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Bitcoin System Review UK – Scam or Legit?

Using an automated Bitcoin trading platform is one of the best ways to get in on the cryptocurrency boom. If you’re based in the UK, Bitcoin System promises to help you turn a small initial investment into thousands of dollars a day using its custom auto-trading algorithm.

In short, the platform offers a ‘guaranteed’ return of $13,000 from an initial investment of just $250. What’s more, Bitcoin System says it can reach that return in just 24 hours.

That sounds almost too good to be true, which raises the question of whether Bitcoin System is a scam or legit. In our Bitcoin System review UK, we’ll help you decide whether this automated crypto trading service can help you earn a passive income from Bitcoin.

What is Bitcoin System?

Bitcoin System is an automated cryptocurrency trading platform. The service is based on a proprietary robo-trading algorithm, which buys and sells cryptocurrency on your behalf.Bitcoin System Homepage

The exciting thing about Bitcoin System is that it takes almost no work on your part. The robo-trading algorithm automatically recognizes profitable trading patterns, and buys or sells digital currencies when those patterns develop. It also closes the position based on specific trading signals.

As a result, Bitcoin System can operate 24/7 and generates completely passive income for you. While the algorithm doesn’t win every trade, Bitcoin System notes that it’s designed to win the vast majority of trades for consistent profits. In fact, the platform claims that it can guarantee a $13,000 return on just a $250 investment within 24 hours.

There are both positive and negative reviews of Bitcoin System, so it’s worth digging into this platform more. Be cautious when starting out with Bitcoin System or any other automated Bitcoin trading platform.

Bitcoin System Services

Bitcoin System only offers a single service: automated cryptocurrency trading. This platform is not a stock broker or Bitcoin exchange, and in fact requires you to set up an account with a third-party broker to trade. Bitcoin System buys and sells not only Bitcoin, but also Ethereum, Ripple, and Litecoin.

How Does Bitcoin System Work?

Getting started with Bitcoin System is fairly simple, especially since there’s very little you need to do to get the robo-trading algorithm working on your behalf. Let’s take a look at how you can start trading with Bitcoin System in just 5 steps:

Step 1: Register with Bitcoin System

The first thing you need to do to trade with Bitcoin System is register a new trading account. Head to the platform’s website and enter your name, email, and phone number in the form at the top of the page. Then click ‘Register.’Bitcoin System Registration

Step 2: Open an Account at a Partner Broker

Bitcoin System isn’t a broker, but rather an automated trading service. The funds that Bitcoin System trades with on your behalf must be deposited at a partner broker in a Bitcoin wallet that Bitcoin System has custodial access to.

Once you click ‘Register,’ Bitcoin System will match you with one of its third-party broker partners. Which broker you match with depends on your location and Bitcoin System doesn’t reveal the identity of the broker you’re using.

That’s a little suspicious, since it means you don’t know exactly where your money is going and there’s no way to confirm that the broker you’re using is regulated by any oversight body. Still, we were happy to find that the partner brokers that Bitcoin System uses require you to verify your identity. This means they comply with anti-money laundering regulations, a hallmark of registered and regulated brokers.

Step 3: Verify Your Identity

In order to verify your identity with the partner broker, you’ll need to upload a copy of your driver’s license or the photo page of your passport. You’ll also need to provide proof of address in the form of a recent utility bill or financial statement.

Most of Bitcoin System’s partner brokers can verify your documents instantly. In some cases, the verification step might require you to wait a day before you can start trading.

Step 4: Deposit Funds

Next, you can add funds to your new brokerage account. The funds in this account are what Bitcoin System’s auto-trading algorithm will use to trade on your behalf.

Bitcoin System requires a minimum deposit of $250 (equivalent to about £185). You can make a deposit by debit or credit card, UK bank transfer, or e-wallet. Credit, debit, and e-wallet deposits are available instantly for trading.

Step 5: Activate Bitcoin System

Now you can activate Bitcoin System to start trading. But before you do, we recommend testing out the platform with the included paper trading account. That way, you can familiarize yourself with how the auto-trading algorithm works and see whether it’s actually profitable without risking any money.

If everything checks out, you can turn on live trading. Just navigate to your Bitcoin System account dashboard and move the toggle from paper trading to live trading.

Bitcoin System Claimed Success Rates

Bitcoin System doesn’t say how accurate its algorithm is or the percentage of trades that it typically wins.

However, the service does point to a ‘guaranteed’ return of $13,000 in just 24 hours from an initial deposit of $250. That’s equivalent to a 5,200% return on investment in just one day. The platform also notes that it has generated over $18 million in profit over the past 6 months.Bitcoin System Benefits

Client Testimonials

Bitcoin System doesn’t offer live results, like some other automated cryptocurrency trading platforms do. But it does have gushing testimonials from users who report earning over $100,000 in profits in just a few months with the service. Several users wrote in after just a few days of using the service to report that the claim of $13,000 in 24 hours is accurate.

Of course, you should be somewhat wary of these testimonials. There is no way to confirm that they are truthful. Even if they are, Bitcoin System is incentivised to only display the most glowing testimonials on its site.Bitcoin System Testimonials

Bitcoin System Fees

Bitcoin System has a unique fee system that’s extremely generous for traders. The platform only makes money when you make money, by taking a 2% cut of profits from your account. Losing trades count against the net profit that Bitcoin System uses to calculate its fee, so you’re essentially given a break on fees every time the platform loses a trade.

So, let’s say you start with $250 and the platform returns $13,000 like it promises. In that case, you’d keep 98% of the profit, or $12,740.

Better yet, Bitcoin System doesn’t charge any account fees. There is no daily or monthly subscription fee and no requirement that you log in every day. Note that you may pay deposit or withdrawal fees, but these are charged by your broker, not by Bitcoin System.

Is Bitcoin System a Scam?

Bitcoin System promises a return on investment of $13,000 a day, starting with just $250 and with very little work on your part. That sounds almost too good to be true, so it’s important to take a hard look at this platform before signing up.

That said, we didn’t find any definitive signs that Bitcoin System is a scam. It is not possible to determine whether the testimonials that Bitcoin System presents are truthful, nor can we verify whether Bitcoin System actually produces returns of $13,000 per day as it claims. The biggest concern we have about Bitcoin System is that the platform doesn’t share the identity of the partner broker that you’re using for your account.Bitcoin System Founder

However, it’s important to keep in mind that Bitcoin System has been widely reviewed, in many cases positively. The reviews don’t indicate that Bitcoin System generates $13,000 a day, but they do give the impression that the platform is profitable and produces passive income as promised. It’s also a good sign that Bitcoin System has been around for several years at this point, which indicates that the platform works.

The best way to find out whether Bitcoin System works is simply to give it a try. You can get started with the service by depositing just $250 – around £185 – and there’s no risk if you stick with paper trading. If Bitcoin System isn’t what you’re hoping for, you can withdraw your money with no questions asked. If it proves to be as successful as it claims, you can switch to live trading at any time.

Bitcoin System App & Desktop Platform

You can access Bitcoin System online through an account portal. In the dashboard, you can see a history of what trades have been placed on your behalf and whether they’re turned a profit or loss. You can also get an overview of the robo-trading algorithm’s overall performance in your account and see your total available earnings.

Bitcoin System also offers a trading app for iOS and Android mobile devices. The link to download the app is available in your account dashboard after you register for Bitcoin System (the app is not publicly available in Google Play or the Apple App Store).

Bitcoin System Payments & Withdrawal

All payments and withdrawals for your Bitcoin System account are handled by your partner broker. Bitcoin System has custodial access to your brokerage account to trade on your behalf, but the platform cannot deposit or withdraw money to or from your account.

The payment methods accepted can vary among the brokers that Bitcoin System uses. However, the vast majority accept debit or credit cards, UK bank transfers, and e-wallets like PayPal. Most deposits are available for trading with Bitcoin System instantly. You can also withdraw funds at any time using these same payment methods, although withdrawals must be requested through Bitcoin System.

Depending on your broker, deposits and withdrawals may be free or there may be a small fee. Be sure to check your broker’s policy and fees during the registration process.

Bitcoin System Minimum Deposit

Bitcoin System requires a minimum deposit of $250, which is equivalent to around £185.

Bitcoin System Customer Support

Unfortunately, Bitcoin System doesn’t provide any customer support or contact information prior to registering. So, there’s no way to contact the company to find out more about the sign-up process or what you can expect once you register.

Bitcoin System does note that you get access to customer support details once you sign up for an account. However, there’s no way to confirm that this will happen and the level of support that the platform offers is unclear.

How to Use Bitcoin System

Ready to start using Bitcoin System to generate passive income? Let’s review how to get started in just 5 steps:

  1. Enter your name, email, and phone number to sign up for a new account
  2. Open a brokerage account with a Bitcoin System partner
  3. Verify your identity with a photo ID and proof of address
  4. Deposit $250 using a debit or credit card, UK bank transfer, or e-wallet
  5. Try out paper trading, then activate live trading when you’re ready

For more details, check out the ‘How Does Bitcoin System Work?’ section above.

Bitcoin System Pros and Cons

Pros

  • Passive trading system requires little effort
  • Promised $13,000 return in 24 hours
  • Get started with $250
  • Only takes a fee when you make money
  • Fund your account with a variety of payment methods
  • Withdraw your money at any time

Cons

  • Difficult to verify testimonials and performance
  • Hides the identity of your broker
  • No customer support information before registering

Bitcoin System Review – The Verdict

Bitcoin System is an automated cryptocurrency trading platform that promises traders in the UK a source of passive income. The platform offers a ‘guaranteed’ $13,000 in profits in just 24 hours, which is hard to pass up.

We found that Bitcoin System is positively reviewed and appears to be legit. However, you should approach this robo-trading platform with caution and start with paper trading before putting real money in the hands of the auto-trading algorithm.

Ready to get started with Bitcoin System in the UK? Click the link below to begin making passive income today!

Bitcoin System – Sign Up Today

Bitcoin System Logo

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FAQs

What is the minimum deposit at Bitcoin System?

Bitcoin System requires a minimum deposit of $250, which is equivalent to around £185.

Does Bitcoin System offer customer support?

Bitcoin System doesn’t offer customer support until you register for an account. After that, the company offers contact details, but doesn’t provide information on what hours support is available.

Does Bitcoin System have a mobile app?

Yes, Bitcoin System has mobile apps for iOS and Android. You can download the apps using links in your account dashboard.

Who is the founder of Bitcoin System?

Bitcoin System was founded by Steve McKay.

Is Bitcoin System regulated?

Bitcoin System is not regulated. Your funds are held by a third-party broker, which may be regulated by one or more government bodies.

All trading carries risk. Views expressed are those of the writers only. Past performance is no guarantee of future results. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate. This website is free for you to use but we may receive commission from the companies we feature on this site.
Michael Graw

About Michael Graw

Michael Graw is a freelance journalist based in Bellingham, Washington. He covers finance, trading, and technology. His work has been published on numerous high-profile websites that cover the intersection of markets, global news, and emerging tech. In addition to covering financial markets, Michael’s work focuses on science, the environment, and global change. He holds a Ph.D. in Oceanography from Oregon State University and worked with environmental non-profits across the US to bridge the gap between scientific research and coastal communities. Michael’s science journalism has been featured in high-profile online publications such as Salon and Pacific Standard as well as numerous print magazines over the course of his six-year career as a writer. He has also won accolades as a photographer and videographer for his work covering communities on both coasts of the US. Michael has been a member of the LearnBonds team since March 2020.