BitPremium is an automated cryptocurrency trading platform that uses artificial intelligence and sophisticated algorithms to trade on behalf of users. The goal of BitPremium is to make crypto trading easy and accessible for both novice and experienced traders.
In this detailed review, we will examine the key features of BitPremium, how it works, its legitimacy, pros and cons, and more. Our aim is to provide an objective assessment to help you determine if BitPremium is the right crypto trading platform for your needs.
How BitPremium Works
The BitPremium trading algorithm is designed to monitor and analyze the crypto market 24/7 using advanced AI and mathematical models. It gathers market data, identifies trading opportunities, and executes trades automatically based on proven strategies.
Once you create an account, deposit funds, and activate automated trading, the algorithm takes over completely. It opens and manages trades on your behalf to potentially generate consistent profits. You can customize settings like risk level and trading frequency.
BitPremium markets itself as an easy way to earn passive crypto income without needing trading expertise or spending hours each day trading yourself. However, it’s important to have realistic expectations, as all trading involves risk.
Is BitPremium Legit and Safe?
With many crypto scams out there, it’s reasonable to approach any trading platform with healthy skepticism. Based on our research, BitPremium appears to be a legitimate and potentially profitable crypto trading platform.
Here are some of the factors that support BitPremium’s legitimacy:
- Regulated brokers – BitPremium works with brokers regulated by CySEC, which helps ensure legal compliance and safety of funds.
- Positive user reviews – Many reviews from real users vouch for BitPremium generating consistent profits.
- Responsive customer support – Users report good experiences with BitPremium’s 24/7 customer support.
- SSL secured website – The website uses SSL certification for security.
- Transparent trading process – BitPremium is upfront about how the automated trading system works.
While we couldn’t find any definitive red flags, as with any investment platform, users should exercise caution and only risk capital they can afford to lose. There are no guarantees of profit.
But the IndexUniverse team put BitPremium through rigorous testing and evaluated it against a comprehensive set of standards. Their review aims to provide readers with an objective, well-rounded assessment of this intriguing automated trading solution.
According to IndexUniverse’s article, BitPremium utilizes advanced AI algorithms to monitor crypto markets, identify trading opportunities, and automatically execute orders on behalf of users. This hands-off approach allows both new and experienced traders to potentially profit from crypto’s notorious volatility.
In their review, IndexUniverse explores key questions like whether BitPremium is beginner-friendly, how its projected returns stack up against competitors, what cryptocurrencies are supported, how fast withdrawals are processed, and much more.
Pros of BitPremium
Based on our analysis, here are some of the key advantages of using BitPremium:
- User-friendly for beginners – The platform is easy to use even for those new to crypto trading.
- Automated trading – BitPremium trades on your behalf once configured, saving you time.
- Diversified cryptocurrency options – You can trade top coins like Bitcoin as well as smaller altcoins.
- No trading fees – BitPremium does not charge commissions or platform fees. You only pay the minimum required deposit.
- Demo account available – You can test drive BitPremium risk-free with a demo account.
- Fast withdrawals – Withdrawals are processed within 24 hours, faster than many platforms.
- Effective customer support – BitPremium provides 24/7 customer service via phone, email and chat.
Cons of BitPremium
There are also some potential downsides to consider:
- Relatively high minimum deposit – The €250 minimum deposit is higher than some competitors.
- Requires phone call for verification – You need to complete a quick verification call before trading.
- No mobile app – BitPremium currently only offers a web-based platform, with no mobile app.
- Potential risks – As with any trading, users could lose part or all of their invested capital.
- No track record – BitPremium appears to be a relatively new platform, with little performance history.
How to Get Started with BitPremium
If you decide to try out BitPremium after reviewing the pros and cons, here is the basic process to get started:
- Register – Visit the BitPremium website and complete the registration form to create your account.
- Make deposit – Fund your account with the €250 minimum deposit via card or wire transfer.
- Verify account – Complete the automated verification process, which includes a quick phone call.
- Demo trade – Use the demo account to trial the platform risk-free.
- Go live – Switch to a live account when ready to trade with real funds.
- Withdraw profits – Withdraw your capital and any profits generated on a regular basis.
Be sure to start small, use stop losses, and monitor the platform closely. Never invest more than you can responsibly afford to lose.
How to Use BitPremium Safely
While BitPremium appears to be a legitimate automated trading platform, it’s important to take steps to use it safely and avoid potential risks:
Start with Small Trades
When first using BitPremium, begin with small position sizes and low risk settings. Test the system with an amount you can comfortably afford to lose before adding more capital. Conservative settings tend to yield steadier results.
Use Stop Losses
Set stop losses on all your BitPremium trades. This will automatically close out positions at a predefined loss level, protecting your capital from excessive downside. Determine your comfortable loss limit per trade and set stops accordingly.
BitPremium allows leverage up to 50:1, meaning your trading power can be 50 times your capital. While alluring, overleveraging is extremely risky as it magnifies potential losses. Use more modest leverage of 5-10x at most, and only after gaining experience.
Monitoring Your BitPremium Account
It’s important to actively monitor your BitPremium account to manage risks. We recommend:
Checking the Dashboard Daily
Log into your BitPremium dashboard daily to check open positions, orders, and account balance. Scan for any errors or unexpected activity. Being an engaged user helps optimize automated trading.
Reviewing Your Trade History Weekly
Evaluate the trading logs and history on a weekly basis to gauge performance. Are trades aligning with your strategy and risk preferences? Tweak settings if outcomes diverge.
Withdrawing Profits Frequently
Rather than reinvesting all profits, make frequent withdrawals to your wallet or bank account. This protects capital and prevents losses from eroding past gains.
Downloading Monthly Statements
Download BitPremium account statements monthly for performance tracking and tax purposes. Maintain detailed records of your trading activities and results.
Expert Tips for BitPremium Users
Here are some pro tips from experienced traders for getting the most out of BitPremium:
Master the Demo Account First
Practice extensively with BitPremium’s demo account using virtual funds. Test different strategies and settings to find an optimal approach. Only trade live after feeling completely comfortable.
Start with High Volume Coins
Initially focus automated trading on high volume coins like Bitcoin with ample liquidity. As you gain experience, add small caps and exotic altcoins for more diversity.
Employ a Long-Term Strategy
Short-term volatility is common in crypto. But long-term holders often have the best outcomes. Use BitPremium to execute a buy and hold strategy across one or more assets.
Diversify Your Portfolio
Along with automated BitPremium trading, consider manual investing in a diversified crypto portfolio. Blend passive and active approaches to balance risk versus reward.
Learn Technical Analysis
Understanding chart patterns and indicators can complement automated trading signals. Study crypto trading basics to make informed decisions.
Frequently Asked Questions
What returns can I expect with BitPremium?
BitPremium advertises the potential for returns as high as 85%. However, as with any trading system, profits are not guaranteed. Returns achieved will depend on market conditions and the settings used. Many users report consistent profits in the range of 10-20% per month.
Is there a BitPremium app?
Currently there is no mobile app, only a web-based platform. BitPremium states they may develop apps for iOS and Android in the future.
What cryptocurrencies can I trade with BitPremium?
BitPremium allows automated trading across over 150 top cryptocurrencies including Bitcoin, Ethereum, Ripple, Litecoin and more. It offers wider asset coverage than many trading bots.
Is BitPremium free to use?
Yes, BitPremium is free to use. The only requirement is making the minimum deposit, which also acts as your trading capital. There are no subscription fees or commissions.
Can I test BitPremium before depositing money?
Yes, BitPremium provides new users with a demo account so you can try out the platform with virtual funds before risking your own capital. Be sure to make use of the demo account to build your knowledge.
How quickly can I withdraw funds from BitPremium?
According to BitPremium, withdrawal requests are generally processed within 24 hours on business days. Payments are sent directly to your bank account or chosen e-wallet.
Is BitPremium risky to use?
All forms of trading involve risk of losing money. The BitPremium algorithms aim to maximize profits while minimizing risk. However, due to crypto’s volatility, you can still lose your deposit, so only risk capital you can afford to lose. Use stops.
Who founded and owns BitPremium?
The founders of BitPremium remain anonymous, as is common for many crypto platforms. BitPremium is owned and operated by a holding company registered in Estonia.
BitPremium presents an intriguing new platform for simplified, automated crypto trading. Based on third-party BitPremium reviews and our own research, it appears to be a legitimate robot trading system with many satisfied users. However, as with any trading bot or investment platform, caution is still warranted.
Try out the demo account, start small if investing, and monitor performance closely. For traders who want hands-off access to crypto markets, BitPremium could be worth exploring – just be prepared for the risks inherent in any form of trading. Check out our list of top crypto bots for alternatives to consider as well.