Bitcoin Bank reportedly helps users earn money online speculating on bitcoin volatility. It is an auto trading robot that is completely beginner-friendly. Moreover, it has great reviews on social media with most users alleging great performance.
But is Bitcoin Bank legit and profitable? As usual, we have carried out in-depth background checks on this robot and it seems legit.
However, there are several things that you need to know before getting started with this robot. We will discuss them in detail in this Bitcoin Bank review.
Is Bitcoin Bank Legit?
Bitcoin Bank has been around for over 3 years now and continues to gain popularity among users. Consequently, it is highly likely to be trustworthy.
We look at factors such as reputation, transparency, performance, ease of use, customer service, and safety when determining the legitimacy of a robot. Here are our findings on Bitcoin Bank.
What is Bitcoin Bank?
Bitcoin Bank seems popular with both professional traders and people looking for passive ways to invest online.
It has gone viral in recent days with passive income investors alleging great profitability. Bitcoin Bank currently ranks number 2 on Google Trends in bitcoin-related keywords. But what is it and how does it work?
According to Investopedia, a trading robot is a computer program based on a set of trading signals that help determine when to buy or sell an asset at a given point in time. Bitcoin Bank is a trading robot that exclusively trades BTC.
Bitcoin Bank doesn’t buy BTC directly but trades through a popular financial derivative well known as a Contract for Difference (CFD). With a CFD, you bet on the price swings of an asset without having to own it.
This means that you won’t go through the tedious BTC buying process to trade with Bitcoin Bank. You also do not need to invest in a crypto wallet and risk your crypto holdings being stolen by hackers.
As we will see below, CFDs trading involve leverage and hence traders can take bigger positions than their invested capital. Leverage is a double-edged sword that boosts performance but can also balloon losses. Bitcoin Bank uses tools such as Take Profit and Stop Loss to minimize the risk.
How does Bitcoin Bank work?
We will use some trading lingo when explaining how this robot works but this shouldn’t scare you away from this robot.
Bitcoin Bank is a beginner-friendly robot that comes with instructions written in layman’s language to help you navigate through. You need to go through the video tutorials and PDF guide before clicking the live button.
Failure to do so may lead to mistakes in live trading. Remember that even the slightest mistake can translate to devastating losses when trading with a margin trading robot.
Bitcoin Bank connects to select brokers to facilitate orders. The robot relays signals to these brokers for execution. It also relies on them to handle deposits and withdrawals. It makes sense that all deposits go to the underlying broker since they are the one to take positions in the market.
Good robot brokers must adhere to strict regulatory requirements among them deposit segregation. The brokers must also belong to a deposit protection scheme to assure users that they will get a refund in the event that the broker stops operations.
Bitcoin Bank partner brokers seem highly reputable and adequately regulated. They are FCA and ASIC compliant and have measures in place to protect users’ data.
As mentioned earlier, one of the roles of these brokers is the provision of leverage. Leverage refers to a loan offered by the broker to help users take larger positions. Bitcoin Bank partner brokers offer a leverage of up to 5000:1 and hence users can trade positions worth up to 5000 times their invested capital.
It’s through the high leverage that Bitcoin Bank reports the supposed returns. But leverage can also counterproductive in unfavourable market conditions. It is advisable to only invest what you can afford to lose.
Getting started with Bitcoin Bank
Is Bitcoin Bank legit? Final words!
We conclude that Bitcoin Bank is likely to be legit. This robot has great reviews from users and claims to use some of the world best trading technologies. You can start your trading journey with Bitcoin Bank by clicking the link in the table below.
Is Bitcoin Bank legit?
From the great reviews on TrustPilot, and the fact that it associates with regulated brokers, we can conclude that Bitcoin Bank seems legit.
How much should I invest with Bitcoin Bank?
As mentioned earlier, you need just 250 USD to trade with Bitcoin Bank. You can deposit more but we suggest you start small.
Is Bitcoin Bank Profitable?
Bitcoin Bank can supposedly earn up to 400% in daily returns. The bot claims that a deposit of just 250 USD can make up to $1k daily. However, remember that all trading carries risk and we cannot guarantee or prove any profits with this robot.
How much does Bitcoin Bank cost?
Bitcoin Bank is a license-free robot. This is unlike most robots in its category. You only need to pay a 2% maintenance fee on the earnings you generate through the robot.