Apr 15, · So, the point is that while Bitcoin is a real thing and there is no scam in it; the Bitcoin Trader is % of a scam and there is not an inch of it which is real. What does the Bitcoin Trader Claim? The claims present on the website of Bitcoin Trader scam are . Mar 22, · Ninety-five percent of spot bitcoin trading volume is faked by unregulated exchanges, according to a study from Bitwise this week. The firm analyzed the top 81 crypto exchanges Author: Kate Rooney. May 06, · The Bitcoin Trader is a fully automated algorithmic trading tool designed to trade the emergent cryptocurrency market. The tool works by targeting volatility within the market with laser accurate performance. They boast a % accuracy rate and the ability to double, triple and even quadruple your money in only a few trades.
Is bitcoin trading realBitcoin Trader Review Is it really a scam or legit? 🕵️ We investigate
MiningMax's domain was privately registered in mid, and had a binary compensation structure. The fraudulent crypto-currency scam was reported by affiliates, resulting in 14 arrests in Korea in December of Korea has long been a leader in technological developments - bitcoin is no exception. However, after recent controversy, it seems as though this is changing. The biggest challenge facing bitcoin now is the potential for misuse, but that's true of any new technology.
A classic but no less dubious scam involving bitcoin and cryptocurrency is simply, well, fake currency. One such arbiter of this faux bitcoin was My Big Coin. Essentially, the site sold fake bitcoin. Plain and simple. Among other things, the site fraudulently claimed that the coin was being actively traded on several platforms, and even mislead investors by claiming it was also partnered with MasterCard, according to the CFTC case.
Still other scammers have used ICO's - initial coin offerings - to dupe users out of their money. Along with the rise in blockchain-backed companies, fake ICOs became popular as a way to back these new companies.
However, given the unregulated nature of bitcoin itself, the door has been wide open for fraud. Most ICO frauds have taken place through getting investors to invest in or through fake ICO websites using faulty wallets, or by posing as real cryptocurrency-based companies. The company was sued for misleading investors and lying about products, among other fraudulent activities.
The U. The website allegedly used links on a legitimate website Bitcoin Gold to get investors to share their private keys or seeds with the scam, as this old screenshot from the website shows. Bitcoin Gold, the site's wallet used in the scam, began investigating shortly after, but the site remains controversial.
Still, firm released a warning to bitcoin investors. Following this basic rule of private key management greatly reduces your risk of theft. While this type of scam is certainly not relegated to just bitcoin thank you for the education, "The Wolf of Wall Street" , a pump-and-dump scam is especially dangerous in the internet space. The basic idea is that investors hype up or "pump up" a certain bitcoin - that is usually an alternative coin that is very cheap but high risk - via investor's websites, blogs, or even Reddit, according to The Daily Dot.
Bittrex, a popular bitcoin exchange site, released a set of guidelines to avoid bitcoin pump-and-dump scams. While "stackin' penny stocks" may sound like an appealing way to earn an extra buck thanks to its glamorization by Jordan Belfort , messing in bitcoin scams is nothing to smirk at.
And what about Bitcoin price constantly rising? On the same website that posted that stellar review, you will find people in the comments praising the results of Bitcoin Trader:. And pigs fly.
The material was quickly taken down by the websites but I believe some people still got duped. Beware of Fake News! Check facts. More recently, fake articles emerged, claiming that Andrew Forrest Chairman of Fortescue Metals Group was somehow involved with Bitcoin trading robots and that he endorsed investments in such apps. Google soon removed the fake add after being alerted to it by The Australian Financial Review but this all goes to show that you should pay extra attention to all cryptocurrency app endorsements that appear to come from major financial figures or well-known personalities.
Last but not least we have pop-ups. The Bitcoin Trader Sucks because it is nothing but hype. There is not a single bit of reliable information on the site, and it directs you to a crappy binary options sales funnel directed at the lowest of the low-class brokers.
Is Bitcoin the hottest market in financial trading? Is Bitcoin making people rich every day? Is the Bitcoin Trader a good tool to help me on my way? Hell no. This is a pure scam and one that skips the step of hooking you up with an actual autotrader, you know, the tool the whole thing is advertising? PS, I got an email as soon as I signed up offering me free 1 on 1 training with my very own trading professional. Bitcoin Trader.
It does not involve any complicated procedure. You just need to go through a simple registration process and verify your account and then commence with funding with real money for starting trading live. Now, let's get into the pricing models. Not every similar platform offers a similar pricing structure. In most cases, it becomes obligatory to pay a fixed commission each month in order to keep the account open on the website.
There are other cases as well, where it becomes very much mandatory to rent the bots that make the trading in their place. For your information, you can get a third model as well, but it is actually quite famous among firms that issued tokens at the time of an ICO initial coin offer. You have to buy the native token of the service if you want these services and hold a particular sum to use several bots and features on the site. You can get to configure the bots easily if you are prepared to pay for these commissions.
Once you are done with the needful, you only have to wait and expect your balance to rise. The Bitcoin System actually cooperates with various robot brokers whose responsibilities are inclusive of smoothing the path of transaction and leverage and the management of deposits. Do not think of robots as a financial establishment, and that is why it does not possess any legal instruction for managing deposits.
Brokers come up with leverage up to In this review of the Bitcoin System, here's a little inside on how you can create an account with this crypto trading robot. This is just for clarifying to the readers whether it is really that simple or not. Let's jump right into it. The first thing to do to use the Bitcoin System is to make an account. You can get a form to fill up on the right side of their official page. Enter your name and email address. Put a security password which should be strong enough.
The final step here is to select your nation of residence and provide your phone number. Do not forget to put the proper international prefix before the phone number. This would allow you to start trading in the demo even before you make any deposit.
After you are done with creating your account on the platform of the Bitcoin System, you get to test it in demo mode. Here you will get 1. For this, all you will be left to do is to just click on the "Go to demo" button. You can spot that on the left side of the page.
You will get to spot three items at the top left which are total balance, total profit, and profitable functions. Click on the "Auto Trade" button that you will get on the right side of the page. You have to hit that button in order to start with your very first crypto exchange in demo mode. After a while, you will find several operations carried out by the platform bots.
Examine the outputs and decide whether it is fine to spend your money on the Bitcoin System keeping in mind that trading cryptocurrency always carries high risks.