The new cryptocurrency-based economy provides a ton of opportunities for new traders to make a lot of money.
Unfortunately, it also provides a lot of chances to scam less sophisticated consumers.
When starting out in your Bitcoin buying and selling you might be looking around for the best option that fits your budget.
From cryptocurrency exchanges like Coinbase to other options like Bitcoin mining companies, the choices out there are pretty wide.
Given so many choices of where to put your money, you probably want to know which ones are not only effective and economical but also legitimate in the first place.
That’s why in this review we’re going to take a hard look at Bitcoin Traderand try to give you some kind of insight into what kind of service it offers and whether or not it is right for you.
This is because a lot of the search results for Bitcoin Trader are…mixed to say the least.
Some reviewers label it a scam while others just didn’t like the service. Whatever their reasoning, a lot of the consensus behind Bitcoin Trader is pretty negative. We’ll try to figure out why.
Bitcoin Trader: How It Works?
Bitcoin Trader promises you a guaranteed return on your investment using robot trading software that it claims is consistent and reliable in terms of making its clients money.
You might be skeptical of these claims, and you should be. Promising a kind of financial algorithm that even Goldman Sachs doesn’t have, Bitcoin Trader claims its software uses optimal timing to buy and sell Bitcoin in order to guarantee that they make money.
Likely it does this, if it does it all, by making money from the margins in Bitcoin price fluctuations.
With such advanced software, you would think there would be more information out there about Bitcoin Trader but there isn’t much to go on after a few searches. Company founders, place of business, and how long they have been developing this technology are all mysteries.
Another claim proffered by Bitcoin Trader is that its software makes estimates about future values and plans trades accordingly. Just to make sure you read that right: Bitcoin Trader basically claims that its software sees into the future. It also does so with a 99.4% accuracy rate. Again, for such success you would think there would be more press out there about Bitcoin Trader. The lack thereof has this reviewer and many others questioning its legitimacy.
Is Bitcoin Trader a Scam?
The research we’ve compiled, including other “reviews” of Bitcoin Trader, seem to point at the service being some kind of fraud. The signs of this are numerous but also quite blatant. It is tough to review a service that is a scam but, with little else to go on, that is what we’re going to drill down on in this review.
Bitcoin Trader: Issue #1
First, Bitcoin Trader promises inordinately large returns on your investment and even guarantees its clients millionaire status by a certain point in time. Like the best schemes out there, this language should be both familiar and off putting for new clients. How is this done? If this is such a guaranteed wealth generation mechanism, why haven’t other people heard about it?
Indeed, such a company, if it actually did what it promised, would dominate headlines across the globe. This is because Bitcoin trading is such a hot thing these days. Even after the massive fall from its height, tons of people still want to get in on Bitcoin trading. Bitcoin Trader seems to be targeting (or preying upon) these customers.
Bitcoin Trader: Issue #2
Another issue is that Bitcoin Trader focuses less on the “how you get there” and more on what being there is like. That is, they start off by selling Bitcoin Trader as a way to give you a luxury lifestyle without the need for either effort or talent - just an investment from you. When someone is taking your money and promising to invest it, they should tell you how it works and what they’re going to do with it. Bitcoin Trader immediately dives head first into how much you will make and how rich you will be. Those are two huge red flags alone.
Bitcoin Trader: Issue #3
A third issue is that all of the customer testimonials about the program’s success use stock photo images. This not only makes one question whether these are real clients or not but also draws a lot of the website into question. If they are willing to fudge a little here and there, do you really want to give them your money. The answer is usually a safe “No.”
When people have tried to find out more about Bitcoin Trader, the Internet history traces back to a company founded in September 2017 by a Gary Roberts. Since no one can find anything about this person, many have assumed that it is, in fact, a made up alias for whoever is running the website.
Users who have signed up for this experience reveal another set of facts entirely. Not only do they confirm our suspicions, but they should act as a warning to future clients of Bitcoin Trader. One of the most common issues is that users cannot log in to the website once they’ve registered. A few users have handed over money to Bitcoin Trader only to be locked out of their account and told that it doesn’t exist. Others have only claimed to sign up via an email address and then get locked out. Another user commented that the website was very aggressive in attempting to get his credit card information and even called him multiple times.
Bitcoin Trader Review: Our Conclusion
Our recommendation is that traders stay far away from Bitcoin Trader and find a better service to trader cryptocurrency themselves. Anyone promising an automated, get-rich-quick scheme is likely lying to you. Making money takes work, even if it is Bitcoin. Bitcoin Trader is not a service anyone should consider.