Bitcoin Compass Review – Scam or Legit? Testing the Bot ByPatrick WebberPRO INVESTOR Updated: 06 July 2023 If you are a seasoned crypto trader, there is a high chance that you have heard about bitcoin robots. Perhaps the most interesting thing about bitcoin trading robots like Bitcoin Era is the high returns they claim to give investors. One of the more popular robots is Bitcoin Compass, a bot that claims to generate thousands of dollars per day in profit for investors with an initial investment of $250 only. But is this robot legit? Read on for our full review. On this Page:Contents [show] What is Bitcoin Compass? Bitcoin Compass is a trading robot that claims to help traders maximize their profits in rising and falling bitcoin prices. This robo-trader claims that with it, bitcoin investors do not have to go through the hustle of market analysis and investment decision making. The robot does all the work from analyzing market data to making decisions and opening and closing trades. Once a trading account is set, all that the trader is required to do is to monitor their trading account for less than 20 minutes a day. Bitcoin Compass is based on computer algorithms simulating the trading strategies of the world best bitcoin traders. The founders of this tool are ex-Wall Street traders and crypto enthusiast. Their background in speculative trading is what allegedly has enabled them to master the crypto markets and make a tool with a claimed accuracy level of 99.9%. On many review sites, traders who use Bitcoin Compass report great returns. The minimum deposit required to start trading with this robo-trader is $250, which is within what most people can afford. Visit Bitcoin Compass Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection. Is it safe? Bitcoin Compass appears to be legitimate from the many positive individual clients’ online reviews. The fact that this robo-trader takes a commission on the profits earned by traders’ means that it is bound to always act on the best interest of the client. Beginner traders should read user guides offered by the platform and start with a demo first. The initial investment should not be more than $250. Traders should invest more once they are confident in their ability to use the platform. Who founded Bitcoin Compass? Bitcoin Compass was apparently founded by a group of Wall Street veterans with varying backgrounds. Some of the founders have extensive experience in sophisticated trading strategies such as high-frequency trading. Bitcoin Compass claims to adopt the trading strategies used by day traders to make huge returns in traditional markets. Perhaps one of the biggest drives towards Bitcoin Compass innovative technologies achievement is the founders love for cryptocurrencies and blockchain, the underlying technology. Bitcoin Compass can also be used to trade other cryptocurrencies including Bitcoin Cash, Ripple, Ethereum, Litecoin, and Stellar. How does the Bitcoin Compass system work? Bitcoin Compass is a robot-trader that analyzes bitcoin market big data for trading insights and automatically places corresponding trades. Simply put, it is a tool that makes investment decisions by analyzing the many factors that drive bitcoin prices. Traditionally, trading algorithms are used by day traders in stock and forex markets to predict assets price movements and bet on them. The Bitcoin Compass system claims that traders can predict the price movement of bitcoin with a 99.4% accuracy. The Bitcoin Compass app allows both automatic and manual trading. With the high accuracy level, the app promises returns of up to $1300 per day with an initial investment of $250. According to the bot, traders with a bigger deposit are likely to make a bigger return. This robo-trader does not require technical expertise to use meaning that both beginner and experienced traders can use it without limitations. In fact, with this trading algo, traders do not need to have any knowledge of cryptocurrencies to trade. To have a look through all of the robots we consider to be reliable, visit our bitcoin robot page. How to trade on Bitcoin Compass Step 1 : open your account The first step involves filling out personal details including email and full names on a form provided on the Bitcoin Compass website first page. Once a client has filled the form, they are taken to the next page where they are required to create a password. InsideBitcoins takes user security seriously and has therefore carried out some tests to determine if this crypto-trader has good cybersecurity practices. Here is the outcome… First, Bitcoin Compass website is Secure Socket Layer (SSL) secured, which means that all traffic between the client and the server is encrypted. Websites that are SSL secured has https URL instead of HTTP and a padlock symbol at the beginning of the URL. Users are required to create strong passwords of between 8 -12 characters, including a mix of symbols, letters, and numbers. Open your account here. Step 2: Deposit funds After registration, Bitcoin Compass will ask you to fund your account to start trading. The minimum amount required is $250. This crypto-trader promises a return of thousands of dollars per day from an investment of as little as the minimum amount required. Bitcoin Compass claims that it enables both manual and automatic trading and therefore returns may differ with manual trading strategies. Bitcoin Compass accepts deposits and withdrawals from multiple sources to include Visa, MasterCard, WireTransfer, Skrill, Trustly, GiroPay, iDeal, Klarna, Neteller, Sepa, Rapid Transfer, and others. Step 3: Let the robot place trades on your behalf Demo trading Bitcoin Compass does not offer any demo trading. However, their platforms are easy to use even for beginner traders and may therefore not need any demo practice. Also, there are useful guides on Bitcoin Compass website to help users navigate their platforms. For beginner traders, automated trading is the best choice since it requires little hands-on experience. In fact, the Bitcoin Compass site claims that clients with automated trading accounts require less than 20 minutes of account monitoring per day and still have a high earning potential. Live Trading This trading robot requires a minimum of $250 for traders to access live trading. Clients can choose to trade manually or set the Bitcoin Compass system to trade automatically. Automatic trading is best suited for beginner traders since it does not require any hands-on experience in bitcoin trading. What makes this crypto trading software special? Unlike most crypto traders in the market today, Bitcoin Compass claims to be developed by people who have experience in sophisticated trading and are crypto trading gurus. This, according to them, is what guarantees traders such a high accuracy level. Some of them are: High claimed accuracy level (99.4%) Ease of use. Great customer service. A variety of deposit and withdrawal methods Quick withdrawals. Has Bitcoin Compass been Endorsed by Celebrities? There are rumors that Bitcoin Compass has been endorsed by several celebrities. However, the majority of these claims are lies being told by unscrupulous affiliates. Bitcoin Compass does not support this form of marketing and has promised to take action against these affiliates. Elon MuskMartin LewisPeter JonesSteve BaxterJanine Allis Some affiliates claim that Elon Musk has endorsed Bitcoin Compass. However, our investigation reveals that there is no Elon Musk Bitcoin Compass Endorsement. We have contacted Bitcoin Compass, and they have denied any involvement with the people making these claims. Our investigation shows that unscrupulous affiliates are making these claims. Bitcoin Compass has promised to take action on them. Despite these rumors around the app, we find Bitcoin Compass legit. According to them, users can make an average of $1500 per day through this robot. There are also some reviews claiming that the British Billionaire, Martin Lewis has endorsed Bitcoin Compass. Our investigation reveals that Martin Lewis Bitcoin Compass endorsement is a lie. We contacted Bitcoin Compass about this matter, and they denied any involvement with these claims. InsideBitcoins investigation shows that unscrupulous affiliates are spreading these lies in a bid to get new signups. It is essential to always carry out enough research before settling on any product. Peter Jones Bitcoin Compass endorsement is a lie from lazy affiliates who do not want to provide comprehensive reviews. Bitcoin Compass has recently released a statement warning its affiliates against using misleading marketing techniques. Any affiliate found guilty of deceptive marketing will be banned from marketing Bitcoin Compass. Our investigation shows that the affiliates peddling the Peter Jones Bitcoin Compass endorsement lies are desperate for signups given the cutthroat competition in marketing this robot. There are also claims that Steve Baxter has endorsed Bitcoin Compass. However, our investigation shows that this is not true. These are lies from desperate affiliates to get new signups. According to the affiliates spreading the Steve Baxter Bitcoin Compass endorsement lies, the product was presented in the Shark Tank. Steve Barker is one of the angel investors in Shark Tank struck a deal with the platform. Bitcoin Compass has confirmed that these are lies and vowed to take action on any of its affiliates found to be spreading lies. Some affiliates also claim that Janine Allis has recommended Bitcoin Compass. However, our investigation shows that there is no Janine Allis Bitcoin Compass recommendation. The unscrupulous affiliates spreading these lies claim that the product was presented on Shark Tank. However, there is no such episode, and therefore these are blatant lies. Bitcoin Compass is a legit robot and has nothing to do with these lies. It has recently released a statement warning to punish any affiliate found to be spreading lies. Bitcoin Compass Review: The Verdict! Bitcoin Compass appears to be a legitimate trading robot given the many positive individual clients reviews and also the fact that it appears to be based on well-established technologies. Bitcoin Compass website and tools appear to be highly secure meaning that users do not have to worry about their personal data. However, there are reports that Bitcoin Compass is a scam because they do not always deliver the returns promised on their website. InsideBitcoins could not verify the legitimacy of the claims these claims and have found no evidence that points to their software being a scam. Their platform is free to use and only takes a commission of the profits generated by traders. This, according to many online websites, is enough proof that the motive behind their platforms is helping clients make profits. InsideBitcoins has established that most of these fake promises come from affiliate sites trying to make a sale. The fact that Bitcoin Compass system is available for free and traders have an opportunity to try demo-trading first says a lot about this app. The app owners allegedly make money from the profits made by traders using the platform which means that they reportedly make nothing if the trader does not make money. The claims may also come from users not receiving the profits that Bitcoin Compass claims they will receive. While you may not make the $5,073 a day they claim you will make, this robot and many users claim that this bot generates real profits. When trading with bitcoin robots like Bitcoin Compass and Bitcoin Trader, we recommend you take caution as there is a risk of losing your capital. We recommend you only invest with the minimum amount to start. Visit Bitcoin Compass Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection. Automated Trading on Exchanges A safe 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 into 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. 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 30 Million 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. Read more: Orion Code: Scam or Legit Trading Robot? BitIQ Trading Robot Review FAQs Is Bitcoin Compass Legit? InsideBitcoins investigation shows that Bitcoin Compass appears legit. This trading bot operates in full transparency and we have verified that their trading platform is genuine does trade on your behalf. How much should I deposit with Bitcoin Compass? Bitcoin Compass requires a minimum deposit of $250. We recommend that you start with this amount and only add capital when comfortable with their web-trader. How much can I make with Bitcoin Compass? Bitcoin Compass claims that you can make thousands of dollars per day with an initial investment of $250 only and that the more you invest, the more you will make. Can I withdraw my money from Bitcoin Compass? Bitcoin Compass allows you to withdraw your money whenever you want. This platform does not charge any withdrawal fees.
