New trading platforms that make use of artificial intelligence (AI) are making much noise lately. They are becoming more and more useful tools for both expert investors and newbies who are taking their first steps in the market. This BitGPT review will pay attention to one of the latest such crypto analysis programs that popped up in the market and occupied the attention of many.
In this article, we will analyze BitGPT (also known as BitGPT Ai or the BitGPT app) in depth to give you all the information you need. We will cover features, prices, registering process and give our final opinion.
BitGPT Summary
The BitGPT app website provides the following summary table of its main characteristics:
| Platform Type | Crypto trading platform |
| Assets | Cryptocurrencies |
| Minimum deposit | $250 |
| Demo account | Yes |
| Customer service | 24/7 |
| Accuracy rate | 98.4% (unverified) |
| Mobile App | No |
| Account opening fee | No |
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
What is the BitGPT Platform?
BitGPT is a crypto trading bot that claims to rely on artificial intelligence when making decisions for traders, naming itself after OpenAI’s tool ChatGPT. This trading platform allegedly aims to catch profitable opportunities and make successful changes in the crypto industry. The tool has the ability to buy and sell cryptocurrencies for maximum profit.
Of course, BitGPT is not the only trading platform available on the market. There are Bitsoft360, Immediate Connect, the similarly named CoinGPT and many more. The main problem here is to decide which system to choose. Among many options, the question is, “Which crypto trading platform is reliable?”
Using trading robots is becoming fashionable due to the large number of advantages they offer. You will be able to invest in the crypto market with hardly any knowledge and without spending a lot of time learning. It’s for the last reason that expert investors choose these platforms to invest because they allow them to obtain benefits passively.
InsideBitcoins in this BitGPT review doesn’t encourage you to over-invest on the BitGPT platform. We just advise you to be careful when investing. If you decide BitGPT is worth your trust, go for it.
But before you make a final decision, let’s see some of BitGPT’s features and other details worth knowing.
BitGPT Features
In this section, we will focus on analyzing some of the most notable features of the BitGPT app.
Easily Operated Platform
Some algorithmic trading platforms are complex to use, and this can be a limitation for many users. On the other hand, there are platforms that claim to be uncomplicated.
BitGPT developers assure users they tried to solve the complexity problem by creating the BitGPT. They say this platform is intuitive, and users can familiarize themselves with it and use it to perfection.
Demo Account
Although the platform is allegedly easy to use, having a demo account to test the platform and have first contact with it never hurts. The demo version is free, but you need to make an initial deposit of $250 to get access to it.
The demo account should function like the real platform. The only difference is that you use virtual money.
It doesn’t hurt to mention that live trading won’t give identical results as a demo account. In other words, if you gain virtual profit with a demo account, it doesn’t mean you will gain real profit with live trading. Therefore, don’t play passionately and measure each step before making it.
Operates 24/7
One of the main advantages of the crypto market compared to other markets is that it never closes. You can trade cryptocurrencies at any time of the day, and BitGPT, like any other trading platform, knows this. This trading bot says to work 24/7. For some, this is the ideal opportunity to make a profit. Still, invest only the amount you can afford to lose, and never allow this world to suck you up.
BitGPT Pros and Cons
Here are the main advantages and disadvantages of BitGPT.
Advantages:
- Security
- Free demo account
- 24/7 customer support
- Relies on artificial intelligence
Disadvantages:
- High minimum deposit
- Unknown development team
- Few reliable user testimonials
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
Celebrities and BitGPT
Many celebrities are getting linked to different trading bots, systems or exchanges – for example Matt Damon repping Crypto.com and Tom Brady the now-defunct FTX.
BitGPT has been linked to Elon Musk since he inspires great respect in the world. InsideBitcoins investigated deeper and scrolled through several forums to find out whether Elon Musk ever mentioned BitGPT. We didn’t come across any information connecting this trading bot to Elon Musk.
Gossip sites mostly create click-bate titles to reach more traffic and position themselves better online. Since AI crypto tokens and tools are getting increasingly popular, it’s not strange to see them in this scam role. Trading bots that are not very popular often pay for commercials hoping to arouse interest in investors. We advise you to always investigate deeper before believing in different allegations.
How Does the BitGPT App Work?
BitGPT review also focuses on the way this trading platform work. You need to make a minimum deposit of $250 to use the platform. There are different payment options for investors to use.
Before you start using it, the platform claims that it provides new-to-date information needed for understanding the market and factors influencing the market, and the final results of trading.
It’s important to set a clear strategy before you start trading. BitGPT claims to help its users to pre-determine decisions and plan goals, establish risk tolerance, and make a profit. This trading bot allegedly helps all its users limit their losses in the event of a sudden price drop using rational decisions for users. We are not sure the platform does what it says to because we didn’t test it.
As of late 2023, the platform reportedly offers a new upgraded version, Bit Urex GPT.
How to Use BitGPT App
If you are intrigued about trying BitGPT, follow the next four steps.
The truth is that the process to follow is quite simple, but since we want to make it as easy as possible for you, the steps you should follow to start investing with BitGPT are shown below.
Step 1: Visit the Official Website
The first step is to visit the BitGPT app website and register. Enter your correct details in the registration form and make sure they are inserted correctly. Leave full name, email, and phone number.
Step 2: Make a Deposit
Most trading bots request their users to make a deposit before starting trading. The same is with BitGPT. The minimum is $250. Never invest the amount you can’t afford to lose.
Step 3: Demo Account
The role of a demo account is to introduce you to the way the platform works. You will use the virtual money and practice trading before going live.
Step 4: Live Trading
Here comes the volte-face. You are no longer using virtual, but the money you previously deposited. When you feel confident and know the platform perfectly, go for it.
Is BitGPT a Scam?
This BitGPT review tried to clarify whether BitGPT is a scam. InsideBitcoins never tested the platform however. What we did was gather all information from different forums, read different experiences, and present them in this article.
BitGPT is a crypto trading platform that observes the market and reacts when it sees a profitable opportunity. It claims to rely on an AI-driven algorithm that helps it make the right decisions and eliminate the potential risk factor that most traders fall victim to.
The nature of the crypto market is well-known among investors. It’s highly volatile and not regulated. It carries incertainty with it and the inability to react in time because the market sometimes changes from minute to minute. Given the fact that the market never sleeps, investors often rely on trading bots to make a decision instead of them.
InsideBitcoins advises you to think twice before investing. This especially applies to cryptocurrencies. Remember, investor protection is not applicable while trading with unlicensed brokers.
If you want to try an alternative for crypto trading bots, you can go with one of the licensed brokers like eToro. Check out our detailed eToro review.
Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.
Bit GPT Ai Alternatives – Automated Trading on Exchanges
The copy trading feature on eToro is an alternative to using a trading bot. FCA and CySec-regulated cryptocurrency exchanges let investors replicate the trading decisions of a profitable trader of their choice or a combination of several.
InsideBitcoins advises diversifying your portfolio by allocating part of your funds to a safe, reputable, and long-established platform like eToro. Never invest 100% of your funds into one trading bot or hold it on one website, broker, or exchange. Start with a minimum deposit on any platform you choose, and make a small withdrawal as a test.
