Bitcoin Bonanza Scam
Beginning to trade can be a challenging process if you don’t have anyone to help you. Most people stop trying to trade after the first couple of weeks because they get too confused and frustrated. We always say that the key to efficient trading is getting knowledge before you begin practicing, but gaining access to that knowledge isn’t that easy either.
An excellent way of gaining the knowledge required to trade better is by using trading robots. These pieces of software have been carefully developed to help you optimize your trading sessions, making it easier for you to assess all the information coming at you. Most of these robots can be accessed for free on the internet. However, you may now be wondering which one is the best for you.
Before you begin choosing an app, you need to know how to tell a reliable site from an unreliable one. Several scammers worldwide have developed mimics of other platforms; these mimics don’t work at all, and they’re only there to gain access to your data and money.
Today, we’re going to take a look at Bitcoin Bonanza, a new crypto trader that claims to be the best one on the market today. Saying that you’re the best company among them all is a huge statement, so we went ahead and took a close look at the software. Unfortunately, we quickly determined that Bitcoin Bonanza is a scam due to several reasons we’re going to explain below.
If you want to know more about our investigation results, keep reading our Bitcoin Bonanza review, or go for a legitimate trading robot right now by clicking on this link to check our recommended trading robots.
- 1 Bitcoin Bonanza Scam
- 1.1 General Overview – Is Bitcoin Bonanza Legit? Absolutely Not!
- 1.2 What is Bitcoin Bonanza?
- 1.3 Bitcoin Bonanza Review – Why Is It a Scam?
- 1.4 Is Bitcoin Bonanza a Scam? The Verdict!
- 1.5 Frequently Asked Questions
General Overview – Is Bitcoin Bonanza Legit? Absolutely Not!
What is Bitcoin Bonanza?
According to the company’s website, the “Bitcoin Bonanza System” is the top automated crypto trading software on the market right now. It supposedly was created with a high-level trading algorithm that allows you to detect good trading opportunities at any point during the day.
Unfortunately, there is no evidence to support any of these claims. There aren’t any authority websites mentioning Bitcoin Bonanza as a top-rated crypto trader, nor there are any indicators of the company using a “high-level trading algorithm” for their software.
Overall, we believe that Bitcoin Bonanza is using generic information to lure beginners into its system. However, we’ve concluded that the software doesn’t have any proper trading technology or algorithm at the moment.
Bitcoin Bonanza Review – Why Is It a Scam?
Bluffing implies trying to deceive someone from your true intentions. In this case, Bitcoin Bonanza filled its website with lies on how their software is the best one on the market and why you should make an investment right now.
This technique is used by scammers to try and get users to invest right away. For someone who doesn’t know anything about trading, they may choose to invest if the website claims that it can make them rich in a day. Keep this as a rule of thumb: “If it sounds too good to be true, it probably is.”
Some of these scammers tend to reach out to new users by spam email since their website doesn’t have any organic reach; this is another clear sign of a website that’s trying to scam you. If the software was that good, why would they need to spam you to get you to use it?
Here is an overview of some other problems we found with Bitcoin Bonanza:
Unrealistic Success Rates and Results
While there are several trading robots, such as Oil Profit, Immediate Edge, Yuan Pay Group App, and Bitcoin Profit that have been able to work well consistently, it’s virtually impossible to achieve a near 100% success rate.
According to Bitcoin Bonanza’s website, you’re expected to have a 99.4% success rate in each of your trades, which isn’t possible. The trading market is too volatile, and not even the most advanced algorithm can predict every possible outcome accurately.
Additionally, Bitcoin Bonanza claims that you can have outstanding results of up to $10,000 in less than a week. Not only these claims are unverifiable, but gaining that kind of money without having any kind of trading experience is near to impossible.
After some thorough investigation, we confirmed that these reviews were fake, and the pictures used by the website were stock images that were illegally stolen from other sites. You can easily verify this yourself by doing a reverse image search.
Many scammers use this technique to lead you to believe that people are using the app and getting rich from it. Unfortunately, all of these reviews were proven fake. Most websites that put testimonials of “people who got rich,” on their page are likely scammers.
Fake Trading Platform
This means that there is no such thing as live-trading happening on Bitcoin Bonanza’s website, and there’s no information on which brokers and regulators manage your investment. In those cases, you can’t tell how the company is using your money, which is already a red flag.
Scam trading apps, such as Crypto MasterBot and Immediate Profit, also use this kind of fake trading platform. If you look closely at those sites, you’re going to notice that all of them look the same.
Fake Award Claims
The company behind Bitcoin Bonanza states that its software has won several awards, including the “Top Trading Software” by the U.S. Trading Association. However, there’s no information backing up these claims, nor there is any information on the U.S. Trading Association on Bitcoin Bonanza being a top-rated trading robot.
Unreliable Security Policies
Unreliable Funding and Withdrawal Platform
We encountered many problems at the time of withdrawing our money, and the customer support page wasn’t helpful at all.
In essence, it may be impossible to withdraw your money from your trading account once it’s already funded, so keep that in mind before registering.
Who Created Bitcoin Bonanza?
However, most of the information is generic and it doesn’t specify anything about the team or the creator rather than saying that the software was created by “a group of experts.”
However, the biggest indicator that the information there is fake is one of the paragraphs on that page. The company claims that its experts have “Over 200 years of experience on the financial market, which allowed them to create a reliable crypto trading system.” Considering that cryptos appeared roughly 12 years ago, it’s impossible to claim such an absurd amount of experience.
All of this tells us that the company didn’t even bother to check the information they put on the website, making it likely a scam.
Is Bitcoin Bonanza a Scam? The Verdict!
Bitcoin Bonanza poses a significant threat to your internet security; there are no evident data protection measures, so your data is always going to be exposed to third-party buyers or hackers.
Frequently Asked Questions
There are several factors that you may check out before registering. If something seems off about the following claims, it’s likely a scam:
- Software’s Algorithms and Technology
- Fast Results
- Security Measures
- Company’s Information
Yes, Bitcoin Bonanza has been proven to be a complete scam. We don’t advise you to register there since you’re at risk of losing your hard-earned money. Instead, we encourage you to use one of TrustPedia’s approved trading robots.
Thankfully, there are many trading robots you can use that work efficiently for your goals. We did the work and gathered a list of the most efficient and reliable trading robots out there. You can check out our reviews so that you can choose an app tailored to your needs.