Immediate Bitcoin Review October 2023 – Full Unbiased Review
The world of trading bots is quite vast and it can be difficult to pick which platform to select when choosing from the various selection that is present online. Immediate Bitcoin is a new automated trading bot that uses the power of artificial intelligence in its trading strategies to potentially seek out profitable trading opportunities in the cryptocurrency markets. In this review of Immediate Bitcoin, we will look deeper into the platform, its features, and how it works to present an unbiased assessment of its legitimacy.
What is Immediate Bitcoin?
Immediate Bitcoin is an AI powered automated trading bot that claims to find profitable trading opportunities in the cryptocurrency markets through its proprietary algorithmic software. The platform claims to use pre-determined market data, charting patterns and social sentiments to have an edge on the crypto markets and find opportunistic trades. By synchronizing technical and fundamental analytics using its algorithmic technology, it claims to provide timely probable insights on market movement outcomes.
Investing in cryptocurrencies can be very daunting to navigate due to its volatility. Unlike traditional assets, it can be hard for investors to find information that affects different coin movements. Sourcing cryptocurrency signals and market data analytics can be tedious, and without adequate experience, predicting any crypto tokens market outcomes can be a difficult endeavor. The Immediate Bitcoin robot claims to solve that by using algorithms that are programmed to take advantage of fluctuations in supply & demand from different cryptocurrency exchanges. It allows summarizing and segregation of data on crypto tokens using real-time market insights from the exchanges.
Immediate Bitcoin claims trusted performance by integrating with major exchanges such as Coinbase, Binance, Kraken, Poloniex and Bittrex, however, we could not find information anywhere on those platforms’ sites or social channels about the integration. This potentially raises questions as to its transparency, querying which market makers the trading robot is accessing liquidity and where it is facilitating arbitrage to settle users trades from.
Scam or Legit: Lack of credible information available to confirm Supported Assets Cryptocurrencies Minimum Deposit $250 Trading Fees None but may have fee incorporated through arbitrage Withdrawal Time 24 hours Customer Support Available 24/7 via email or phone
Your money is at risk
How To Use Immediate Bitcoin in 2023
The Immediate Bitcoin platform claims to offer a simplistic user-interface. It also claims it is targeted for beginner investors seeking easy non-stringent access to trade in the cryptocurrency markets. In order to use the Immediate Bitcoin app users must register according to the steps below.
1. Register for an Account
Users will need to fill out the registration form on the home page. Registering is quite simple and requires only a few pieces of information which include full name, email address and phone number.
2. Fund your Account
Immediate Bitcoin requires a minimum deposit amount of $250 to get started with using the platform. Once you have registered, you will be required to deposit the minimum amount of $250 and can use various payment methods to do so. The Immediate Bitcoin Platform makes this a seamless process by offering various ways to deposit including credit/debit card, bank transfer, PayPal, and mobile based methods such as GPay and Apple Pay. Please bare in mind that when making payments in a different currency to your primary account, currency conversion fee and/or international transfer fees may be charged.
3. Use the Demo Trader to Practice Trading
Immediate Bitcoin allows users to practice trading and test out the various charting and analysis features of the platform using a demo account. This is only available to users who have fully registered and activated their account by making the minimum deposit. However, seeing that the platform’s primary target clients are beginners, using the demo account can help with getting familiar with trading and navigating the trading platform.
4. Start Live Trading
Once you are comfortable with the platform and have navigated the functions and features you can go ahead and start to trade in live form. The demo account allows users to trade in real-time, therefore, users will get a similar experience with market movements and fluctuations. It is important to mention that it is common for investors to put aside emotions when trading and only trade based on factual information and statistical market data.
How To Close an Immediate Bitcoin Account
The platform does not state anywhere on how users can close an account. They do, however, they have 24/7 support agents that can be reached for any queries. If they wish to close an account users should reach out the support agents who should be able to assist accordingly.
How Does Immediate Bitcoin Work?
Immediate Bitcoin uses artificial intelligence in order to track prices of cryptocurrencies across various exchanges to find arbitrage opportunities. The platform claims its algorithmic technology assesses supply and demand across exchanges. This technology is used to find gaps in the pricings of bids and asks to find opportunities for profit. It operates in similar fashion to other AI stock pickers that present automated trading features. However, it must be noted that upon searching on the exchanges websites and chat groups we could not find any verification that Immediate Bitcoin had partnered with them in an official manner. The platform may be connecting to those exchanges via public API in order to track price movements.
Pros and Cons of using Immediate Bitcoin
- Updated AI models for market analytics.
- Tracks exchanges for arbitrage opportunity.
- Users can trial the platform with a demo account.
- Simplistic registration process.
- Mobile app availability on iOS and Android.
- Not regulated in any jurisdiction.
- $250 minimum deposit requirement.
- Lack of information and reviews online.
- No insights on founders.
Immediate Bitcoin Key Features
The Immediate Bitcoin app presents various features that offer users an easy way to trade in the cryptocurrency markets. While the website states that it uses its AI technology which integrates with various exchanges to assist its automated trading functions. Below we will cover the various features that were used by our experts.
AI technology has developed greatly in the recent years. Many trading platforms are leveraging artificial intelligence as a quick method to gather data and analytics on market movements. Immediate Bitcoin states that it uses its proprietary AI to track leading crypto exchanges price differences across the best cryptocurrencies and find profitable arbitrage opportunities. It is unclear how they programmed the parameters that the AI should follow. Users should always keep an eye on the trading activity to ensure the algorithm is performing as it should. Cryptocurrencies are volatile and price changes can happen quite quickly meaning that if Immediate Bitcoin is not updating the parameters that the algorithm should follow, then it could potentially present false information through faults in the algorithm.
Automated Trading Tools
Immediate Bitcoin does not actually mention anywhere that it has an automated trading function, although reviews on the website state that users had positive experience using their system and educational support. This could mean that the platform uses AI to analyse market opportunities and guides clients to place trades when opportunities are presented. When reviewing the platform, we found mixed information. Some sources claimed that Immediate Bitcoin is an entirely automated platform whereas others claim that it is merely a signals provider.
Demo Trading Account
Immediate Bitcoin allows users to have the benefit of using a demo account before actually trading with real funds. However, users must first activate their account by funding it with the minimum deposit amount. Demo trading allows new users and inexperienced traders to get a feel of the trading interface, to explore the various charting indicators and to practice trading with virtual funds. This provides a method of getting to know the platforms functionality and to test strategies without risk under real-time market conditions.
The Immediate Bitcoin platform provides a user friendly interface and seamless trading experience. While some trading platforms are difficult to navigate for beginners, looking at the reviews on their website users can expect dedicated support and education for their trading queries.
Users of Immediate Bitcoin are provided with dedicated customer support. This is only available to registered users with activated accounts. The platform also provides customer support contact through email or via phone.
Immediate Bitcoin Claimed Success Rate
On the platform's website it claims that users can make up to 60% profit daily through using "the world's most intelligent crypto software". While this is a very bold claim we could not find any information about the developers of the software or if it is a white-labelled solution. The platform also claims to provide a 98.9% success rate to all members of their private group. While these are both very high profit margins, it can only be evident through trialing the system to it would be best practice to use a demo account with paper funds to see its performance and results.
Real-time Market Data and Analysis
Immediate Bitcoin states that its software tracks data from some of the best crypto exchanges. These exchanges include Coinbase, Binance, Kraken, Poloniex and Bittrex. These are leading crypto trading platforms with good amounts of trading volume and users worldwide, which are likely to be the best for getting real-time market data from. API's for exchanges are readily available to use in an open-source manner and any company is able to use them to integrate price tracking features on their platforms.
Immediate Bitcoin Trading Platform Fees
Trading platforms usually charge trading fees, commissions and associated fees for managing accounts. While some trading platforms offer free deposits they may charge for withdrawals as payment processing incurs transaction costs from providers. A lot of popular trading platforms have no fees, however, earn money through incorporating small margins in the buy and sell price spreads of assets offered.
Trading Fees and Commissions
According to the official Immediate Bitcoin website, a 2% commission is charged on each trade. This is relatively low compared to some other platforms. However, traders on a budget may want to consider a zero-commission alternative such as eToro.
Deposit and Withdrawal Fees
There are no deposit or withdrawal fees that we could find that Immediate Bitcoin charges. However, banks usually charge when making international currency transfers and usually their rates of currency conversion are inflated. Users should be aware that you may be charged international transfer fees or be subject to a conversion rate that is higher than the daily market standard.
Account Management Fees
It is not stated anywhere about any account management fees. Upon our search of reviews none mentioned anything about any account management fees whatsoever.
What is the Minimum Deposit for Immediate Bitcoin?
The minimum deposit amount to start using Immediate Bitcoin is $250. This is not a payment and will be in funded in the balance section. Users are able to use the initial deposit to trade with.
What Are The Risks of Using Immediate Bitcoin?
There are a number of risks involved with algorithmic trading platforms. Especially when they are not regulated under any jurisdictions by financial authorities. Immediate Bitcoin is unregulated and the lack of information available about its founders and operations leaves some aspects of concern. Also, with little information available about its trading model, it can be risky to start trading with a large investment. In this case it would likely be best to trial the platform with a small amount, and test out the demo trading functions while also contacting customer support to assess its legitimacy.
There are also risks with artificial intelligence, while it has developed quite a lot over the last couple of years, errors can still occur. One primary issue is if the AI is as fast as it is claimed at tracking market movements. Such events such as a black swan can cause a liquidity crisis. If parameters are not set correctly, the algorithm could end up working against traders causing severe losses.
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Is Immediate Bitcoin a Scam or Legit?
When assessing if Immediate Bitcoin is a scam or legit we should consider all the aforementioned risks. Firstly, there is a lack of transparent information about the platform and its operations. Due to it being a new platform, there are limited user reviews available online. While the platform has reviews on its website, we cannot be confident if those are real users or paid reviews. There is little insight as to where the company is based and who the founders are. This leaves us with skepticism if this is a legit platform or one that has questionable practices.
Our Verdict on Immediate Bitcoin
Concluding our review of the Immediate Bitcoin platform we have covered the various claimed features the trading app provides. These include artificial intelligence price tracking to take advantage of arbitrage opportunities across different cryptocurrency exchanges. The platform states it provides charting indicators and trading analysis tools, however we could not validate if they are provided. There are clear drawbacks with the lack of user reviews available online. However, the fact that they offer a demo account allows traders to try the services before investing any capital.
We could not find any lead to the company, where its operations are located or any idea about its founders. Likely this is due to them operating a financial investment platform while not being regulated. Users should also understand that while the platform is not regulated there is no protection of user funds. Should traders incur losses or there is any malfunctioning of the platform they will not be able to receive compensation. With there being no idea of the founders, users should evaluate whether this platform suits their risk appetite before investing. If you wishg to trial the platform, using the demo account with virtual funds is a solution while also contacting support to ask any further questions you may have.
It is always good to remember that trading in financial markets is a risky endeavor. While platforms can claim good success rates and some people may be successful with their trading strategies, ultimately there is no guarantee of definite profits.
Your money is at risk.
Is Immediate Bitcoin a scam?
Who created Immediate Bitcoin?
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