Bitcoin Formula Review – Scam or Legit?

Business2Community is not affiliated with any of the Bitcoin robots featured on this page. We only facilitate traffic to these platforms. Please be aware that trading with crypto robots carries significant risk. There is no guarantee of a return on investment, and users should proceed with caution and conduct their own research before engaging in any trading activities.

Bitcoin Formula is a new crypto trading platform that claims to provide users with a “winning formula” consisting of a personal account manager and autonomous trading tools. The platform has many similarities with platforms we have reviewed earlier and claims a win rate of 80%.

Is Bitcoin Formula a scam however? This Bitcoin Formula review explores this question while assessing the range of features reportedly offered by the Bitcoin Formula platform.

What is Bitcoin Formula?

Bitcoin Formula is a crypto trading system that claims to use a combination of human-assisted and autonomous trading facilities to make investing digital assets easier for traders of all levels. While the platform by itself hasn’t expanded upon its features, third-party reviews have stated that algorithmic trading facilities are also available on the website.

The site claims to use automated crypto trading tools to “transform” a trader from “rags to riches“. Supposedly, these tools allow users to be one step ahead of others and predict crypto prices with a high degree of precision, making successful trades approximately 80% of the time.

Bitcoin Formula claims to primarily support over 75 Bitcoin CFDs, including BTC/USD, BTC/EUR, and more. We also found that it also claims to support crypto assets like Bitcoin Cash, Litecoin, Ethereum, Dash, Binance Coin, Cardano, and Ripple. The platform also claims to use “automated projections” to make crypto price predictions during live trading.

These facilities, while sounding enticing, don’t have any particular evidence to back them up. There is no backtesting information that proves the win rate of this platform, which goes in line with the general lack of information available about or on the website.

Therefore, we recommend that you exercise caution when trading on this platform, and only invest what you can afford to lose.

Bitcoin Formula Pros and Cons

Here are the pros and cons of Bitcoin Formula to bear in mind:

Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.

How does Bitcoin Formula Work?

Bitcoin Formula claims to use a combination of a Bitcoin robot and a personal account manager to help investors trade better. The former facility turns on after the user deposits the amount.

According to the website, the trading system, after being turned on, uses its proprietary tools to scan the market and predict the asset’s direction on the price chart. And when market conditions are conducive, which means there is buying opportunity, the system makes a purchase.

And once the same asset hits intraday peaks, Bitcoin Formula claims to sell the token, transferring the amount into the user’s trading account.

But the site claims that investors don’t need only depend on this tool to invest in crypto. A manual trading facility is also available, for which Bitcoin Formula assigns an account manager to investors for assistance.

The platform claims that this “human-assisted” approach allows users to invest in crypto after considering the sentimental and technical factors. Crypto trading is not linear, and social media has a lot of impact on the direction a crypto asset might head to. In that sense, an assistant can help.

That said, there is no information about how much the assistant would be involved during trading – an important factor to consider if one wants to make unbiased investment decisions. Therefore, we recommend doing independent testing of the platform before trying it out.

Bitcoin Formula Key Features

Listed below are the key features that Bitcoin Formula claims it possesses.

Demo Trading Account

Investors don’t consider outright investing on a platform they have just gotten into. They need to ensure that everything works as advertised. For that, Bitcoin Formula claims to offer a formulaic demo trading account. However, accessing this feature is not free of cost, as a $250 minimum deposit requirement is necessary to access this or any other feature that Bitcoin Formula says that it offers.

Trade Monitoring

The autonomous trading system that Bitcoin Formula says it implements uses historical data of all the crypto trades. According to the content given on the site, this data is fed into the crypto trading bot to teach it to make informed investment decisions on an investor’s behalf.

Customer Support

Customer support is readily available to all registered users – according to the website. Bitcoin Formula also claims that this customer support is available in many languages to help users find quick resolutions to their issues.

Low Fees

Bitcoin Formula claims to offer low fees on all trading activities. It assures that users would only need to pay the lowest fee possible – likely zero – in order to access any trading facilities available. But in order to know about the rates, users must first contact the customer support team.

Support for Multiple Cryptocurrencies

While the advertising copy of Bitcoin Formula primarily focuses on Bitcoin trading, the site also claims that Ethereum, Bitcoin Cash, Litecoin, Binance Coin, Dash, Ripple, and Cardano are also available. That feature allows users to hedge market risks by diversifying their investments.

Bitcoin Formula Account Fees

Bitcoin Formula states that it only charges a low fee for the services it offers. However, not much has been mentioned on the platform about the charges other than the statement that the fee is low. To know about the charges, investors must get in touch with the customer support team. While some third-party sites have asserted that there are no charges for withdrawing or depositing, we recommend checking with the support team to get the correct answer.

Bitcoin Formula Minimum Deposit

Bitcoin Formula only makes its facilities accessible to investors who have deposited the minimum amount – which is $250. Some consider it a hefty amount to invest, especially on a website with so little information available about it online. But if the platform does offer all the facilities as advertised, then this deposit is a steal. But investors must still be careful and only invest larger amounts after they are satisfied with the returns.

Is Bitcoin Formula a Scam?

On the one hand, the Bitcoin Formula platform looks and sounds appealing. The addition of a live Bitcoin price chart gives people up to date information about the Bitcoin price chart while they are creating an account. The site also has a simple registration process. With no unnecessary roadblocks or KYC requirements, privacy-conscious users may have a reason to pick this platform.

On the other hand, however, there are many things on Bitcoin Formula that we can consider red flags. The site’s homepage, for instance, is similar to many others, such as Bitcoin Investor. Also, the information available on the platform is vague at best. Additionally, while it mentions that it offers advanced trading tools to make Bitcoin investment simpler, there is no information available about the types of trading tools it is referring to.

This problem is further highlighted by the fact that we can’t access this site without depositing the minimum required amount.

Considering these facts, we can’t state whether Bitcoin Formula is legitimate trading platform or a scam. If investors still feel inclined to invest with this site, they must do so after a careful assessment of their risk tolerance.

Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.

Bitcoin Formula Customer Support

Bitcoin Formula does offer customer support – but only to those who have created an account. That facility enables users to reach out to the support team any time they want through email, live chat, or call.

Bitcoin Formula Compatible Devices

We opened the official website on multiple devices, including desktops, laptops, and Apple and Android phones. We even tested the site on Tablets. And our conclusion is that the official page works well on all of them. The icons were visible, and it was easy to sign up.

How to Use Bitcoin Formula?

Here are the steps to start using Bitcoin Formula.

Step 1 – Go to Bitcoin Formula

Visit Bitcoin Formula’s official website and start filling out the sign-up form. Enter your name, email, and phone number. Consider entering a burner number if you’d rather not receive a phone call.

Step 2 – Deposit the Minimum Amount

After creating your account, go to the deposit page and use one of the listed methods to deposit $250, which is your initial deposit, to start trading.

Step 3 – Start Trading

Once the account is funded, you can access the trading features available on Bitcoin Formula. However, before jumping into live trading, we highly recommend testing this platform’s demo account to check the returns.

How to Delete a Bitcoin Formula Account

Bitcoin Formula says nothing about whether someone can delete their account. Some say that reaching out to the account manager might fix that issue. But investors must themselves try to check the platform for a delete-account option first.

Are Celebrities Endorsing Bitcoin Formula

Some online reviews have associated Bitcoin Formula’s name with multiple celebrities. Names like Elon Musk and Jeff Bezos have come up regularly. However, there is no proof that these rumors are true.

Who are the Founders of Bitcoin Formula

Bitcoin Formula hasn’t mentioned on its official website about who the founders of the website are. We also couldn’t find any information about them on the social media sites. It is likely that the founders have chosen to remain anonymous. While anonymity is nothing new, it should be noted that new crypto traders look for more transparency.

Bitcoin Formula Payment Methods

Here are the payment methods you can use to deposit the minimum amount on Bitcoin Formula.

1. Credit card
2. Debit card
3. Bank transfer
4. PayPal
5. Crypto payments

The Verdict

Bitcoin Formula makes many claims about the efficacy of its trading technologies. It claims to offer an 80% win rate through its selection of autonomous trading tools. It also claims to offer the aid of an account manager with the trading process. The site’s sign-up process is simple, and it is accessible through multiple devices.

However, there is not much available when it comes to information on this platform. No one is talking about it online, and its online reviews are rare. Bitcoin Formula has also not been upfront about its founders. Therefore, we recommend caution when using this crypto trading platform.

For some alternatives to Bitcoin Formula, see our recently updated guide to AI crypto projects.

Cryptocurrencies are unregulated. Trading with unregulated brokers will not qualify for investor protection.

FAQs