Cryptocurrencies like Bitcoin have given the term “virtual money” a new meaning, and people are constantly looking to profit from it. One of the easiest and most popular ways is to trade these digital currencies online.
With the emergence of new trading platforms and auto-trading robots that automate the trading process comes unknown risks as traders must discern the legitimate trading platforms from the scams.
This is why at TrustPedia, we take a closer look at trading robots to keep you from investing your money with a scammer. Our information is based on research, and we always advise users to steer clear of trading platforms if they notice anything concerning.
If you are looking for a Bitcoin Capital alternative, you are sure to browse our website, as we have a plethora of our other reviews that can help you find a legitimate auto-trading robot.
We have taken a closer look at Bitcoin Capital, a seemingly accurate auto-trading robot, to determine if it is a legitimate way to trade popular cryptocurrencies such as Bitcoin, Ethereum, and Ripple. Here is what we found.
- 1 What to do instead?
- 2 General Overview – Is Bitcoin Capital Legitimate? – Not Likely!
- 3 What Is Bitcoin Capital?
- 4 Bitcoin Capital Review – Why Is It a Scam?
- 5 Generic and Fake Software Information
- 6 Is There Any Information on Bitcoin Capital’s Creator?
- 7 Is Bitcoin Capital a Scam? The Verdict!
- 8 Frequently Asked Questions
General Overview – Is Bitcoin Capital Legitimate? – Not Likely!
- TrustPedia gives Bitcoin Capital a low legitimacy score because it isn’t transparent and does not provide any real information about its software or the company behind it
- The platform obtains its credibility from phony Trustpilot reviews that appear to be staged
- The site seems to associate itself with unregulated brokers
- Users do not receive any customer support, and there is no way to contact the company if something goes wrong, indicative of a scam!
- Conflicting information provided by the site makes it hard to trust this platform
What Is Bitcoin Capital?
Bitcoin Capital is an automated trading robot that makes unrealistic promises of high returns on investments. It allows users to trade both cryptocurrencies and Forex. Auto-trading robots typically make use of algorithms to analyze and monitor trends in the market to identify favorable trades, executing them on the user’s behalf.
The company claims that you can go about your day while the robot trades for you, earning for you returns of up to 60 percent of your investment per day. Because little to no effort is required from the user, the software claims to be accessible to all kinds of traders, even those with no prior experience with trading.
It also allows users to engage in traditional, direct trading, which involves monitoring the market for themselves and making trades based on their own judgment, with some help from the trading signals provided by the software.
Unfortunately, when something appears to be too good to be true, it often is, and we have noticed several red flags that have led us to distrust Bitcoin Capital as a legitimate trading platform.
Bitcoin Capital Review – Why Is It a Scam?
At first glance, all may appear to be in order with this trading robot. However, if you look closely, you may notice that the company provides no evidence to back up its claims and provides no indication of who the people behind Bitcoin Capital are, which is a significant red flag.
We are told that Bitcoin Capital is a development company and is given no means with which to contact them. There is also no “About Us” page, so we are left in the dark about this mysterious development company.
Without this information, there is no way for you to know whether this platform was genuinely designed by professionals who want to help you trade cryptocurrencies efficiently or whether they are scammers trying to scam you of your money.
Additionally, this platform appears to receive all its credibility from Trustpilot reviews, which look suspiciously like a marketing ploy, which isn’t generally what you notice in genuine online reviews. The “reviewers” simply ask you to sign up rather than provide a factual account of their experience with Bitcoin Capital.
This leads us to believe that the Trustpilot reviews have been fabricated in an attempt to gain the trust of users. Studies have shown that more people are likely to complete an online sale if they read an online review recommending that product, which is no different with online trading.
Scammers often use this tactic to gain the trust of their victims, getting them to sign up without actually noticing the red flags.
Another thing to note about Bitcoin Capital is that it claims to be completely free. However, another section that answers the question “Are there hidden fees with Bitcoin Capital?” mentions a two percent commission on profits, so which is it? Is the software completely free, or do you pay two percent every time a transaction occurs on your account?
Customer service is non-existent with Bitcoin Capital, so if you experience any trouble while trading with the software, you are left to figure it out on your own.
Generic and Fake Software Information
Bitcoin Capital makes several claims to have a highly accurate trading robot that is guaranteed to help users make a return of four times their initial investment within its incredible software. However, no evidence is provided to back up this claim.
Additionally, the company claims that its users are protected by RSA encryption and is compliant with EU General Data Protection Regulation. Still, as there is no evidence of this displayed anywhere on the website, your only option is to take the company’s word for it.
Trading platforms that do not provide detailed information about their trading software must not be trusted with your money.
When looking for a trading platform, it is essential that you take a look at its associated brokers. These brokers act as intermediaries between buyers and sellers and are generally recommended for beginners.
We have noted one alarming fact. Towards the middle of the home page, the company talks about the two percent commission being shared with its “underlying brokers.” However, in fine print, at the bottom of the page is a section entitled “Regulatory Warning,” which states that the company “does not provide investment or brokerage services.”
However, it goes on to say that when you sign up, a broker is automatically assigned to you – offering you brokerage services. This contradicting information is a major red flag.
The company also states that the onus is on you to check whether the broker is regulated. It does not do this for you.
Unfortunately, this is another red flag as most reputable trading platforms pride themselves on associating only with regulated brokers to ensure that their users are protected at all times. Using the services of an unregulated broker is not recommended because there is no way to prove whether the broker knows what they are doing, and this can cost you your investment.
Additionally, in the event that the broker takes off with your money, you may not be able to take legal action against him if he is not a regulated broker, so it is best to avoid using any of Bitcoin Capital’s brokers altogether.
Fake Trading Platform
At first glance, it may appear that Bitcoin Capital is a legitimate auto-trading robot. However, upon careful consideration, it is plain to see that the software generates trading signals that depend on how you set up your preferences, giving you the false impression that you are making real profits when you are not.
This is how the platform can promise such unrealistic returns on investments because it has been designed to make you believe that you are making impressive profits.
Inexistent Safety and Security Measures
Every trading platform is obligated to tell you how it handles your information and whether it is shared with third parties. However, apart from mentioning RSA encryption and EU General Data Protection Regulation, it does not give you any information about how it intends to use your information.
Most scam websites include a generic “Terms and Conditions” page, but Bitcoin Capital hasn’t attempted to include one at all, which is alarming. There really is no way for you to tell how the platform is handling and managing your information, so you can be in for some nasty surprises if you choose to sign up with them.
Is There Any Information on Bitcoin Capital’s Creator?
Scammers’ trading platforms do not provide information about the creator or owner, but many traders do not know this. We found no information about Bitcoin Capital and who runs it. Additionally, we are not given an opportunity to send them an email or web form to find out.
Most legitimate trading platforms give you information about the company behind the trading platform, often providing you with its physical address and contact information if you need more information about the company and its services.
However, this is not the case with Bitcoin Capital, as it has omitted this information entirely. Apart from being told that a development company runs it, there is nothing else we were able to find about the company behind Bitcoin Capital.
In addition, no customer service is a major red flag because the company essentially tells you that it cannot help you if you experience any problems with its services. Trading commodities online can be a daunting task, especially if you are new, so the lack of support from Bitcoin Capital is disappointing and indicative of a scam.
Is Bitcoin Capital a Scam? The Verdict!
We can confidently say that Bitcoin Capital is not a safe or legitimate trading platform, and consumers would do well to avoid this trading platform at all costs. Here are all the reasons not to trust Bitcoin Capital:
- It provides no transparency, providing absolutely no information about who owns or runs it
- The information on the home page is generic and appears to be copied from other websites
- Instead of providing proof that it is a legitimate trading platform, it just answers this question plainly, and you must take their word for it
- The trading robot itself is fake, providing fake trading signals to the user, which gives you the false impression that you are seeing good returns on your investment
- Most of the platform’s credibility is based on Trustpilot reviews, which, upon further analysis, appear to be staged, as they are suspiciously like a marketing ploy, encouraging users to sign up rather than providing factual accounts of their experiences with Bitcoin Capital
- Contradictory information regarding brokerage services and fees leads us to believe that the company cannot be trusted
- The company includes a disclaimer at the bottom that asks users to check whether brokers are regulated or not, which means that it possibly associates itself with unregulated brokers, hardly a characteristic of a legitimate trading platform
- Trustpilot visitors are promised a $250 deposit bonus. Still, the disclaimer in fine print indicates that this bonus is subject to availability in your country and your broker has the final decision on whether to grant you the bonus or not. This appears to be a false marketing ploy to get you to sign up
Although Bitcoin Capital is a scam, many other legitimate auto-trading robots on the market can help you trade Forex and cryptocurrencies using real algorithms and conducting legitimate trades on your behalf.
Some legitimate robots to try are BitiQ, Oil Profit, Bitcoin Era, and Yuan Pay Group. If you notice a lack of information and unrealistic claims provided by a trading platform, we advise that you avoid it altogether. Instead, select a legitimate one by browsing through our reviews.
Frequently Asked Questions
- Is Bitcoin Capital legitimate?
There is currently no evidence to prove that Bitcoin Capital is a legitimate trading platform, and users are advised to steer clear of it.
- Can you make a profit with Bitcoin Capital?
No, you cannot. Bitcoin Capital is not a legitimate trading platform, and it uses fake software to generate fake trading signals.
- Does Bitcoin Capital have a mobile trading app?
Yes, the platform does have a mobile trading app, but trading with them is not recommended.