Table of contents:
- 1 Bitcoin Trader Test: Bitcoin Trader experience and comprehensive report on trading software
- 1.1 Why Bitcoin Trader?
- 1.2 The idea behind Bitcoin Trader: Testing the software
- 1.3 WHAT TYPES OF ANALYSIS CAN BE USED?
- 1.4 How does trading with the Bitcoin Trader work?
- 1.5 How to open a Bitcoin Trader account
- 1.6 Before real money trading use the Bitcoin Trader in demo mode
- 1.7 Is Bitcoin Trader serious?
- 1.8 How the robot performs in the Bitcoin Trader Test
- 1.9 What speaks for Bitcoin Trader
- 1.10 USE BITCOIN TRADER MOBILE
- 1.11 Make profits with Bitcoin Trader: What users should know
- 1.12 Crypto currency trading also without Bitcoin Trader
- 1.13 Invest physically in Bitcoin: Thus it is made
- 1.14 CRYPTO WALLETS FOR THE BITCOIN PURCHASE
- 1.15 MARKETPLACES FOR CRYPTO CURRENCIES
- 1.16 Bitcoin and other currencies trade via derivatives
- 1.17 CRYPTO TRADING WITH CFDS
- 1.18 Which CFD broker for Bitcoin Trader?
- 1.19 Conclusion: Bitcoin traders have numerous options for trading with BTC
Bitcoin Trader Test: Bitcoin Trader experience and comprehensive report on trading software
Automated trading is a way to trade more relaxed, especially for volatile financial products. In Forex and CFD trading, many traders already use so-called Expert Advisors, algorithms that open and close positions automatically after entering the desired parameters. When prices change rapidly, trading robots are more efficient and faster than a human trader could be. Bitcoin Trader intends to offer such a solution for trading Bitcoin and some other crypto currencies. The software was developed in 2017 and is expected to execute automatic trades based on market trends 0.01 seconds faster than any other system.
- High precision execution
- Manual trading possible
- 250 Euro minimum deposit
- Debit and credit cards accepted
Why Bitcoin Trader?
Traders who trade in crypto currencies also want to benefit from automated systems. Manual trading with Bitcoin on a crypto exchange is to be replaced by the use of Bitcoin Trader. Although the software can also be used for manual trading, it is primarily the auto trade functionality that is being advertised, with which, according to the developers, even beginners can achieve good returns. Time and again, one also comes across media reports according to which the concept has been discussed or recommended in television programs, in German television for example in the startup freestyle “Cave of Lions”.
In addition, the provider’s website offers the prospect of a daily minimum profit of 1,300 euros – with a minimum deposit of 250 euros. This sounds particularly tempting for beginners, especially since there is also talk of not having to deal intensively with the technical background of the crypto trade. In view of this information, we want to check, among other things, whether Bitcoin Trader is reputable and which Bitcoin Trader experience users can make with this trading robot.
The idea behind Bitcoin Trader: Testing the software
Bitcoin Trader has been on the market for two years and is by no means the only trading software of its kind. Those who use the Bitcoin Trading Robot do not have to trade manually, positions are opened in seconds and with high precision. According to reports by some users, really unprofitable trades rarely occur with the Bitcoin Trader. The attractiveness of such software for beginners is based above all on the fact that – according to the promise on the website – one does not have to take the time for intensive study of the markets. If you trade manually, you have to be constantly up to date with the development of the prices. Research in the macroeconomic field is also important, at least on topics that have an impact on the development of crypto currencies.
The Bitcoin Trader relieves the user of this research. The system automatically checks the prices, derives future trends from historical price histories, and does so within a few minutes. However, this does not rule out the possibility that the volatile coins could develop in a completely different direction than that determined by the trading robot. This is not due to the functionality of Bitcoin Trader, but to the volatility of the crypto currencies. So even with high-quality software, a lot can go wrong with automated trading.
WHAT TYPES OF ANALYSIS CAN BE USED?
Traders who make their own trading decisions use various forms of analysis – either separately or in combination. The so-called fundamental analysis uses all information to create a value. When it comes to trading a crypto currency such as Bitcoin, this means that not only must knowledge of technical developments be available, but also the latest news that in some way influences the price development must be constantly taken into account. This applies not only to Bitcoin itself, but also, for example, to the use of the block chain, new tax or regulatory regulations and the like.
Technical analysis, on the other hand, is about deriving historical prices and evaluating statistics to make a prediction about the future behavior of a value, in which trends are recognized early and enable the trader to make a timely and profitable entry.
How does trading with the Bitcoin Trader work?
The first question that arises is, of course, how the software actually works. There is practically nothing to do for users who act fully automatically. After registration and capitalization of the trading account, the desired settings for trading can be made, after which the Bitcoin Trader invests independently, and makes exactly as many trades as the user wishes. The software searches the web for relevant price histories and statistics so that the investor does not have to look into the matter himself.
How to open a Bitcoin Trader account
Anyone wishing to use the Bitcoin Trader can access a registration form on the website by scrolling down to register for the Bitcoin Trader. The required information is manageable, the entry of name and e-mail address, a self-chosen password and, in the last step, the cell phone number and country of residence is desired.
Once all details have been entered, a click on “Register Now” is sufficient to complete the trading account. The whole process takes about two minutes. Afterwards, the new customer can log in to the trading account with the login data he/she has specified. Now a first deposit is necessary, which must be at least 250 Euro. Especially beginners are advised not to exceed this amount.
- Simple registration
- Low minimum deposit
- Demo account
- Multiple crypto currency pairs
Capitalization of the trading account is possible with credit and debit cards, among others, and the transmission of data is protected by SSL encryption against access by unauthorized third parties. After the deposit is made, the trading settings can be specified. For example, users can specify how much they want to spend on each position, set a limit per day, enter intended winnings, and much more. The currency pairs to be traded can also be specified. Here it can be specified whether Bitcoin is to be traded against Euro or US Dollar, or one of the other crypto currencies such as Ether or Ripple.
Before real money trading use the Bitcoin Trader in demo mode
As is usual with many online brokers, customers can also make their Bitcoin Trader experience with this trading robot initially in demo mode. With the demo all functions of the software can be used in a real trading environment, but with virtual capital. This way, especially newcomers can familiarize themselves with the handling of the platform and determine how trading with the Bitcoin Trader feels without any risk. The better a user is familiar with the settings, tools and functions of the Bitcoin Trader, the higher are the prospects of profit later when trading. Thus, it is not possible to trade without a learning process. Anyone who feels safe after a while can switch to depositing and trading real money.
Is Bitcoin Trader serious?
The functionality of the software and the possibility of first gaining experience with Bitcoin Trader in demo mode indicate that Bitcoin Trader fraud cannot be blamed. However, the operators of the platform are harmed by the repeated rumors that the software has been recommended by celebrities or presented in well-known TV shows. On closer examination, it turns out that Bitcoin Trader was not recommended either by celebrities or in the context of the television shows mentioned from time to time. Such misleading rumors are circulating not only in Germany, but worldwide, and their starting point is difficult to determine. On the Bitcoin Trader website itself, however, nothing of the sort is claimed. A possible connection can be recognized if one knows that other Bitcoin Trading robots are advertised with celebrities. Thus, international innovation figures were repeatedly said to have shareholdings or interest in Bitcoin Trader, but this is taken from thin air and not launched by Bitcoin Trader.
How the robot performs in the Bitcoin Trader Test
A test run with the software shows that trading with Bitcoin Trader involves the same risks of loss and the same prospects of profit as with other comparable software solutions that enable extensive automation of trading. Anyone trading with very volatile underlying assets such as Bitcoin and other coins should, despite all the platform’s assertions, acquire some basic knowledge of the subject and initially act prudently. Bitcoin Trader seems to be one of the better trading software solutions for automated Bitcoin trading and, with appropriate consideration of the risks, convincing in terms of functionality. What especially beginners should know: There are no miracles in trading, and the egg-laying wool-milk sow has not yet been invented. Trading with forex pairs – because that’s what it’s all about – is risky, and those who take the trouble to get to grips with the subject before any money is invested have better prospects than those who completely and blindly rely on such software.
What speaks for Bitcoin Trader
The platform is very user-friendly in its handling. Differently than with some brokers beginners do not have to bring along previous knowledge from the financial range, regarding crypto currencies or even when programming. It is sufficient to learn the handling of the software in the demo and to activate the Auto-Trade function after entering the desired parameters.
- Intuitive Software
- Demo account
- Precise algorithm
- Individual setting of trading options
According to some users, customer support is very helpful and can be contacted around the clock. According to reports, the team responds very quickly, friendly and efficient. Users should also test this in demo mode to see how the communication works. The demo itself is of course a big plus point and is not at all common with trading robots. Especially for beginners such an opportunity to get to know all functions of the software without any risk is helpful – and should definitely be used. Bitcoin Trader’s algorithm actually proves to be very precise and takes a lot of work off investors’ shoulders. Later corrections of trading settings are still possible if the results are not very convincing.
USE BITCOIN TRADER MOBILE
A mobile app for the Bitcoin Trader is not available in the App Store or on Google Play. However, the software is browser-based anyway and is optimized for display in the common browsers of most mobile devices. It remains to be seen whether a display on the comparatively small screen of the smartphone is satisfactory, but the software can be run in the browser on common tablets, both for Android and iOS-based end devices. Since no major intervention is required when the Auto-Trade function is activated, users can still view the transactions on their trading account on the smartphone.
Make profits with Bitcoin Trader: What users should know
The Bitcoin Trader Test shows that it is possible to make profits with the trading robot. However investors should be clear about the fact that a loss of the assigned capital, as with all speculative financial transactions, is possible. However, precautions can be taken to minimize the risks.
- Only invest what you can bear
- Pay out winnings
- Use information offers
Thus, at least at the beginning, trade should only be on a small scale. The minimum deposit with the Bitcoin Trader is 250 euros. For beginners this is also sufficient initially – after extensive use of the demo account. The amount is not so large that it would tear a huge hole in an investor’s pocket, and thus corresponds to the recommendations of trading professionals never to risk more than one can get over in a pinch. Of course, with such a “small” start, you may not make the profits promised on the website. However, it is possible to make a reasonable estimate of the profit-loss ratio.
First profits on the trading account should then be withdrawn – for this purpose it is sufficient to submit a withdrawal request. Because if more capital is available, the risk of reinvesting more than initially intended increases.
The advice of experts is also very helpful when trading. There are numerous online training videos that explain how to use trading robots. The use of such information offerings cannot be recommended enough, together with the application of what has been learned in the demo account.
Crypto currency trading also without Bitcoin Trader
Who considers rather alternatives, in order to act with Bitcoin and other crypto currencies, has not few possibilities. Because the Bitcoin can be acquired first as plant physically, just like euro or US dollar. One should not forget however that the acquisition of a currency is worthwhile itself only if the courses go upward. If the exchange rate falls, the buyer remains sitting on his crypto money and may have made a loss. Another possibility is to trade currency pairs on crypto currencies via derivatives – thus just like with Bitcoin Trader, but via market access with a Forex and CFD broker. In addition to contracts for differences, futures or certificates can also be traded on Bitcoin, but are less common. All derivatives have in common that the investor does not acquire the crypto currency itself, but only participates in the price development. With flexible CFDs, speculation is possible not only on rising but also on falling prices. In principle the actual purchase of the Bitcoin is recommended rather for investors, who hope for an increase in value of the “digital gold” and think thereby on a long-term basis. Who acts however with derivatives, can profit from the strongly fluctuating course of the Kryptowährungen already within only one stock exchange day and does not have to bind beyond that much capital on a long-term basis.
Invest physically in Bitcoin: Thus it is made
Investors, who hope for a price gain with Bitcoin & CO. and want to actually possess crypto currencies, must make themselves first with the technical requirements familiar. Because some is very different with digital currencies. Whoever acquires and keeps crypto money as a Bitcoin Trader needs above all an electronic purse or wallet. A wallet is what makes the purchase and storage of Bitcoin possible in the first place. However, the Wallet does not really contain “coins” – instead it contains the so-called keys that are necessary for the execution of a payment transaction. Sometimes the Wallet is therefore also compared with a bunch of keys.
The keys are actually just strings. A distinction is made between the public key, which is similar to an account number, the private key used to authorize access and transactions, which is more similar to a PIN, and the “digital signature” – the account statement that shows the balance. All three “keys” are required for a payment transaction. To receive payments, only the public key must be specified.
However, the wallet does not contain information about the owner of the coins, because the block chain works more or less anonymously. And so it is clear why you have to secure your wallet well – unlike with a bank account, you cannot block cards or change accesses. If the wallet is lost or hacked, the coins are gone. Experts therefore recommend not using the convenient cloud-based wallets for larger credit balances, but cold wallets that are not connected to the Internet. These can be USB sticks, but also simply a printout of the codes on paper.
CRYPTO WALLETS FOR THE BITCOIN PURCHASE
If one has then a Wallet, one can buy the first Coins. This is possible at crypto exchanges or market places. The procedures at so-called stock exchanges are particularly convenient. Just as with a broker, a registration is necessary first. This can often be done in several steps and ends with a verification by uploading valid identification documents. Based on the registration level, the tradable volume is determined. If you are fully verified, you can make full use of the exchange, trade large sums of money and also pay by credit card.
Once registration is complete, the user has a trading account with the crypto exchange, through which Bitcoin and other coins can now be bought and sold. This account must first be capitalized. With many stock exchanges no Fiatgeld is accepted, traded is only against strong Coins such as Bitcoin, Ether or Ripple. Before the trade investors must acquire thus first at least one such “leading currency” against euro or US dollar. Also for this there are suitable portals, afterwards the Coins are transferred to the crypto stock exchange. With appropriate assets the user must indicate now, which currency he would like to buy, in which height and for which minimum and maximum prices. The exchange now automatically scans the price history and executes the transaction as soon as the specified parameters are met. The customer does not have to be online all the time and follow the price development. For this comfortable service crypto stock exchanges raise however also appropriate handling charges. There are however more inexpensive solutions.
MARKETPLACES FOR CRYPTO CURRENCIES
The trade with coins and tokens on special crypto-marketplaces is very similar. Here, users can view and compare supply and demand for the desired coins, but cannot have transactions executed fully automatically. Just like at a stock exchange, users must first register. As a registered user, you can then use the search function to find offers or requests that match your desire to buy or sell. With the help of filters the input can be made very precise, afterwards you get a list of results, which is usually still quite long. Every prospective buyer must now comb through this list himself, take a closer look at relevant offers or requests and then initiate the transaction himself. To do this, one has to contact the other party and, if necessary, can also discuss details. This involves more effort for Bitcoin Trader, but the costs for using such crypto-marketplaces are also lower than for the stock exchanges. Another advantage of marketplaces is that usually no money has to be deposited, neither as fiat money nor in the form of coins. The specification of a reference account is completely sufficient and has a great influence on the speed with which a transaction is executed. If both parties have an account in the same country, crypto-buying can be done under the best conditions.
Bitcoin and other currencies trade via derivatives
Not every investor wants to learn about the technical background of the physical purchase of Bitcoin or other coins. Handling a wallet and trading on exchanges and marketplaces requires some preparation. In addition, the capital used for the purchase of coins is fixed for a longer period of time and profits are only possible if prices rise. Due to the still high volatility even of established digital currencies like Bitcoin, a certain optimism is needed. In addition the rank list leaders became in the meantime quite expensive, with the Bitcoin can acquire small investors only subunits. A worthwhile alternative for Bitcoin Trader is trading in derivatives. Here not the underlying base value is acquired, but only speculated on the price development. In the meantime, well-known banks offer certificates on Bitcoin and Bitcoin Futures can also be traded. Particularly popular are contracts for differences on the most important coins.
CRYPTO TRADING WITH CFDS
Contracts for difference, or CFDs for short, are a fairly new financial instrument developed to avoid the mandatory stamp duty on stock transactions in the UK. This is because the underlying asset is not bought and sold. Instead, the investor speculates on the price development – and no longer just on the performance of shares. CFDs can be traded on a wide range of underlying assets in all asset classes. These include forex pairs and also currency pairs where the Kyoto currencies with high market capitalization are traded against a fiat currency, i.e. pairs such as USDBTC or GBPETH. If you buy a Crypto CFD, you have not bought the currency in question, but you are speculating on the course of the price. The profit is the difference between the buy and sell value – hence the name. The special thing about CFDs is that you can speculate not only on rising but also on falling prices. The flexible financial instruments therefore make a profit even during downward trends, if a trader goes short in time. And of course they are also suitable for hedging physical bitcoins.
Another feature of CFDs is the ability to use leverage. In practice, this means that a trader deposits only a portion of the capital for safety, but moves much more. While leverage can be applied to Forex majors with factors of up to 1:30, this is limited to 1:2 for the already very volatile crypto currencies. Trading is done over the counter, via a Forex and CFD broker who provides access to the markets. Due to the increasing interest, more and more brokers are including crypto-CFDs in their trading offer.
Which CFD broker for Bitcoin Trader?
If you are looking for a crypto-broker, there is a considerable range of Forex and CFD brokers online that allow you to trade CFDs on Bitcoin and other digital currencies. A decision is initially difficult, especially for beginners, but comparison portals provide an initial overview and help in selecting a trusted broker. This is because quality, costs and trading offers can vary considerably from provider to provider. Broker comparison portals use numerous criteria, which are examined individually. What is important is regulation by a reputable, preferably European, financial supervisory authority. This in turn ensures that client funds are managed separately, separate from the CFD broker’s assets. Thus, the deposits are protected even in case of insolvency. The trading costs and other conditions should be presented transparently and of course not be set too high. Also the trading offer is checked – besides crypto CFDs, other interesting values should be tradable, so that later on other strategies can be implemented if desired.
If on top of that the broker comes up with a user-friendly trading software, a free demo account and good training offers, one can assume that this is a provider who supports his traders in entering crypto trading to the best of his ability.
Conclusion: Bitcoin traders have numerous options for trading with BTC
Who wants to profit from the value development of the Bitcoin or other Kryptowährungen, has a whole set of possibilities as investors or Trader. These range from the physical purchase of BTCs, for example via stock exchanges and marketplaces, to the trading of various derivatives. Besides futures and certificates, crypto-CFDs are becoming increasingly popular. Contracts for Difference on currency pairs are offered by Forex and CFD brokers. There, users can, in the best case, use free demo accounts and training offers to acquire the basic knowledge of trading. However, most trading is then done manually, unless you have reached the point where you can automate trading using expert advisors via appropriately equipped software.
The Bitcoin Trader trading robot goes one step further. The algorithm promises high precision and potentially astonishing profits for users who switch on the auto trading functionality. In the Bitcoin Trader test, the robot proves to be quite valid, but as is generally the case with speculative financial products, trading should initially be undertaken with due caution and with amounts whose loss the investor might suffer.