Is it possible to trade Bitcoin completely automatically with a Bitcoin Robot? This is exactly what so-called trading bots promise. The offers on the market can now be described as diverse. With the help of signals, the programs promise to generate income.
Especially Bitcoin Code, Bitcoin Trader and Bitcoin Profit stand out in this context. However, even the best programs cannot guarantee profits.
We have therefore taken a look at the best trading bots. The following Bitcoin Robot experiences should show what to expect from the offers. Is a Bitcoin Robot scam or not? Especially the Bitcoin Code and Bitcoin Loophole are used by more and more traders. The experience reports on the Internet produce quite different experience values, so it is not even that easy for prospective traders to get a suitable overview here.
Registering with a trading robot is by and large no different from registering with comparable Bitcoin bots. First of all, you will be able to look around a bit on the homepage to get background information about the respective provider.
Sometimes it can happen that particularly high notes are spat here in order to steer as many customers as possible to the platform. You will then know whether a trading robot is reputable if you also receive safety and risk information about the trade. Before you start you should also look out for the best bitcoin exchanges on the market!
Step 1: Registration
Step 2: The demo account
In the ideal case, a demo account can be used immediately, with which one can examine the functions of the offer. With the help of test funds, you can get a suitable overview of the work of a trading bot. You can expect that the results of the test trading will be improved a bit to make the platform look good. In this sense, one should not make the mistake of confusing the test mode with real money trading. Bitcoin Code, by the way, offers such a demo account.
Step 3: The deposit
At the latest, when it comes to payments, one should exercise some realism. The minimum deposit is often set at a sum of around €250 and you should not invest more money for the investment experiment at this point. Even if you are dealing with a reputable crypto robot, the normal risks cannot simply be ignored. The offers also differ in terms of which payment methods are accepted. Otherwise, as a user, you should just make sure that the transaction technologies are also encrypted with SSL (which is the case with Bitcoin Code).
Step 4: The automatic trade
If Bitcoin Code now has a credit balance on the platform, then real trading can finally start. You will have to inform your robot that it should start trading. This does not happen on its own. It is at least as important to end the trade individually, so that the crypto bot does not continue trading for hours and thus puts all profits at risk again. So there is so much manual work to be done after all.
The best Bitcoin Robot: Bitcoin Code
Which Bitcoin robots are recommended? The choice is considerable and therefore we have summarized the most popular providers (below). As a trader, you can thus find a suitable bot within a very short time and make the experiences of the editorial team your own.
- The Bitcoin code is the talk of the town in various online forums. Some are happy about great returns, while others also lament some losses.
- One thing is certain in any case: the robot executes fully automated trading decisions for the trader. If you want to invest with it, you should also have a certain timing, because you give the starting signal for trades yourself.
- However, you should not let the robot run indefinitely, because otherwise losses are imminent. It is best to stay active on the platform and decide exactly when you want to start and when you want to let the Bitcoin bot rest.
We recommend Bitcoin Code because it has the best chance of winning. Bitcoin Code is our test winner in the Bitcoin Robots test.
What should you look for in a Bitcoin Robot?
1. the start page
On the home page, you get all kinds of promises that you can earn thousands of euros within just one day. This is another reason why many traders are faced with the question of whether Bitcoin Robot is a scam or not.
However, one should of course approach the matter with some common sense. With low capital, one will also have lower returns brought in. To get to know the platform, however, such amounts are very suitable.
2. the registration
It is best not to waste a lot of time on the home page, but to devote yourself directly to the registration. You only have to provide a few details about yourself and you will be redirected to the platform.
Thus, the registration should not present anyone with any major challenges. Separate confirmations are not required at this point.
3. the first test
At this point, it is first recommended that one activates the demo mode, as here one is guided through the various areas of the platform with a small tour. You can even activate the first signals to let the Bitcoin Robot trade in this demo mode.
However, these will still be test trades, which should not be confused with real data. Nevertheless, you will be shown what you can expect in real Bitcoin Robot trading.
4. the deposit
First of all, probably only the minimum deposit of 250 € is recommended, which allows one to access the platform. For these payments, the credit card is to be used in the first place. However, one can also claim bank transfers.
The BTC Robot executes various orders, which can be buy or sell orders. One is also shown how high the respective position packages are and what other characteristics of the individual trades are relevant.
In the so-called trading history, it is then revealed with which results the bot has traded and whether one has won or lost. Ultimately, only your own test of the provider will be able to show whether you will be able to complete successful trades.
How a crypto robot works
So, the number of crypto robots is considerable. Of course, it is important to get to know the most popular BTC Robots, which are thus mainly dedicated to Bitcoin, once. However, it is also of fundamental importance to go into how such software can actually work.
- A Bitcoin bot analyzes the market conditions and current rates. It takes into account the specifications of online currencies and also examines the general market behavior of traders.
- Prices, volumes and trends will also be included in the trades to calculate a probability of how the values will develop in the future.
Can mathematical calculations generate profits?
According to this, the robots can make use of a variety of mathematical functions. By the way, such functions are also presented to the trader on various trading platforms. They are then expressed in graphs and signals, which can give one hints for trading.
However, the bot takes the work of analysis off one’s hands and decides on the basis of its many calculations whether a buy or sell order should be placed and when. Depending on the Bitcoin robot, other calculations are used and different functions are taken into account.
In a way, it is the trade secret of the Bitcoin bot providers how exactly they make their decisions. So it can also be that depending on the offer then also completely different currency pairs are used.
Bitcoin Robot vs. Trading Robot
At first glance, it may not be immediately obvious where the differences between a trading robot and a Bitcoin bot should lie. After all, the two platform types are very close to each other in purely name terms.
However, if you deal with the matter of trading robots a little bit, you will definitely be able to notice one or the other difference. With your own trading robot experiences, you will undoubtedly gain further insights into this form of investment.
- Bitcoin Robots, as the name suggests, are primarily dedicated to the largest of all cryptocurrencies.
- Those who explicitly deal with Bitcoin in order to be able to capitalize on the price developments will want to deal with providers such as Bitcoin Code, Bitcoin Evolution or Bitcoin Compass.
- While a crypto bot is also a trading bot, a Bitcoin bot is also a crypto bot. Conversely, a Bitcoin bot is also a trading bot, but trading bot experiences do not necessarily have to include cryptocurrencies.
Got it all? At the end of the day, the subdivision sounds more complicated than it really is. After all, the terms are nothing more than umbrella terms for certain categories.
Conclusion: The Bitcoin Robot and possible risks
Is a bitcoin robot scam or not? Most platforms are likely to provide safety warnings and inform that such trading is done with highly speculative goods. So are there risks involved? Without question. Is bitcoin robot scam? Probably not.
One should be informed by his BTC Robot provider anyway that derivative financial products can also be accompanied by a total loss of the investment. Cryptocurrencies like Bitcoin are still risky. In this respect, it is even more important to ask yourself how much capital you actually want to invest in such an investment. Often, you are already well served with the minimum deposit.
Do not invest too much money!
Basically, you should only have 5-10% of your own portfolio invested in such trades. The golden rule is to spread your assets as much as possible. The smallest share of the investments should therefore apply to the high-risk investments.
Here are on the other hand also the highest yield chances given. Nevertheless, you have to set up your own safeguards. First and foremost, you should use only those funds that are available for such trading.
Translated, this means that you can also take losses in your Bitcoin Robot account. For us it is clear that a BTC Robot is an interesting matter that can be tested. The personal stake should be kept low at first. It is up to the trader to decide which Bitcoin Robot to trust in the end. (We recommend our test winner Bitcoin Code).
Since the Bitcoin Robot account can be tried out for free in most cases, you can also make a personal comparison of the providers and it is once again suggested that it is not likely to be a scam.