- Exceptional charting
- Strategy development
- Trade automation
Cryptocurrency has recently been a trendsetter, ushering in a wave of trading platforms, and because Bitbotapp is not the only trading platform available, it is essential that you look into everything it has to offer. Continue reading this comprehensive Bitbotapp review to find out exactly how this trading platform is withstanding the test of time.
Pros and Cons of Bitbotapp
Before taking a closer look at some of Bitbotapp competitors, this review will take a step back to briefly examine where this trading platform shines and where it does not. Some of the advantages of using Bitbotapp include:
- Well-established platform
- Seamless account registration and verification
- Regulated across several jurisdictions
- Access to many cryptocurrencies and other assets
- Low minimum amount needed to fund your Bitbotapp account
In contrast, the disadvantages arising from the use of Bitbotapp include:
- Non-trading fees
- Mechanical failures
- Unregular monitoring of the platform’s functionality
Introduction to Bitbotapp
Bitbotapp is one of many leading trading platforms that enables a user to buy, sell, and exchange Bitcoin and many other cryptocurrencies. Designed for its use among both novice and experienced traders alike, Bitbotapp gives its users access to an entire range of financial products on a relatively straightforward and easy-to-use platform. It is because of this comprehensive range of financial services and products that Bitbotapp was able to build a solid foundation and establish its name in the crypto community.
With that being said, when it comes down to what an investor looks for when deciding on a trading platform, the answer lies in reduced transaction costs, and Bitbotapp is the bot for the job. It works by decreasing the transaction costs inherent in the exchanging of all cryptocurrencies.
Key Features of Bitbotapp
Without the following features, Bitbotapp would cease to be the trading platform it is today. These key features are:
Automated Currency Conversion
Automatic currency conversion is one of the many innovative features available on Bitbotapp. With this feature, users are given the ability to send and receive money in any currency choice that they desire. In other words, this feature is what grants a user the opportunity to send money in the currency that is already in use by them. The recipient of the money will, however, receive the amount they require in the currency of their choice or conveniently in use by them.
To give an example, if user Apple sent Bitcoin to user Banana, but Banana wanted Pounds instead, the automatic currency conversion feature will automatically convert the Bitcoin into Pounds, and Banana’s account will be credited not with Bitcoin but with Pounds.
Another unique feature of Bitbotapp is the autopilot feature. This feature enables Bitbotapp users to purchase their favorite cryptocurrencies on a regular basis – daily, weekly, or monthly – through a recurring transaction schedule.
To illustrate what the above means, if a user sets up a protocol that will purchase $50 worth of Ethereum monthly, the autopilot feature will buy $50 worth of Ethereum every month, coinciding with when a user receives their paycheck.
If you have an interest in cryptocurrencies, more specifically Bitcoin, then Bitbotapp is a trading platform for you. Integrated into Bitbotapp’s trading platform is cryptocurrency trading, and, as such, Bitbotapp supports an extensive range of cryptocurrencies. Some of the most popular cryptocurrencies supported by Bitbotapp are:
- Bitcoin (BTC)
- Dogecoin (DOGE)
- Ethereum (ETH)
- Litecoin (LTC)
- Solana (SOL)
- Polkadot (DOT)
- Cardano (ADA)
- Polygon (MATIC)
- Ripple (XRP)
In addition to the above, Bitbotapp also supports Dai, Tether, USD coins, and a handful of other stablecoins. Fiat currencies can even be converted by users. To illustrate, Canadian dollars can be converted into US dollars, Japanese yen, and Swiss francs, if a user wishes to do so.
A common target for fraudulent activity is crypto accounts, this is because cryptocurrency transactions on the blockchain cannot be reversed. It is because of this reason that security features may be of more importance to a user than, for example, an advanced trading interface. Luckily, if a user sticks to Bitbotapp’s online security practices, then they should consider themselves safe from the likes of cyber criminals.
Bitbotapp has a two-factor authentication feature, which is a good feature to have in terms of security when a user begins funding their account. Different two-factor codes may also be created for when a user signs into Bitbotapp, trades, or withdraws.
What’s more, in terms of security features, is the fact that Bitbotapp allows users to lock their account from potential changes. This is another good feature for those concerned about their account being breached.
Generally, users have a good experience with Bitbotapp, but it is still possible for your account to be hacked. If this happens, the owner of the account will lose everything, and when it comes to trading platforms, there is still no option of recovering lost assets. This is why it is so important for you to know about the risks of using Bitbotapp or any other trading platform.
How to Sign up to Bitbotapp
Creating an account with Bitbotapp is a similar process to creating an account with just about any other cryptocurrency exchange. If you have all of the information you need, the sign-up process shouldn’t take you forever to complete.
When a user signs up with Bitbotapp either through their mobile device or desktop via the trading platform’s web browser, they will need to provide their contact information. This includes information like a user’s name, surname, phone number, address, and social security number. In terms of the law, a user’s information is needed to meet the requirements of the know-your-customer (KYC) process.
Once users have provided Bitbotapp with all of their personal information, they will need to verify this information so that they can be granted access to Bitbotapp’s trading features. The verification process requires users to provide a copy of a government-issued ID, driver’s license, or passport, as well as a picture of them holding this document. Should a user wish to continue without completing this step, they will have limited account functionality.
How to Use Bitbotapp
Before a user can begin trading, they will need to deposit funds into their account. Once you have funded your Bitbotapp account, you can use the following guide to establish how you will go about placing your order.
One of the easiest and quickest ways to buy crypto instantly is by clicking the “Buy Crypto” button at the top of Bitbotapp’s home screen. From there, users can:
Select a currency pair
In this step, users will need to have some idea of what assets they want to exchange. Once a user knows the pairs they will be trading, they can select them in the quote or ticket bar that can be found in the top left-hand corner of the “Trade” tab.
Overall, in a currency pair, the first currency represents the base currency, whereas the second currency represents the quote currency. Users pay quote currency to receive base currency in a buy order.
Fill in the order form
Once a user has selected their trading pair, they can click the “Simple” form on the “New Order” page. This form will give them the option between three text boxes, as well as the option to use a limit or market order.
Submit your order form
Review that you filled out the order form correctly, and then select the “Buy or Sell” button to confirm. This will redirect users to an order confirmation screen, giving them the opportunity to double-check their buy order.
Those who selected market orders in the steps above can expect their trade to happen instantly with their balance reflecting their new order. Users can choose to withdraw their funds or use them to trade again.
All successfully executed market orders can be viewed in the “Orders” tab. If a user wishes to cancel an order not yet executed, they can do so via the “New and Open Orders” tab and then click the red “X” button.
Is Bitbotapp the Right Trading Platform for You?
The features of Bitbotapp are what make this trading platform an excellent choice for novice and expert traders alike, especially those who are wanting to find a new trading platform for all of their trading endeavors. Bitbotapp’s no hidden costs, good security protocols, and multiple cryptocurrencies are all on the draw.
Therefore, it can be said that Bitbotapp is a viable option for investing and trading cryptocurrency when compared to its competitors. Buying and selling Bitcoin should be a positive experience when you use Bitbotapp as your trading platform.
Frequently Asked Questions
What Is Bitbotapp?
Bitbotapp is a trading platform for the exchanging of Bitcoin and many other cryptocurrencies.
Is Bitbotapp Better Than Other Trading Platforms?
There is no one-size-fits-all when it comes to deciding which trading platform is the best. Therefore, the trading platform that you see fit as the best is the one that is able to meet your individual needs as a trader, and whether Bitbotapp or another trading platform is able to meet those needs will be a different answer for all users involved.
Is a Demo Account Featured by Bitbotapp?
Bitbotapp does allow users to register for a demo account only once they have signed up for a full Bitbotapp account. In this way, users are still required to provide Bitbotapp with their personal information.
Can US Citizens Register with Bitbotapp?
Clients from all around the world can register with Bitbotapp, even US citizens.