Bitcoin System is a tool that reportedly enables users to profit from crypto volatility. The bot is said to be fully auto and completely beginner-friendly. But is Bitcoin System legit, and is it possible to make money through it?
From the data we have analysed, Bitcoin System appears to be legit. Most users who have reviewed Bitcoin System online confirm its alleged profitability. Moreover, there is a lot of good feedback on its easy to use the platform and a smooth withdrawal process.
Keep reading for more information about Bitcoin System and tips to help you capitalise on all opportunities presented by this bot. Before we get started, it is essential to note that all forms of trading carry significant risk, and hence, you should not deposit what you cannot afford to lose.
Table of Contents
What is Bitcoin System?
Bitcoin System is a computer algorithm that embeds to an MT4 to automatically perform all the functions of a professional bitcoin trader. The algorithm is allegedly coded from the trading strategies used by successful crypto traders. Bitcoin System does not require any special skills or knowledge to use. All that users need to do is to open an account, deposit their trading capital, and go to live trading.
As mentioned earlier, this robot claims to rely on artificial intelligence (AI) to scan the bitcoin market big data and make trading decisions. AI and its subsets of Machine Learning (ML) and Natural Language Processing (NLP) are the two most revered technologies in trading. These technologies make it possible to automate fundamental and technical analysis.
In fundamental analysis, Bitcoin System reads news within microseconds of their announcement. Consequently, it can take advantage of trading opportunities before the markets can respond. News trading also involves monitoring authoritative social media accounts and gleaning tradable insights from the posts.
For instance, if Donald Trump uses his Twitter account to bash cryptos, the robot reads the post almost instantly and predicts how the markets will react. Remember that Bitcoin System allegedly makes money on both the rising and falling markets.
How does Bitcoin System work?
As mentioned earlier, Bitcoin System is a computer algorithm that embeds to a trading platform such as the MT4 to automatically conduct the trading functions of a professional trader. This means that this robot must operate in partnership with a broker. When the Bitcoin System robot conducts trading research, it relays the derived insights to the broker for execution.
Robot brokers have unique order execution systems that ensure instant execution hence avoiding slippage. Other roles of the robot broker include receiving deposits, facilitating financial transactions and offering leverage. Robots are not financial institutions and therefore, are not allowed by law to accept deposits. When you deposit Bitcoin System, the money goes straight to the underlying partner broker.
Bitcoin System robot brokers provide leverage of up to 1:1000. This means that users can bet on trades’ worth up to one thousand times their deposit. For instance, an account with a deposit of $250 can place up to $250k. While high leverage means high alleged profitability, it can also lead to devastating losses. This explains why Learnbonds insist that you only deposit a trading capital that you can afford to lose.
Is Bitcoin System a scam?
From the great reviews, Bitcoin System appears to be legit. This bitcoin bot has alleged profitability of up to $2k per week from a deposit of $250. Most individual consumer reviews on sites such as TrustPilot claim high profitability. Bitcoin System also comes at a significant level of risk, given that it trades on high leverage. We did find a few complaints about people who have lost money trading with this robot.
We did a demo test on Bitcoin System and found it to be amazingly easy to use. Their web-trader is easy to navigate and responds fast. Moreover, their customer service responds almost instantly to calls and live chat. However, inquiries through emails can take several days to get a response.
Bitcoin System also takes user privacy and safety seriously. Their website has proper encryption to ensure that any data submitted through it is safe. Appropriate encryption is the first step in ensuring billing and personal information safety. Bitcoin System also requires its users to adhere to a proper password protection policy. This is important given that nearly all cyberattacks begin with a weak password.
If you decide to test Bitcoin System, we suggest that you begin with a deposit of $250. Starting with little capital will give you the peace of mind to test what works and grow your trading account gradually.
How to register with Bitcoin System
Registering a trading account with Bitcoin System is a breeze. All you have to do is submit the required details, verify identity, deposit $250 and click the trade now button. As mentioned earlier, Bitcoin System is 100% automatic and hence does not require any skill to use. A closer look at users feedback shows that most people who use this bot have no prior experience in crypto trading.
Bitcoin System is only available in countries where it has a regulated broker. You can try the registration process here. Read our review of Bitcoin Circuit if this robot is not available in your country.
Here is a detailed step by step registration process with Bitcoin System.
STEP ONE: Register a free account
Visit the Bitcoin System homepage and fill the registration form as instructed. The details you need to submit during this stage include your name, email, and phone number. You will be required to verify your phone number via SMS and email via a link to proceed. The registration process should not take you more than 15 minutes.
Bitcoin System applies military level data protection measures to safeguard users’ privacy. We can confirm that their website is SSL protected and SiteLock protects their database. Moreover, they ensure that users adhere to strict password protection measures. As mentioned earlier, this is a paramount measure given that nearly 90% of all cyberattacks begin with a weak password.
STEP TWO: ID Verification and proof of address
After registration, you are redirected to the matched broker where you are asked to provide more details and verify identity. As mentioned earlier, Bitcoin System relies on robot-brokers to handle transactions and execute trades. These brokers are a bit different from the traditional ones given that they provide extremely high leverage and have advanced trading systems to ensure speedy execution.
All brokers are required by regulators to adhere to strict Know Your Customer (KYC) measures which include government ID check and proof of address confirmation. KYC measures aim to prevent financial crime, including money laundering. Bitcoin System robot brokers are well regulated and hence must take all their users through the ID verification process.
Proper regulation is a significant advantage on the side of the user given that it is an assurance that their money can never get lost even in the event of the broker going bust. Regulators require brokers to segregate deposits and report how they use them. Deposit segregation ensures that traders’ money is only used for the intended purpose.
STEP THREE: Deposit your trading capital
After ID verification, you can now deposit the required minimum capital to start trading. Bitcoin System requires a minimum capital deposit of $250. You deposit through wire transfer, debit and credit cards, major e-wallets such as Skrill and Neteller, and Bitcoin. It takes a few seconds for deposits to reflect in a trader’s account.
As mentioned earlier, Bitcoin System applies necessary cybersecurity measures to ensure that users’ data, including billing details, is safe. Moreover, they do not store personal data beyond its intended use. Bitcoin System is compliant to the EU General Data Protection Regulation.
STEP FOUR: Trade demo
The Bitcoin System demo account is for helping you get familiar with the real platform before live trading. It is advisable that you trade with this platform before going to the real one. While Bitcoin System trades fully automatically, it does require users to define the level of risk they are willing to risk per trade.
The demo account should help you try different levels and determine what works best for you. Learnbonds recommends that you do not risk more than 10% of your account per trade. There is a high likelihood that you will blow your trading account if you risk more. You can leave the risk settings at default since it comes set at 8%.
STEP FIVE: Go live
Live trading with Bitcoin System is quite straightforward. The only thing you need to do after defining risk is to click the live button. Live trading should take at least 8 hours per day. Moreover, you need at most 20 minutes per day to monitor your account and withdraw or reinvest earnings.
The best time to trade with Bitcoin System is when it is daytime in New York. This is the time when the markets are open in Wall Street, and it is when bitcoin is most volatile. The volatility is driven by the many bitcoin-related derivatives traded on NYSE. Bitcoin System allegedly makes profits during periods of high volatility.
All trading carries risk
How to make the most out of Bitcoin System
You can make the most out of Bitcoin System by following the tips below. Please note that we have not done a live test on this bot and hence can’t guarantee anything. The tips below are derived from feedback from users.
- Follow bitcoin news – You need to keep up to date with bitcoin news to know when high volatility is expected. Bitcoin System alleged profitability is highly dependent on volatility.
- Trade the NYSE time – Determine when the markets are open on the New York Stock Exchange and let the bot run them. The bitcoin derivatives traded on this bourse are said to be a key driver of bitcoin volatility.
- Start small – A deposit of $250 is the best place to start. Starting with a lot of money may cause anxiety hence making you stop trading sessions prematurely. You can add the value of your account by reinvesting all your profits. Bitcoin System
- Get a trading buddy – You are likely to develop good trading behaviour if you have a person to compete with.
Is Bitcoin System legit? Final word!
Bitcoin System has a lot of positive reviews online. Those who have tried it report that it performs consistently is easy to use, and have an excellent customer service. We have also determined that users can easily withdraw their money from this robot. Bitcoin System, therefore, appears to be legit.
Is Bitcoin System trustworthy?
From our review, Bitcoin System appears to be trustworthy. You can try it with a deposit of $250 and get back to us with your results.
How much do I need to trade with Bitcoin System?
A deposit of $250 is enough to start trading with this bot. You can always grow your account by ploughing back profits.
How much can I make with Bitcoin System?
Bitcoin System alleges to make up to $2k per week from a deposit of $250. We cannot guarantee that you will make this amount because we have not done a live test on this robot. However, reviews from other users appear to confirm the alleged profitability.
How do I withdraw money from Bitcoin System?
Fill the withdraw request form and wait for up to 24 hours for your funds to reflect in your bank account.