morning Bitcoin
The Project Bitcoin Shark Tank Bitcoin
Make money with Trading Bot
Final Thoughts on Robots
To conclude, if you’re looking to trade cryptocurrencies, stocks, forex or even cannabis stocks, a robot is a good choice. The technology behind them is based on algorithms which means that nine times out of ten, they will make better choices than humans. Automated trading robots have shown that you don’t need to be an expert to be able to make a side income. The one we recommend you start with is Bitcoin Revolution.
However, when trading with bitcoin robots, or regular autotrading robots, we strongly recommend that you do your research beforehand. Is the robot legit ? Does it have a professional website? Are there testimonials you can read? Is there information on the web about the founder, and how the software operates? These are questions that you should ask yourself before investing.
Only once these answers have been provided should you invest.
Bitcoin Robot FAQ
How do bitcoin robots work?
Bitcoin robots are algorithms that make lots of Bitcoin trades in short periods of time. They read the markets, knowing the right moment to buy and sell for maximum profits. Users pool their money so that the robots have funds to invest, then the robots share their profits with the people who put their money forward in the first place.
Can I buy Bitcoin with a bitcoin trading robot?
Actually, no. Bitcoin robots settle all accounts with cash. You’ll invest with dollars (or whatever your local currency is) and your returns will also be in dollars. No BTC actually trades through the platform.
Are bitcoin robots all scams?
No. Some Bitcoin robots are scams. Other Bitcoin robots are not scams. Learn to tell the difference by following our reviews.
Do other kinds of investing use trading robots?
Yes. Stocks, bonds, you name it. Wherever there are assets being traded on the internet, there are robots trying to beat the system.
Why do celebrities get associated with bitcoin robots?
For the most part, celebrities do not endorse Bitcoin robots. Most of what you hear about are marketing ploys from robot scams.
Where do I go if I want to buy real bitcoin?
Brokers like Coinbase will allow you to buy real Bitcoin with your local currency.
Is bitcoin run by robots like there?
No. Bitcoin is partially run by computers, but these computers are not used for trading. They’re used in Bitcoin mining, which secures the network and introduces new Bitcoins to the marketplace.
Do other cryptocurrencies have trading robots?
All of the popular cryptocurrencies have trading robots, especially Bitcoin, EOS, Ripple, and Litecoin.
Bitcoin crashed. Will the price bounce back?
No one can tell the future, but we believe that Bitcoin prices will recover and even surpass previous all time highs.
Is now a good time to buy Bitcoin?
With Bitcoin prices lower than they’ve been in a long time, and lots of good news for Bitcoin coming out in general, now might be an excellent time to buy Bitcoin.
