You’ve probably heard of bitcoin robots if you’ve invested in Bitcoin or any other cryptocurrency. A bitcoin robot is a tool that makes the buying and selling decisions on behalf of the trader and executes trades accordingly. Bitcoin robots apparently have a much higher accuracy than humans, meaning 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 that have stolen people out of their money, taking advantage of the unregulated market. Important Notice – Please Read the Advice Below Bitcoin Robots Investment Advice Always read online testimonials on sites like Trustpilot and make sure the score is good. Pay attention to fake reviews – they should be easy to spot, and those users should have 1-2 reviews. Ensure you have the proper information about the robot’s founder and the dev team. Their website should look legitimate and have all the necessary data about the project. Beware of “too good to be true” claims and extremely high promised success rates. If you decide to invest, start with a smaller investment and try to make a withdrawal after some earnings. The robot is probably not legitimate if the withdrawal process is not going well. Many robots claim to use affiliated regulated brokers. Do your research and make sure those brokers are licensed and regulated in your jurisdiction. Otherwise, your investment will not be protected. Always keep in mind that cryptocurrencies are volatile, and some robots might be scams. Be careful and prepare to take a loss. Best Bitcoin Robots with Positive Reviews 2023 It’s important to be well informed when selecting a robot. In this guide, we have researched every robot listed below just to bring a closer look to you and help you decide which is the perfect one for you and which one you should steer clear from. Read on to find out more about the bitcoin robots with the positive review today. What is a Bitcoin Robot? A Bitcoin robot is an auto-trading software that uses 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 supposedly far more effective than humans because they are able to scan all information available on a particular crypto coin (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 allow the robot to be seconds ahead of the market, which means that you will be able to make bigger profits than everyone else. When you read something like this, you only start thinking of emptying your bank account and investing all you have in trading robots. There lies the rub. Investing is sometimes difficult and, most of the time, risky. It doesn’t mean trading bots will boast a win rate that easily. As we mentioned, some robots work as scams. You must be careful, sharp as a tack, and only invest what you can afford to lose. Advantages and Disadvantages of Bitcoin Robots Understanding the advantages and downfalls of automatic trading is 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 riskier. Advantages Robots are said to be more effective than humans because they can scan all information available on a particular crypto coin and execute trades, all in a matter of seconds. Bitcoin robots are not subject to feelings or emotions – they claim to base their decisions on logic and algorithms. This apparently makes their accuracy higher than those of humans. Some robots claim to have an accuracy of up to 99%, meaning they virtually do not place any losing trades. Bitcoin robot trading is said to be faster than manual trading. Instead of manually analyzing 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 seemingly take care of all of this for you. Easier than manual trading: you must 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 claim to offer 24/7 customer support. We can’t vouch for this because we didn’t test it. Disadvantages Like manual trading, bitcoin robot trading has risks and is not 100% accurate all the time. Robot trading can be complicated for those who are not familiar with them The market is unregulated, and many scams are flying around, meaning that users must be well informed before investing Like other types of trading, the capital loss is a possibility. How to Trade on a Bitcoin Robot Signing up and trading on a bitcoin robot is said to be pretty straightforward. For this tutorial, we will use Bitcoin Code as an example because, generally, the process is similar on most bitcoin robots. Bitcoin Code is a bitcoin trading robot that claims to help ordinary traders make huge returns on their bitcoin investment with an investment of as little as $250. The robot was allegedly founded by Steve McKay, a software engineer with over ten years of experience making trading robots. According to the website, this trading bot relies on sophisticated computer algorithms to analyze tradable data in the crypto markets and make investment decisions. This automated trading tool is said to have a success rate of 99.4%, which is among the highest in the industry (this 99.4% win rate does not look realistic to us at all). Although you will always find positive reviews on some robots, like for the Bitcoin Code, InsideBitcoins advises you always to double-check everything because there is an element of risk in trading tools, meaning that traders should monitor their accounts for at least 20 minutes a day. Keep in mind that we did not test Bitcoin Code personally by making a deposit, so we cannot approve any of the claims Bitcoin Code makes. Tutorial Step 1 1. Visit the Bitcoin Code website Bitcoin Code signup form Most Bitcoin Robots have testimonials and promises on their front page. This is the number one cause of alarm for traders wary of scammers. While it is true that some bitcoin robots exaggerate with all testimonials and promises, it does not necessarily mean that they are a scam. Step 2 2. Signup form (registration only takes 2 minutes) In this age of internet fraud and personal data theft, it is important to ensure that all online registrations are secure. A secure robo-trader should have an SSL-secured website, a proper password policy, and a secured database. The registration process should also correct relevant data and allow users to opt-in or out of unsolicited emails. Most legitimate robo-traders require usernames and email only and do not store sensitive billing information. Another important thing to pay attention to is how easy the registration process is. A good Bitcoin robot should not complicate the registration process with unnecessary verification requirements. Traders should be able to open an account and start trading within a short timeframe, preferably less than three minutes. InsideBitcoins haven't tested the bitcoin robot mentioned above, so we can't say whether the registration process is straightforward. Step 3 3. Demo trading Once registered, you need to get a feel of the trading platform before going live. The best way to do this is through a demo account. Some bitcoin robots will provide a demo trading tool to help you get familiar with the platform before you start live trading. Those with demo accounts are said to provide backtesting data to demonstrate how the robot works in live trading. It is important to note that the results obtained in the demo account do not fully represent what you will get in a live account. InsideBitcoins recommends that all beginner traders start with not more than the minimum investment required and only add capital once they are comfortable with their robo-trader. Step 4 4. Deposit funds Most bitcoin robot providers will require you to deposit a minimum capital of 250 (USD or EUR) to access their trading tools, including the demo trader. Certain robo-traders accept multiple deposit methods, including MasterCard, Visa, Wire Transfer, Ok Pay, Skrill, Neteller, Qiwi, and others. Also, deposits and withdrawals should be processed within 24 hours and not incur any charges. Step 5 5. Live trading After depositing funds or finishing demo trading, you can start live trading. Always invest when you are ready for losses because investing doesn’t constantly bring a profit. If you want to try trading with Bitcoin Code, you can start by visiting the official website and following the abovementioned steps. How Do Best Bitcoin Robots Work? Robo-trading has been around for the last ten years in forex and stock day trading. However, this method seems to have gained popularity in the crypto industry in the last two to three years. Computer algorithmsMarket data analysisTrading signalsArtificial intelligenceMathematical formulas Trading bots claim to involve the application of sophisticated computer algorithms to analyze investment data and make trading decisions. The analysis apparently happens superfast to ensure that trades are placed before the markets adjust to new information. The technology behind a bitcoin robot appears to make it possible for users to see the logic behind their profits or losses. These tools are said to rely on computer algorithms coded using the trading strategies of some crypto traders to scan the bitcoin market data and execute trades based on this data. We didn't find any evidence; therefore, we can't verify the statements. It could be that this tech jargon is used for marketing purposes only. Some trading robots in the forex and stock market can supposedly capture valuable information, such as breaking news, and make corresponding trades. According to some robots, when a trader earns profits, it is possible to tell how they did it since the algorithms can show the analyzed data and the corresponding investment decision. Market data analysis is said to happen super-fast, which makes it possible to make money even on the slightest price movements. We can't assure this is true. Other trading robots seem to depend on forex signals, stock signals, or crypto signals from industry gurus. These tools copy the trading strategies of the identified experts and execute them in the user's account in a method known as social copy trading. Crypto robots are said to apply similar algorithms to analyze cryptocurrency market big data and make investment decisions. Some industry players are based on advanced Artificial Intelligence and Machine Learning technologies. Such robots are likely to make more accurate decisions than their counterparts. Although this sounds incredible, we can't vouch for the truthfulness of what is stated. Algo trading can be identified as a mathematical formula of a predetermined trading strategy. In AI and ML-based algorithms, the mathematical formula keeps improving as it is subjected to more market data. In other words, the more it trades, the more accurate it becomes. We are not 100% sure if this is the case. Trading is not easy and doesn't carry profit each time you decide to invest money, no matter what formulas you use. How Much Can I Expect to Make With a Bitcoin Robot? Most top bitcoin robot software out there promises to help investors make a minimum profit of thousands of dollars per day. However, the returns depend on the invested capital. Bitcoin Millionaire Pro, for instance, promises investors an average profit of $2440 daily. InsideBitcoins cannot guarantee the truthfulness of these claims, although some online reviews say that most traders who have tried them are happy with the outcome. However, no trading tool can guarantee a profit, and a loss is always a possibility. Bitcoin Blueprint is another bitcoin robot claiming to help ordinary people gain profit through crypto-trading. Some of the people in their review section report have made thousands of dollars in less than a week out of an initial investment of $250. Bitcoin Blueprint states that individual profits depend on their invested capital. Although many statements sound 'too good to be true,' you need to pay attention and research deeper because some trading robots will say anything they can to convince users to invest with them and ultimately lose all their money. We recommend that beginners familiarize themselves with any trading robot before investing more than the minimum amount required. Bitcoin bots are not 100% accurate and, therefore, can, at times, lead to losses. What Type of Trades Can I Place with a Bitcoin Robot? Bitcoin and crypto tradingManual or automatic tradingDemo accountsBuy and sell orders BTC robots are said to be fully customized for bitcoin and other crypto trading. As mentioned earlier, these tools come fully equipped for crypto trading but do not support another asset trading. With BTC robots, you can trade either manually or automatically. Manual trading involves the robot doing the market analysis and the trader manually placing trades based on the robot's research. Automated trading, on the other hand, involves the bot conducting market research and placing corresponding trades. Most trading robots offer both manual and automated trading options. The robot appears to do the market analysis in manual trading and recommends investment strategies, but the trader must decide whether to implement them. On the other hand, bitcoin robots say that automated trading involves the robot carrying out investment research and automatically executing trades based on this research. While manual trading requires constant monitoring, automated trading does not. In fact, most automated accounts seem to require less than 20 minutes of daily monitoring. Either way, InsideBitcoins recommends scheduling trading sessions and closing all your trades after these sessions. Remember that bitcoin robots are not without risk, which means that you may find yourself experiencing huge losses if you are not monitoring your account regularly. Some BTC robots claim to come with a demo account to help traders familiarize themselves with their trading platforms before live trading. A demo trading platform is equipped with virtual money and is simulated on real but historical data. While demo trading somehow reflects the potential of the trading robot, it does not give the full picture. This means that the results you will get in live trading will likely differ from those in demo trading. Some of the best bitcoin robots claim they have a broker tasked with executing buy and sell orders on behalf of the trader. These brokers are said to be responsible for facilitating deposits and withdrawals and are the ones to reach out to when in need of clarifications regarding trading. The companies behind the robots claim to operate hand in hand with these brokers to ensure that everything is running smoothly. We can't say brokers come together with trading robots because we didn't test them and are unsure if they are regulated. Are Bitcoin Robots Scam or Legit? Once you decide to trade and start researching trading robots, you will find many of them claiming to be legit. Countless statements and claims where after reading, you will be convinced that they deserve your attention and money. Although they all look tempting, you need to be extra careful since some of them pose as scams. Not all Bitcoin Robots are legit. A good bitcoin robot should be able to beat the markets most of the time and generate considerable returns for the traders. Most crypto traders on the market today promise investors to make thousands of dollars per day with an initial investment of as little as $250. These results may be achievable with some, but not always. Do not subscribe to a bitcoin robot with the mentality that you will get rich quickly. With some robots, the profits may be small initially but will increase as you upgrade your account. InsideBitcoins reviews give you a true picture of what to expect with different bitcoin robots regarding profitability. Bitcoin Robots and Possible Risks Even the best bitcoin robots won’t tell you that there is a risk in trading with these tools. It is there, nonetheless, meaning there is a possibility of losing all your investment. Unlike long-term investments, day trading involves rapidly getting in and out of trading positions, which makes it possible to experience profits and losses. As a rule of thumb, never trade with an amount you cannot afford to lose. Always remember that speculative investments should never take more than 10% of your portfolio. We recommend starting small with bitcoin robots and reinvesting your profits as your account grows. The same case should apply to trading robots. It is important to note that most bitcoin robots promise an accuracy level of 99% and above, which, when loosely translated, means that with their robots, at least 9.9 trades out of 10 are correct. And given that there is no way to confirm this, InsideBitcoins recommends that you do enough due diligence to confirm how often your bitcoin robot delivers these results. The best place to start is by reading our unbiased and comprehensive robot reviews and guides. What is an Auto-Trading Robot? While a bitcoin robot only offers cryptocurrency trading, trading robots offer forex and stock trading. While a bitcoin robot is a trading robot, not everyone is a bitcoin robot. Simply put, trading robots are multi-asset traders, which may or may not include bitcoin. On the other hand, Bitcoin robots are meant for bitcoin trading even though they may offer access to other cryptocurrencies. While trading robots are a bit more complex, bitcoin robots can allegedly be used by almost anyone. In other words, these robots claim you do not need any background in finance or cryptocurrencies to trade with them. But it doesn't mean that's true. We should mention that any good bitcoin robot will come with a user guide to help you set up an account and start trading. Nonetheless, these guides won't help you get rich overnight. For that reason, be careful. 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 with positive reviews, are those that InsideBitcoins has thoroughly reviewed. Those with insufficient ratings may be legitimate, but we have not found enough evidence of this effect, and we think they may be scams. Read our comprehensive trading robots reviews to learn more by clicking on the brand name. Auto-Trading Robots with Positive Reviews We found the following auto-trading robots with positive reviews online we think are worth mentioning. With these robots, you can trade forex currency pairs, stocks, and commodities. However, none of these bots is fully tested by many users, and some of them might not be legitimate. BitAI Method Bitcoin Rush Bitcoin Sprint Bit iPlex Codes Quantum Code NFT Profit Bitcoin Millionaire Pro Trade Unity Bitcoin Blueprint Ethereum Code BitVestment Bitsoft360 Bitprime Gold Today Profit Bitcoin Prime Bitcoin Aussie System Bitcoin Thunderbolt Quantum Pro 360 What Are Robot Brokers? Robot brokers are online platforms allowing you to trade with cryptocurrencies, forex, stocks, CFDs, commodities, and indices. They use trading platforms such as MetaTrader4 and WebTrader to support trades. When it comes to robot brokers, the most important thing is to choose the regulated one. We recommend you try eToro since this one is listed among regulated ones. Have in mind that even though some robot brokers are trustworthy, they do not support you in making investment decisions. Auto trading robots are said to connect to online brokers in order to function, and through the robot, you can choose the broker you want to trade with. By doing that, you will have the option to trade in auto-trade mode, but at the same time, you will have access to the vast investment choices offered by robot brokers. However, it is not certain that trading robots are connected to brokers and that brokers will help you trade. Investigate more if you want to make money work for you. Final Thoughts on Robots To conclude, if you're looking to trade cryptocurrencies, stocks, forex, or even cannabis stocks, a robot is probably a good choice. The technology behind them is likely based on algorithms, meaning they will make better choices nine times out of ten than humans. Automated trading robots allegedly have shown that you don't need to be an expert to be able to make a side income. However, when trading with bitcoin robots, or regular auto-trading robots, we strongly recommend you 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. Also bear in mind that each investment, either through a human or a robot, carries a risk. Invest only the money you are prepared to lose, and start with smaller amounts until you get used to the system. Additionally, try withdrawing some money before reinvesting to see how the robot or affiliated broker will handle your withdrawal request. Automated Trading on Exchanges An alternative to using a bot is to use the copy trading feature on eToro - this FCA and CySec regulated cryptocurrency exchange allows you to replicate the trading decisions of a winning, profitable trader of your choice or a combination of several. InsideBitcoins recommends diversifying your portfolio by allocating part of your funds to a long-established, safe, and reputable platform such as eToro - never invest 100% of your cryptocurrency into one trading bot or hold it on one website, broker or exchange. Start with a minimum deposit on any platform you use, and make a small withdrawal as a test. Coptrading on eToro is similar to using a bot in that you can grow your investment without having to monitor it, trade yourself or make any decisions - all buy, sell, take profit, and stoploss orders are automated. eToro - Automated Copytrading Our Rating Review Traders' Performance, choose from 1 - 100 to Copytrade No Management Fees Free Demo Account Social Media & Forum Community - Trusted by Millions of Users Start Copytrading Copy trading does not amount to investment advice. The value of your investments may go up or down. Your capital is at risk. 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. Remember that all investment opportunities carry a certain risk. This especially applies to cryptocurrencies, which are still relatively young in the financial markets.
