bitsoft logo Bitsoft 360 is a new automated cryptocurrency trading platform that claims to use AI and algorithms to find profitable trades. But does it deliver on its promises or is it just hype? This detailed review provides an unbiased assessment to help you decide.

Overview of Bitsoft 360

Bitsoft 360 markets itself as an automated trading app powered by artificial intelligence (AI) to find money-making opportunities in the crypto markets.

According to the website, it scans over 1600 cryptocurrencies 24/7 and enters trades automatically when its algorithms detect potential profitable setups. It also promises a high win rate of 90%.

How Does It Work?

While Bitsoft 360 executes trades automatically via AI, users can customize parameters like:

Cryptocurrencies to trade
Amount to invest per trade
Risk management rules
Profit targets
Stop losses

The algorithms then monitor the markets round-the-clock within those parameters. When opportunities arise that match your settings, the bot will automatically enter and exit trades for you.

This takes the emotional aspect out of trading and ensures you never miss out on good trades when sleeping or busy with other tasks.

Key Features

Some advertised benefits include:

90% accuracy – Extremely high claimed win rate
24/7 trading – Never miss opportunities even when sleeping
Risk management – Stop losses to prevent huge losses
Large asset selection – Over 1600 cryptocurrencies
Global access – Useable worldwide with a few exceptions

But are these claims believable or mere marketing hype? Let’s analyze further.

Indexuniverse recently reviewed the automated cryptocurrency trading tool Bitsoft 360 on their website.

Their detailed analysis covers key areas like how the platform works, credibility factors, pros and cons, tips for use, and more.

If you’re interested in their complete independent assessment, head over to Indexuniverse.eu to read the full Bitsoft 360 review.

The review aims to provide an unbiased perspective to help investors make informed decisions about the platform.

Indexuniverse focuses on delivering transparent, objective information to crypto traders and investors. Check out their site for this and other crypto product reviews.

Assessing Bitsoft 360’s Credibility

While Bitsoft 360’s website displays much promotional information, there are a few gaps that need scrutiny.

Who’s Behind It?

The owners are not disclosed, only described as „professional traders and software developers“. This lack of transparency is concerning. Legitimate organizations should provide full disclosure.

How to Get Started With Bitsoft 360

Interested to give Bitsoft 360 a try but unsure where to begin? Here’s a step-by-step walkthrough to get started:

Step 1: Create Your Account

First, visit the Bitsoft 360 website and complete the account registration form. You’ll need to provide your name, email address, and phone number.

Double check that you’ve entered everything correctly before submitting. You should receive a confirmation email shortly after to verify your address.

Step 2: Demo or Live Account

Once registered, you can now choose between a practice demo account or real account.

The demo account lets you test drive the platform with virtual funds to familiarize yourself. The live account requires an initial deposit to begin real trading.

If new to crypto trading, it’s advisable to use the demo first. But keep in mind demo conditions may not exactly match live markets.

Step 3: Fund Your Account

To trade actual cryptocurrencies, you’ll need to make a deposit of at least $250 into your live account.

Bitsoft 360 accepts payments through debit/credit cards, e-wallets like Neteller, or bank transfer. Compare any fees your method may incur.

Start small to assess performance before committing more capital. It’s easy to scale up deposits when ready.

Once funded, you can configure your trading settings and let the bot take over!

Tips For Managing Risks

Crypto trading carries substantial risk. Here are some tips to help manage risks effectively when using Bitsoft 360 or any trading bot:

Diversify – Spread capital across multiple assets and markets to avoid overexposure. Don’t put all eggs in one basket.
Use stop losses – Set stop losses on all trades to contain losses on losing positions. Adjust levels to your risk tolerance.
Limit position sizes – No single trade should risk more than 1-2% of your account value. This ensures you can survive a losing streak.
Monitor regularly – Check in frequently to ensure the bot is performing well and as expected. Don’t just set and forget.
Know your exit plan – Determine exit rules for cutting losses or taking profits before entering trades. And stick to them!
Educate yourself – Build your trading knowledge. Never rely on any software fully without understanding what it’s doing.

Tax Implications of Crypto Trading

It’s easy to overlook taxes when caught up in trading excitement. But tax obligations apply to crypto trading gains in many jurisdictions.

Here are some important points to keep in mind:

Crypto profits are subject to capital gains tax in most countries when realized. Tax rates vary.
Taxable events include selling crypto for fiat, trading one coin for another, and using crypto to buy goods/services.
Keep detailed records of your cost basis, acquisition dates, sale prices, and fair market values of all transactions. This supports cost basis calculation and helps minimize taxes legally.
Never attempt to hide crypto activity from tax authorities, as blockchain records are permanent. Tax evasion carries steep fines and penalties.
Consult a tax professional to understand your specific obligations based on country and trading volume.

Unsupported Claims

Many advertised benefits like the 90% win rate are not backed by proof. There’s no account analytics to verify performance.

Without evidence, it’s wise to be skeptical of these lofty promises.

Fake Celebrity Endorsements

Bitsoft 360 is falsely promoted online using fake celebrity endorsements from the likes of Elon Musk and Martin Lewis.

Real testimonials and endorsements provide social proof. The use of fake ones here is unethical.

While not outright scams, these areas warrant caution when assessing Bitsoft 360. Let’s look at balancing pros and cons.

Bitsoft 360 Pros and Cons

Pros

Innovative AI-based trading concept
Good trust rating on TrustPilot (3.5 stars)
Low minimum deposit ($250)

Cons

Owners are anonymous
Many bold claims without proof
Misleading celebrity promotions
High risk with unregulated cryptocurrencies

The pros indicate Bitsoft 360 could have potential if executed properly. But the lack of transparency and ethics around promotions raises some red flags.

Proceed with care if interested, and never risk more than you can afford to lose.

Best Practices for Success

If you decide to try Bitsoft 360, here are some tips:

Start with minimum deposit to test it out
Monitor performance closely for first few weeks
Customize settings conservatively initially
Never invest more than you’re willing to lose

Adjust strategy based on real account results, not marketing promises. And learn crypto trading basics to make informed decisions.

Bitsoft 360 may prove worthwhile for some crypto investors. But exercise caution and manage risks.

Research thoroughly and use common sense before committing significant capital.

Frequently Asked Questions

Is Bitsoft 360 fully automated?

Yes, once parameters are set it will automatically trade without human intervention. But users should still monitor closely.

What is the minimum deposit?

The minimum to start is $250.

What fees are charged?

No trading fees, just the spreads and commissions of the connected broker.

Is Bitsoft 360 a scam?

There are some concerning areas like anonymous founders and fake endorsements. While not an outright scam so far, proceed with caution.

Can Bitsoft 360 be used worldwide?

It accepts most countries, but notably excludes users from the USA.

What cryptocurrencies can I trade?

Bitsoft 360 allows trading top coins like Bitcoin, Ethereum, and over 1600 altcoins.

Can I customize settings?

Yes, users can set their own parameters for assets, amounts, risk rules, and profit goals.

Is there a mobile app?

There is no dedicated mobile app, but the web platform can be accessed from any device.

How long do withdrawals take?

Up to 24 hours in most cases.

Can I start with a free demo?

No demo or free trial is currently available. You need a real money deposit to gain access.

The Verdict?

Approach with caution.

Bitsoft 360 shows potential but has some credibility issues to resolve. While not an outright scam so far, treat marketing claims with skepticism.

Try with minimum funds first and see if actual results match promises. Manage risk carefully as crypto trading is volatile.

With prudent precautions, Bitsoft 360 may appeal to speculators comfortable with its unproven status. But best to wait for more honesty and transparency before committing significant capital.

The choice is yours. Research thoroughly and let logic guide your decisions.