Bitcoin Bank is a trading robot that trades the crypto markets for you. This expert Bitcoin Bank review takes you through everything you need to know about the robot and whether the app is legit or a scam.
This review of Bitcoin Bank goes into the details of this Bitcoin trading robot to find out how it works and answer every question you might have. Our experts have tested the robot to explore its key features and whether it represents value for money.
We are aware of numerous websites which use false celebrity endorsements to send customers to unregulated brokers or call centres. Our website will only send customers to partners who have provided us with the required regulatory assurances. This is a marketing offer and our regulated partners will indicate what services they have available upon registration.
Based on our research, Bitcoin Bank appears to be a genuine trading robot
We test every crypto robot extensively and only recommend software that looks legitimate. The results of our investigation suggest that Bitcoin Bank seems to be a genuine trading bot.
To sign up for a free trial and test the software for yourself, follow the link below. Once you’ve done so, an account manager will call to explain how to create an account and set up the bot.
Pros & Cons
Pros:
Multiple options for payment and withdrawals
Availability of demo account
Partnered with regulated brokers
Various instruments available in forex markets
Cons:
Lack of details on the team behind the robot
Unverified claims about profits made by users
Very similar to other websites with different domains
What is Bitcoin Bank?
Bitcoin Bank is an automatic trading robot that allows users to place trades in cryptocurrency and forex markets without the need for human intervention. The robot uses software that combines technology and statistical algorithms to predict the outcome of a crypto or forex trade, and opens positions with brokers accordingly.
Using artificial intelligence, Bitcoin Bank analyses historical data and market trends to find the optimum prices for opening or closing a trade and then executes the trade automatically without human monitoring.
Bitcoin Bank also facilitates manual trading in crypto and forex trades to seasoned traders. With this trading robot, a user can define their trading parameters to open or close a trade. The auto trading bot monitors the market 24/7 and will automatically execute a trade as soon as the conditions specified are met.
Bitcoin Bank summary
| FEATURE | BITCOIN BANK |
|---|---|
| Supported cryptocurrencies | 25+ including BTC, ETH, AVAX |
| Fees | No fees |
| Success rate | 99.4% |
| Minimum deposit | $250 |
| Mobile app? | Yes |
| Withdrawal speed | 24 hours |
| Demo account? | Yes |
| Leverage available | Yes |
| Customer support | Yes, 24/7 for account holders |
| Verification required | Yes |
| Regulations | KYC |
About the Bitcoin Bank platform
How does Bitcoin Bank work?
Bitcoin Bank partners with regulated brokers who offer cryptocurrency and forex trading services. The Bitcoin Bank trading software analyses market conditions and other data to calculate the outcomes of a trade. Upon calculating the trading signal, it sends the data to a broker through an API. The broker then executes the trade on behalf of the trader.
What assets and products can be traded on Bitcoin Bank?
The Bitcoin Bank robot offers a handful of top rated cryptocurrencies and currency pairs for trading. The cryptocurrencies available to trade include:
- Bitcoin (BTC)
- Ethereum (ETH)
- Litecoin (LTC)
- Ripple (XRP)
- Bitcoin Cash (BCH)
- Monero (XMR)
- Dash (DASH)
Bitcoin Bank also offers trading in forex markets. You can trade all the leading major currency pairs, including:
- USD/EUR
- USD/GBP
- USD/JPY
- USD/CAD
- USD/AUD
- USD/NZD
How much does Bitcoin Bank cost to use?
It’s free to sign up with the Bitcoin Bank app. You do, however, have to make a minimum deposit of $250 in order to access the trading platform.
The other charge comes in the form of trading fees. While Bitcoin bank is free to use, it places the trades through crypto brokers, which may charge a fee for each trade. You may have to pay a commission of 1-2% per trade.
What are the payment methods accepted by Bitcoin Bank?
The Bitcoin Bank trading robot supports multiple payment options for deposits and withdrawals. These include eWallets, credit/debit cards like Visa, American Express, MasterCard, and Discover. The full list of payment methods is:
- Bank transfer
- Visa and Mastercard
- American Express
- PayPal
- Neteller
- Skrill
- Discover
Is there a Bitcoin Bank app for both mobile and laptop-computers?
Yes, Bitcoin Bank can be accessed through browsers on desktop as well as laptop. You can use the Bitcoin Bank mobile app to access the trading platform on your smartphone and use its services. You can also sign in and trade online, where you are likely to find the full range of services. The full list of platforms you can use Bitcoin Bank on are:
- Phones
- Tablets
- Desktops
Bitcoin Bank key features
Here are some of the Bitcoin Bank features our experts loved and made it stand out from the crowd.
User-friendly interface
Bitcoin Bank is one of the easiest trading robots to get to grips with of any that we have assessed. It makes it extremely easy to find what you’re looking for and set up the robot to suit your exact requirements.
You can sign up and get started in less than half an hour without any hassle, and you can check back in to adjust the settings whenever you like. The adjustments take effect straight away, so you can constantly tinker to create the perfect trading strategy on the fly.
Use multiple trading strategies
Another great feature of Bitcoin Bank is the ability to set up more than one trading strategy. You can set a low risk strategy and a more high risk one, for example, and the robot will go about looking for trades in accordance with both aims.
Speedy withdrawals
When you request a withdrawal from Bitcoin Bank it is executed within 24 hours. This is much faster than other trading robots we have come across, where the withdrawal can be in process for 48 hours or more.
Which brokers can I use with Bitcoin Bank?
Bitcoin Bank has partnered with regulated brokers that offer services of trading in forex and cryptocurrencies. Some of the popular brokers include EuropeFX and UFX. All of the Bitcoin Bank brokers comply with KYC (Know Your Customer) regulations to offer you extra protection.
Can I trade assets with leverage?
Yes. Bitcoin Bank users can access trading with leverage for digital currencies and forex. The leverage offered is 1:1500. In other words, you can trade 1500 times the amount that you deposit in a Bitcoin Bank robot.
We strongly advise that inexperienced traders do not trade with leverage, and would never advise trading with leverage on automated trades you have no control over. If you trade with leverage and the market moves against you, you’ll rack up huge losses very quickly.
Can I open long and short positions with Bitcoin Bank?
Yes. With Bitcoin Bank, a trader can open long and short positions. With this function, a trader can make money even when markets are falling.
If you’re unfamiliar with the terms, check out our position trading course. In trading, a long position basically means that a trader bets that the price of an asset will move up. In contrast, a short position means that a trader bets that the price of an asset will move down.
How do I get paid? What about payouts?
To withdraw money from Bitcoin Bank you need to submit a request on the trading dashboard. The withdrawal will then be processed and executed within 24 hours, although you may be asked to submit relevant documents including proof of identity and proof of residence along with your bank details.
There are no limits on the size or frequency of withdrawals you can make from Bitcoin Bank.
What is Bitcoin Bank’s customer service like?
The Bitcoin Bank customer support can be accessed through a form available on their website prior after registration. After successful registration, you can contact their customer service through live chat, phone number, and email. It is not available before you sign up.
Safety and security
Is Bitcoin Bank safe to use?
Yes, in our experience Bitcoin Bank is safe and secure. This is because it doesn’t handle any money itself, instead all transactions take place through its partner brokers. The brokers are all regulated according to various EU financial regulations, which should give you peace of mind.
Is Bitcoin Bank regulated?
Yes, Bitcoin Bank is regulated by CySec, the Cyprus Securities and Exchange Commission. CySec is well-respected financial regulator, which provides investor protection up to €20,000 per person in case the platform goes bankrupt.
Is my money protected on Bitcoin Bank?
Yes, your money is protected, up to €20,000, against any financial irregularities or bankruptcy on behalf of Bitcoin Bank. Just note that each broker may be regulated by a different regulator and so the rules might be slightly different depending on who you actually deposit money with. Be wary of using any unregulated brokers as these offer no financial protection in case anything goes wrong.
Who owns Bitcoin Bank?
There is little information on the Bitcoin Bank website about the team or its founders. However, it does state that the Bitcoin Bank team is made up of fintech experts and financial market traders. This is quite normal for a trading robot, particularly one involved in cryptocurrency, as anonymity is common among crypto traders and is often a big part of the appeal.
What is the registration and verification process?
In order to access Bitcoin Bank’s services, you are required to register. The process of registration usually involves submitting your name, email, and contact number on the home page of the robot. After verifying the link sent to your email, the process of registration is complete. You are not required to submit identity proof for registration until you wish to withdraw funds.
More on that below as we run you through how to sign up and start trading.
How to start trading with Bitcoin Bank
Step 1. Create an account with Bitcoin Bank
First you need to register with Bitcoin Bank and verify your account. This process normally only takes 15-30 minutes but you will have to complete some verification steps before you can proceed.
Be prepared to provide some identification, such as your passport or driving licence, as well as contact details and personal information in order to register successfully.
Step 2. Make minimum deposit of $250
To begin autotrading, you are required to make a minimum deposit of $250. You will be redirected to one of Bitcoin Bank’s partner brokers to make this deposit. You can do so using Visa or Mastercard debit cards, or a variety of other payment methods. Once the funds are deposited, you can begin auto trading by sliding the sidebar to ‘On’.
Step 3. Set up your Bitcoin Bank trading system
Now you have access to the Bitcoin Bank trading interface, you can tweak the trading robot to suit your needs. Decide how often you want to trade and the maximum and minimum trade sizes you’re willing to accept. You can also set it to only trade specific currencies or cryptocurrencies for you.
Step 4. Adjust risk management settings
Now set the risk tolerance. This is a good way to avoid losing more money than you can afford, and to instruct the robot to only make trades that meet your expectations. You can set it to take more risk – and potentially generate more reward – or less risk and accept potentially smaller profits.
Step 5. Start investing with Bitcoin Bank
If you have switched on autotrading, the Bitcoin Bank robot will go ahead and start to find potential trades for you and execute it from the broker’s platform. Alternatively, you can also opt for manual trading and specify the conditions for opening or closing a trade yourself.
Has Bitcoin Bank been recommended by celebrities or appeared on TV?
Despite many claims being made online about Bitcoin Bank being associated with famous celebrities or television shows, Invezz could find no evidence that any such endorsements have actually been made. All the stories linking the platform with influential public figures lack proof to back up their claims and so must be assumed to be false.
Below are three of the most common claims made about Bitcoin Bank. We have fact checked each one to make sure our users have access to accurate information.
Is it true that Jeff Bezos endorsed Bitcoin Bank?
Amazon founder and CEO Jeff Bezos has never recommended people to use Bitcoin Bank. Jeff Bezos is the richest man in the world, with a net worth of over $150 billion. In the past 20 years, Bezos has led Amazon to be one of the world’s largest companies, acting as a marketplace for almost anything consumers could want to buy and combining this with an unparalleled logistics network.
Fact check: False. There is no truth to reports that Jeff Bezos has spoken favourably of the Bitcoin Bank crypto robot.
Does Jonathan Ross use the Bitcoin Bank website?
No, Jonathan Ross does not use Bitcoin Bank or any other cryptocurrency robot trading platforms. Jonathan Ross is a hugely famous British television and radio presenter; he was the figurehead for Friday Night with Jonathan Ross in the 2000s, and now hosts The Jonathan Ross Show every Saturday evening on ITV.
Fact check: False. Jonathan Ross has never used Bitcoin Bank.
Has Jort Kelder publicly recommended the platform?
There are a few online sources who have reported that Jort Kelder endorsed Bitcoin Bank, but these assertions are all false and Kelder has never spoken about the platform. Jort Kelder is a presenter on the Dutch political television show Buitenhof and former editor of the famous magazine, Quote.
Fact check: False. Despite some stories claiming this online, Jort Kelder has never told people to use the Bitcoin Bank crypto trading bot.
Is there a Bitcoin Bank alternative?
If you’re not convinced by Bitcoin Bank, then there are a few alternatives you can try. Here are our top five crypto trading robots that you might want to look at instead.
- Immediate Edge is a crypto trading bot that offers automated crypto trading as well as offering signals and trade ideas for forex and other financial assets.
- Bitcoin Motion is a Bitcoin trading bot that you can set up to buy and sell the world’s most popular cryptocurrency on your behalf.
- BitIQ uses advanced algorithms to identify winning crypto trades. Set up multiple bots to trade on your behalf on more than 50 of the leading cryptocurrencies.
- Bit Index AI bases its trading ideas on artificial intelligence. The trading bots scour the crypto markets to find trades that may have slipped the notice of human traders and sends an order to your broker on your behalf.
- Oil Profit is a trading robot that’s designed to make oil and commodity trading as easy as crypto trading for the normal person.
Our top robot trading tips for beginners
When investing, knowledge is everything. Even an experienced trader will need to research and analyse market conditions in forex and crypto before actually beginning to trade. When just starting out, avoid trading with leverage – this can incur huge losses and is best left until you know more about what you’re doing. Here are some of the tips that traders can consider before choosing to trade with Bitcoin Bank.
- Learn about trading first. For a newcomer, the aspects of forex and cryptocurrency might look different from the stock market. Therefore, it is always advisable to learn about trading in these markets as well as understand strategic tools to minimise risk levels in trading.
- Understand cryptocurrency and forex space. The key functionalities of cryptocurrency and forex are slightly different both to each other and to other markets. It’s very important to understand the crypto market and how it works in order to trade it successfully.
- Practice with a demo account. Even if you are familiar with crypto or forex trading, practice and get your hands-on demo account. This allows you to familiarise yourself with the robot’s services.
- Start small. Always start small and gradually build your portfolio when you use Bitcoin Bank. The best investment strategies are always those that look to the long term.
- Invest what you can afford to lose. Both forex and crypto markets are volatile and carry a certain degree of risk. Hence, the first and the last rule of trading the crypto markets is to invest what you can afford to lose.
Our final verdict on Bitcoin Bank
Bitcoin Bank is an excellent option to supplement your trading strategy. An automated trading platform can save you a lot of time on research and can identify trading opportunities you would not be able to find on your own.
Experienced traders might also find Bitcoin Bank useful as a platform that can suggest trade ideas that you then execute manually. You can backtest the Bitcoin Bank bot against historical crypto market performance and input your own manual parameters as well. This can help you optimise your trading experience without constantly monitoring the markets.
Overall, it is always best to conduct due diligence before trading in these markets or before trusting your trades to the hands of a robot. As a beginner, you should always take precaution and do not instinctively believe everything that is stated on the robot’s platform. You should conduct your own research and understand trading in both the markets before choosing to trade with Bitcoin Bank.
Methodology: how we scored this Bitcoin Bank review
Our experts signed up and tested the platform to assess its features and rate the features as part of the Bitcoin Bank review. This meant creating an account, making the $250 minimum deposit, and setting up and adjusting the trading robot.
We then collated the ratings from each member of our expert panel to provide a final score for Bitcoin Bank. That is the rating you can see at the top of the page. We also checked other customer experiences of the platform and researched it online in order to verify our rankings.
No platform can influence their rating in any way but we do occasionally partner with some brokers and trading platforms, and we may earn a commission if you sign up using a link on this page.
Original source: https://invezz.com/reviews/bitcoin-bank/
