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BTC Robot Review 2023
How can you recognize scams? They promise effortless or free profit or some other gimmick that would have every person on the planet do nothing but use that service and have endless prosperity.
Does BTC Robot fall into this category?
Free cash is usually the first thought that rings in the heads of those inexperienced in the ways of day crypto trading when they hear the word “cryptocurrency trading bot”.
The reality is much harsher: while you can earn money with minimum investment of time involved, it is also true that you can lose much if you rely on outdated or badly planned actions, or if the exchange dice falls on the wrong side.
So it isn’t really true that everyone who takes up crypto trading ends up with a surplus of money. Far from it, in fact.
It takes a lot of effort, analysis, credible research sources, and an acute trading mind that is able to smell out an opportunity or an incoming shift in market trends.
On top of this, it takes a well-made bot to properly streamline the whole process in order to reduce the time spent on day trading from hours to minutes per day.
Earning money via crypto trade is not nightmarishly difficult. If you have a knack for it and a proper set of software tools, it isn’t hard at all.
However, it most certainly isn’t “guaranteed”, “precise”, and “free”, especially not all three at the same time.
Yet here we have a trade automation software that claims to be all that, a superb service that approximates its success rate at more than 99%, claims cutting-edge technology that beats the rest of the market, and renounces all profits barring minimum commission rates and requiring a fixed deposit of at least $250 in fiat currency.
Sounds fishy already?
If it does, you’re not the first one. The whole community smells BTC Robot from miles away and tends to stay away from it.
Is this suspicion grounded in reality or does this Bitcoin robot suffer from baseless accusations that serve only to unjustly tarnish its otherwise impeccable reputation?
Is it a diamond in the rough or a scam in disguise?
Let’s find out together in this BTC Robot review, shall we?
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What’s BTC Robot?
BTC Robot is a crypto trading automation software that has been around for a while, launching early enough to still rely on MetaTrader 4 (MT4) foreign exchange platform.
In other words, instead of providing direct access to cryptocurrency exchanges via a unified interface as we used to do nowadays, BTC Robot only connects you with a broker who commits deals in your stead.
Old habits, or rather old mechanics, die hard, and this one still lives within BTC Robot. MT4 is a trademark service of forex trading, or trading in foreign currency.
Although it has similarities with crypto trading, it is more centralized, it exercises significantly less freedom in purchases, and it generally falls more in line with traditional ways of dealing in currency.
This is not ideal and there’s a reason why crypto trading bots have shifted away from this principle more than half a decade ago.
This automatically reshuffles the regular criteria used to judge a crypto trading bot, so we have to start anew.
Speaking of supported crypto exchanges is out of the question–there are none. With BTC Robot, you solely rely on one, two, or three brokers, depending on your pricing plan.
Again, this implies uncharted territory with markets not always familiar to crypto trading experts. Tread carefully.
Even if we turned a blind eye on the unreliability of these features, there’s an abysmal reputation to BTC Robot that we simply can’t let go unnoticed.
With multiple sites, shady deals, and coercive marketing akin in nature to Ponzi schemes, BTC tends to leave a bitter aftertaste with many, in spite of an existing community, active customer support service, and positive reviews on Trustpilot.
MT4, Brokers, and Tied Hands
We owe some more explaining to do about the core BTC Robot function – its reliance on MT4 service.
MetaTrader 4 is a service used mostly by brokers who deal with foreign currency exchanges and technical analysis related to the global fiat currency market.
The keyword here is “broker”, as MT4 doesn’t provide direct access to any major or popular cryptocurrency exchange.
There’s an individual whom you have to give access to funds and delegate orders to even be a candidate to make a profit.
This is fundamentally different from the regular crypto exchange function that we got used to.
It immediately becomes apparent that this sort of service finds much more use in bigger, more stable, and more conventional currency markets such as fiat foreign currency.
The dynamics of the cryptocurrency industry require hands-on approach with direct access, shifting strategies and approaches on the go, and a plethora of fine-tuning indicators that can ground the bot’s logic in your reasoning as soon as the circumstances dictate so.
It isn’t clear why BTC Robot decided to stick with this approach in 2021 when it was starting to become obsolete for crypto more than ten years ago. Too bad.
Ease of Access/Use
Unfortunately, we still can’t move past this terribly unfitting MT4 system when we speak of ease of access and use.
First of all, the whole maneuverability provided by regular crypto trading bot gets lost at one choke point – the third-party, or the broker.
You can’t access crypto exchanges, you can’t keep up with the pace of more fluid software, and you can’t maintain a direct approach to your trading strategy.
Even setting up a BTC Robot account is fundamentally different from the standard crypto trading bot setup.
After all, you must consult with another person who implements your thoughts on your behalf. Although the account is yours, every deal goes through the hands of someone else.
Getting to use BTC Robot takes some finicking not found elsewhere, and thus it tends to put off most users who haven’t used this approach before.
Stating that BTC Robot is easy to use and easy to access would not be true. Be warned!
BTC Robot isn’t a regular crypto trading bot, as we’ve been mentioning from the beginning of the article. We can’t speak of features and indicators, because, well, there aren’t any.
At least not those that crypto traders are used to. A forex-centered service uses forex-aimed settings and BTC Robot is no different.
It allows pairing with fiat USD currency, and besides that it employs run-of-the-mill forex strategies as per that industry’s standards.
It has two formulated trading strategies, “medium-term” and “scalper”.
These roughly translate to a long-term and broad scope approach that requires a bit of time to come to fruition, and a short-term, high-frequency plan that is supposed to give profit much more quickly, but is significantly less profitable than the former.
From now on come tricky parts of the review, as certain shady and murky features get analyzed in greater detail.
For example, BTC Robot claims “superior technology” over regular trading bots because it is “faster” by exactly “0.01” seconds than regular crypto exchanges and trading terminals.
If this were true, these 0.01 seconds would give an insurmountable advantage to BTC Robot over virtually any other crypto trading bot currently on the market–it would have the first opportunity to seal the deal and thus get the profits before every other auto trading service.
As shown by the fact that BTC Robot isn’t the only viable crypto trading software today, this is not true.
Even if technology was faster, there are other choke points that significantly slow down the trading process and put it behind even average crypto trading solutions.
Yes, we mean the broker guy, but also the fact that there are no BTC Robot apps, that you have to have a dedicated device the speed of which also caps the speed of transactions, etc.
Lies such as this serve to damage a reputation more than the more serious, but unintentional mistakes. It’s a red flag raised by our cognitive security systems–don’t fall into scammers’ grasp.
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…and the Rest of BTC Robot’s Bad Seeds
As Pandora’s box, the “superior technology” lie is only an opener to more false claims and aggressive and deceiving marketing tricks.
BTC Robot holds multiple “official” sites which circumvents bad reviews by phasing out and shifting to others once the heat catches up with the software.
The whole “free but deposits first” policy that turns into a monthly subscription somewhere along the path does nothing to help the issue.
As a cherry on top, just below the spotless surface, a basic Google search reveals dozens of experiences of people outright scammed by BTC Robot.
With soiled steps left in its wake, BTC Robot is not a service that can be recommended with unbiased and good intentions.
But hey, do not despair!
There are plenty of crypto trading bots out there that are tried and true, working as intended and allowing everyone a shot at the ever-growing cryptocurrency market and the accompanied success.
For example, Quadency and Bitsgap allow a direct, hands-on approach to crypto trade automation, with bots, indicators, signals, backtrading, tests, and many, many lucrative options for both experienced day traders and those who want to become one of them.
Give them a shot and leave BTC Robot in the past (where its tactics and functions belong).
Good luck trading!