Bitcoin Prime Review – Scam or Legit?

Bitcoin Prime is a Bitcoin trading robot that uses sophisticated AI algorithms to trade automatically on your behalf. The platform claims to have a 90% win rate and is completely free to use – you just pay a small commission on your profitable trades.

So, is this crypto trading platform worth your time? In our Bitcoin Prime review, we’ll cover everything you need to know about trading with a crypto robot in 2023 and reveal whether we were able to verify the lofty claims made by the platform.

Bitcoin Prime Summary

According to the Bitcoin Prime website this is an overview of this crypto trading bot:

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

What is Bitcoin Prime?

Are you looking to buy cryptocurrency passively? Bitcoin Prime is a crypto robot. It’s a trading service that automatically monitors the cryptocurrency markets for trading opportunities. When it finds potentially profitable setups, Bitcoin Prime places a trade on your behalf. According to the website, up to 90% of the trades that Bitcoin Prime places are closed for a profit in optimal market conditions.

The success of Bitcoin Prime is dependent on its AI algorithm, which is capable of spotting price patterns and acting on them. While Bitcoin Prime doesn’t reveal the details of its algorithm, it looks for many of the tried and true technical patterns that traders around the world rely on to make money.

Bitcoin Prime is completely free to use. All you need to get started is a $250 initial deposit. The platform makes money by charging a 2% commission on profitable accounts. Until your trading account makes money, however, you won’t pay any commission.

Bitcoin Prime Pros & Cons

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

How Does Bitcoin Prime Work?

Bitcoin Prime works by tracking price movements in 14 different cryptocurrencies: Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Bitcoin Gold, ZCash, Dash, Ethereum Classic, Cardano, IOTA, EOS, NEO, Binance Coin, and Ripple. So, there’s a decent amount of popular cryptocurrencies that Bitcoin Prime claims to be able to successfully trade.

When the algorithm spots a price pattern that it recognizes, it will trigger a trade. Bitcoin Prime will enter an order to your brokerage account, and then monitor the trade as it develops. When it’s time to exit the position, Bitcoin Prime will give the order to do so and all funds – including any profits – will be returned to your account (less a 2% commission for profitable accounts).

Bitcoin Prime claims to trade 24 hours a day, 7 days a week.

One of the nice things about Bitcoin Prime is that it provides plenty of educational resources as well as a demo account so you can learn how the algorithm works. While there’s not much work required to trade with Bitcoin Prime, you will need to optimize the algorithm’s parameters to be successful in different market conditions. 

Importantly, your funds are stored with a third-party broker. Bitcoin Prime can issue orders to execute trades using the funds in your account, but it cannot access your funds directly. This could provide a degree of safety when using this service, since only you have access to your money. You can withdraw your funds at any time and get paid out within a few hours.

If you’re on the hunt for a popular Bitcoin robot, why not read our in-depth Bitcoin Profit review as well.

Bitcoin Prime Key Features

Let’s take a look at some of the features that make Bitcoin Prime stand out from other Bitcoin robots:

Supports Bitcoin CFDs 

As one of the best Bitcoin robots, Bitcoin Prime lets you gain exposure to the volatile crypto market via BTC CFDs. These include both crypto crosses and currency crosses. 

It’s important to note that with the Bitcoin Prime App you will be speculating on the price movements of popular cryptos via CFDs. This means that you will not own the underlying assets but instead will be trading contracts for difference.  

The crypto robot trades many of these cryptos as CFDs against a range of other cryptos or fiat currencies. In all, Bitcoin Prime can trade more than 75 crypto-crypto and crypto-fiat CFD pairs.

This wide selection of trading pairs is important because it creates more opportunities for trading. Every crypto-crypto and crypto-fiat trading pair experiences unique price movements and has varying levels of volatility. So, even when the market is relatively slow, Bitcoin Prime should be able to identify and execute trades.

Deep Learning Algorithm

Bitcoin Prime says that it’s sophisticated AI algorithm uses deep learning to constantly improve its trading success. The algorithm learns from both successful trades and trades that turn a loss so that it can trade more consistently and profitably in the future.

According to the Bitcoin Prime website, the algorithm has achieved a success rate of up to 90% in most market conditions.

Demo Trading Mode

Bitcoin Prime offers a demo trading mode in addition to live trading. In fact, you can easily switch back and forth between demo and live trading at any time using a switch in your online account dashboard.

Demo trading is important because it gives you an opportunity to test out different parameters for Bitcoin Prime’s algorithm. For example, if the algorithm is yielding a success rate of only 70% on a given day, you can switch to demo mode, modify some of the parameters, and see what it takes to push the win rate closer to 90%. Once you’re satisfied with the algorithm’s performance, you can switch back to live trading.

According to Bitcoin Prime, it typically only takes around 30 minutes of demo trading to identify the best algorithm parameters for any market conditions.

News Trading

Bitcoin Prime’s trading algorithm also claims to monitor market news feeds to stay one step ahead of the market. The platform looks for news that could significantly impact the price of any cryptocurrency or fiat currency and then issues trades around that news.

News-based trades can be very successful since Bitcoin Prime’s algorithm is able to react faster than most human traders.

Broker Partners

Ever wondered if there was another way to gain exposure to the crypto market without going through a crypto exchange? Bitcoin Prime works with third-party brokers to hold the funds in your account and execute trades. According to the site, available broker partners offer the 75+ CFDs that Bitcoin Prime trades and don’t charge excessive trading fees. When you sign up for Bitcoin Prime, you will automatically be assigned one of several partner brokers based on your location.

Bitcoin Prime Price & Fees

Bitcoin Prime is free to get started with. The platform charges a 2% commission on trades for profitable accounts only. If your account has yet to make money, Bitcoin Prime won’t charge any commission.

The platform doesn’t charge deposit fees and there are no withdrawal fees for your first 10 withdrawals each month. After the 10th withdrawal, Bitcoin Prime charges a 0.1% transaction fee per withdrawal.

Note that your broker may have additional fees for deposits, withdrawals, or trading. These fees are set by your broker and are not charged by Bitcoin Prime.

Here’s a rundown of all the fees our Bitcoin Prime review turned up:

Is Bitcoin Prime a Scam? 

One of the key questions we wanted to address with our Bitcoin Prime review is, is Bitcoin Prime a scam? 

Bitcoin Prime’s unverified win rate of 90% is in line with what similar cryptocurrency trading robots have achieved. However, we were not able to independently verify the claims made by the bitcoin trading platform. please keep in mind that all trading and crypto investments come with risks and potential losses. Only invest capital that you can afford to lose. 

The Bitcoin Prime platform is well-reviewed on sites like TrustPilot in addition to testimonials offered by Bitcoin Prime itself, but we strongly recommend to do your research and weigh up the potential risks before signing up and depositing money into the platform.

It’s not clear who owns Bitcoin Prime – although as trading bot tools are unregulated many founders of proprietary automated trading platforms prefer to remain anonymous.

Also see our reviews of the top algorithmic trading platforms for some Bitcoin Prime alternatives.

Amazon Cryptocurrency Connection?

The term ‘Amazon cryptocurrency’ appears to be trending with Bitcoin Prime search terms but there isn’t any verified connection yet between Amazon or crypto robots like Bitcoin Prime. Amazon have however recently stated they may consider creating an NFT marketplace at some point ‘down the road’.

Did Elon Musk Use Bitcoin Prime?

While the billionaire founder of Tesla and SpaceX has mentioned Dogecoin, Shiba Inu and Bitcoin itself in many interviews and on his Twitter profile page, he has not yet tweeted about any Bitcoin robots. Similarly rumors of a Martin Lewis connection appear to be unfounded.

Bitcoin Prime Minimum Deposit

Bitcoin Prime requires a minimum deposit of $250 in order to get started. This money is the seed money you need to open a brokerage account. It’s also the money that Bitcoin Prime’s algorithm will use to begin growing your account.

You can withdraw your initial deposit to Bitcoin Prime at any time with no penalties if you’re not satisfied with the platform.

Bitcoin Prime Customer Support

Bitcoin Prime enables you to get in touch by email at any time. Once you sign up, you will be assigned a dedicated account manager who will walk you through how to use the software. Your account manager is a valuable resource for learning how to modify Bitcoin Prime’s parameters to optimize the algorithm.

If you’re enjoying this Bitcoin Prime review, you could also check out our NFT Profit review, and our Bitcoin Evolution review.

Bitcoin Prime Trading Platform

According to the Bitcoin Prime website, it claims to offer a powerful and intuitive trading platform with a user-friendly design. This popular crypto trading bot is available mainly on desktop for Windows and Mac, without an iOS or Android app available yet for iPhone, Samsung devices etc.

However there is a basic web version of the desktop Bitcoin Prime app optimized for handheld devices, to trade on the go. Bitcoin Prime user reviews tend to focus on the PC experience however, there are few Bitcoin Prime testimonials related to its web app version.

Bitcoin Prime also says it’s trading platform is integrated with MetaTrader 4 (MT4). MT4 is one of the world’s most popular trading platforms and provides a vast array of technical analysis tools.

The Verdict

Bitcoin Prime is a crypto trading robot that claims to be capable of 24/7 automated trading in 14 different crypto markets. According to the site itself, the software uses deep learning to constantly improve its trading performance. There are no account fees for using Bitcoin Prime, but profitable traders will pay a 2% commission in exchange for the platform’s help.

Only invest what you can afford to lose however as many bot tools make unverified claims. For a Bitcoin Prime alternative in 2023 investors might be interested in our review of the crypto trade bot Napoleon X – which has achieved a verified positive ROI over the past year on an established crypto exchange.

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

FAQs on Bitcoin Prime