Bitcoin Evolution is a fraudulent investment scheme that has been operating online in the world for several years. Despite a growing number of warnings, there are still many people who think it could be real.
Although anyone who has spent some time immersed in the world of cryptocurrencies knows how to spot a scam, there are still people who fall victim to promises of quick and easy money. Don’t we all dream of becoming millionaires and stop working? They take advantage of this desire to deceive and take money from the unwary through a fraudulent scheme that already operates worldwide.
For proof of their international operations, we even find specific pages for different geographies: Bitcoin Evolution Chile, Bitcoin Evolution Peru, and Bitcoin Evolution Mexico already exist. Similarly, this so-called software has been extended to include Bitcoin Evolution Panama, Bitcoin Evolution Portugal, and also in New Zealand or the Netherlands.
The threat continues to spread and has already reached people of all ages and corners of the world.
What Bitcoin Evolution aims to be
Bitcoin Evolution advertises itself on its website as the opportunity for ordinary people to earn thousands (or even millions) of dollars by investing in Bitcoin and other cryptocurrencies. On the other hand, it also takes care to sell its software as a tool capable of analyzing markets automatically and executing profitable trades, without human intervention.
In this way it –supposedly–quickly and accurately detects potentially profitable trading opportunities. It even goes a step further and claims that it can automatically open accounts and make investments on behalf of users.
They offer a minimum profit of $1300 per day for just working an average of 20 minutes or less per day. They claim that some members have already earned their first million in just 61 days. To top it all off, they include on their website fraudulent videos of personalities very declaratively stating that they have earned large figures with this investment scheme.
The signs of the scam
At this point, it should be alerted that this is not the only website dedicated to this type of fraud, but it is one of the best known. Unfortunately, others use more or less the same scheme to “hook” unsuspecting people. How they consume the scam is rough as follows:
By registering with Bitcoin Evolution
In this part, Bitcoin Evolution requests a series of personal data. Once this registration is completed, Bitcoin Evolution grants access to the supposed auto-trading software which, initially, we are informed that it is free. The free use is an understatement because immediately you access the application, it asks you to deposit 250 dollars, without which Bitcoin Evolution is not able to start trading.
There is no legal information about which company is behind Bitcoin Evolution
If it wasn’t even a scam, why do the creators of Bitcoin Evolution have to hide their identity?
They are neither authorized nor audited by any international financial institution
Any broker, investment firm, or trading platform must be authorized by an international financial authority, such as the CNMV, the CySEC, or the FCA. These institutions are responsible for periodically auditing companies and requiring them to meet standards of reliability, liquidity, and good practices.
Needless to say, Bitcoin Evolution is not authorized by any international financial authority.
They use video montages with celebrities and politicians
Bitcoin Evolution’s homepage uses rigged videos and fake celebrity testimonials. It is worth mentioning that there are multiple variants of the main page. In them, well-known personalities such as Eric Schmidt, Bill Gates, Paul McCartney, Elon Musk, and Jeff Bezos to be clients of this service. Moreover, these people and many others declare in such videos to have earned a lot of money with investments in Bitcoin Evolution.
This same campaign, with the same videos and the same characters, is replicated in social networks and advertising campaigns to trap more unwary people. In the media, there is a multitude of articles in which these same characters are cited to state that they are neither customers nor have they earned money or recommend Bitcoin Evolution.
They present “Profit Reports” that are totally false
The software that makes up Bitcoin Evolution is responsible for keeping the page updated with the income and profits of its customers in real-time. They even assure that their win rate is more than 99%, which can only be explained in the field of miracles.
Any market analyst or professional trader is capable of knowing that achieving a 99% hit rate in trading any asset is mathematically impossible. This simple statement is more than enough to detect that this is a full-fledged scam.
If the supposed creators of Bitcoin Evolution had been able to create an algorithm with a 99% success rate… What interest would they have in sharing it with everyone?
They use fake messages and markers
This resource is frequent and easily executed. Starting at the time of registration, a red warning pops up warning that registration opportunities are running low. In this way they pressure the user to register quickly and without reflection. It is also common to see messages from supposedly satisfied customers telling how the site made their money. This has no other purpose but to create a climate of trust for the user to register with Bitcoin Evolution.
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Is there a way to detect fraudulent sites like Bitcoin Evolution
Fortunately, there is. The first thing any user should do is discard magic solutions. There is no supernatural way to become a millionaire without investing a certain amount of time, money, and effort. And those that might exist, are not legal.
Therefore, the first thing to do is to critically investigate the information that these pages display. Everything, from their method of operation to the opinions of their users, should be carefully reviewed before investing money.
As a basic rule, we should discard any investment company that does not have any type of authorization or is not registered for this type of activity.
Is investing in Bitcoin or cryptocurrencies a fraud?
Of course, it isn’t. In fact, it is one of the great investment opportunities in modern times. What happens is that it is a relatively new field about which users still have a lot of doubts and there is some uncertainty. This is precisely what certain unscrupulous companies take advantage of to launch their misleading online campaigns.
It must be assumed that no investment in cryptocurrencies can offer a guarantee of large profits. Like any other value at some point is up and others down; which translates into the possibility of gains and losses for the investor.
There is a multitude of investment platforms that allow us to operate with cryptocurrencies with all the guarantees, and they have as a distinctive mark that they are legalized and authorized by the regulatory bodies of the activity.
That is, they are 100% legal and therefore can offer guarantees to their customers. Locating them and learning to distinguish them is the task that everyone interested in investing in cryptocurrencies must do. This, in reality, is not so difficult, they should only look for companies with time in the market, legal, and with a positive rating from their customers.
How to Invest in Bitcoin right now
WITH TOTAL SECURITY AND WITH A REGULATED BROKER
When it comes to investing in Bitcoin, the favorite option and recommended by Investor Times is the broker eToro.com, an investment platform used by more than 10 million users, based in London, and authorized by CySEC and the FCA (the UK regulator).
In addition, eToro has successfully passed our verification and audit process: This means that it has all the guarantees, security, reliability, and liquidity standards that we require from a broker to successfully pass our high standards.
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Most importantly, it also allows us to copy the trades made by these successful investors professionals. In this way, even if we are just starting in the investment world, we can “copy” exactly everything that the big sharks in the sector do, thus significantly increasing our chances of success.
Legal and Risk Warning: eToro is a platform that offers CFD and non-CFD products. 68% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. Cryptoassets are highly volatile and unregulated investment products. They do not have EU investor protection. Indicative prices for illustrative purposes. Past performance is not an indication of future results. Trading history presented is less than 5 full years and may not be sufficient as a basis for investment decision. eToro USA LLC does not offer CFDs and makes no representations and assumes no responsibility for the accuracy or completeness of the content of this publication, which has been prepared by our partner using specific information not publicly available about eToro. Your capital is at risk. Other fees apply. For more information, visit etoro.com/trading/fees.