Since the growth of crypto in summer 2020, several investors have left traditional financial instruments to join the crypto bandwagon. The value of crypto shot up exponentially, and even more market participants entered the crypto markets. Crypto bots propose a great way to automate trading activities and make money for many of these retail investors and beginner traders.
Primebit Profit is one of the newest crypto trading bots available, and this Primebit Profit review will share the details you need to know.
Primebit Profit Summary
This table will help you understand the major technical strengths of the Primebit Profit robot:
|💠 Supported cryptocurrencies||Over 5; Including BTC and ETH|
|💥 Claimed Success Rate||99.8%|
|ℹ Minimum Deposit||€250|
|💵 Mobile App||None|
What is Primebit Profit?
Primebit Profit is a cryptocurrency trading bot that aims to help traders make money easily. The bot was developed to help automate the trading process, offering different tools and features that both newbie and experienced crypto traders could find helpful.
While handing our Primebit Profit review, we could not find any information about the bot’s developers. This could be a red flag, but it should not limit the trading bot’s functionality.
The Primebit Profit robot focuses on using artificial intelligence and machine learning to scan the markets and spot changes in trends to spot the right entry and exit positions for cryptocurrencies. The robot claims to be able to scan the latest market news, evaluate trends, and execute trading orders based on its high-frequency trading system.
As many Primebit Profit reviews have shown, this trading bot claims to have a 99.8% accuracy rate. If this is true, Primebit Profit will be among the highest crypto trading bots based on efficiency and accuracy.
Is Primebit Profit a scam? We can’t verify this. The bot appears to work as many in its field, such as BitProfit or Bitcoin Prime, offering easy access to the market and lightening the research load that most traders have to bear, but prospective users should remember that the crypto market can be very volatile. Always approach your trading activities with caution, and start small.
Primebit Profit Pros & Cons
Cryptoassets are a highly volatile unregulated investment product. No UK or EU protection. Your capital is at risk.
How Does Primebit Profit Work?
The Primebit Profit robot is an automated trading bot that attempts to make it easy for traders in the market to make money.
It is worth noting that Primebit Profit declares that it facilitates the trading of contracts for difference (CFDs); these are derivatives that give you the right to buy or sell a cryptocurrency later. You lock into a price, and the difference is paid when the contract matures.
So when you trade with Primebit Profit, you’re not buying or selling the cryptocurrencies themselves.
Primebit Profit states that it works primarily using artificial intelligence and machine learning. Using these two concepts, the bot searches the market to find the current trends and analyse events in the future. From there, the bot finds the right entry and exit points for traders, maximising their chances of making profits.
The Primebit Profit developers have asserted that the bot is 99.8% accurate. We couldn’t verify this, but it is important to remember that cryptocurrency trading can be risky. To guard against the volatility, start small and invest little amounts alone.
The Primebit Profit robot says that it doesn’t work alone. The bot connects traders with a network of brokers. These brokers primarily handle tasks like trade execution and position sizing. According to Primebit Profit, when you set your trade parameters on the Primebit Profit platform, the brokers are the ones who make the trades and manage your positions.
Primebit Profit Key Features
Below, we’ll look at some of the most important features that make the Primebit Profit robot so great for users:
- AI-Based Trading Algorithm
Primebit Profit operates based on basic trading principles. However, the bot insists that it works with an advanced trading algorithm that uses artificial intelligence and machine learning to navigate the market. It is an automatic trading bot, and its developers have touted its ability to simplify the trading process for market participants.
Primebit Profit’s developers have also claimed that the bot can deliver an accuracy rate of 99.8%, although we couldn’t verify this. Beginners and advanced traders should be able to use the platform, although it is important to have proper trade management protocols to guard against market downturns. The crypto market is very volatile, and you don’t want your trade going sideways.
- Multi-Trading Mechanism
Primebit Profit vows to contain several key tools and features that allow you to successfully trade the crypto market. While the bot automates the entire trading process, it allows you to set parameters and other key characteristics that could affect your trade; you get full customisation for the bot.
Also, thanks to its bot’s use of CFDs, Primebit Profit says it’ll allow you to go long or short on a specific coin. This is especially useful for traders who want to corner the market and take advantage of the current direction in a coin’s price. None of this is a guarantee of success, but Primebit Profit claims to significantly increase your chances of profitability.
- An Affordable Trading Tool
The information available on the Primebit Profit website suggests that the trading app doesn’t charge any costs. You can register for free, and you also don’t need to pay any costs to use the bot. This is especially good compared to many other trading bots charging you for access to their protocols.
As long as you have an active internet connection and your minimum balance, the Primebit Profit app should allow you in. The bot also asserts no hidden charges, so you won’t have to deal with unwanted charges to your credit card or bank account. Other Primebit Profit reviews have alluded to the platform’s affordability.
- Demo Account Available
The demo account can be very important for users. Cryptocurrency trading can be very risky, and it takes a lot of skill and strategy to make money. With its demo account, Primebit Profit states that it’ll allow you to test out new strategies and parameters for trading. You can see how well your strategy will work in the real world and fine-tune it as you like.
Our Primebit Profit review recommends the demo account for beginner traders who want to try the Primebit Profit robot. The demo allows you to acclimatise yourself with the Primebit Profit robot, so you get more comfortable moving to the live trading feature. Whether you’re a beginner or an advanced trader, this feature can help you.
- Speed and Efficiency
Trading is all about optimal entry and exit. Primebit Profit acknowledges that it understands the need for speed and handles trades promptly. The robot’s developers claim that its algorithm is 0.1 seconds faster than the market.
The speed of this bot also seems to extend to transactions. Numerous Primebit Profit reviews have stated that the bot processes withdrawals in minutes. This is favourable, especially when you consider that most bots tend to take a few business days before they can process transactions.
Primebit Profit’s developers have touted its liquidity; they claim that it will be able to process transactions in minutes.
Primebit Profit Fees
Fes are very important when working with a trading bot. We looked through many Primebit Profit reviews and found the following fees:
|Account Opening Fee||None|
|Account Inactivity Fee||None|
|Account Maintenance Fee||None|
As the table above shows, Primebit Profit might be among the most affordable crypto trading bots in the market. It doesn’t take any registration fees or commissions on your successful trades.
This leads us to believe that the robot primarily makes money from trading spreads. We couldn’t confirm this, but it seems plausible since Primebit Profit doesn’t say it takes commissions on trades.
Is Primebit Profit a Scam?
We can’t verify the legitimacy of this platform. However, many other Primebit Profit reviews have alluded to the platform being legitimate. The trading bot’s artificial intelligence-based platform and network of brokers point to it being legitimate.
Of course, this doesn’t take out the market risk. Traders should always be aware that the crypto market is volatile, and coin prices are subject to significant swings. Always take the right measures to protect yourself while trading.
Primebit Profit Minimum Deposit
The minimum deposit available on Primebit Profit is €250. This is competitive with other trading bots, according to other Primebit Profit reviews.
For newbie traders, we will recommend starting with this amount. Trading the crypto market can be risky, so you don’t want to invest too much and risk losing it all. Start with the lowest deposit, then work your way up from there.
Primebit Profit Customer Support
Customer support is very important if you hope to work well with a platform. According to Primebit Profit, the website’s team will deliver a prompt response to you whenever you need to contact them with a question.
If you’re a newbie trader, we recommend contacting the customer service team if you have any troubles.
How to Use Primebit Profit
If you’re interested in using Primebit Profit, here’s how to get started with the trading bot:
- Sign Up
Go to the Primebit Profit home page to begin. There is a “Register” button at the top, and you can also sign up by entering your details in the dialogue box at the top right-hand corner. You will need to enter your name, Email address, and phone number.
The Primebit Profit website will immediately connect you to one of its partner brokers. From there, you will be taken to your profile page.
- Demo Account
Using the demo account is admittedly not mandatory. But if you hope to optimise your user experience on the platform, this could be important. The demo account allows beginners to get a good feeling of the platform, and it also allows advanced traders to test out their trading strategies.
- Make A Deposit
The next step will be to make a deposit. Primebit Profit asserts it’ll enable you to use different payment channels—primarily, cards and accepted cryptocurrencies.
Remember that the minimum deposit is €250. As a beginner, it’s important to start small and work your way up from there.
- Live Trading
Once you’ve funded your account and used the demo account, you can move to live trading. Ensure to customize the trading parameters and set the risk management protocols accordingly. This is essential in protecting you from the market’s volatility.
Primebit Profit is one of the newest and most popular crypto trading bots. The platform’s developers have claimed that it can help optimise your chances of making money in the market with its 99.8% accuracy rate.
As a trader, we recommend caution when trading the crypto market. Price volatility can be challenging to navigate, and you don’t want to lose your capital if the market goes sideways. Remember to always test your trading strategies and start trading with the minimum amount.
Crypto assets are a highly volatile unregulated investment product. Your capital is at risk.