Bitcoin Loophole is one of the better-known bitcoin trading platforms and bots. This means that it provides a single location for traders to buy and sell their bitcoins, as well as giving them access to powerful algorithms that help them place orders automatically and even anticipate the market.
Bitcoin Loophole promises to help professional bitcoin traders make even more money from their investments, while also providing a simple one-stop solution for new traders looking to get started in the world of bitcoin.
So, is Bitcoin Loophole a good place for you to start buying and selling bitcoin? Is this a good way to make money in 2020? Let’s take a closer look at this platform in our Bitcoin Loophole review.
The Basics: What is Bitcoin Loophole ?
Like other platforms of its ilk, Bitcoin Loophole is a trading site that allows you to buy and sell bitcoin through a single interface, while also providing a powerful bot to perform actions on your behalf.
When you log in, you’ll find a simple UI where you can view bitcoin and other cryptocurrencies that you wish to purchase. You can then make sales manually, or you can define set parameters for the bot to act on your behalf.
(Not sure what this means? We’ll get to that in a moment!)
Bitcoin Loophole is not a broker but rather acts as a “broker broker!” That is to say, that the site will let you purchase bitcoin through other brokers. And because you can choose multiple brokers from a single site, you can make sure that you are always getting the best deal.
We’ll break down the features and pros and cons in more detail in a moment. But in brief: this site had us impressed with its wide range of features, simple and intuitive interface, and great customer service. If you’re looking for a place to trade bitcoin, this is a great choice!
Is Bitcoin Loophole a Scam?
One of the most important questions to ask when using any trading platform or bot, is whether the company can be trusted. They’ll be looking after large amounts of your hard-earned cash after all!
Fortunately, Bitcoin Loophole is absolutely a legitimate business and one that we’ve had nothing but positive experiences with. While we couldn’t find that much information about the company behind Bitcoin Loophole, the site is used by many of the top traders and has been in the business for a while.
How it Works
To start with, let’s take a look at the basics. What is bitcoin?
Bitcoin is a cryptocurrency. That means that it isn’t actually based on the value or quantity of gold like traditional forms of currency. Instead, bitcoin is based upon algorithms. Each time someone buys something with bitcoin, that transaction is added to a permanent ledger which is known as the blockchain. It is highly important that this ledger is up-to-date, accurate and secure, as that is how the value of bitcoin is controlled.
Thus, encrypting this information requires a huge amount of processing power. This is where ‘bitcoin mining’ comes in and with enough time and the right software and hardware, anyone can encrypt bitcoin transactions and will yield a small amount of money in exchange.
So how do you get bitcoin? Two options. One is that you take part in this mining process, which is how new bitcoin are generated. The other option is that you simply buy bitcoin from someone else. This option is a lot easier – especially as bitcoin mining becomes increasingly difficult and is now generally not considered viable as a way for people to get cash. It’s thought it will take 100 years until the remaining bitcoin value is mined.
Buying bitcoin on the other hand is much more straightforward and all you need to do is to head over to a site like Bitcoin Loophole or another, where you can pick up cryptocurrency and then trade it just like you might trade Forex.
But seeing as cryptocurrency is abstract and not tangible in the same sense as real money, how do you keep a record of it? How do people know how much money you have and where do you ‘put it’.
Well that’s where the ledger comes in, but bitcoin is also managed by bitcoin wallets or ‘cryptocurrency wallets’. These are used to store bitcoin and that means that you can withdraw and spend it in just the same way that you would withdraw and spend money from a conventional bank account.
Again, this is provided by Bitcoin Loophole – meaning that you don’t need to actually withdraw the Bitcoin. Rather you simply withdraw the cash value of the Bitcoin when you’re ready to trade.
To withdraw you just buy back the local currency, or you buy something of value.
Why You Should Trade Bitcoin?
There was a time when everyone was excited about bitcoin mining. It seemed that there finally was a way that people could genuinely print money, and that was an exciting opportunity for all involved.
But the nature of bitcoin is that it becomes harder and harder to mine over time. As the blockchain gets fuller and fuller, so does encryption require more time and more computing power. It now takes longer than ever to make just a small amount of bitcoin this way, which has led many to think that it’s ‘game over’ for bitcoin as a viable way to earn some money.
That is not the case at all. Rather, this all just means that you need to change the way you think about bitcoin and approach it as an opportunity.
It may no longer be particularly viable to mine bitcoin for profit, but that is not to say that you can’t make money from it by trading. This works in just the same way as trading Forex: you buy when the value of bitcoin is lower and you sell when it’s higher.
What makes bitcoin especially great for investors though, is the fluctuating market value. That is to say that bitcoin changes its value rapidly, meaning there are lots of opportunities for you to buy at one price and then sell for a profit.
While we tend to think of good investments as being those assets that are stable. This is because we have been primed to think in terms of long-term investing. But Bitcoin is not the best choice for long-term investing. Rather, it is better suited to short-term buying and selling that can help you to make quick money – like a day trader.
Thus, we actually want more volatility in the market to get the best earnings!
Bitcoin Loophole Features:
Bitcoin Loophole offers relatively standard accounts with a minimum deposit of $250 (not prohibitively high for new traders). This is a great feature as it means that you don’t need to invest half of your assets to start experiencing Bitcoin trading! This is especially good news for beginners.
Also useful is the demo account. This means that you can start trading with “hypothetical” purchases to see what you would have earned. This is another very useful feature for new traders, as it means they can learn the ropes and build confidence before spending any real money.
When choosing a trading platform, making sure that they offer reliable and helpful customer support should always be one of the very most important priorities.
Bitcoin Loophole fortunately provide excellent customer support. They are always fast when responding and are very knowledgeable and helpful when it comes to making suggestions and giving ideas. They provide support at every time of day around the world via email, chat and phone.
Bitcoin Loophole provides a ton of extras in the form of live market news, webinars and e-books to help improve your trading abilities.
Deposits and Withdrawals
Depositing and withdrawing money is incredibly easy with Bitcoin Loophole. They accept debit and credit cards as well as a number of other methods. They are very quick to process withdrawals too and in most cases you’ll have the money in your account within 5 days – much better than some of the competition.
Binary Option Trading
One of the coolest features of Bitcoin Loophole is the option to use binary trading.
So what is binary option trading? This is another financial concept that might seem a little abstract on the surface but has some very real world benefits for those able to wrap their heads around it.
Basically, binary trading is a form of trading on the stock market that allows you to buy and sell ‘options’ rather than the shares themselves. What is binary options Trading ? Instead of getting an amount of money back from your investment based on how much the value of the stocks rose or fell, you’re instead getting a pre-agreed amount of money if the stock meets certain criteria. No longer are there shades of grey, it is ‘binary’ in that you either get a pay out, or you don’t.
You do this by ‘calling’ and ‘putting’. Calling means that you estimate that the value of the stock is going to go up. As long as the stock is the same or higher than the ‘strike price’ you will receive a pre-agreed payout. If it’s not, then you don’t earn anything. A ‘put’ meanwhile is the right to sell an underlying commodity at strike price. What this means is that you’re predicting that the value of the share will fall and that you’ll thus be making a profit by selling it at that price.
Ultimately, you are predicting whether the value will go up or down by a certain set period and that is the only information you need to give. If you use binary trading using an app then, this becomes as simple as just hitting ‘call’ or ‘put’ as each option is flashed up in front of you. That means you can make money very quickly and without needing to learn huge amounts of financial jargon!
Bitcoin Loophole allows you to trade bitcoin options – in other words you can bet on the value of bitcoin going up or down. This is a fascinating option for those who like to stay up-to-date with the latest technologies and development and certainly shows just how much the web is changing our lives. For an age we’ve been trading on the value of national currencies but now for the very first time we’re trading on the value of an entirely digital trading system.
Who knows, perhaps this is the “loophole” in question?
As with any bitcoin trading bot, one of the big appeals of Bitcoin Loophole is the ability to make automated trades. This means you can set parameters for when you want Bitcoin Loophole to purchase or sell bitcoins. That in turn means that you can trade 24/7 and while you are at work, or asleep, it can be buying and selling bitcoins on your behalf to make you money. It does this with more speed and efficiency than a human could possibly muster, and especially thanks to powerful algorithms based on market records that allow it to anticipate movements in the value.
This essentially gives you superhuman foresight and reaction times – which are invaluable when it comes to acting extremely quickly on the slightest deviation in the value of the bitcoin.
Currencies and Brokers
As mentioned, Bitcoin Loophole allows you to use multiple different brokers, which lets you easily find the best price for your currencies. What’s more is that it supports multiple cryptocurrencies, so you can create more opportunities to buy and sell.
Conclusion: Our Review about Bitcoin Loophole
Overall, the fast interface and mobile-friendly website makes Bitcoin Loophole a pleasure to use. However, it’s the large range of features that give you a real edge over the competition. More than that, it is the trustworthy brand name and the excellent customer service that make this an easy recommendation.
With so many sub-par platforms and bots out there, Bitcoin Loophole is simply one of the best places to buy and sell Bitcoin on the web.