Introduction About Bitcoin Bank App
Table of Contents
When Bitcoin was first introduced it was seen as a test for a new idea that most people were not interested in. We already had safe investments to put our money in such as gold, silver, and real estate, why would we risk our hard-earned money on a new, untested technology that promised great returns? The same people who asked themselves this question were later telling themselves they should have bought as much Bitcoin as they would have been able to get their hands. This is because just one Bitcoin today is worth more than ten thousand dollars mark and as of today, the time of this writing it is worth more than eleven thousand. If a person would have bought just one of these coins the return on their investment would have been higher than anything else. The reason why most people didn’t buy Bitcoin back then was that it wasn’t understood and it still isn’t. This is why we have computers and algorithms like Bitcoin bank to ease the burden. For that reason, in this article, we will be discussing the topic of the Bitcoin bank software to show you why it’s important in helping you create income and investments through Bitcoin. We will be going into detail describing what the software is, the common misconceptions people have, and in the end, we will list some of the most commonly asked questions about the software.
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What is Bitcoin Bank?
The Bitcoin bank software is a robot, an algorithm, whose sole purpose is to automate your cryptocurrencies trading. Of course, it isn’t one hundred percent automated since you still have to set your parameters and log in to your account to operate the software. It uses artificial intelligence (A.I.) to achieve this feat because it is extremely difficult for the human brain to understand cryptocurrency and even harder for one brain to learn everything it needs. If you’re not familiar with artificial intelligence think of it as a super-intelligent brain that can calculate thousands of data points in seconds. Due to how amazing all of this sounds many people ask themselves whether the software is real and can provide the results. In the description, the creators of the platform claim that within the first two months of its launch the software had already profited more than two million dollars. If you’ve ever watched the movie Limitless, this is like when the main character takes the limitless pill and makes stock picks in his mind.
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Since this article is a review of the software we will now list the pros and cons you should be aware of.
Pros
-Innovative algorithm technology
-Secure data of the highest quality
-The intelligent use of leverage
-No fees or hidden charges
Cons
-Use of leverage creates more risk
-A limited selection of cryptocurrencies
-Advertisements can be misleading
On the positive side, we have the innovative use of algorithm technology. The people who sent the first rocket to space had to do all of their calculations by hand on hundreds and hundreds of pages. Current technology allows anyone to use an algorithm to do thousands of calculations. This software claims it can do its magic .01 seconds faster than the current market. That may not seem like a lot, but when it comes to high-frequency trading (HFT), it is a huge advantage. Due to its ability to find data it also makes sure that the data is secure and of high quality. This prevents any misinformation from skewing a trade. The software allows you to use leverage to increase the profit potential and there are no fees or hidden charges.
On the negative side the use of leverage creates more risk but whoever is trading cryptocurrencies to make a profit will understand the risk involved. Another downside is the limited selection of cryptocurrencies available to trade. This can be a downer for professional cryptocurrency traders, but for someone who just wants to make some money, it shouldn’t be that big of a deal. More options tend to overwhelm the mind anyway. The last con is the information given by certain advertisers can be misleading so you will have to find out on your own by using the software.
How Does Bitcoin Bank App Work
So how does it work and why has it been labeled a scam or gimmick? When a tool promises to make you wealthy easily and is endorsed by fake celebrities who claim to have become rich quickly, the tool will be seen as dangerous or a fake. Most of the people who are attracted by fake celebrities or get rich quick schemes to tend to lose money because they’re not really in it for the long term. These people tend to move from one thing to another because all they want is to make some money the fastest way possible. This tool will not make you rich quickly because there isn’t such a thing. If you’re intelligent enough to use it to HELP you make more money then over the long haul you may become as wealthy as you want. It is simply a tool and it works.
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When the creator of a software program builds something that can help a lot of people
he or she will do anything possible to put it in front of as many viewers as possible. Sometimes they pay marketing firms to do this for them and so the software can get a bad rap for claiming something that it hasn’t done. For example, you will find on the website claims of awards being won, but this is more than likely a tactic used by the marketers of the software to elevate its brand image. You have to do your research just like you have to do your research on any investments you are thinking of making. Does the software work? Yes. Can you lose money? Of course.
Is Bitcoin Bank Trading Robot a scam or not?
Now that we got those concerns out of the way and discussed the positive traits of the software we’ll explain how it works. If you’ve never placed a trade or even had a brokerage account then you need to go and learn that before you continue reading. It is essential that someone is familiar first with trading software and terminologies to flatten the learning curve. I assume that most of you will already be familiar with the terminology or else you wouldn’t be reading this article.
Bitcoin bank software is very similar to other trading platforms. It shows you which positions you are currently holding. If you want to look at your profit and losses all you have to do is scroll to the history section. When you create an account everything will be secured with SSL encryption. When you’ve created and confirmed your account the software will allow you to select one of the brokers they are affiliated with and that is regulated so you know it is legitimate. The minimum amount of money you will need to fund the account is two hundred and fifty dollars which are enough for someone to risk. If for any reason you’re not ready to fund your account or want to see how it works exactly they allow you to use the demo version. This demo version is geared towards getting you comfortable with the software. When you finally fund the account you have the ability to begin trading immediately. The cryptocurrency markets are live 24/7 so the robot can essentially work for you day and night.
The Bitcoin bank is completely automated. When you create an account the software will connect to your existing broker in order for it to be able to trade for you. The back end of the software is already setup in a way that the artificial intelligence robot will communicate with other robots who have cryptocurrencies in their own platforms. In a sense, Bitcoin bank is an intermediary between cryptocurrency websites where it gains information and between your broker so it can place trades. As the robot analyzes data and communicates with other crypto robots it will simultaneously send signals for when and what to trade for your broker to place the trades. All of this is done in seconds or fractions of a second so that you never miss an opportunity. That is why it’s so valuable because the human brain, eye, and hand coordination are far to slow to ever catch these opportunities. On top of that, we live busy lifestyles while the robot’s main purpose is to help you make money.
If you are a beginner investor
Even though this technology can assist you by doing its calculations and research autonomously you can’t just put all of your faith in it. Most beginner investors lose money because they don’t understand what they’re doing or what they’re investing in. This is like having a submarine that can drive itself, but you give it the wrong directions and it takes you to the deepest parts of the ocean where it is not built to go. If you know nothing about trading please make sure to get educated on this. Learn the different types of markets because trading cryptocurrencies is one of the most complex investments there is. Understand the different types of cryptocurrencies and the platforms they use. Start with a paper trading app like Invstr or create a TDAmeritrade account where you can trade stocks without using your own money. Also, even though you may have a million dollars to invest and are ready to make it big, don’t play with all of it. Use and invest only the amount that you are willing to lose if anything were to go wrong.
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Conclusion
In conclusion in this article, we discussed the topic of cryptocurrency trading using the Bitcoin bank. The name of the software is geared towards Bitcoin, but there is a selection of other well-known cryptocurrencies. This software is an artificial intelligence algorithm that can gather and analyze information in fractions of a second to make a logical decision on what you should trade. It also removes the decision-making on your end because humans tend to use less logic and more emotion when it comes to how they use their money. This software is not perfect by any means and if you don’t know what you’re doing you can still lose money. It isn’t that the robot can make a mistake, but the sources from where it gets its data can be misleading and skew the trade. There is also a risk because you’re using leverage and when one uses leverage they can make more money, but also owe more money to the broker if a trade doesn’t go well. Like we mentioned previously, use this software as a tool to enhance your capabilities since you shouldn’t be relying too much on one thing. Happy trading and may you reach all of your goals and aspirations.
Commonly Asked Questions
Since every reader will have additional questions before they make a final decision on using the software we have decided to add this section after you have read the entire article.
Which broker can I use with the Bitcoin bank software?
Some of the most recognized brokers are UFX and 24option, but you’re not limited to these. You can use a lot of the other recognized brokers as long as they are regulated.
You mentioned there’s a limited amount of cryptocurrencies, which ones are they?
Because the software is fairly new there are only four cryptocurrencies available which include Bitcoin, EOS, Litecoin, and Ethereum. In reality, these are the most used and well-known but the platform is working on getting others to give users a wider selection.
Is the software available on the web and an app?
The developers are working on the app so currently, there is only a desktop version. The current solution to using the software on your phone is by logging in through your phone’s internet or wifi connection.
Can I place my trades and give the robot commands to buy and sell?
Yes. The software is meant to be automated to remove as much thinking and worry from you as possible, but we understand that you will also want to make your own decisions. This is why it allows you to place long or short positions and also execute trades when a cryptocurrency reaches your desired buy or sell point.
How do I deposit or withdraw funds?
Unlike other online platforms, this software doesn’t place restrictions on the amounts you can withdraw. You can deposit with Neteller, Skrill, Visa, or Mastercard. The profits you make will be sent to your bank account after you’ve connected it to the software.
Is the application process long or specific about anything?
The verification and registration process is simple and free. The only thing you will have to see is if it is available in your country.
Finally, we hope this article has been useful to you and that you are ready to begin trading in the cryptocurrency markets. Get familiar with the terms so you can understand the language. Most important of all, know that if you fail at something there is always another opportunity to make it happen, the next time.
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