Bitprime Gold is a new automated trading platform, amongst a growing industry trend of Bitcoin robot, or ‘bot’ software tools for cryptocurrency investors.
They meet the increasing demand for trading bot programs withing the crypto trading community, as the crypto markets trade 24/7/365, unlike the legacy markets (such as forex, Gold, stocks) for which institutions tend to close trading on weekends.
In this guide we’ll compare relatively new robot trading platform Bitcoin Gold to other Bitcoin robots and analyze its claimed winrate and investing strategy.
Bear in mind many trading robots make exaggerated return on investment (ROI) claims and some are scams, such as those we blacklisted on our top Bitcoin robots page.
Bitprime Gold – Overview
Based on various Bitprime Gold reviews online this Bitcoin trading robot has the following features:
|What the Robot Trades||Bitcoin (Satoshis, units of BTC)|
|Mobile Compatibility||None – Desktop only|
Your capital is at risk.
Review of Bitprime Gold
As the Bitprime Gold website notes, Bitcoin could reach six figures by the end of 2022. Goldman Sachs made a Bitcoin price prediction of $100,000 on CNBC in January 2022.
Other institutional investors like Ray Dalio, Elon Musk, Paul Tudor and various hedge funds have made similar predictions when talking to Forbes, the Financial Times and several other media outlets covering finance.
Bitprime Gold advertising
Bitcoin investors the Winklevoss twins have also predicted BTC could reach $500,000 if it one day matches the market capitalization of Gold ($11 trillion, over 10x the current Bitcoin market cap).
Bitcoin vs Gold
While Bitcoin has volatile bull runs and bear cycles (sometimes referred to as pumps and dumps) it has overall in the long term been one of the best performing financial asset classes of the last decade. It began at a valuation of just a few cents in 2010 and hit $69,100 at its current all time high in 2021.
In 2022 it’s been in a bear market but is still above $20,000, the all time high set in 2017 and the crypto bull run that year. After a reaccumulation cycle in 2018-2020 it set a new top. Bear in mind multi-year bear markets like that can happen, but so far have historically always recovered. Past performance is not an indication of future results however.
The Gold markets by comparison are, after recovering from a dip that lasted most of the last decades, now back around the 1800 – 2000 Gold price range of ten years ago. So essentially no movement in a decade – Gold only acted as a store of value and hedge against inflation, but didn’t make a return on investment (ROI) for holders. Bitcoin did however, with the exception of those that bought in at the top.
How to Join Bitprime Gold – Steps
To create a Bitprime Gold account appears straightforward based on the website instructions. The step by step process is:
1. Visit the Bitprime Gold Website
Ensure you’re visiting the official Bitprime Gold website as some Bitprime Gold links online are clone sites.
2. Enter Personal Information
A box on the first page of the Bitprime Gold site prompts new users for their personal details – name, email address, phone number, country code etc. A Bitprime Gold representative will then be in touch to enrol you into the Bitprime Gold program.
Some Bitprime Gold feedback online has described this as coldcalling which can be a red flag when investing in cryptocurrency.
3. Deposit Funds
We recommend beginning with the stated $200 minimum investment in case Bitprime Gold is a scam, which we haven’t been able to verify. Also test out a withdrawal once you’ve been trading for a short time – take profits as the crypto markets are volatile currently in 2022.
Deposits with a debit / credit card or bank wire are accepted in USD, EUR, GBP and various other local currencies. Withdrawals are supported via the same payment method used to deposit and take up to 24 hours.
4. Start Trading
Bitprime Gold has a demo account which you can optionally use to paper trade Bitcoin for practice first, or you can begin trading for real money. Remember to only invest what you can afford to lose, and your capital is at risk. Start with a small position size when trading as a beginner.
Your capital is at risk.
Bitprime Gold Alternatives
An alternative to using Bitprime Gold or any similar trading bot is to use the copy trading feature on eToro – this FCA, ASIC and CySEC regulated crypto platform allows you to mimic the trading decisions of a winning, profitable trader of your choice, or several.
We recommend diversifying your portfolio by allocating part of your funds into a long-established, safe and reputable platform such as eToro – don’t invest 100% of your crypto funds into one bot or hold it on one website.
Copytrading on eToro is similar to using a bot in that you can grow your investment without having to monitor it, trade yourself or make any decisions – all buy, sell, take profit and stoploss orders are automated. The platform also supports staking rewards for holding Ethereum or Cardano in your free wallet, a source of passive income.
There is also an in-house grid trading bot on Huobi exchange which is backtested each week, with its ROI statistics displayed. That’s another method.
eToro – Automated Copytrading of Profitable Traders
- 83.7% Average Annual Returns with CopyTrader™ feature
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Is Bitprime Gold a scam or legit?
It’s difficult to verify if any online Bitcoin bot is 100% legitimate in its claimed winrate, and we haven’t been able to verify the Bitprime Gold claims. Proceeding with caution and do your own research (DYOR) when considering creating an automated trading platform account.
How much can I earn with Bitprime Gold?
Various Bitprime Gold testimonials from traders attest to several hundred dollars per week or daily trading session, which would also depend on the principal capital invested.
How does Bitprime Gold work?
Bitprime Gold claims to analyze the 24/7 Bitcoin price action and profit through scalping, i.e. trading short-term price fluctuations within the intraday trading range.