Martingale Usually Works In The Short Run.
I think the tipster is a bit too confident with his picks, as he is basically betting that he won't lose 2 consecutive bets. You should consider lowering your bet at least so you can sustain 3 losses in a row.

Nope. You can martingale with any multiplier, including x1.01. You just need to change how much you increase it by. If you use x1.01, you would need to increase your bet by 10000% (x100) when you lose to win back your loss and and gain the original profit back. If I bet 100 satoshis at x1.01, and lost, I would then bet 10100 satoshi which if it won, I would win 101 satoshis making my net profit (assuming this is the first 2 bets) 1 satoshi.