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Bitcoin Compass Review 2020: Genuine Trading Robot or Scam?

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Author: Adam Green

Last Updated: September 30, 2020

Research shows that at least 90% of self-proclaimed trading robots out there are fake. It’s therefore prudent to conduct enough due diligence before signing up with any robot. We have done the heavy lifting for you by preparing this comprehensive Bitcoin Compass review.

Our investigation reveals that the Bitcoin Compass App is indeed legit and perhaps highly profitable. But what is it, and how does it work? We will provide the answers to these questions in this review and offer tips to help you succeed with it.

You may find some technical trading terms in this review, but you do not need to understand them to trade with Bitcoin Compass success. Trading with this robot only requires very little manual non-technical input.

Open your account

All trading carries risk.

On this Page:

    Bitcoin Compass: Review Overview!

    This trading robot is not only reportedly highly profitable but is beginner-friendly. You don’t have to be an expert to trade with it successfully. Bitcoin Compass has a supposed daily profitability rate of up to 500%.

    This implies that you can earn up to $1k in profits from a deposit of 250 USD in a single day of trading. Compound at least 80% of the alleged profits and you will become a millionaire in less than a year of trading.

    What is Bitcoin Compass?

    Bitcoin Compass is an online trading platform that trades bitcoin on behalf of users. This means that instead of buying bitcoin traditionally, you registered with the platform and it does the buying and selling for you.

    bitcoin compass navigation screen

    The Bitcoin Compass software speculates on the ups and downs of BTC price against other crypto and fiat through a trading instrument known as a CFD. Consequently, it does not involve the tedious and insecure physical buying and selling of the crypto.

    Moreover, trading volatility means that users can generate profits in both rising and falling prices. As a result, you do not have to worry about falling bitcoin prices when trading with this robot. Bitcoin Compass trades BTC against over 60 crypto and fiat currencies.

    These include popular paper currencies such as USD, GBP, and EUR, and cryptos such as BTC, ETH, XRP, and BCH. These product offerings are provided through Bitcoin Compass partner brokers. Moreover, they are traded at a leverage of up to 5000:1 and hence traders can place big trades with minimal capital. Leverage referred to borrowed capital provided by the broker to help the trader trade bigger positions.

    High leverage increases the size of both profits and losses and hence should be used wisely. Bitcoin Compass offers a comprehensive risk management guide users through the leverage management process.

    How does Bitcoin Compass work?

    There is no technical expertise needed to trade with the Bitcoin Compass app. You only need to register an account and deposit the minimum trading capital.

    The robot does everything else for you and deposits the profit in your account. You can choose to withdraw manually or to have the money automatically deposited in your bank account once a certain balance is achieved. There is also an option to automatically reinvest a certain percentage of the proceeds.

    bitcoin compass performance

    All trading robots, including Bitcoin Compass, operate through specialized robot brokers. The robot conducts trading research and automatically sends the signals to the broker for execution. A robot broker must have advanced systems for instant order execution.

    Failure to execute order instantly can lead to negative slippage and hence losses. Bitcoin Compass applies a strategy known as scalping to generate profits out of small price movements. Scalping trading robots cannot operate without the instant order execution system.

    It’s the broker who places orders in the market and it, therefore, makes sense that they handle all transactions with clients. Bitcoin Compass brokers are safe since they are regulated by reputable regulatory authorities such as FCA, ASIC, FSB, and SEC.

    As mentioned earlier, there are no prerequisites to trading with Bitcoin Compass. You simply need to register and follow the steps below.

    Open your account

    All trading carries risk.

    Register a free trading account

    Bitcoin Compass is among the few top-performing free trading robots. You should grab the opportunity of the free license and immediately register since there is a likelihood of a fee being introduced in the future.

    Registration is simple and fast. You will be asked to accept the robot’s terms and conditions and verify your email and phone number. Bitcoin Compass platforms are encrypted through the RSA protocol and hence foolproof to most forms of cyberattacks.

    The platform is also in line with the EU General Data Protection Measures and hence doesn’t share clients’ information without permission.

    Verify your identity through the partner broker

    You will be matched with a local broker after registration and requested to submit more details and verify identity. Remember that Bitcoin Compass trades through these brokers.

    All brokers regulated in the EU, Australia, and the US must adhere to strict Know Your Customer (KYC) measures. These include ID verification, proof of address, and proof of payment method. You need to upload a scan of your ID for identity verification and a current utility bill with your address printed on top for proof of address.

    The verification process may take up to a day, but you can proceed with the other steps as you wait.

    Deposit at least USD 250 in trading capital

    You should be ready to invest some cash if you are to expect returns from the robot. Bitcoin Compass trading area is only accessible to users with at least USD 250. Deposits happen through the matched local broker and can be through a bank transfer or debit and credit cards.

    Some of the brokers may also allow deposits through Neteller, Skrill, WebMoney, and bitcoin. There are no deposit fees, and it takes a few seconds for the funds to reflect in your trading account.

    Open your account

    All trading carries risk.

    Practice on the Bitcoin Compass demo

    Bitcoin Compass offers a free demo to help users prepare before staking real money. The demo comes with $10,000 in virtual funds and backtests on real market data.

    This allows traders to get real trading experience without having to risk their investment. Accompanying the demo account is a 5-page guide with diagrams explaining the key concepts of trading with the bot.

    Ensure that you study the guide thoroughly and practice your knowledge on the demo before staking real money. At least an hour of demo practice is important before moving to the live account.

    Define your risk profile and go live

    The Bitcoin Compass guide will help you define the level of risk per trade that suits your appetite. You will need to adjust the Stop Loss and Take Profit features according to your risk profile.

    Live trading starts when you click the “Live Trading” button. There is no reason to quit your day job or disrupt your daily schedule to trade with this robot since it runs automatically. You only need above 20 minutes daily to adjust it for trading.

    Did Elon Musk Endorse Bitcoin Compass? 

    Elon Musk, the founder of SpaceX and Tesla, is a big fan of bitcoin and blockchain. He has in the past, disclosed that he has some bitcoin investments.

    But is it true that Elon Musk has endorsed Bitcoin Compass? We have fact-checked the rumours linking him to this robot and found them to be fake. It seems that those spreading them are confusing his interest in bitcoin with Bitcoin Compass.

    Bitcoin Compass is a highly profitable and extremely popular platform. This makes it prone to all manner of news, including celebrity gossip.

    Did Peter Jones Endorse Bitcoin Compass?

    We have also seen social media posts associating Peter Jones with Bitcoin Compass. Peter Jones is a British Entrepreneur and one of the Angel investors on the Dragons Den entrepreneur reality TV show.

    While he has interests in emerging tech, he hasn’t shown any interest in bitcoin as an investment or any of its trading algorithms. Once again, we conclude that the Peter Jones Bitcoin Compass rumour is mere celebrity gossip.

    Is Bitcoin Compass a scam? The verdict!

    We have done rigorous testing on Bitcoin Compass to determine if it’s a legit or scam robot. Learnbonds concludes that it’s legit and perhaps highly profitable.

    This bot is reviewed positively by users with over 5k reviews on TrustPilot and a rating of 4.5/5. The majority of reviews seem happy with its ROI and report that it’s easy to use. You can sign up with this bot through the link below and get back to us with your feedback in the comment section below.

    Open your account

    All trading carries risk.

    FAQs

    What is Bitcoin Compass?

    Bitcoin Compass is an online trading service that trades bitcoin on behalf of users. The platform allegedly uses AI technologies to study the markets and come up with profitable trades.

    How much do I need to invest with Bitcoin Compass?

    You can get started with Bitcoin Compass with as little as USD 250. This amount can grow significantly within days if you follow the provided instructions closely.

    How much profits can Bitcoin Compass generate?

    That will depend on factors such as how much you deposit, how well you follow instructions and the current market conditions. Bitcoin Compass can generate a daily ROI of up to 500% when the market conditions are favourable.

    All trading carries risk. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.
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    Adam Green is an experienced writer and fintech enthusiast. He he worked with LearnBonds.com since 2019 and covers a range of areas including: personal finance, savings, bonds and taxes.