The fast moving nature of the cryptocurrency investment ecosystem leads many investors to seek out automated solutions. There are currently in excess of 1,200 different cryptocurrencies dominating the crypto market, with new tokens being launched in initial coin offerings every day.
Day trading or exploiting arbitrage in this fast-paced market can be likened to juggling cobras. One small mistake can result in a significant loss, but at the same time, it’s also possible to generate a significant profit in a short amount of time.
Automated trading software is currently becoming a popular solution for many traders and investors that want to streamline and automate their trading strategy. The very best trading softwares allow for a high degree of customization and are open source, allowing users to see “under the hood” and make trading decisions themselves.
There are, however, many less than effective automated trading software solutions that promise guaranteed profits without requiring users to have an understanding of technical analysis. These solutions should be assessed carefully, as in most cases they will trade your investment deposit to zero based on incorrect of foundless buying or selling signals.
In this article, we’ll take a look at Bitcoins Formula, which is the latter kind of trading software. We’ll check out what Bitcoins Formula promises and find out how it works to help you decide whether it’s worth taking a closer look at.
What is Bitcoins Formula?
Bitcoins Formula claims to be a highly intelligent trading algorithm that will generate a significant return on investment for very little effort. This is already a red flag, as there are no easy and guaranteed trading strategies in any market- otherwise we’d all be crypto-millionaires.
Bitcoins Formula doesn't provide a large amount of information on their website regarding the specifics of the trading software they offer. Rather, the site appears to be constructed to deliver extremely optimistic promises of the profits that can be generated with the software they offer.
How Bitcoins Formula Works
Upon closer inspection, Bitcoins Formula appears to be a referral site that is aiming to direct unsuspecting investors to depositing funds with DineroLibre Binary Options Broker. This comes with a minimum investment of $250, which would yield a solid referral fee for the owners of the Bitcoins Formula website.
While it’s unclear whether DineroLibre Binary Options Broker is able to deliver on the promises made by Bitcoins Formula, it’s clear that withdrawing invested funds from them will be difficult- the Bitcoins Formula website clearly states that there are several steps involved in withdrawing invested funds.
Bitcoins Formula Verdict
As far as automated trading software suites are concerned, Bitcoins Formula is a less than ideal solution. If you’re interested in achieving fast profit at high risk from managed Bitcoin investment, it’s probably safer and less complicated to invest in a high yield investment program or a managed investment index fund.