Our In-Depth Review of Bitcoin Trader
Cryptocurrencies are increasingly gaining the attention of individual investors and finance professionals alike, many of whom are looking to place assets in funds that can potentially yield exceptionally high returns. The price of cryptocurrency is extremely volatile and can fluctuate by the minute, leaving investors wondering how they can best generate profits in such a changeable ecosystem.
The ability to make split-second investment decisions and to quickly submit transactions to an exchange is crucial for producing robust yields in the cryptocurrency markets. Auto-trader software holds great promise as a tool for use in the automation of transactions, helping to increase the number of successful trades and to accelerate the speed with which transactions are confirmed on an exchange.
This Bitcoin Trader review describes how the software works, discusses its key features and explains how to create an account for trading. The narrative concludes with an overview of potential pitfalls and describes ways to protect investments that are made on cryptocurrency platforms. Check also Bitcoin Revolution its competitor
Presenting Bitcoin Trader Pro
How the trader software works
Bitcoin Trader was created in 2017 by Gary Roberts. It is a web-based platform that enables continuous monitoring and automated trading on multiple exchanges. The trader continually interacts with financial markets to extract relevant information, including orders, prices, transaction volume and time of trade.
This Bitcoin Forex platform operates in binary options trading, interacting with application program interfaces (APIs) to integrate information that it retrieves from numerous sources. Its built-in trading signals module continuously scans and analyzes market transactions to identify the most lucrative investment opportunities. Trading signals provide information about every aspect of the transactions, making it very easy for investors to make a profit by implementing the auto-trader program.
The platform uses a rules-based algorithm to make real-time predictions about market trends and to execute buy and sell orders on behalf of account holders. The software can be configured to conform to user preferences, making it extremely versatile and appropriate for use in numerous investment scenarios.
What trader software means for investors
Cryptocurrency exchanges use two primary trading strategies. Arbitrage refers to the process of buying currency on one exchange and selling it at a higher price elsewhere. Market making uses price averaging to create an investment strategy based on a set of user preferences.
Arbitrage first became popular in the early days of crytocurrency trading, when exchanges often exhibited large price differences. Investors could buy low and sell high by using multiple exchanges, making arbitrage a very profitable way to trade. Price differentials have narrowed over time but still occur at certain times across exchanges. Trading bots integrate data from multiple markets, enhancing the arbitrage process by identifying the most lucrative investment options that are available at any given time.
Market making uses transaction history to develop long-term averages. This strategy derives its information from past trades and, as such, is not responsive to real-time transactions. Market making has limited usefulness as a stand-alone strategy because it cannot produce accurate real-time information. Market making can, nevertheless, be useful when configuring a platform for manual trading because trader bots can integrate transaction history without being limited by its point-in-time quality.
Offering real-time trade information, trader bots apply transaction history to the present moment, making trade information dynamic and actionable. The high speed of computation results in efficient arbitrage that is informed by knowledge of currency behaviors over time. Forex trader bots thus create a seamless integration of the two trading strategies and return winning predictions with a high level of accuracy. This Bitcoin trading bot, for example, has a transaction win rate of 99.4 percent.
Who can benefit from installing Bitcoin trading software?
The ability to identify profitable nodes and to quickly submit transactions makes this trader especially useful for anyone who intends to exchange large amounts of cryptocurrency. The software can also be a useful adjunct to node mining, lending its speed and predictive powers to fast and accurate guesses about market statistics.
Investors who do not intend to make trading their primary activity, or who plan to trade only very small amounts of currency, may derive fewer benefits from the use of this auto-trader. Casual investors may find that setting up an appropriate cryptocurrency wallet and locating a reputable exchange serve their purpose well without the need to install or configure additional software.
How this Bitcoin trading platform differs from the others
Bitcoin Trader Pro is by no means the only auto-trader program that is currently in existence. There are other popular platforms, all of which offer advantages and create drawbacks. The choice of trader software depends on expected profitability, available resources and intended use.
The ability to configure a platform for manual or automated trading is a common feature that is shared by many of today’s trader bots. Some bots offer a free trial period to help investors to become familiar with the trading platform.
While many programs charge transaction and broker fees, there are some that are offered at no cost to participants. Most trader software platforms require an initial investment that typically ranges from $200 to $250.
As a rule, trader platforms allow users to configure transaction preferences and provide price information about multiple exchanges. All auto-trader software provides continuous price monitoring and 24/7 access to cryptocurrency exchanges.
The Haasbot and Gunbot platforms are available for Windows, Mac and Linux operating systems. Other platforms, such as Cryptohopper and Cryptotrader, allow experienced traders to configure additional transaction parameters that increase profitability.
The 3Commas platform includes a social trading module that allows investors to test and implement successful portfolios that have been created by other platform users. Zenbot and Gekko are two popular open source trader platforms.
Investors who do not wish to use an auto-trader may choose to trade through a contract for difference (CFD) broker. CFD brokers are regulated by financial authorities that can provide a level of security for an investor’s fund. This method of trading requires an investor to speculate about price fluctuations and to use their predictions to fund the most profitable transactions.
The option to use CFD brokers is probably best for investors who are knowledgeable about cryptocurrency markets and who have trading experience. Most traders are likely to welcome the auto-trader solution, which accomplishes the functions of the CFD broker without the anxiety and potential losses that can result from making incorrect predictions.
Unlike other auto-traders, this platform combines an intelligent algorithm, automated trading, real-time predictions and an exceptionally high win rate. This software is the only Forex trader that performs faster than the markets, which makes it a very profitable way to trade cryptocurrencies.
Characteristics of the Bitcoin Trading Platform
Perhaps the most notable traits of this software are its speed, accuracy and flexibility. These features work together to create investment predictions that have nearly-perfect accuracy.
Since the software manages the trades, there is the potential to realize substantial profits after making only a minimal time investment. A bot that is correctly configured can perform transactions at a much faster rate than a user could complete manually.
This section discusses the key features of this trader and concludes by providing answers to some of the most frequently asked questions.
Key features of this auto-trader software
- This trader bot employs an intelligent algorithm that wins trades with 99.4 percent accuracy, making this software an ideal choice for those who make large investments.
- The platform allows funding of an account with any major debit or credit card, which creates a convenient and direct path to provisioning the trading wallet.
- The software is 0.01 seconds faster than the exchange platforms, which can produce significant returns in large-scale trading operations.
- The trading platform can be set up in less than five minutes and some investors report having seen their first profits within 30 minutes.
- The platform can be configured to run on manual mode, which may be useful for investors who want to have greater control over transactions or who intend to invest small amounts of money.
- The intuitive user interface allows configuration of languages and allows investors to create real-time updates.
Potential disadvantages of using this platform
- While the software is free to install, there is a required $250 deposit to begin trading.
- Transactions are fully automated and users could forget to update the rules that govern auto-trader behavior as new information becomes available. This could result in a loss of accuracy and creates the potential for lost revenue.
Frequently asked questions (FAQs)
How much time is needed to realize profits?
This bitcoin trader has been reported to yield profits for investors who trade on the platform for as little as 20 minutes per day.
What is the cost of using this software?
This software is free to install and to use after an investor has registered his or her an account and has received approval. There are no broker or usage fees connected with the use of the platform.
Is it possible to use this program on a mobile device?
While it may be possible to use the browser to run this program on certain mobile devices, there is no mobile app that can be used to access the platform. To run this auto-trader on a mobile device, it is necessary to have a phone that uses a supported browser and an operating system that runs on hardware that can support program functions.
How much can investors expect to make by using an auto-trader platform?
Investors who expect to generate a 3-6 percent annual profit with the help of an auto-trader should be able to realize consistent returns. It is worth noting that an auto-trader that produces a 10 percent rate of return has far exceeded the capabilities of most human brokers.
Is there a way to calculate potential profits?
Those who are serious about trading on cryptocurrency exchanges will benefit from performing exact calculations pertaining to potential profitability. There are online calculators that facilitate this process but investors can easily generate some of these estimates on their own.
Estimating potential profits entails making a comparison between buy price and sell price. Investors will also want to include operating expenses, such as electricity and equipment costs, and to set the profit to a pre-determined level that they wish to attain. Having these initial estimates in hand will allow investors to decide which of the auto-trader investment options best match their desired profitability level.
Getting Started With Cryptocurrency Trader Software
To achieve profitability through the use of bitcoin proprietary trading platforms, investors must follow several steps involving software installation, account creation, account funding and investing.
Creating an account
This section will describe the steps that are involved in account creation.
- The user should first navigate to the software website.
- On the first page, the account owner should enter his or her full legal name and legal address.
- Clicking “Next” will direct the user to the password creation page.
- At this step, the investor should create a Bitcoin trader login. The login includes a password that is at least six characters long. This password must include letters and numbers but must not include special characters.
- Clicking “Next” will direct the user to the last page of the account setup process.
- On this page, the account owner can choose his or her country and type in a valid telephone number.
- Clicking the “Register Now” button will complete the account creation process.
- The login can now be used to access the trader platform, where investors can configure preferences, observe trades in real time and withdraw funds.
- To begin trading on this platform, investors must first deposit a minimum of $250, which can be done using a credit card or debit card. The user will be asked to enter the card type, card number, expiration date and security code at the time that the deposit is made.
Installing the software and trading on the platform
The use of this platform carries no additional fees and the proprietary software is free to download and use once the investor account has been approved. The software is easy to install and the intuitive interface allows users to configure preferences, including languages to be used in trading and the parameters for selling.
This platform offers the option of trading in demo mode, using virtual currency to fund the transactions. Demo mode makes all the features of the software available while allowing investors to avoid the risk of losing any actual funds. This feature is useful for first-time users and for experienced investors who prefer to ease into the trading platform by learning its rules of operation before risking any real currency.
When the demo funds are finished and the investor has gained confidence in his or her trading abilities, the account owner will probably want to update trade-related preferences. Settings that should be updated at this time include investment amount and desired daily profit. Users can configure additional settings, such as currency pairs to trade and maximum daily trade amounts, if they wish to do so.
Although trades are carried out automatically by the software, investors can configure transaction preferences. The bot can be instructed to sell when assets reach a predetermined profit level or can be configured to buy when pre-specified investment conditions are met.
Earnings can be transferred to a bank account by placing a funds withdrawal request through the trading platform. Transactions are typically credited to an investor’s bank account within two business days.
Maximizing Profits and Protecting Assets on Trading Platforms
No discussion of cryptocurrency trading software would be complete without a mention of three topics that frequently gnaw at investors: identifying investments, safeguarding assets and avoiding scams.
Identifying investment opportunitiesInvestors can save a great deal of time and effort by allowing the software to automatically execute trades according to its algorithm. It is probably to the investor’s advantage to become knowledgeable about basic information pertaining to cryptocurrency trading. Going beyond the basics is ideal, however, even if more extensive knowledge is gained only in one specific area or currency.
Rather than allowing the bot to make fully independent decisions, the investor may want to use his or her knowledge to configure the trader software according to personal preference and financial requirements. The speed and accuracy of the trader software creates a perfect synergy with the investor’s experience to maximize the potential returns that can be gained through the use of auto-traders.
Trader bots are exceptionally adept at integrating information from numerous sources and can quickly summarize its findings to create an optimal investment path. A human investor, however, is much better able to discern patterns from observing exceptions that a bot will easily miss. For this reason, investors may want to generate the rules first and configure the bot later.
This approach clearly requires a higher level of skill and a greater investment of time but may be preferable for investors who are knowledgeable about trading and who wish to have more fine-grained control over their transactions.
Safeguarding profits and avoiding scams
A trader bot uses a gigantic store of information to derive its predictions and, as such, is exquisitely accurate in the long run. It is important to remember, however, that the price of cryptocurrency is extremely volatile and that all investments carry some level of risk. The best way to protect cryptocurrency investments is to be informed about market trends and to know the behaviors of specific currencies.
While trader bots have phenomenal potential to produce robust results in automated transactions, it is probably a truism that even intelligent software cannot exceed the capabilities and skill of its human programmer. Investors who are well-versed about trends and products are likely to create the best set of rules for use in pre-programming trader software.
Even the best trader software and most knowledgeable investor will at one time or another be faced with a clever scammer. The best protection against scam-related losses is to always trade only on reputable exchanges.
Investors may need to conduct independent research to know which exchanges are reputable. Customer reviews, product reviews, industry websites and consumer reports can be invaluable sources of information that can help to steer investors away from scams.
Software should only be installed from the official website, rather than from links that are provided in emails or that appear on redirected websites. Such links may correspond to phishing websites and may even facilitate a malware infection. Software that is obtained from unofficial channels may install incorrectly, resulting in reduced functionality and compromised security.
It is probably worth mentioning that most cloud investing opportunities are best avoided. These types of investments are most often Ponzi schemes that will put investors out of money in the long run. Transactions that are related to these investments are much less transparent than those that take place on regular exchanges, resulting in an exponential increase in the level of risk.
Cryptocurrency trading has become an attractive investment option for many individuals, who are discovering that the use of Forex trader bots increases the potential for high yields. By carefully configuring the auto-trader and consistently engaging in asset protection practices, even a beginner investor can maximize profits that he or she also manages to keep.