Bitcoin Bank – What are the costs and fees?

Last Updated: 18 May 2024

Bitcoin Bank is not a “bank” in the sense that it is a service provider (broker) for trading cryptocurrencies. It is designed to make it easier for investors to manage their investments in cryptocurrencies. It is therefore already a bank, but that does not mean that the money is not in circulation.

The prices change constantly and temporarily very quickly, so both the profits and the losses can be very high. However, this is always pointed out as soon as you sign up, that you are trading on your own responsibility and cryptocurrencies are subject to a high risk.

The entire invested capital can be lost. The bots and brokers access the latest information from the internet world, the overall economic situation and the price development with the help of “news spies”, so that the brokers are always brought up to date in real time and prove the data to be authentic and legitimate.

 

Bitcoin Bank - What are the costs and fees?

The risk of loss can cause a distrust from the customers’ side, but to fix this, some tips can be used. Firstly, a demo account can be used to get to know how the bots and the brokers work and to familiarise oneself with the platform.

On a demo account, you first trade with virtual money that does not yet bring you any real losses. You have to bear in mind that you cannot choose a financial service provider or broker yourself during the free registration, but are assigned to one.

You register with your name, e-mail and telephone number (also for a first intro call to introduce you to the system). Depending on the trading software, it is always a different platform, which you may have to familiarise yourself with.

Once you have tested the demo account sufficiently and perhaps established a basis of trust, it is still necessary to deposit a minimum amount of 250 euros so that you can trade on the platform “for real”.

Tip: Sign up for Bitcoin Bank TODAY . As of 27.05.2024 the free trial is unfortunately no longer available. Click NOW here to get the free trial.

In addition, a broker profit sharing fee of 5 per cent is levied on all profits and the profits have to be taxed through the tax office. In order not to lose control over the bots and the broker, it is recommended to invest little at first so as not to suffer such large losses.

Especially as a beginner, one can quickly lose track of the price developments and thus suffer unintentional losses. This is also the reason for some criticism of these systems.

You are still responsible for your own actions in the truest sense of the word and cannot necessarily blame the broker and the bots for your own failures, although you should always prepare yourself for how automated trading works.

However, the success rate is over 90 per cent and the amount of return paid out is also that high. If there are problems, a very good and competent customer service (international) helps and one can have the profits paid out after 24 hours and also switch off the bot again.

The system is therefore suitable for beginners as well as for professionals.

Author
  • Luke Handt

    Luke Handt is a seasoned cryptocurrency investor and advisor with over 7 years of experience in the blockchain and digital asset space. His passion for crypto began while studying computer science and economics at Stanford University in the early 2010s.

    Since 2016, Luke has been an active cryptocurrency trader, strategically investing in major coins as well as up-and-coming altcoins. He is knowledgeable about advanced crypto trading strategies, market analysis, and the nuances of blockchain protocols.

    In addition to managing his own crypto portfolio, Luke shares his expertise with others as a crypto writer and analyst for leading finance publications. He enjoys educating retail traders about digital assets and is a sought-after voice at fintech conferences worldwide.

    When he's not glued to price charts or researching promising new projects, Luke enjoys surfing, travel, and fine wine. He currently resides in Newport Beach, California where he continues to follow crypto markets closely and connect with other industry leaders.

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