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BitTrader Review – Scam or Legit?

BitTrader LogoBitTrader is one of a growing number of automated cryptocurrency trading systems that enable market participants to automate their trades in pursuit of improved earnings and outcomes.

After gaining fame over the past year, BitTrader’s user base has grown, as more traders are curious about how this automated trading platform or ‘robo advisor’ operates and whether it is genuinely profitable or a scam.

Before utilising the software, it is essential to be familiar with a few of its core elements. This BitTrader review will shed more light on the platform, helping potential users to choose whether or not it is suitable for them.

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    BitTrader Summary

    A highlight of BitTrader’s features is outlined below:

    • Product Type – Trading platform
    • BitTrader App – Not available
    • Trading Commissions – None
    • Multi-Currency Support – No
    • Claimed Success Rate – 93% (unverified)

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    What Is BitTrader?

    BitTrader is advertised as an automated cryptocurrency trading platform designed to optimise trading activities in the cryptocurrency market. The tool was designed to help traders with several functions, including research and price analysis, to ease the trading work and help traders earn profits even while they’re not active.

    BitTrader Review

    According to the BitTrader website, this crypto trading bot was built in 2018 by a team of expert traders and mathematicians who saw the market crash that year and decided to develop a platform that helps to improve trading accuracy. After launching a prototype in 2019, they eventually released the full platform in 2020, gaining an influx of users from then on.

    It is vital to remember that the platform’s developers have not exposed their identity. There is no trace of their identity online, and other BitTrader reviews have also been unable to discover who the developers are. This is one of the many reasons users are advised to be careful with the software. Check out our review of BitAlpha AI for another relatively new automated crypto trading platform with a similar performance rate.

    As we mentioned earlier, BitTrader’s user base has grown. Check out our list of Bitcoin Robot reviews for the basics of automated crypto trading.

    BitTrader Pros & Cons

    Pros

    • User-friendly interface
    • Quick account opening
    • Multi-currency support
    • Advanced trading algorithm

    Cons

    • No mobile app
    • Relatively high minimum deposit

    How Does BitTrader Work?

    As explained on its website, BitTrader uses an advanced algorithm powered by artificial intelligence and machine learning. The tool focuses on understanding and spotting market trends, thus finding the right positions to enter and exit the market.

    BitTrader’s developers have touted the efficiency of this strategy, claiming that the tool is able to help traders achieve success on 93% of their trades. This should put the platform in the upper echelons of the best trading platforms.

    BitTrader ReviewHowever, there is no means to check if these assertions are true. Users will need to do a BitTrader test in order to determine whether or not the program is, in fact, as useful as its developers have asserted it to be.

    The automated crypto trading platform also works with brokers that help it to handle trades on behalf of its users. Essentially, the tool scours and analyses the market to identify trends as well as optimal trading positions. Then, it passes the information to these brokers, who process the trades for its users.

    However, it doesn’t provide any information about these brokers or their identities. Once again, performing a BitTrader test is the best way to understand better how it works.

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    BitTrader Key Features

    As most BitTrader reviews have shown, the trading tool has several impressive features. Here are some of its key features:

    User-Friendly Interface

    BitTrader’s developers have claimed that the tool is incredibly easy to use. It should be usable by those with little to no experience trading on the cryptocurrency market. However, novices should exercise caution when utilising the tool.

    Automated Trading

    One of BitTrader’s primary features is its automated trading.

    Automated crypto Trading

    The BitTrader developers have touted it as being very seamless, with beginners and advanced traders able to use it and a minimal setup required.

    Quick Signup

    BitTrader claims to allow users to get started very quickly. The tool doesn’t require any lengthy identity verification processes, so users should be able to get set up in minutes.

    Advanced Trading System

    With its use of a state-of-the-art trading algorithm and artificial intelligence, this platform purportedly ensures a high success rate of 93% on trades. Although it hasn’t been proven yet that this claim is true by any third parties or public backtesting. Some AI trading platforms only beat the markets around 51 – 55% of the time – with a stoploss that’s still enough to be profitable in the long term.

    Demo Account

    BitTrader also provides a demo account for traders. Beginners can use this to understand how the platform works, while advanced traders can perform a BitTrader test with the demo account.

    BitTrader Fees

    One critical area of interest for traders regarding trading tools is their fee structure. BitTrader has a simple structure; it is outlined below:

    • Account Opening Fees – None
    • Maintenance Fees – None
    • Trading Commissions – None
    • Deposit Fees – None
    • Withdrawal Fees – None

    According to BitTrader’s website, the platform doesn’t take any commissions or cuts from trading profits. However, its brokers could still charge fees for their trade execution services.

    Is BitTrader a Scam?

    With all that’s been said, traders wonder, “Is BitTrader a scam?”

    It isn’t easy to tell. Several BitTrader reviews have alluded to the platform’s efficiency and reliability, and its developers have claimed that they help traders to make thousands of dollars in profits daily. This could encourage some traders to give it a try.

    However, the information on BitTrader’s website, as well as the developers’ claims, are still largely unverified. This means traders looking to utilise the platform have no reliable way to test the platform’s legitimacy.

    Thus, traders are advised to tread carefully when they use tools like BitTrader. Trade responsibly and maintain risk management best practices.

    BitTrader Minimum Deposit

    Traders looking to use BitTrader will need to deposit at least $250 to get started with it. This minimum deposit threshold is competitive with several other trading tools in the market today. A few such as BitProfit waive any initial deposit requirement however.

    For safety reasons, traders are advised to begin with this minimum deposit amount. With the crypto market being volatile, responsible trading is a necessity.

    BitTrader Customer Support

    BitTrader’s developers have claimed that the tool offers a reliable customer support system. Traders can contact its customer support if they have any requirements or need any help.

    BitTrader Contact Form

    However, there is scant to no information regarding the customer service channels or the response rate of such channels.

    How to Use BitTrader

    To get started with BitTrader, follow the steps outlined below:

    STEP ONE: Sign Up

    Head over to BitTrader’s official website. Complete the required fields on the website’s form, including a complete name, email address, and phone number, and submit the information.

    BitTrader SIgn UpOnce done, BitTrader will connect the trader to a broker in their region. Usually, this process is completed in minutes.

    STEP TWO: Fund Account

    Bittrader users can fund their accounts using different channels, including payment processors, e-wallets, and bank transfers for some countries.

    Traders are advised to stick with the tool’s minimum deposit of $250.

    STEP THREE: Demo Account

    The demo account is a good feature for beginners and advanced traders. Users can easily utilise the demo for a walkthrough, whether to understand the tool’s internal workings or test out trading strategies.

    While it isn’t a necessity, the demo account is a recommended feature.

    STEP FOUR: Live Trading

    After using the demo account, users can move on to live trading on the automated crypto trading platform.

    Is BitTrader Legit? The Verdict

    BitTrader describes itself as profitable automated cryptocurrency trading platform built to optimise crypto trading activities, and generate a sustainable high ROI (return on investment). According to its developers, the tool is purportedly easy to use, helping traders to optimise their profitability.

    However, it is also important to tread carefully with this or any other automated crypto trading platform. Its developers are anonymous, so there is no accountability system. And with the crypto market’s volatility, traders are advised to remember responsible trading practices at all times, including setting a stoploss.

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    FAQs

    What is BitTrader?

    Currently trending online, BitTrader is a new automated trading platform that promises to help cryptocurrency traders earn profits from the market more easily - even while they’re not actively trading.

    Is BitTrader legit?

    While the software has several reviews and testimonials that claim it is a profitable trading robot platform, the site is also lacking details regarding backtesting and audit information and its developers’ identity. We could not verify the legitimacy of BitTrader, so we advise investors to utilise the automated crypto trading platform with caution.

    How do I join BitTrader?

    An investor can get started with BitTrader by signing up on its official website and entering their information on the registration page - see the steps above in this guide for screenshots.

    Who owns BitTrader?

    There is currently no information available online about BitTrader’s founders, owners or developers - although proprietary crypto trading bot software is often made by an anonymous team for privacy. Exercise caution however - as that can also be the sign of a scam.