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The lure of profits in Bitcoin trading is an attractive proposition for traders as the financial press reports on the record-shattering profits of crypto investment. An automated trading robot like Bitcoin Prime is marketed as a genius-inspired software which users can leverage on to maximise cryptocurrency investment returns. The proprietary AI-driven software uses cutting edge programming to give users the best possible returns. While the claims are exciting, the question that others have in mind could be—is Bitcoin Prime safe and secure?
This review is here to answer your concerns on how the crypto robot works and the trading features to expect.
What is Bitcoin Prime?
Bitcoin Prime is an AI-powered algorithm that analyses global cryptocurrency markets for profitable opportunities to maximise the win-rate for users. The bot's website states that it provides trading opportunities against major fiat currencies and leading altcoins to scoop high returns that are difficult to match by other crypto trading robots. Major fiat pairs include EUR, GBP, and USD.
Who’s Behind Bitcoin Prime?
On the Bitcoin Prime website, the creator of this trading software is identified as Steve McKay, who is described as an ex-Wall Street trader with proven results. The idea behind the trading bot is described as a replication of the winning strategies used by big banks to make huge profits.
The bot provides access to regulated brokers in over 150 countries that make the platform available to investors across their respective territories. While different brokers are available, the investor cannot choose a broker, as the system automatically matches a trader with a broker.
How to Use Bitcoin Prime
To use the crypto robot, you need to have a registered account, which is free to open when you provide your email, name and a contact phone number. You will be required to verify your account, first by clicking on the new user registration link sent to your inbox. You are also required to provide a means of personal identification like a driver's license or national passport.
With governments around the world specifying new guidelines for cryptocurrency trading, you should expect to complete your KYC and AML procedures. The processes are similar to opening a bank account.
2. Funding Your Account
Your new account must be funded before you can begin to trade. Normally, a range of options is available to make your deposit. Credit and debit cards, SEPA (in the EU area), bank transfers, and PayPal are commonly available. The minimum deposit here is $250, and there are no fees charged when you make your deposit.
3. Start Trading
Just before you begin to trade, you should take time out to read the trading manual and other educational resources about the bot. This will give you the needed insight on how to proceed. On the user dashboard, after you log in, you will find an icon for trading manual on the slide pane, and just by clicking on it, you will be able to access it in another window.
This crypto tading bot comes with a demo account feature. You should practice trading with the demo account, which is also free and with no risk of loss as no actual tokens are involved in this practice trading. As you orientate yourself to Bitcoin trading with this software, you will be better placed to trade confidently.
It is also important to note that professional investment advisors recommend that you learn to use the stop-loss feature on the app. This will help you minimise losses in the event of a price crash.
A trader can also set trading parameters like how much to trade with, frequency of withdrawal, and the preferred trading pairs.
Key Features of Bitcoin Prime
Here are the key features of Bitcoin Prime that you should get familiar with.
We noted from the claims of users of the bot that payouts are impressive when trading with Bitcoin Prime. The average rate of profitability is reported to be as high as 60 per cent. Several testimonials on many websites highlight the positive feedback by users of this Bitcoin trading software, and they alluded to its profitability. However, the profits will be determined by the experience level of a trader and the capital deployed so its best to start small as trading in cryptocurrencies is risky due to the volatile nature of the markets.
With the ease of verification described by users of the bot, this procedure is fast and easy to complete. Before live trading is authorised for a new registrant, a government-issued ID card is required to be submitted for the verification process. Other documents like a credit card statement for credit card users might also be required.
New accounts are normally validated within a few hours of submitting the required documents. Just before trading begins, you will need to link your bank account to the bot to enable you to have a seamless process. This again is a pointer to the fact that crypto trading is now regulated, and this means better standards and accountability. As an investor, it is advisable to use platforms that adhere to verification procedures for the enhanced security of your investment. Regulated brokers are ethical, and you can expect them to play by the rules, unlike unregulated platforms that can disappear overnight.
The Withdrawal Process for Bitcoin Prime Robot
At the end of each trading day, you can withdraw your profit directly to your bank account. Users can set their withdrawal frequency and can withdraw profits daily on the platform with no restrictions. Withdrawals are processed immediately or at most within 24 hours.
Costs and Fees
Bitcoin Prime reportedly allows users to withdraw all their profits with no restrictions. Associated fees will only be for bank processing as no charges arise when you make withdrawals on the bot.
The platform does charge transaction fees. For example, when you deposit with a credit card, you will pay processing fees charged by the bank. Withdrawals made by bank transfer are also fee inclusive. In each case, the processing fees are minimal.
When you withdraw or sell bitcoin, there is a fee charged by the blockchain that must be paid to transfer the bitcoin you sold from your wallet to that of the buyer. This fee does not go to the broker or the bot.
As you register on the bot, the first encounter with customer service comes in quickly. This is what we pleasantly discovered as we tried out the bot to see what it has to offer. A Bitcoin Prime customer representative will place a call to show you how the platform works and to answer your initial questions.
When you start trading, you will notice the live chat feature in your account dashboard. Here, when you click on the support icon, you will be able to send a message to the customer service and get a response almost immediately. Support is available 24/7, and you can also send an email to have your queries resolved. While traffic on customer service numbers can be high sometimes, the good news is that prompt attention is provided to users of the platform.
Bitcoin Prime works with a global team of brokers on its network that are regulated in the various jurisdictions of their operations. While brokers will provide an end-to-end encrypted platform for investors to use, the trading algorithm provided is run by Bitcoin Prime, and this is how many people around the world can access the bot. While some people could worry about the security of their data, the nature of MT4 and MT5 systems used by most brokers is such that makes it rather difficult for intruders to access your data without your account credentials.
Regulated brokers use MT4 for stock brokerage and MT5 for CFDs and crypto trading accounts. With a reputation and peer standing to protect, these brokers are a gateway to trading with Bitcoin Prime. These trading platforms are widely regarded and upheld as industry standards by the likes of the US Security and Exchange Commission (SEC) and the UK Financial Conduct Authority (FCA).
CFDs often require a higher level of understanding than stock or crypto trading. With its higher risk profile, each investor must pay attention to how it works and understand the risks underlying it. Most crypto exchanges do not offer CFDs and brokers are the major avenues used for this investment.
Is Bitcoin Prime a Scam?
Looking at the testimonials provided on the trading bot page and other websites, it does appear that Bitcoin Prime is not a scam. The brokers on the bot network that we were matched with while we tried out the app are reportedly regulated and credible. The positive feedback provided by users from across the globe suggest that when Bitcoin Prime is correctly used, the tenuous process of crypto trading is simplified.
5 Reasons to Use Bitcoin Prime for Trading
While some cryptocurrency traders are stuck in manual trading, there are enough reasons to sign up for a crypto trading bot like Bitcoin Prime. Let us examine the case for automated trades below:
1. Intuitive User Interface
To use the bot dashboard is easy and the outline is user-friendly with simple prompts that do not require complex technical knowledge to understand. Anyone familiar with an email inbox will be able to use the bot. The design of the software was optimised to meet the needs of newbies and experienced traders, and this is one of the marketplace advantages it enjoys.
2. Boasts Market-Leading Win Rate
One of the points of discourse with crypto trading bots always revolves around the win-rate. Users want to be sure that a bot can work as efficiently as described. While some bots are rated at below 50 per cent in win-rate, Bitcoin Prime is reported to be above 60 per cent.
3. Faster than Manual Trading
Financial markets thrive on data and investors invariably need timely information to be able to maximize profits. Crypto trading is particularly volatile, and a huge trove of data gets generated by the minute for over 8,000 cryptocurrencies. To be able to identify profitable pairs and make the first moves is largely impossible except with the help of trading software. To be focused on a trading screen all day can be exhausting for manual traders and automated trading software makes a difference with optimised analytics, rapid processing, and computational competences.
4. Smart Analytics
When bots process data, it happens in split seconds, and as openings arise in global markets, the first responders always get the best deal. Bitcoin Prime as described, can identify differences in market quotes, demand levels and profitability and execute the desired positions for its users.
Considering that there are hundreds of marketplaces around the world, there will be differences in demand levels and market prices. This scenario creates room for arbitrage, which is to move resources from areas of less demand to high demand and make more profits. Crypto trading bots are better placed to help investors optimise arbitrage and Bitcoin Prime does this excellently based on its website description.
5. Remove Human Error
Investment experts indicate that a successful trader must be able to separate emotions from market moves. The reality here is that it takes years of training for humans to master their emotions and trade profitably, and only a few people ever get there. With crypto trading bots, not only are your emotions not involved, but the software also optimises trading positions purely based on market data. In contrast, humans surrender to tiredness and laws of diminishing returns when trading manually, and are thereby prone to make errors.
Advantages and Disadvantages of Bitcoin Prime
Bitcoin Prime: Our Conclusion
Bitcoin Prime provides users with an opportunity to trade cryptocurrencies profitably and efficiently. With the arduous task of analysing multiple cryptocurrencies for optimal returns, it is a better pathway to use a trading robot than to rely on error-prone manual efforts.
While crypto trading is often reported, another option is to consider CFD trading. CFDs are regarded as high-risk, high-return investments that require a better market understanding to minimise losses.
Each investor is advised to learn the peculiarities of each investment pathway because of the high-risk element, also to use risk management measures like stop-loss and profit-taking for optimal outcomes.
Frequently Asked Questions
Various online reviews and user testaments profess Bitcoin Prime as an authentic trading robot.
The official Bitcoin Prime website claims Bitcoin Prime requires users to set aside just an hour of their time each day to spend on the program.
It is difficult to specify a figure for this question because how much you earn depends on your crypto trading skills, the prevailing market conditions, and the amount of trading capital you are willing to stake.
You should acquire as much knowledge as is humanly possible on automated crypto trading. For your benefit, exploit the demo trading feature that Bitcoin Prime provides to practise the acquired knowledge. Also critical is your knowledge of current happenings in the crypto market.
Products such as Bitcoin Prime collaborate with brokers from around the world to deliver their services. There is no guarantee that the assigned broker is regulated, which makes it critical to check the legal status of the assigned broker before making further steps.
No. Crypto markets experience a lot of speculative activities that raise volatility levels so high that no trading robot can assure users of income.
Yes. Visit our robot hub to view robots we have previously reviewed.
No. There were such claims when we were investigating the trading robot, but a little fishing found the claims to be spurious.