Bitcoin Digital Review 2021: Is it a Legitimate Platform?

Bitcoin Digital Review 2021: Is it a Legitimate Platform?

Cryptocurrencies such as Bitcoin operate in a highly volatile environment. As such, more and more people turn to automated trading systems like Bitcoin Digital.

Most people are attracted to digital assets for that very volatility, and of course, the view to buy low and sell high is nothing new in the trading world.

If you want to embark on Bitcoin trading as a complete novice, you may be considering utilizing the Bitcoin Digital app. Thus cutting out the need to learn trading jargon and technical analysis.

This platform claims to offer clients a 60% daily profitability rate. Bitcoin Digital also states that clients can earn “3 times their invested capital”.

In this Bitcoin Digital review, we cover the ins and outs of the platform, including its claimed profitability, and how to sign up today if you decide to proceed.

An Overview of Bitcoin Digital Review

We can start by confirming that a simple internet search of Bitcoin Digital found that it has many reviews in the public domain – both good and bad. 

Some users reported finding the Bitcoin Digital app very user-friendly and rated the customer service as top-notch. Not only do some users rate the platform highly, but many appreciate that it’s free to use.

On the other hand, there are also many bad Bitcoin Digital reviews in the online space. This does make it difficult to know whether or not the general consensus is positive or negative about the app.

Nevertheless, our review found that although it is free to register with Bitcoin Digital, you must deposit $250 via a partnered broker. Additionally, we found that the algorithmic software links up with more than 15 brokers.

The aforementioned brokers look after all transactions, and also action your orders as and when instructed. The reason the brokers play such a big part in the Bitcoin Digital experience is that cryptocurrencies are unregulated.

As a result, the platform teams up with regulated brokers, to ensure a safe trading space for everyone involved. This means that you have the security of Bitcoin Digital’s own RSA encryption and clever stand-by cyber response unit.

Furthermore, you have the security of the regulatory bodies watching over Bitcoin Digital’s partnered brokers.

We are talking about security here, but it’s also important to be unblinkered about the risks involved with trading digital currencies. A good place to start is to never risk more than you can realistically afford.

Bitcoin Digital: What is it?

If you are a newbie to automatic Bitcoin trading, you are no doubt still a little perplexed about what exactly Bitcoin Digital is.

In a nutshell, Bitcoin Digital enables people to trade passively. This is achieved by using underlying algorithms that utilize Artificial Intelligence (AI) to scrutinize the markets.

The information and data that the AI software gathers on the markets will provide valuable information and insight into the possible future direction of Bitcoin.

The software used by Bitcoin Digital is capable of analyzing historical price charts as well as spotting price patterns that may repeat further down the line.

Unlike humans, algorithms are able to scrutinize technical analysis within milliseconds, looking for trading opportunities. Machine Learning (ML) is used to perform fundamental analysis, thus scanning all relevant news stories for useful insight.

Bearing in mind it usually takes most people months, if not years to fully have a grasp on technical analysis. As such, the app could be suitable for newbies. 

Bitcoin Digital states that its robot is highly profitable, and there are reviews even claiming to have joined the ‘millionaires club’ thanks to the automated trading software. How authentic these claims are, remains to be seen.

The platform can reportedly create more than ten trades in less than a second and is able to offer leverage on your cryptocurrency positions thanks to the aforementioned broker partnership.

Bitcoin Digital: Can I Make Money?

The big question is, are you able to make any real money from trading via the Bitcoin Digital bot? The platform says that it’s well within the realms of possibility to increase your investment by up to 2 or 3 times.

These supposed gains are achieved by scalping, often with high leverage of up to 1:500. Leverage can be viewed as a loan from the Bitcoin Digital partnered broker.

In a nutshell, this means that if you had an account balance of US$1,000, you could trade with US$500k.

For those unaware, one should proceed with caution using such high leverage. If your trade doesn’t go the way you expect, those magnified profits soon become magnified losses. The worst-case for most traders is that this results in account liquidation.

It has to be said that Bitcoin Digital claims to offer clients risk control tools such as ‘take profit’, ‘stop loss’, and ‘negative balance protection’. If you are unsure how to use these tools you will find a handy video tutorial in the ‘resource’ section on the platform.

With the aim of getting the best results possible, Bitcoin Digital also utilizes ‘Natural Language Processing’, which is a subset of AI. This makes it possible for the software to scan such a vast amount of internet-based news at lightning speed, cutting out any noise.

According to the Bitcoin Digital website, this is what enables users to make such impressive profits. The platform states that the bot is a volatility trading system and thus – utilizes CFDs (Contract for Difference).

To clear the mist, CFDs are tasked with tracking the real-world price movements of any asset, in this case – Bitcoin. If the price of the digital coins rises, so will the CFD, and the same vice versa.

Most importantly, a CFD is a leveraged instrument. As we said earlier – exercise caution. The cryptocurrency market is extremely volatile and your capital is at risk.

Bitcoin Digital and Mainstream Media

Much like cryptocurrencies in general, Bitcoin Digital has received quite a lot of attention in the press. In terms of BTC internet searches, Bitcoin Digital claims to rank highly.

We do advise to take such claims with a pinch of salt – meaning there is nothing quite like conducting your own research. Although having said that, the trading system boasts over 50,00 TrustPilot reviews, so you might want to check those out for yourself.

We mentioned taking such bold claims lightly with good reason. Whilst Bitcoin Digital has received lots of seemingly genuine reviews – there has also been a great deal of fake news.

Bitcoin Digital and Celebrity Gossip

One of the most recent pieces of fake news was that Bitcoin Digital had been featured on a popular daytime TV show in the UK.

That TV show is called This Morning, and the rumors are completely unfounded. Whilst the host Holly Willoughby did mention Bitcoin in a piece on the show, there was no mention or endorsement of Bitcoin Digital.

The truth is that neither of This Morning’s TV hosts has invested in, or traded Bitcoin, via a Bitcoin Digital robot at least. The internet rumors were likely created as click-bait.

Refreshingly, Bitcoin Digital mentions the unfounded rumors on its website stating ‘we have never been featured in the show’.

However, this goes to show that you shouldn’t believe everything you read on the internet. This also further illustrates the importance of doing your homework – before embarking on any new financial adventure.

Open a Bitcoin Digital Account: 5-Step Walkthrough

Before you can begin to utilize the Bitcoin Digital software for your cryptocurrency endeavors – you need to sign up.

If you don’t know where to start – below you will see a 5-step walkthrough of how to register with Bitcoin Digital.

  1. Head over to the Bitcoin Digital website and look for ‘create an account’
  2. Fill in your name, email address, and telephone number – click ‘register now’
  3. Deposit a minimum of US$250 into your trading account via one of the partnered brokers
  4. Try out a Bitcoin Digital demo account to learn the ropes until you feel confident enough to ‘go live’
  5. Optimize the trading and risk settings to suit – once happy you can go live

Bitcoin Digital Review 2021: Conclusion

This Bitcoin Digital review found that whilst the platform does make some outlandish claims – there are both good and bad reviews on the internet.

For example, some users report a pleasant customer service experience and most seem happy with the passive trading experience at the platform. Similarly, some users claim that the system didn’t quite make them as much as they had hoped. 

Furthermore, you have the safety offered by regulatory bodies that Bitcoin Digital brokers are licensed by. Such organizations are tasked with keeping an eye on the brokers they issue licenses to. In terms of data protection, Bitcoin Digital uses state-of-the-art encryption tech.

All being said, it is of utmost importance that you perform your own in-depth research before signing up with Bitcoin Digital. Tread very carefully and remember that there are never any guarantees in this game.

 

Try Bitcoin Digital Today

Our Rating

bitcoin digital logo
  • Takes advantage of artificial intelligence to bet on small price movements
  • Leverage of up to 5000:1 available through CFDs
  • Get started with as little as $/£250
  • Good reviews on Trustpilot and other platforms
bitcoin digital logo
All trading carries risk.

 

FAQs

What minimum do I need to deposit at Bitcoin Digital?

You can get started at Bitcoin Digital from US$250.

How am I able to cash out my gains at Bitcoin Digital?

To withdraw your profits, simply head over to the Bitcoin Digital website, and fill in a withdrawal request form. The platform states that this usually takes 2 or 3 hours to reach your account.

Is Bitcoin Digital legitimate or a scam?

Our review found that Bitcoin Digital is a legitimate company and its partnered brokers are regulated by various reputable bodies.

Author : Samantha Forlow

Samantha Forlow

Samantha is a UK-based researcher and writer that specializes in all-things finance. This covers everything from traditional equity and fund investments, to forex and CFD trading. Samantha has been writing financial-based content for several years and has a variety of publications in the online domain. Crucially, she is able to explain complex financial subjects in a newbie-friendly manner.