Exhaustive Bitcoin Compass Review: Legit or Scam?
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Getting financially hurt by a fake trading site is a nightmare for any trader: the money will be gone in a second, and you will never get them back. With this in mind, users always want to check whether a service is legit before investing there.In this Bitcoin Compass review, we will assess the main features of Bitcoin Compass and conclude whether the trading site is a scam or not.
What Is Bitcoin Compass?
Bitcoin Compass is an auto trading site where an AI-powered robot can perform trading operations on the user’s behalf. Moreover, the bot can even be 100% responsible for trading decisions. In other words, the software decides what trade to carry out to gain profit.Although the platform is called Bitcoin Compass, its users aren’t obliged to trade Bitcoin only. The service supports altcoins that include but are not limited to Ripple, Ethereum, and Litecoin.
You can sell or buy any cryptocurrency as soon as you make a deposit. Here, by the way, Bitcoin Compass also stands out. It supports such payment methods as:
You can even pay with Bitcoin, which is unique, no matter how ironically this sounds. To start trading, the minimum acceptable sum is $250.
Now, let’s discuss who and where can use Bitcoin Compass. The trading site is available almost in every country around the globe. However, there is bad news for US citizens: currently, it’s not approved to accept traders from the USA. Yet, the site states it’s going to change soon.
When US traders can use the auto trading bot, they can access the site from any device. The service doesn’t have an application for laptops or mobile and is accessible via a browser. The web-based application is optimized for all types of devices to ensure traders enjoy a high-quality user experience.
How Does It Work?
Now that you know what Bitcoin Compass is, let’s elaborate on the technology behind it. We have already mentioned that the service is driven by the AI-powered bot, but what does it mean?
An AI-powered bot is a software that fulfills certain orders. In our case, it decides what trades to carry out on behalf of a user. The decision-making is based on the collected data about the market.
Basically, the system analyses the crypto market – its historical and current trades – identifies lucrative positions and enters them. By a lucrative trade, we mean either buying a particular cryptocurrency cheap to sell it at a higher price later or vice versa – selling a blockchain-based currency high and repurchasing it later low.
The auto trading bot can perform the deals and gain a profit from minor market fluctuations for eight hours without any guidance. It means that you can passively observe how an AI-based algorithm looks for advantageous transactions and increases trader’s earnings. However, amateurs or professionals who want some control over the process can interfere and even manually specify some parameters of the trade.
It’s vital to note that it’s not the bot that carries out the deal. The robot just identifies which one to implement and then sends a signal to a broker: it’s the broker’s responsibility to perform trade operations.
Once the trade is completed, the broker sends the data back to the bot via an open API. The robot calculates the payout by subtracting the Bitcoin Compass commission and credits the user’s in-app account.
Is Bitcoin Compass Legit in the UK?
There are several signs that a trading site is a scam. First of all, it’s not officially registered. Secondly, it doesn’t reveal any data about inner processes. And, thirdly, it guarantees investors unlimited payouts, bunches of gold in five minutes, and a new Lamborghini tomorrow.
Bitcoin Compass doesn’t fall in any of the mentioned above categories. The service bears official registration. It adheres to industry policies like Know Your Customer and (KYC) Anti-Money Laundering (AML) guidelines.
Besides, the site doesn’t promote itself as a service of getting millions in a second. If you visit a homepage, you find a lot of useful information about the site itself, its processes, and registration.
Alongside this, we are sure that Bitcoin Compass is legitimate because it allows users to protect themselves from market volatility. A trader can implement stop-loss or deposit limits whenever he/she wants.
What Are the Site’s Advantages and Disadvantages?Let’s see what the pros and cons of Bitcoin Compass are as follows.
Bitcoin Compass Main Features
Here are four main features of Bitcoin Compass that make it stand out from other similar trading sites.
The service offers users to apply many limits easily. Some of them have a protective nature. For example, a stop-loss limit. Others, however, are purely for the sake of convenience. For instance, users can apply a payout threshold – or a limit that specifies the sum of money on the account that can be withdrawn. You can’t receive a payout until the sum is reached.
Being new on the crypto market is hard. However, with this auto trading bot, you don’t have to worry. First of all, you can rely on the technologies completely. Secondly, you can always learn more on the site: read a trading guide and practice in a demo account to become a pro.
If you are afraid that your personal data can be stolen, you can relax. The site is protected with SSL encryption that encrypts the data, and therefore, reduces the risk of cybercrime.
Normally, fast payouts imply a user receives the money within 24 hours. However, Bitcoin Compass went even further: the site states that the funds can be transferred as fast as within 12 hours only.
How Much Money Can I Earn with Bitcoin Compass?
The profitability of the trading service is determined by a win rate. The win rate indicates how many trades are successful. According to some data about Bitcoin Compass, the rate is around 90%. However, the site shares a figure of around 70%.
It means that 7-8 trades out of ten are going to be profitable, which is a rather encouraging fact. The ROI, however, reaches 60%, according to the trading site. Although the figures aren’t close to 100%, they seem to be real, unlike others that promise a 100% win rate. Obviously, it is impossible to automatically detect profitable trades without fail.
How to Trade with Bitcoin Compass
Here is a step-by-step guide to trading on the platform.
Step 1 – Registration
To register on the trading site, you need to fill in the form on the homepage:
Step 2 – Practice
Before starting live trading, every user should practice in a demo account. It will help get a basic grasp of the platform and understand how a trading session is essential for beginners. Amateurs can start with a demo account, to test the platform and their trading skills.
Step 3 – DepositWhen you are ready for real trading, you need to make a deposit first:
Step 4 – Live Trading
Now, you are ready to start gaining income. Just decide whether you want to pre-set some orders or rely on the bot 100% and start buying and selling digital currencies. You can leave the bot operating independently for up to eight hours.
Step 5 – Withdrawal
When the trade is over, and the gain is credited to your in-app account, you can withdraw the money fast and easy. For this, submit a request and wait for the transfer.
Was Bitcoin Compass Featured on TV and in Big Mass Media?
There are many rumors that Bitcoin Compass was mentioned on Shark Tank, This Morning, and Dragon’s Den. However, the facts aren’t true. Nonetheless, the site did gain initial public attention on The Week: it was mentioned in the article about Bitcoin.
What Do Celebrities Say About Bitcoin Compass?
The platforms’ founders acknowledge the fact that there are numerous fake rumors that tight Bitcoin Compass and celebrities. The platform, however, refutes this publicly. It’s a positive sign as many similar sites do the opposite and spread the rumors themselves to gain more attention.
What Do Customers Say about the Trading Bot?
To assess the Bitcoin Compass reputation among customers, we have decided to turn to a reputable resource, TrustPilot. We have found out that the service has good testimonials there, and its rating is around 4 stars.
Here are some examples of what real customers think about the auto trading bot:
“No worries, No hassle = Bitcoin Compass”
– a Finnish user admitted the platform to be legit and hassle-free.
“Legit and worth it!”
– a German user highlighted a competent representative who had helped him to understand how the site works.
How to Use Bitcoin Compass Like a Pro?If you are a newbie and don’t know anything about the crypto market and trading, you can be confused: how to make money from market fluctuations? The confusion may result in a lot of mistakes that you will pay for from your wallet. To prevent this, we have prepared a list of useful tips:
How Does the Auto Trading Bot Differ from Regular Trading Systems?
Regular Trading System
Free and fast. Takes up to five minutes. Verification is a must to activate an account.
Varies. Typically, it implies providing a lot of documents to prove its credibility. May take up to several hours.
Instant. Several depositing methods. Minimum $250.
Usually, the minimum deposit is higher than $250. May start from $2000.
100% - advisory services, an authentic training guide, demo account.
Usually, these suit traders with at least some level of expertise.
Taking everything mentioned above into account, we can confidently conclude that Bitcoin Compass isn’t a scam. The platform is secured and reliable. It offers support for beginners and provides some degree of control over trading for amateur traders.
As our Bitcoin Compass review shows, users can rely on an auto trading bot. It’s backed up by artificial intelligence that ensures the high accuracy of the predictions. Later, the trades are carried out by reputable brokers. Although the site doesn’t reveal their names, all of them are ECN.
We can’t fully support this particular service. But there are several trading platforms that have our support 100%. Feel free to check them out on the list.
Best Trading Platforms in 2022 – Quick Pick
Bitcoin Era is an AI-powered trading system that provides automated cryptocurrency investment services for the sake of gaining profit. The platform is backed up by algorithmic analysis that ensures a high level of accuracy. However, you can also apply customized parameters and abandon auto-trading.
Bitcoin Revolution is a live trading platform with automated trading functionality. The platform is fairly new - it was launched in 2017. Over the last few years, it has managed to build a good reputation, although some hurdles were faced along the way.
Bitcoin Superstar is an automated trading technology based on algorithms to determine which options will guarantee positive results in a risk-aversive approach and develop effective strategies.
To lock in all the information that you’ve just learned, take a look at these questions.
What Is Bitcoin Compass?
It’s an auto trading website where an AI-powered robot carries out trades on the user’s behalf. The service analyses the crypto market and determines the best entry and exit points for a trade.
How Safe Is Bitcoin Compass?
The site is 100% safe. First of all, it boasts SSL encryption to protect user data. Secondly, it allows a user to set stop-loss and deposit limits to protect the investment from market fluctuations.
Is Bitcoin Compass Legitimate?
Yes, the service is legitimate. It’s an officially registered trading site that partners with ECN brokers. The platform provides realistic data about the bot’s performance and protects user data.
How Do You Get a Bitcoin Compass?
Visit the official website and fill in the registration form. Later, you will receive an email confirmation to activate your account. Please note: the service doesn’t have an app and is available via a browser.
How Does Bitcoin Compass Work?
The auto trading bot decided which cryptocurrency to buy or sell to make a profit from a trade. The decision-making is based on the technical analysis – or analysis of the crypto market trends.
Can You Make Money with Bitcoin Compass?
Yes, you can earn a profit with the auto trading bot. The service claims that a win-rate is around 70%, while an ROI is 60%. It means that if you make five trades, three are supposed to be profitable.