The rise of the cryptocurrency market has led to many websites and platforms popping up online, marketing themselves as trading software that could give you the opportunity to earn passive income. We came across Bitcoin Profit online in our extensive search to find some of the best tools that could help us with our trading experience. In this Bitcoin Profit review, we detail how the app works and if it’s something worth trying out.
Defining Bitcoin Profit
The Bitcoin Profit software is, first and foremost, not a trading dashboard. It does not directly offer trading software or services, nor can you conduct live trading with it.
The Bitcoin Profit app is simply a platform that connects its users with its reputable partner brokers, all of whom offer a diverse set of trading software that can be at your disposal. Bitcoin Profit is essentially your gateway to a curated pool of brokers with reliable software.
Creating a Bitcoin Profit Account
Our review of the registration experience with Bitcoin Profit was very straightforward. There weren’t any unnecessary steps, and the entire process took only a few minutes. We just followed these three simple steps also found on the Bitcoin Profit software website:
1. Sign up
To create Bitcoin Profit Account, you must first fill in your personal details such as your name, address, and birthday. Bitcoin Profit didn’t ask us for any unnecessary information. After giving the details, your free account will have to be verified. While the verification system usually takes days for other third parties, it only took a few minutes for Bitcoin Profit.
2. Fund your account
For your Bitcoin Profit account to be active, you must first fund it with your initial capital. The minimum deposit is $250, which can also be used for online trading.
This relatively small required minimum deposit is what we like most about Bitcoin Profit’s partner brokers. Other online crypto platforms require larger initial capital just to open an account. This isn’t the case for Bitcoin Profit.
Bitcoin Profit’s payout system is also very straightforward. Through its partner brokers, you can use debit cards, credit cards, e-wallets, or wire transfers to your local bank account for deposits and withdrawals. During our review process, we found no evidence of hidden fees or charges.
3. Start trading
After creating and funding your Bitcoin Profit account, you can then start trading through Bitcoin Profit’s third-party brokers. This is the fun part! Bitcoin Profit will make available to you so many different third parties providing trading software tailored to your trading style.
Judging Bitcoin Profit
During our extensive review and test of the Bitcoin Profit system, we found many helpful trading services provided by its partner brokers. We’ll strive to detail them all here, but keep in mind that there are many more features apart from these ones:
– Demo trading
Considering the high volatility of the cryptocurrency market, some newbie traders may not want to risk losing their initial capital all in one go—especially if they have yet to be accustomed to the crypto market. Demo trading solves this problem.
The demo trading feature, offered by Bitcoin Profit’s partner brokers, allows you to test the market out first before actually spending your invested capital. You can participate in live trading using virtual money.
We like the demo trading feature because it helps you practice—practice using the trading software, practice digesting market trends and practice trading cryptocurrencies in general. A vast majority of newbie investors get into the cryptocurrency market with little to no background. Demo trading allows them to test the waters first before fully wading in.
The broker pool within the Bitcoin Profit platform also offers copy-trading services. Copy-trading essentially allows users to copy the buy and sell orders of other public users. You can copy their portfolio mix when trading cryptocurrencies.
We can all agree that trading processes are very complex, and not everyone has it in them to fully understand them. Some are better at crypto markets than others. Copy-trading allows you to copy the portfolios of traders who are much more adept at live trading than you. If you don’t want to make investment decisions by yourself, you can simply copy what others are doing and hope for the best.
– Auto trading
This is for sure what we like best among the services provided by Bitcoin Profit’s partner brokers. An automated trading system essentially gives you access to trading robots who can do the buy and sell for you.
This is an advanced automated system tool that should only be used by seasoned traders since it takes some getting used to. Using auto trading, you can set up a trading robot using a defined set of parameters and settings. The trading robot will then act on your behalf and open or close your crypto positions, depending on the parameters set up on your trading dashboard.
Keep in mind that trading robots still need a certain level of human intervention to function smoothly. You have to define your market signals for the trading robot before it can function properly during live trading. A lot of thought should go into this since you could lose money if you don’t set it up well.
– 24/7 customer support system
The Bitcoin Profit Software has a 24/7 customer support system that we were able to test out firsthand. Bitcoin Profit claims to have an experienced team behind the website, and everything we’ve seen so far supports this claim.
Debunking Bitcoin Profit rumours
So many claims of celebrity endorsements for the Bitcoin Profit app have popped up online, but we haven’t seen concrete proof of any of these anywhere. Some even link Bitcoin Profit to Elon Musk because of his involvement in crypto markets as of late, but these rumours have so far proven to be false.
We’ve also seen some online stories of a Bitcoin Profit scam. These, we can say for sure, are fake reviews. They are not true. The Bitcoin Profit platform is 100% legitimate, in our view. We’ve tried the entire registration process, checked out its partner brokers, and even tested out the brokers’ trading app during actual live trading. They all work, and they’ve definitely given us opportunities to at least make a significant profit.
Earning Money through Bitcoin Profit
This is a common misconception. You cannot earn money through Bitcoin Profit itself since it is not a trading platform. It only connects you to its partner brokers. Once in touch with its pool of third-party brokers, only then will you be able to trade cryptocurrencies—but even this does not ensure gains.
A lot of people think that the crypto market is basically free money. Those people are definitely wrong. The cryptocurrency market is very volatile, and there are a lot of risks involved.
While Bill Gates did say that “to win big, you sometimes have to trade big risks,” a bad or unlucky trade could lead to you losing your entire capital within just a few minutes. Earning passive income through crypto is very difficult. Therefore, it is important that you do your own research before actually starting to trade. Financial markets are very finicky, cryptocurrency trading even more so.
Nothing written in this Bitcoin Profit Review should be considered investment advice. It is your job to take what is written here and apply that to your own trading processes.