Do not invest in Bitcoin Trader: it is a scam.
More words, fewer words, is the warning you get from countless reviews in specialized cryptocurrency publications and from news stories appearing in other publications. The abundance of information available on the internet should be a deterrent for scammers to decrease in number. However this is not the case, there are still people who continue to register with Bitcoin Trader, invest their money… and lose it.
People with little experience in the world of cryptocurrencies and those who still believe in easy money are the main victims in this type of scams that, under different names (such as Bitcoin Future, Bitcoin Era, Bitcoin Revolution, Bitcoin Profit, or Bitcoin Evolution) replicate the same fraudulent scheme.
The decentralized nature of Bitcoin and the widespread lack of knowledge surrounding it makes the scam more easily consumed. The promises of easy and unbelievable profits thanks to some automated trading software abound in this topic. Never before, as in this case, is the maxim that if it sounds too good to be true, it probably isn’t so true.
Those who write online articles warning about this fraudulent business scheme argue that the reasons to be suspicious are so obvious that they border on childish.
For example, if the trading algorithms used by these tools (which often guarantee a 99%+ hit rate) are so good, why don’t they apply it to themselves?
If profits are so fast and plentiful, why do they share the secret? Wouldn’t it make more sense for the creators and owners of Bitcoin Trader to become millionaires in the blink of an eye?
In addition to these pieces of evidence, there are others, perhaps less direct, that confirm the fraudulent nature of this platform. Stay with us and read on. Find out why Bitcoin Trader is, to paraphrase Colombian writer Gabriel García Márquez, the “chronicle of a scam foretold.”
All the details of Bitcoin Trader and its fraud
What is Bitcoin Trader?
Bitcoin Trader is defined as a -supposedly– fully automated algorithmic trading tool designed for trading in the emerging cryptocurrency market. Its creators claim that the tool works by targeting volatility in the market and in this they claim to get a high return. Claims to have a +99% accuracy rate and the ability to double, triple, and even quadruple your money in just a few trades.
This platform claims to operate with software that is based on the most advanced programming the world has ever seen. It is apparently able to literally see the future. They claim that the algorithm is 0.01 seconds ahead of the market, enough time to enter the best trades at the exact moment.
Why is it a scam?
For starters, the platform is not backed by any financial institution in charge of regulating investment platforms. No matter how much we search the databases of international and national regulators (CNMV, CySEC, FCA…) we do not find that Bitcoin Trader has the regulation or approval of anybody.
Also, their website doesn’t give much explanation of the purpose, mission, vision, or any other legal information that sheds light on who they are dealing with. In other words: we don’t know what company is behind Bitcoin Trader. This is the first alarm and more than enough reason for no one to dare trust them with their savings.
Also, the page presents numerical data about huge profits in a very terse way, without much detail. Although in big letters they advertise big profits, in very small letters, at the bottom of the page they warn that there is a risk of losing the entire investment.
Another major red flag that proves it is a scam is its very conception. How is it possible that having a program that is 0.01 seconds ahead of the market they don’t take advantage of? What about the risk of losing the investment from the fine print?
In the face of all these impossible promises, and considering that the site misleadingly advertises that it has received certain prices–such as from the UK Trading Association–it only remains to confirm that Bitcoin Trader is a fraudulent product.
The platform is undoubtedly a way to collect money and handle it under conditions that make the fine print warning likely to become a reality. The fraud is served, investing in the platform is simply a guarantee of losing money..
What is investing in Bitcoins?
Investing in Bitcoins is nothing more than exchanging our money to obtain these virtual currencies and being able to store them in a virtual wallet. The price of Bitcoin fluctuates constantly, as the supply and demand of the market itself regulate the price of each instant. Once the Bitcoins are in our wallet, our investment is revalued when the market pushes them up and they lose value when their value falls.
So far, and on average, the market trend has been generally bullish. While it is true that there have been large drops in the price of cryptocurrencies, when looking at the market historically the uptrend continues to dominate the ecosystem.
Bitcoins are a relatively new asset — they appeared in 2009 — and, despite their development, there is still some public ignorance about the subject. What many do know is that they have the potential for great profitability, and so there is a general desire to own them. The mixture of both unknowledge plus desire is the basis on which platforms like Bitcoin Trader rely to consummate their scam.
Is there a safe way to invest?
However, it is very important that the user identifies very well who is going to manage the investment for him. The safe way to invest in cryptocurrencies is the correct selection of the broker that will manage the investment through purchases and sales of the corresponding assets.
It goes without saying that cryptocurrencies, like all investment instruments, are products whose profitability is not guaranteed. However, the choice of broker can increase the chances that your investment will be fruitful for you.
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 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.
eToro.com is a regulated broker through which you can buy Bitcoin or other real cryptocurrencies.
You can now invest in eToro by copying the most profitable investors!
Since recently eToro is positioning itself as a successful “social trading” platform. Among other features, eToro currently allows us to view the profiles of some of the most successful investors, the returns they are earning, as well as all the trades they make and the composition of their asset portfolios.
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 out in the investment world, we can “copy” exactly everything that the big sharks in the sector do, thus significantly increasing our chances of success.