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Bitcoin Trader review – Scam or Legit Software? The Verdict

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Author: Patrick Webber
Last Updated: 04 August 2020
Rating 4.4/5

Bitcoin Trader is an automatic trading software created by Gary Roberts in 2017 that claims to automatically buy bitcoin and sell it for a profit by following the cryptocurrency market trends and executing automatic trades 0.01 seconds faster than its competitors.

The Bitcoin Trader app eliminates the manual trading process of buying and selling bitcoin on an exchange, inviting beginners to register, make an investment scheme, and use the auto-trade functionality. In this Bitcoin Trader review 2020, we will examine whether the software is a scam or not, and whether it really has been endorsed on popular programs such as Shark Tank and the Dragons Den.

The software is used to trade bitcoin and five other currencies on the crypto market. It claims to be able to generate $1300 minimum daily profit for its investors, all for a minimum trading fee of $250. But is Bitcoin Trader Legit? Find out everything you need to know about this app in our Bitcoin Trader review today.

Bitcoin Trader: Popular Cryptocurrency Trading Robot

Our Rating

  • 88% Claimed win-rate
  • Withdraw your balance at any time
  • No commission or monthly fees
There is no guarantee you will make money with this provider.

On this Page:

    Is Bitcoin Trader Legit?

    Having dealt with the Bitcoin Trader app to clarify its reputation on whether it is a scam or not, we have reviewed its account registration procedure, robot functionality and financial trust to help every intending investor be abreast of this Bitcoin trading system.

    So, is this Bitcoin robot a scam or not? When topics on auto trading robots like Bitcoin trader & Bitcoin Pro are being discussed, it is often unclear whether to trust them when they claim to have great accuracy and that Bitcoin trading on them guarantees great profits.

    According to the reviews we have found online, Bitcoin Trader should not be trusted, but we believe that due to the fact that trading bots are a relatively new Bitcoin invention, reviewers are much harsher when evaluating Bitcoin trading platforms. We tried to detach ourselves from such prejudices and simply tested the crypto platform to tell you what our findings are and what to expect from it. We also played around with several settings, including time frames and trading processes such as Fibonacci to get the best results.

    The Verdict!

    We have tested the trading software and have made the following observations:

    • 1). The software’s trading signals claims to have a possible return of up to 88%.
    • 2). The software is free and the app is very functional. However, risks in auto-trading remain.
    • 3). We recommend for every intending investor to start with an investment of no more than $250 to start.
    • 4). You can try the Bitcoin Trader App via this link and read more on its functionality.

    Visit Bitcoin Trader

    What is Bitcoin Trader?

    Bitcoin Trader is not the only auto trading robot with these functions. We have found Cryptosoft and Bitcoin Code to be equally trustworthy. According to the software, users do not have to do any manual trading or set trading indicators and trades are placed within minutes and with what appears to be a solid accuracy. It reportedly rarely places unprofitable trades, which may be one of the aspects that has made Bitcoin Trader such a popular robot.

    While human traders take hours to do the appropriate research and find out what the most potentially profitable investment is, Bitcoin Trader claims to do the same amount of research in minutes and zero effort is required from you. As you may have heard though, the cryptocurrency market is known to be extremely volatile which means that even though the robot may have done all the work right, sometimes the cryptocurrency market changes in a different direction than the one predicted by the robot and investments could go wrong. Even though the app claims that this is rare, it still is a possibility, so please be aware of it.

    How Does The App Work?

    If you have a lot of questions regarding the Bitcoin Trader app, rest assured because we are here to answer all of them. So, how does the robot actually work? It is pretty simple, and a very popular question. The main thing you should know is that Bitcoin Trader works independently from user inputs. It is not controlled by a person, it is 100% automatised, so once you register, create your Bitcoin account and deposit funds, your part is pretty much done. All that is left for you to do from then onwards is spend a few minutes every day to decide on the trading settings you prefer and then activate the auto-trading mode. What the Bitcoin trading app will do exactly is act as an investor and place the amount of trades you said you wanted to make. The software uses course progressions and statistics to ensure this happens. That basically means that before starting to buy and sell assets, the algorithm of the software is designed to scan the crypto market data for trading indicators.

    If you want to find out how to store Bitcoin and other cryptocurrencies, have a look through our Bitcoin wallets page.

    Opening an Account

    Getting ready to sign up for a trade account? Getting ready to make more money with this working software? Read and follow the instructions below.
    Step 1: Account Registration

    To sign-up, go to the Bitcoin Trader website. If you scroll down you will see the registration form that you will need to fill in to open an account with the robot. The registration process is pretty simple. It only takes three steps to complete and has no service charge. For the first step you will need your account information: full name and email address.

    Once you click on “next”, you will be moving on to the following step which will ask you to type in your password, which cannot be less than 6 characters and has to include both numbers and letters. The last and final stage asks you to choose your country and type in your phone number. After the three steps are completed, click on the “Register Now” button to sign up. On average, registration should not take more than 1-2 minutes.
    Step 2: Deposit

    Having completed the registration process successfully, you’ll log in to your account using the details used in registration. You’ll be required to make a deposit to start a live trading session. The minimum investment required for live trading is $250. As an advice, do not go beyond this amount for a start. So, for those who think $250 is quite affordable, do not be shortsighted about the presence of risk in a trading session.

    The web platform accepts different forms of payment methods for deposit. Deposits can be best made by using a credit card. To make a credit card payment, you’ll be required to fill in the card number, card type (MasterCard, Visa or Maestro), the validity period, and security code. The payment gateway is secured for online transactions using SSL to prevent theft of financial information.
    Step 3: Demo trading feature

    The software offers you the option to trade with the demo trading feature. We always advise users to do that because it gives them the possibility to gain first-hand experience with how it would be like to trade on the platform with real money. Not only does the demo gives you access to all the trading functions and opportunities on offers but it also allows you to place trades with a demo balance. Once you finish that balance and are confident about how the trading platform works, you can place real money into your account and start a trading session on the cryptocurrency markets.
    Step 4: Trading

    Once you’ve finished with deposit page, you will be only one last step away from starting your trading experience. Before you can do that you will be suggested to change the trading settings, which include the amount you want to invest for each trade, the maximum amount per trade every day, the profit you want to make each day and so on. If you wish, you can also decide which currency pairs to trade with, such as XRP/EUR, BTC/EUR, BTC/USD, etc…

    Of course, the more you know about the proceedings, tools and functions of the platform the more likely Bitcoin Trader claims you will be to make profits, so we recommend to start off with small investments and gradually increase them if you wish to scale up your trading activity.

    Note: If you do not want to trade with real money straight away, feel free to try the demo account first. You will be able to try trades and see how the platform  works before trading for real money.

    Key Features

    Payouts

    Bitcoin Trader payout claims to be an average of $1,300 daily. While we cannot guarantee such profits, the user reviews on the site and elsewhere seem promising. However, it is hard for new Bitcoin users to make these kinds of profits at first because they are inexperienced and because they usually invest less money, which we believe is very wise. Users who invest more funds, are the ones that end up reportedly being able to generate greater profits. 

    Verification System

    The auto trading system does not involve any hard work from you in the verification process. After you have provided just a few personal details such as full name and email address, all that is left for you to do is to deposit funds into your account. To do that, you only need to insert your payment options. If it is a credit card you will need card number, expiration date and CVC. No ID scan or bank account statements are needed.

    Withdrawal and Deposits

    Withdrawing and depositing funds on Bitcoin Trader is very easy. The withdrawal process is usually processed within a few hours while other robots normally take days and depositing funds is very easy. All you have to do is choose one of the payment methods available, click on it, insert your details, decide on the amount you want to deposit and you are done.

    Cost/Fees

    Bitcoin Trader does not hide any fees from you like certain other robots do. There are no broker fees, no commissions and registration is completely free of charge.

    User Testimonials

    A few users have released statements about Bitcoin Trader which are available on the Bitcoin Trader websites. These users have claimed that the software allowed them to supposedly earn thousands in Bitcoin profit, with some even claiming to have been able to make a whopping $100,000 in under two months and to be living the life of their dreams. It certainly would seem fantastic that some people could turn their lives around thanks to the sophisticated technology of this software.

    Customer Service

    Feel free to contact their customer support team at any time via email, through the live chat or via phone call. They will most likely answer and help with any concern you may have, even though we hope you will not have to contact their customer support team.

    Brokers

    Funds on this robot, like on many others, are channelled through online stockbrokers. This means whenever you are investing in auto mode, your investments are automatically placed on digital assets through an online broker supporting such investments.

    Bitcoin Trader Compared

    Bitcoin Trader Other bitcoin robots

    ✅Registering on Bitcoin Trader takes under one minute. You are only asked to type a few personal details. ❌ For some robots you are forced to go through lengthy questionnaires to be able to register on them.
    ✅Making deposits on Bitcoin Trader is very easy. You are offered a good variety of payment methods, you choose one, insert your payment details and it is done. ❌ Before you can make a deposit, some robots require bank statements and ask questions about your finances, which is a very time-consuming process to go through.
    ✅Bitcoin Trader allows you to adjust the trading settings to your preferences. ❌ Some robots do not offer this possibility and the trading is completely automatic. You have no chance to change any setting.
    ✅Bitcoin Trader has many positive user reviews online, which demonstrates the accuracy of the software. ❌Many robots have very harsh user reviews which sometimes make us question their reliability.
    ✅Withdrawals are usually processed in less than 24 hours. ❌ Other robots can even take 10 days to process a single withdrawal.

    Like Bitcoin Loophole, Bitcoin Trader appears to be one of the most reliable cryptocurrency trading platforms there are. There are several aspects of this software that convinced us that trading with it could be a good idea. Here are a few:

    • Bitcoin Trader is user friendly. To be able to use it you will not need any experience, nor will you have to be a finance expert, programmer or even understand the crypto market. All you need is get familiar with the auto trading platform, click on “auto-trade” and hopefully wait for your balance to increase.
    • Bitcoin Trader offers great customer support.  You can contact them at any time. The website claims that staff will be available 24 hours a day. In our test we tried to contact staff during day-time and they responded within minutes in a satisfying, kind and helpful way. They will certainly be able to help you. The only thing we are not sure about is whether they would actually reply to messages during night time given that we did not try doing it while testing the robot.
    • Demo account is available. This trading robot offers the possibility to try the trading feature in demo mode before requiring you to make a deposit. This feature is not to be taken for granted because believe it or not, only a few robots offer trading features like demo accounts. They are of great help, especially for novices or users that are new to the platform. Trading in demo mode allows newcomers to get comfortable with the functions, tools, live trading opportunities and all the other resources available on the platform. Once you feel ready to trade for real, you can simply deposit money into your trading account and start trading.
    • Faster trades than human traders. As we mentioned before, algo Trading is based on, allows users to spend less than half an hour every day on the platform. They are only required to have a look and, if needed, change the trade settings and activate the auto mode. Cryptocurrency market prices and financial news topics will be analysed within seconds and your trade will be place accordingly in under 10 seconds. Human traders usually take hours to be able to do all of this.

    Making Money With Bitcoin Trader

    Based on other reviews it seems possible make money with the Bitcoin Trader app. The platform presents itself as profitable, even though like for all robots of this kind, there is always a risk of losing capital when trading. That is why it is good to keep a few things in mind whenever you trade on robots Bitcoin Trader & Bitcoin Pro. A few of these things are:

    1. Start small. The minimum amount you can deposit on Bitcoin Trader in order to start trading is $250. That is a reasonable amount to start trading with if you are new to the crypto market. It could allow you to be able to make profits even though perhaps not as much as the platform promises. At the same time, even if you were to lose it, $250 less are unlikely to affect your financial situation. So, please start trading with small amounts. If you see that you are making profits you can start increasing your investment amounts.
    2. Withdraw your profits. If you do make profits, please make a withdrawal request of a significant percentage of the profit and keep it in your pockets. You should never reinvest to much money you make because you risk losing it.
    3. Follow the expert’s advice. If you have a look online, you will be able to find some great videos explaining what are the best strategies to follow when live trading with robots like Bitcoin Trader and Crypto Revolt. Please check them out before starting to trade so you will have some background knowledge to help you through the experience.
    4. Only invest what you can afford to lose. Last but not least important, never invest more than your disposable income! We would not want you to lose all of your money. Even though Bitcoin Trader seems to be a profitable platform, you might get unlucky and lose what you invest, so stop loss and make sure you only invest what you can afford.

    Has It been On TV?

    Even though there may be rumours linking Bitcoin Trader to TV shows, they are false and most likely a product of fake news staff. Bitcoin Trader was never advertised on TV or endorsed by celebrities like Richard Branson.

    Dragon's DenShark Tank

    When typing Bitcoin Trader on Google, a link with popular TV show Dragon's Den popped up at the top. This is so because there are suggestions that there is a Bitcoin Trader Dragons Den collaboration. These suggestions came up when ads made rounds on the internet. However, official sources say otherwise. Network 10 occasionally warns that there is no collaboration between the software and the TV show cast as they are all “false and misleading”. Naomi Simson wrote on her social media page urging anyone who sees the ads to report them.

    Similar findings were reached when investigating Bitcoin Trader's link to Shark Tank. Despite the rumours, we have found no connection between the robot and the TV show. If you do find some information stating the opposite, it is most likely fake and should not be trusted.

    Celebrity Endorsements?

    There seems to be a lot of rumour involving crypto trading robots and celebrities, with robots such as Bitcoin Lifestyle using celebs as a marketing strategy. These rumours are usually spread around the internet to spread around the scam crypto trading platforms. But have any celebrities been affiliated with Bitcoin Revolution?

    Peter JonesElon MuskGordon Ramsay

    In early 2018, ads suggesting an endorsement of Bitcoin Trader from Dragons Den’s investor, Peter Jones were circulating on Facebook. The ads read “Bitcoin Trader: Peter Jones buys 20% shares” and detailed how Peter was impressed in the authenticity of the software and bought 20% shares in the growing company. However, Mr. Jones replied via his Twitter handle saying the Bitcoin Trader Peter Jones claim is completely false and a scam. His legal team is currently working on the matter.

    “Bitcoin Trader Elon Musk” is the most popular search related to the software on Google. Ads sponsored by its developers claimed that Elon Musk signed an agreement with the company with the multibillionaire businessman having a keen interest in the technology and is stepping down at Tesla (learn more about Tesla stocks here) to continue with automated Bitcoin system saying it is the future. These ads were clearly spread across Google and Facebook. However, with rising concerns for the business community, Tesla released official press release content dissociating itself from the acclaimed agreement saying such doesn’t exist and anyone who trades with the software does so at his/her own risk.

    There is a likelihood that you have come across reviews claiming that Ramsay has endorsed Bitcoin Trader. InsideBitcoins investigation reveals that these are lies. We have contacted Bitcoin Trader in this regard, and they have denied any association. Our research shows that these are rumors from a few unscrupulous affiliates. Bitcoin Trader does not support deceptive marketing and has vowed to take action against these affiliates. It is essential to always carry out enough due diligence before signing up with a robot. A celebrity endorsement is not enough proof of legitimacy. It is possible for a scam product to get approval from a celebrity. For instance, in 2017, some celebrities including Floyd Mayweather unknowingly endorsed ICOs that turned out to be a scam. InsideBitcoins conducts rigorous tests to determine legit live trading robots. We can confirm that Bitcoin Trader appears to be legit and that many users have reported that they were able to make considerable profits through it. Traders have supposedly reported an average of $1500 in profits using this robot.

    Bitcoin Trader Mobile app?

    Upon a search of Bitcoin Trader on Google Play and App Store, the two platforms on which you can buy mobile apps for Iphones and Androids, we did not find an app supporting the website. This however, is not a downside of the robot because its trading platform runs on browser, meaning that users can access it from their mobile phones as long as they have an Internet connection.

    Bitcoin Trader alternative for US customers

    Please note that if you are a U.S. customer, you may not be able to access Bitcoin Trader. We recommend the broker eToro which now accepts U.S customers.

    Visit etoro

    eToro USA LLC; Virtual currencies are highly volatile. Your capital is at risk.

    If auto trading platforms are not your thing, there are other legitimate options that you can explore when it comes to trading bitcoin.

    One of these is trading bitcoin through a CFD broker. A contract for difference (CFD) enables you to speculate on the rising or falling prices of Bitcoin and make much money from profitable trades. The biggest advantage of trading bitcoins through CFDs rather than auto trading systems is that you can use leverage, which allows you to use your current cash and trade on margin. With CFD leverage you only need a small amount of capital to control a much larger position.

    The second advantage of trading bitcoin this way is that there are a multitude of bitcoin trading platforms that are regulated by financial authorities. Financial authorities make sure that your funds are protected, which is definitely something to consider when trading bitcoin. One of the best trading platforms for Bitcoin in the UK and the US is eToro, which allows you to trade Bitcoin as well as a large number of currencies on the crypto market.

    Being a social trading platform, eToro possesses a copy-trading platform whereby users can replicate the trades of other expert bitcoin traders. In other words, the trades of a successful trader are copied and executed in your trading account with just 1 click. This makes it an excellent option for traders looking to trade Bitcoin for the first time. You can read more about this award-winning broker in our full eToro review. Alternatively, you can click the button in the table below to start trading bitcoin on this US friendly platform.

    Final Verdict!

    After careful investigation, we can conclude that Bitcoin Trader is free to use and fully functioning app. Our analysis reveals that some users appear to have earned between $200 and $1,000 per week while trading with this robot. However, we would recommend any trader to start with a small investment of just $250 in order to get familiar with the software before investing further. Another platform that we would recommend for those looking to trade Bitcoin through a regulated broker is eToro. Their platform makes it super easy for any beginner to start trading bitcoin within just 5 minutes.

    Bitcoin Trader: Popular Cryptocurrency Trading Robot

    Our Rating

    • 88% Claimed win-rate
    • Withdraw your balance at any time
    • No commission or monthly fees
    There is no guarantee you will make money with this provider.
    Remember that all investment opportunities carry a certain risk. This especially applies to cryptocurrencies, which are still relatively young in the crypto market.

    FAQs

    Is Bitcoin Trader a Scam?

    Bitcoin Trader is a trading system, also known as Bitcoin Robot, that was created by Gary Roberts to help investors get started in trading with Bitcoin. There are rumours and claims online about Bitcoin Trader being a scam robot, but nothing has been confirmed by anyone.

    Is there a minimum deposit required to use Bitcoin Trader?

    Bitcoin Trader is a software that was made to be used for free by Gary Roberts. There is a cost, however, to operate with any of the brokers integrated on the platform. The amount you invest is what you will have to start spending on live trades. The minimum deposit required by the brokers is of £/$ 250.

    Is Bitcoin Trader Endorsed by Celebrities?

    There are rumours about celebrities such as Peter Jones and Ed Sheeran endorsing Bitcoin Trader, or making millions with Bitcoin. This, however, has not been confirmed and can't be considered as a true fact. You can check out in our dedicated review the other celebrities that have been said to endorse Bitcoin Trader.

    Is there a Bitcoin Trader App?

    There isn't a specific Bitcoin Trader app for mobile, but you can access your Bitcoin Trader account via the mobile browser. Bitcoin Trader is compatible with the mobile version of the browser and you can still use it on your mobile that way.

    Can You Make Money with Bitcoin Trader?

    There are no doubts about people making money by trading Bitcoin. The automated trading apps like Bitcoin Trader are simply tools made to help their users perform better in the day-to-day trading with Bitcoin. What the Bitcoin Trader users need to keep in mind is that there are several risks involved when trading with a complex asset like Bitcoin. One thing to bear in mind though is that the higher the risk, the higher the reward.

    Remember, all trading carries risk. Past performance is no guarantee of future results.
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    A cryptocurrency and trading writer and editor, I specialise in algorithmic trading. I’ve written about every type of automated trading tools - from cryptocurrency robots, binary option robots, down to robo advisors. My goal is to write honest reviews about automated trading tools in order to help users understand which software are trustworthy and which ones they should stay away from. I am constantly analysing and scrutinising the up and coming trading apps so if you are seeking advice or if you would like me to write a robot review in particular don't hesitate to get in touch – I’m happy to help!