Dec 13, · What is Bitcoin Profit and is it legit? If you are asking yourself this question then you must have been illegally solicited to join the fake Bitcoin Profit (AKA BTC Profit) SCAM. Let’s start with the facts, the Bitcoin Profit SCAM is fake crypto robot which has been picked up by a variety of affiliate networks and media agencies. Banner-Peak, the broker Bitcoin Profit directs you to on their platform is a TOTAL SCAM. The accounts manager phoned and tried to cox me info investing more. Eventhough my initial idea was to invest more I wanted to be certain before doing so so I insisted and insisted on making the withdrawal.3/5(10). Bitcoin Profit is an automatic trading system which promises profits to its users. Bitcoin, the first digital currency has taken the world by storm with many people becoming first-time millionaires during the spike in Bitcoin prices in /5.
Is btc profit legitBitcoin Profit Review – Is it really a scam or legit? 🕵️ We investigate
Bitcoin Profit auto trading system is free, and it delivers with the same accuracy as subscription-based robots that are available in the crypto market. Further, it provides the user with a certain level of control, which is a standard feature in auto trading bots. It has numerous clones, which are the limitation. The verification system of Bitcoin Profit checks if the user information entered is correct while creating a new Bitcoin Profit account to make sure the traders will not have problems when they need to withdraw their profits.
To sign up, the trader needs to add some basic information, which includes email address, name, and phone number. No more personal details like bank account transaction details, trading history is required to be shared. Even though they will not earn high amounts in the beginning of their trading processes, some traders have reported that they have made profits, and they have reinvested to increase their profits.
The trader can make withdrawals anytime during the day, and it will be processed within 24 hours. In Remote cases, if it does not happen within 24 hours, it can take up to 3 days.
When compared to other robots that are available in the crypto market, which takes ten days to process a single withdrawal, the Bitcoin Profit withdrawal process is very fast, which takes 24 hours; or a maximum of 3 days. Moreover, the trading deposit is made in a few seconds through any of the payment options chosen by the trader.
This trading system is transparent, and the deductions are always precise. This is very helpful because the traders can contact the customer support team from any part of the world with different time zones. As per our Bitcoin Profit reviews, the customer service is very responsive and helpful. The system offers a section where the traders can write their trading experience with the Bitcoin Profit crypto trading system, where we can see them as a testimonial on their website.
The feedback offered by the website offers more insights about this platform and gives confidence to the new users to work on this platform. Bitcoin Profit trading system is monitored by reputed and professional brokers who check the transaction chosen by the trading software to make sure they are profitable. Bitcoin Profit auto trading system claims that it has generated good profits and helped people make money in large amounts. The platform is very simple and easy to use, and more traders have written good testimonials on their website.
As per our Bitcoin Profit reviews, we suggest that after registering for a new Bitcoin Profit account on this crypto trading system, new traders should use a demo account before proceeding with the live account.
This will help the traders to avoid the risk of losing money. Bitcoin Profit auto trading system is helpful for beginners and experienced traders who would like to invest and trade in cryptocurrencies, and they do not have the time for manual trading. Few tips for beginners are described below. One should keep in mind that Bitcoin Profit will not make the traders millionaire overnight, yet it can generate profit almost daily. We have suggested a few helpful tips for new users who are looking to earn a passive income from trading in the cryptocurrency market with the help of this cryptocurrency trading system.
Bitcoin Profit appears to be a legitimate automated trading robot. New users should start to use Bitcoin Profit with a minimum investment to test their luck and the software.
They should keep in mind that even though Bitcoin Profit claims to have a very high win rate, there are a lot of fluctuations happening in the cryptocurrency market just like in other markets, for e. The trader should make use of the test account and ensure that they understand how the platform works before they start the trading process with the live account.
Further, this platform offers a demo trading to help new traders to set up the trading session, get used to trading techniques, and then start live trading. Besides trading on the demo account, the trader should take advantage of the tutorials and the customer service offered by Bitcoin Profit; acquire more knowledge and increase the chances of success score when trading on the platform.
The trader should always withdraw the profit and reinvest the initial capital and save their profit. Moreover, they should follow the cryptocurrency market trends by reading the trading news, articles, headlines regarding the crypto market. The user should not invest their money that they are not prepared to lose, and also, they should not invest their savings. This is because trading is subject to trading risks.
Owing to the fluctuations in the cryptocurrency market, the savings amount will disappear gradually. There are several benefits offered by Bitcoin Profit that have made the traders use this automated crypto platform. The most important one is that the trader does not need any prior knowledge of the trading field to use it.
Also, it simplifies every part of a trading session which includes purchasing and selling Bitcoin, a feature not found in any other cryptocurrency trading platform.
Users should keep in mind that this automated crypto software is free of cost, and it can be used at any time. When compared to any other auto trading platform, Bitcoin Profit does not ask the trader to complete several questions to create an account and set up his trading session. Registration in this platform is a simple process where the trader needs to provide necessary information like name, email address, and contact details, and the account will be created instantly without wasting time.
The platform does not charge any registration fee. Depositing funds in this platform is easy and straightforward. The account holder needs to select the preferred payment method from several options available. They need to enter the required details, and the process is complete. When compared to other automated crypto robots available in the crypto market, Bitcoin Profit allows fully automated trading, and the crypto traders can change the settings according to their requirements.
The trader can set predefined trading options and can be used to trade cryptocurrencies like Bitcoin, Ethereum, Litecoin, etc. Though there are several auto trading platforms available for trading cryptocurrencies, it is still a new invention, and many people find it difficult to trust.
It had received good reviews from the crypto traders, which confirms the high utility of this platform. Withdrawals at this auto trading robot can be made within 24 hours ; when compared to other Bitcoin autotrader available in the crypto market, which will take 5 to 7 days to process a withdrawal.
Live chat is also accessible, which makes the process stress free. The dedicated customer service helps the trader all around the world with different time zones to sort out their problems in a much faster way. As per our Bitcoin Profit review, the registration process is straight forward and takes just a few steps.
The steps are given below —. The second step would be to enter their first name, last name, email address, and register. The third step would be to choose a password with excellent strength. To register with the Bitcoin Profit platform online, the trader needs to create an account on its official website. When the trader had accessed the website, they need to fill out a form with the required information like full name, contact number, email address, and the country.
After creating the account, the crypto traders are assigned one of the partner brokers that are used by Bitcoin Profit to operate; and that should take the trader to their dashboard. When the trader accesses their dashboard, they can select a demo trade feature to test the content of the platform, or they can directly start trading with a live account.
We highly recommended traders of the Bitcoin Profit trading platform from checking many Bitcoin Profit reviews to use the demo feature before they start live trading.
It is not mandatory to go through the demo trials, yet it is recommended by us to use this account for trading crypto. By using the demo trading account, the traders can experiment with the platform and understand the functionalities offered by the platform. Besides, the demo option mirrors the real account of trading with Bitcoin. When the trader is confident enough, they can start the trading with the live account and start making more money with the help of automated crypto robots.
Bitcoin Profit trading software is free to use, yet the trader needs to invest a minimum capital amount with this broker to start trading cryptocurrencies. This amount will be used by this trading bot to execute the trades on behalf of the traders to earn a profit. The traders are requested to start with the minimum amount, collect the profits, and reinvest their capital.
Live trading is the most important step because this is where the trader tells the robot their trading strategy to execute the trades and how to operate. It is a reputed automatic trading platform where the trader can select the settings to be used as well as the trading pairs they want to begin the trading with.
When the traders have selected the settings, they need to save it, go to the dashboard and click auto trade on to begin the trading. There is not much information available on the background of Bitcoin Profit. It would be more helpful if there was more information available about the founders. It has been remarked as a scam software as there are a lot of videos available on the Internet. Yet there is no solid proof claiming Bitcoin Profit as a scam.
However, before the traders start to trade cryptocurrencies using Bitcoin Profit, he should keep in mind that Bitcoin and other cryptocurrencies belong to the complex asset class and are subject to market risks. As per different Bitcoin Profit reviews, Bitcoin Profit has claimed that it is a reliable trading software that brings profits to the traders. These reports trending all over the internet and social media were later found to be false.
Traders should be careful not to be swayed away by marketing gimmicks of affiliate marketers. Many people are just getting accustomed to the crypto trading platform, yet these crypto trading platforms need to go a long way to capture the attention of the traders by providing incredible service. The Bitcoin Profit crypto trading platform can monitor the crypto market and precisely identify profitable trade signals by using smarter algorithms. The robot buys cryptocurrencies at low prices and sells them at a high price by ensuring the traders make money with good profits when they are trading.
We get to know from various Bitcoin Profit reviews that Bitcoin Profit does not offer a mobile trading app; moreover, the cryptocurrency trading platform can be used through a browser on mobile phones, desktop computers, and other devices.
The trader however, should have a good internet connection. Bitcoin has been profitable since the day of its creation. Today, it is considered as one of the best investment opportunities. But before you start to use Bitcoin or invest in it, you should be aware that investing in Bitcoin can be rewarding only if done with a good investment strategy. In other words, it is widely adopted as a method of payment as it can be easily done with a mobile device, and it is widely used as a store of value.
Moreover, it does not generate income like stocks or bonds, does not pay interest, and does not have any intrinsic monetary value. So the price of Bitcoin keeps fluctuating. Several organizations have scammed people out of millions with Ponzi schemes using bitcoins, including South Korean website MiningMax. The site, which was not registered with the U.
Securities and Exchange Commission, promised to provide investors with daily ROI's in exchange for an original investment and commission from getting others to invest basically, a Ponzi scheme. 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.
With the inevitable rise of bitcoin in current and coming years, it is becoming increasingly important to understand and be on the lookout for bitcoin scams that could cost you thousands. As more people become interested in Bitcoin, more people are also likely to try and pull off a scam.
There is no one formula to avoiding being scammed , but reading up on the latest bitcoin red flags, keeping information private, and double checking sources before investing in anything are good standard procedures that may help save you from being duped.
Cryptocurrency can be a confusing topic even for the experienced Bitcoin enthusiast, so the more you read up on the world of Bitcoin, the more prepared you can be. After all, knowledge is power. Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. I agree to TheMaven's Terms and Policy. What Is a Bitcoin Scam? Top 7 Bitcoin Scams There have been and undoubtedly will be nearly countless bitcoin scams, but these frauds make the list of the top 7 worst bitcoin scams to date.
Malware Scams Malware has long been the hallmark of many online scams.