The Bitcoin Bot Scam: Why This Auto-Trader Is Not Legit
You’ve heard of cryptocurrency before, and you probably waited a while to make sure that it wasn’t just a fad. Now, though, you want to invest and start trading it and don’t know where to start. Most people learn quickly that auto-trading software is available, but there are so many types available. Ultimately, you probably ran across Bitcoin Bot in your search, but before you decide to use it, stop immediately!
We have investigated this platform thoroughly. It’s just a scam site and isn’t going to help you. If you already deposited money using this robot, it’s gone. Scam robots like Bitcoin Bot are only there to steal your money. Another bad thing is that they can expose your information to other sites and cybercriminals.
This extensive review is going to focus on Bitcoin Bot and help you understand why we call it a scam. You’re also going to learn how to spot other scam bots, but we also discuss decent robots so that you have somewhere else to go. We’ve got plenty of recommended bots on our list, and they’ve all been through significant testing to show that they are legitimate.
Please continue with this Bitcoin Bot review. If you’re certain it’s a scam, go through the YuanPay Group review to find out about a legitimate robot.
Is Bitcoin Bot Legit? NO!
What’s Bitcoin Bot?
Bitcoin Bot is designed to look like an automated trading robot for cryptocurrency. When you use it, you’re supposed to trade on CFDs to earn profits. However, our investigation shows that this is a scam website and a fake auto-trading robot. You are probably going to lose the entire deposit within hours on Bitcoin Bot. In fact, it makes consistent losses because there’s no live trading, and everything is predetermined.
Bitcoin Bot Review: Why It’s a Scam
If you’ve already done this, it’s likely lost to you. As we explain below, the platform is designed like a web-trader, but it’s fake. It must use robot brokers to take the deposits, and they’re unregulated, making them unsafe to use.
Like other scam bots, this robot wants to hit you when you’re in a financial difficulty and need the money desperately. It sends spam emails, and you may be here reading this because of that.
While you usually see the ‘good’ reviews, it’s possible to tell that they’re legitimate from the wording. However, Bitcoin Bot went crazy with showy and flashy testimonials promising tons of earnings. We don’t believe that this is necessary. You should always pay attention to the claims from others and the auto-trader itself. However, with what’s shown, you shouldn’t register or fund an account.
Fake Platform and Brokers
Any deposits made on the site are sure to be lost to you and can’t be recovered.
You also need to focus on the brokers listed on any auto-trading site. They must be regulated, and the top agencies include the FSB, ASIC, FCA, and CySec. If you see a robot with regulations from other jurisdictions or none at all, they aren’t legitimate. There are many fake auto-traders, such as Anon System and Crypto Bull App that have regulatory problems and are considered scams because of it.
Withdrawals and Deposit Processes
Bitcoin Bot is like other scamming robots because you can’t withdraw the capital you add to the fund. Legitimate robots often let you remove the entire portion if you choose to. That way, you know they’re safe to use.
Also, you can’t get out the capital you earn on Bitcoin Bot, but that’s because you can’t make money with it. Once it is in the account, the only thing you can do is make trades. Since they aren’t done live, you’re ultimately going to lose the money you put into it.
If you do ask for a withdrawal of your capital, customer service might ignore the request. Even if you get a response, it’s likely going to be a form letter apologizing and saying that there’s nothing that can be done. When you try to proceed, you could get blocked out of the account and have no restitution options available then.
Creators of Bitcoin Bot
Most legitimate auto-trading robots offer an about us section to discuss the creators. Names aren’t used, but you get an idea of how the trading robot came to life. This information is absent from Bitcoin Bot. We couldn’t find an about us section to read, and we looked very hard.
Ultimately, we feel that you’re going to lose your money if you make a deposit on the platform. Plus, you may have to deal with identity theft issues because your data is fully exposed on the site.
With no data protection features in place, Bitcoin Bot can sell your information, and hackers can find and use your credit/debit card info.
TrustPedia does NOT recommend that you use Bitcoin Bot. If you want a legitimate robot, read the reviews on Bitcoin Up, Oil Profit, and Bitcoin Profit. They have been thoroughly tested and proven to be authentic. Stay away from Bitcoin Bot, BitSignal, and Easy Trade App.
Technically, you can deposit any amount, and there’s a $250 minimum. However, we advise you not to put anything in your fund. If you do invest on Bitcoin Bot, you are sure to lose it all because this auto-trader robot is a scam. Also, the fake web-trader might try to solicit even more money from you.
No. If you were unfortunate enough to deposit money into the Bitcoin Bot fund, you can’t withdraw it. Legitimate bots always let you remove the full investment if you choose. This shows that they’re authentic. However, you can’t do that with Bitcoin Bot. In fact, you’re not likely to see any profits when using it. Instead, you just consistently lose money because the ‘spreads’ are predetermined. Though customer service is offered, you’re not likely to get anywhere. Then, if you demand the money back, you are sure to get kicked off the site and have your account suspended. That means you can’t log back in and request customer service.
We understand that you want to use auto-trading software to help with the cryptocurrency markets. This is normal, and there are various reputable auto-trader robots. For example, Bitcoin Prime is a great choice. You can read the review on it to understand it better. When you’re comfortable, just go to the website and sign up.