2021 was a bellwether year for blockchain-based assets or cryptocurrencies. Massive adoption and integration across several businesses and platforms have seen these decentralized currencies become household names. However, these assets are intrinsically volatile as they are not tied to real-world assets.
This has given rise to Bitcoin robots which help mitigate losses while optimizing profits for trading cryptocurrencies. In this Bitcoin Bank review, we will examine one of the rising stars in this nascent sub-sector. We will also carry out a Bitcoin Bank test to ascertain its veracity.
Bitcoin Bank Summary
To give you a quick overview of our Bitcoin Bank review, here’s a table with some of its most important statistics:
| Minimum Deposit | €250 |
| Claimed Success Rate | 99% |
| Supported Cryptocurrencies | BTC |
| Mobile App? | No |
| Fees | None |
Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.
What is Bitcoin Bank?
Bitcoin Bank is a cryptocurrency trading robot that aims to help crypto traders improve their accuracy and, by extension, their chances of making money in the market. The robot focuses on improving the trader’s success rate by identifying market trends and helping them to capitalise on them.
Focusing on speed and accuracy, Bitcoin Bank was built to help traders find the right points to enter and exit trades. However, the robot’s developers have also touted its flexibility as a major feature. The development team claims that it offers both manual and automatic trading capabilities. This means that the bot should be ideal for beginners and experienced traders.
Bitcoin Bank uses machine learning and artificial intelligence to scan the crypto market and identify prevalent trends. With its high-frequency trading software, the bot goes ahead to find optimal trade entry positions. As trends shift, Bitcoin Bank’s intuitive system can open and close trades swiftly, thereby improving the chances of making profitable trades.
Furthermore, the Bitcoin Bank robot has a claimed success rate of 60% during optimal market operations. We couldn’t verify this rate, but it’s similar to the figures obtainable in the market.
According to the bot’s developers, Bitcoin Bank is 0.1 seconds faster than the market itself. We couldn’t verify this, but the developers have claimed that this is one of the contributing factors to its accuracy. We also couldn’t find much information on the developers of the Bitcoin Bank robot. While this might be considered a red flag, it is worth noting that a lot of crypto robot developers tend to keep their details private for security reasons. So if you’re asking, “is Bitcoin Bank a scam”, this doesn’t put them in that bracket.
To unlock the full power of the Bitcoin robots, Bitcoin Bank requires users to fund their accounts with a minimum deposit of $250. This sum is used by the crypto trading robot to scan the market and forward its findings to brokers. Fee-wise, Bitcoin Bank does not charge users for placing trades using its software. Impressively, Bitcoin Bank has done away with hidden fees and commissions from brokers. This makes the platform one of the best Bitcoin robots out there.
As per supported cryptocurrencies, Bitcoin Bank currently allows trading for the foremost digital asset Bitcoin. However, the best Bitcoin brokers that work with Bitcoin Bank only enable crypto CFDs. CFD is short for contract for difference and is a form of financial derivatives trading. Here, a user only trades the price differences between when he/she purchases a contract and when it expires. CFDs are quite ideal if you are not keen on holding digital assets directly as you can profit from their price movements.
Our Bitcoin Bank review shows that there is no stand-alone Bitcoin Bank app and all trades are executed using the web platform.
As a beginner trader, it is important that you approach this bot very carefully. Crypto trading is highly risky, you should only invest an amount you can afford to lose.
Bitcoin Bank Pros & Cons
Let’s take a quick look at the advantages and disadvantages of using Bitcoin Bank:
Pros
- According to the website there are no transaction or hidden fees
- Offers a demo account for testing and training
- No lengthy identity checks
Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.
How Does Bitcoin Bank Work?
The Bitcoin Bank robot uses artificial intelligence and machine learning to handle trades across its platform. The bot’s goal is to spot trends using market data and provide insights on the best times to enter and exit trades.
It is worth noting that Bitcoin Bank trades using contracts for difference (CFDs). These are derivative financial products that give you the right to buy Bitcoin, for instance, or sell the asset at a later time and at a given price. However please remember that all trading includes risk.
The difference between the asset’s current price and the price when the contract expires will determine your profit or loss. So when you trade with Bitcoin Bank, you’re trading CFDs. You don’t buy the cryptocurrency itself.
Regarding day trading crypto with this bot, Bitcoin Bank works with a network of crypto brokers. These brokers are responsible for trade execution, position-sizing, trade management, and other tasks.
Want to learn how to invest in crypto without doing much heavy lifting? The Bitcoin Bank robot is an exciting tool to consider. Once you initiate the minimum deposit into your account with Bitcoin Bank, the robots’ partner brokers will handle the trades on your behalf.
The success rate for this trading robot is pegged at a 60% rate, according to the website. This is the figure claimed by the Bitcoin Bank team. We recommend treading with caution as crypto trading is risky and the market is incredibly volatile.
Bitcoin Bank Key Features
Affordable Trading Bot
Bitcoin Bank doesn’t charge customers extra fees for trades. This means that they don’t take any commissions even on successful trades. This makes Bitcoin Bank one of the best Bitcoin robots to consider for traders, since there are several trading bots that take a cut on successful trades.
However, you should note that the bot’s partner brokers might charge fees for their services. These costs could include account management or trading fees. Ensure you have a clear view of those costs before proceeding with a broker.
Demo Account Available
There’s a demo account available for Bitcoin Bank users. The demo account allows you to test out your strategies and learn more on how the trading bot works. This is incredibly useful as you can test run the service using paper funds.
Brokers
Bitcoin Bank works with a network of cryptocurrency platforms, otherwise known as brokers. These brokers are primarily responsible for tasks like trade execution and management, and they will be the ones in charge of your funds. However, we couldn’t find details about registration details or even the identities of the brokers from the robot’s site.
Suitable For Beginners
Thanks to its versatility, Bitcoin Bank offers benefits for both beginners and advanced traders. The platform’s easy-to-use interface makes it ideal for beginners to setup and activate the trading bot.
Customer Support
Crypto robots often come with dedicated support teams. Bitcoin Bank is no different. To that end, the robot’s team claims to have a reliable customer support portal.
Bitcoin Bank Fees
Fees are an important part of trading cryptocurrencies. For our Bitcoin Bank review, here’s a summary of the fees structure of the crypto robot according to the site:
| Transaction Fees | None |
| Trading Commissions | None |
| Account Maintenance Fees | None |
| Hidden charges | None |
The Bitcoin Bank website claims that the platform doesn’t charge any fees. Your profits are 100% yours. However, what is truly yours is whatever remains following deductions from your brokers. You don’t have to keep or hand anything extra to Bitcoin Bank beyond the initial deposit of $250.
Is Bitcoin Bank a Scam?
With all that’s been said, we wanted to answer a burning question for most investors – “is Bitcoin Bank a scam?” To answer this question, let’s take a cursory look at the facts.
Bitcoin Bank claims to have a highly intuitive, high-frequency trading system powered by artificial intelligence. The bot trades CFDs, and it processes trades through several brokers across the world.
Many of these features are consistent with what you find with other crypto trading robots across the board. Thanks to the combination of all these and more, Bitcoin Bank’s developers claim that the robot offers a 60% success rate during optimal trading sessions. While impressive, we couldn’t verify any of these claims.
The Bitcoin Bank website also has a section where it publishes the results of some of its users in real time. However, these are just claims, and we couldn’t verify them on any third-party platforms or other Bitcoin Bank reviews published online.
In summary, there were a lot of claims made by the Bitcoin Bank developers – including the prospect of making 60% returns on your investment daily. While it’s common practice to have these figures, we couldn’t authenticate any of these figures during our research. We recommend that you carry out additional research before signing up on the platform.
Also, remember to approach the crypto market carefully and only invest an amount that you can afford to lose.
Bitcoin Bank Minimum Deposit
Our Bitcoin Bank review won’t be complete without providing information on the minimum deposit. Bitcoin Bank has a minimum deposit of $250. This price tag is actually similar with what’s obtainable from other crypto trading bots.
You should also note that this minimum deposit applies to the demo trading tool as well. So if you plan on using the Bitcoin Bank robot and test its suite of features, you need to cough up the $250 initial deposit.
It is important to keep in mind that the crypto market is very risky. Remember to trade responsibly and only trade with money you can afford to lose.
Bitcoin Bank Customer Support
The bot’s developers claim to have a customer support line that customers can get in touch with if they have any problems. However, we were unable to verify the availability of this support line. Most crypto trading bots offer support via phone and email, so we recommend that you check out the available support lines on Bitcoin Bank when you sign in.
Furthermore, be sure to contact them before you begin trading. It’s important that you work with a crypto trading tool that is always available when you need it.
How to Use Bitcoin Bank
If you’re interested in using Bitcoin Bank, here’s how to get started:
Register
Go to the Bitcoin Bank homepage and enter your name, email address, and phone number in the dialogue box. Click on the “Register Now” button to proceed.
Bitcoin Bank will connect you with one of its brokers in your regions, and you will be redirected to your profile page.
Use the Demo Account
You should note that the demo account is not a necessity. But, we recommend using it to begin your investment journey.
The demo account works well for all types of traders. Beginners can run a Bitcoin Bank test with the demo account to understand the platform and feel how it works. At the same time, advanced traders will be able to use the demo account to test their trading strategies and parameters.
Make a Deposit
The next step is to make a deposit. Go to the “Deposit” section on the bot and enter your financial details. Remember that Bitcoin Bank bot also has a minimum deposit balance of $250.
Bitcoin Bank allows you to deposit using cards, crypto, and bank transfers.
Go Live!
You can begin using the live trading feature once your account is funded and you’re satisfied with the demo account.
Withdraw your earnings
Bitcoin Bank guarantees that you will be able to withdraw funds at any time. However, remember that you would need to process your withdrawal using the same payment channel you used to make the deposit. So if you deposited with a wire transfer, your withdrawal would be processed and sent to the same bank account. Your funds should be processed within 24 hours, depending on your earlier payment method.
The Verdict
Bitcoin Bank is a versatile and flexible crypto trading bot that offers access to the market. The bot features a demo trading tool and access to contracts for difference (CFDs) denominated in cryptocurrencies. Its developers have claimed that it is entirely free.
We couldn’t verify the legitimacy of the claims made by Bitcoin Bank’s developers. We would recommend approaching the bot with caution. You can run a Bitcoin Bank test with the demo trading tool or read other Bitcoin Bank reviews in addition to ours to learn more about this software.
Cryptoassets are a highly volatile unregulated investment product. Your capital is at risk.
