Trading cryptocurrency was regarded as a lucrative endeavor after traders in the digital asset saw some of the highest returns across all markets in the past few years. One of the keys to making consistent money by trading cryptocurrency is to place a series of winning trades while managing risk. However, you will quickly find that being consistent when trading cryptocurrency is tough. This is where a trading bot like Bit Index AI can help you.
Bit Index AI summary
Here is a quick summary of all the critical information and features that Bit Index AI provides:
|Platform type||Automated Trading Bot|
|Supported cryptocurrencies||BTC, ETH, & altcoins. Forex pairs|
|Withdrawal time||24 hours|
What is Bit Index AI?
Bit Index AI is a trading robot that can help you find the best entry and exit prices through its artificial intelligence technology. The bot attempts to make trading user-friendly by assisting traders in identifying potential trading opportunities and connecting them with brokers to place the trades automatically. The brokers used by the trading bot are all CySEC-licensed and are fully regulated.
With a claimed success rate of over 85%, Bit Index AI can help make a trader’s journey more straightforward and successful by helping place a higher percentage of winning trades.
Users of the platform can get started in under ten minutes after completing a KYC verification and making the minimum required deposit. Bit Index AI can be accessed directly from your web browser, and users can monitor all trades through the mobile applications provided by their affiliated brokers.
Although the robot’s name suggests it is just a cryptocurrency bot, traders can also use Bit Index AI to identify and place automatic trades within the forex market. Furthermore, the platform allows traders to use extremely high leverage of up to 1000:1.
Lastly, it is essential to note that the bot is free to use, and Bit Index AI doesn’t charge any trading fees or commission.
- High leverage available
- Automatic trading
- Extremely high claimed success rate
- Free to use
- Works in both crypto and FX
- Multiple payment methods
- High minimum deposit ($250)
- Not much info available on founders
How does Bit Index AI work?
Bit Index AI is a fully automated trading system that identifies and executes trades on your behalf. No maintenance is required, but the developers recommend spending at least 20 minutes daily to remain updated with your account.
The bot works by using its sophisticated artificial intelligence to identify potential winning trades within the market and then placing the trades through its partnered brokers. Bit Index AI uses various trading strategies and indicators to scour potentially lucrative trading opportunities within the market. The bot uses traditional technical indicators, such as MADC and Stochastics, and combines these with social media metrics to identify changes in the current trend.
Once a trade has been found, the software sends the entry and exit prices to the broker through an API for it to be executed automatically according to the trader’s risk preferences.
Bit Index AI key features
The following section covers some of the key features we found when researching the Bit Index AI homepage:
High success rate
Bit Index AI claims to have a very high success rate that reaches beyond 85%. This is higher than the industry standard and can help traders become consistent over a long period. With such a high win rate, traders can expect the bot to provide enough winning trades to become profitable quickly.
A unique feature of Bit Index AI is that they offer traders the ability to trade using up to 1000:1 leverage through their partnered brokers. This is an extremely high level of leverage compared to derivatives in the cryptocurrency market, which typically only allow traders leverage of up to 125:1.
With 1000:1 leverage, traders can open position sizes that are 1000x bigger than if they were using no leverage and enjoy the profits from the larger position size. However, it is important to remember that leverage is a two-edged sword that can quickly work against you.
Customer support and user experience
It is always essential to know what to do if the software doesn’t work according to the specification. Bit Index AI excels in customer support as they offer a 24/7 support line where customers can contact a representative through email or live chat.
Additionally, user experience is an essential part of any software service. Bit Index AI has gone out of its way to ensure that the platform is straightforward and user-friendly. Traders aren’t required to have any experience to use the platform.
Lastly, they make managing money very user-friendly as there are no limitations for same-day withdrawals. The platform will accept deposits from any VISA or Mastercard debit/credit card or through wire bank transfer.
Security and transparency are something that Bit Index AI also takes seriously. For this reason, the platform is only affiliated with CySEC-licensed brokers that the Cyprus Securities and Exchange Commission regulates.
The regulator is tasked with preventing and investigating fraud within the market. It is also their job to keep brokers’ operations transparent, ensure customers are treated fairly, and ensure that their private data is secured.
Using CySEC-licensed brokers also means that they have to meet the European regulatory framework. The oversight of regulators for CySEC-licensed brokers means traders can be sure their funds are in reliable hands.
Exotic trading pairs
Bit Index AI is not just a cryptocurrency trading bot. Alongside the traditional BTC/USD and ETH/USD trading markets, the bot allows traders to enter into positions for unusual currency pairs such as Euro/Turkish Lira and US Dollar/Swedish Krona.
Bit Index AI fees
The great thing about Bit Index AI is that it is completely free to use. The software doesn’t charge any registration fees, licensing fees, withdrawal fees, or trading fees of any kind. It doesn’t even take a commission on any of your winning trades.
However, the software does require you to make a small minimum deposit of $250 into their partnered brokerage account. This will serve as your initial trading capital and will grant you access to using the software.
Is Bit Index AI a scam?
Based on the findings, it can be concluded that Bit Index AI is not a scam.
To begin, the platform is entirely free to use. It does not ask for any registration fee, subscription fee, or charge for using the platform. Instead, they ask for a small deposit into their affiliated brokerage accounts, a standard industry practice.
Additionally, Bit Index AI has gone above and beyond by choosing to only partner with CySEC-licensed brokers so traders can be confident that their funds are in responsible hands.
Lastly, the testimonials provided by the team and the independent reviews online are all generally positive for Bit Index AI.
How to use Bit Index AI
Step 1: Create an account
First, head over to Bit Index AI and use their form to create an account;
Once registered, the Bit Index AI will assign an account manager who will contact you.
Step 2: Make the minimum required deposit
After talking with your account manager, you will need to make the minimum required deposit into the Bit Index AI partnered broker’s account.
The current minimum deposit amount is set to 250 EUR, and it will act as your initial capital investment to make trades. Deposit methods include EUR, GBP, and USD through VISA, Mastercard, or bank transfer. Alternatively, Bit Index AI also accepts cryptocurrency payments such as BTC, ETH, XMR, DASH, and XRP.
Step 3: Use the demo account provided
After making a deposit, you need to get to know the platform, and you can do this by using their demo account feature. The demo account will allow you to explore the platform and see how it works before risking any real money. You should be comfortable with being able to set profit targets, stop losses, and manage your trading hours.
Step 4: Trade live
Once you are satisfied with how the platform works, you can start trading live and risking real money.
Trading in cryptocurrency is complicated. It takes a lot of time and effort, and you can expect to lose money in the initial stages of the journey. However, a tool like Bit Index AI can make your trading journey more manageable and profitable. The high success rate for Bit Index AI puts it in a league above its competition, and the fact that it doesn’t charge a fee means you have nothing to lose in giving the bot a try.
Disclaimer – The above content is non-editorial, and Economic Times hereby disclaims any and all warranties, expressed or implied, relating to it, and does not guarantee, vouch for or necessarily endorse any of the content. Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions.