When trading within the cryptocurrency market, you want to ensure that you are using a legit program.
The cryptocurrency world has gained popularity over the past few years, so many people are putting money into the market, but this has made it extremely volatile. That is why people are starting to use trading programs to help them read their own cryptocurrency goals.
However, there are programs out there that are scams, and people need to watch out for them because there are more than people realize. One of those scams is Bitcoin Formula, a cryptocurrency trading platform that people should stay away from because it will not help anyone.
There are many reasons why people shouldn’t use this program, like the secrecy when it comes to licenses and registrations, the lies that are all over the website, and the fact that no one else trusts this program either. However, this review will explain everything you need to know about Bitcoin Formula.
Continue reading below to find out why Bitcoin Formula is a scam and not a legit program.
Top tip: No matter which program you use for your cryptocurrency trading needs, always make sure that you trade with the amount of money you can lose. This is because there is no guarantee when it comes to trading, and the cryptocurrency market is one of the most volatile markets out there. Always be prepared to lose money when trading.
Is Bitcoin Formula a Scam?
When trading, you want to make sure that your software is legit. You want your money, investments, and cryptocurrency to be safe. However, there are a lot of scams out there, and you need to be careful. If you are looking to see if a software is a scam, then there are certain things you want to look out for:
- Are there any testimonials? Have you seen any real people talking about the software? Can you find them on social media?
- Look for information on the company. If you can’t find any information on the company running this software, then that is never a good sign.
- Licenses should be visible, but if they are not, then you might not be safe. If you are promised to be in contact with a broker, then they should be licensed and registered, but if you can’t find that information – run.
- Trust your gut! Most people can tell when a website is legit or not, so you want to follow that gut feeling.
Now, the real question: is Bitcoin Formula a scam? The quick answer is yes, it is a scam. There are several reasons why this program is a scam. One of the first things you notice when you are on the website is that there is no information about the company. This is always a big red flag. No matter how much searching is done, you will not be able to find anything.
Another reason is that the website is not very large. There is only one page, and it has all of its information. This is always a warning sign when you’re looking for a program. It should be filled with multiple pages about the program, the company, and general knowledge about cryptocurrency investing. Instead, you don’t get any of that information.
Also, it states on the website that Bitcoin Formula is registered with the UK Financial Conduct Authority. A quick search on the website shows that this information is false. Many people don’t go that extra mile to check up on these registrations on websites, but it takes no time. Now that that search has been completed, everyone knows that Bitcoin Formula has lied on its website.
Lastly, the website does not give off a positive gut feeling. When scrolling through the one-page website and reading the information, it was obvious that it is a scam.
What Is Bitcoin Formula?
According to the website, Bitcoin Formula helps investors make money from cryptocurrency through trading strategies. Users are supposed to fund their accounts while the program helps run the trades. Overall, it is a cryptocurrency trading program that people can use to get into cryptocurrency trading.
However, users must remember that they will need to spend time with their portfolio and the program to learn more about it.
How Bitcoin Formula Works
The program uses information and an algorithm to help traders trade within the cryptocurrency market to make money. There are two ways to use this account:
- Users can work with the program and the brokers to trade within the market.
- Individual trading will need to be done by yourself to get the results you want.
Bitcoin Formula Features
Users can use this program to trade with the provided trading tools. Also, a customer support team is available to help answer any question that someone may have. There is a demo version available for people to play with. However, there is no mobile app available.
Here is further information about the features:
The trading tools available may be useful to someone, but many will struggle with them. This is because there are no educational materials in this program. It tells the user how to use the program, but that is it. It would be more beneficial if additional information were provided, so people would be able to learn about cryptocurrency and the program.
The demo version is the only positive that could be found. Yes, traders will be able to use the demo version to practice using the account, but it would be better if additional materials were added to it. The problem is, if someone were to use the program and not know how to trade – then the demo version is useless.
This is because the person does not know how to trade and will not be able to teach themselves with this version. However, if the demo was optimized as a learning tool that showed traders everything they needed to know about trading, it would be worth it.
The customer support team is pretty much nonexistent when it comes to the customer support team. It is not easy to contact the team, and when they reach out to you, it almost seems like they are amateurs. If money is involved, then users should only want to work with professionals and people who care about the money they are putting in.
However, a scam will not because they will find a way to take your money and information instead.
Is Bitcoin Formula Safe?
It is pretty safe to say that using Bitcoin Formula -for any trading purposes- is not safe. There are many reasons why you shouldn’t use this program. Firstly, you don’t know what algorithm is used to keep your information safe. It states that your information is protected on the website, but people do not know which algorithm it is.
Secondly, the brokers are not licensed or registered. If you get in contact with a broker from the start, then you are lucky, but it depends on how you look at it because the brokers are not registered or licensed. This is a big security problem because these people have access to your personal information, so you want to ensure that a governing body regulates them.
Lastly, there are no testimonials. When real people write no testimonials, other people do not think this program is safe to work with. If others don’t trust it, then you shouldn’t either.
Bitcoin Formula Pricing and Fees
There are only two things that people know about the pricing and fees of Bitcoin Formula:
- There is a 2% commission fee on any profits generated through the program.
- Users must deposit a minimum of $250, to begin with.
When trading with your own money, you want to ensure that you are using a reputable and legitimate program. However, there are a lot of scams on the internet now because it is becoming easier and quicker to scam online. One of those scams is Bitcoin Formula.
This review has outlined many reasons why people should not use Bitcoin Formula because it is a scam in many different ways. The lack of transparency on the website shows that the company that created this program is hiding something. When searching for a program to use, all of the licenses and registrations should be easy to find on the website.
Also, after checking the UK Financial Conduct Authority register, Bitcoin Formula could not be found – which means that the company lied on the website. If a company is lying about being a part of a registry, it is safe to say that it is a scam. Additionally, this program cannot be found anywhere on another register.
Additionally, it claims that a licensed and registered broker will contact users, but that never happened. The more lies that are expressed will continue to show users that this program is not legit, especially when it comes to the brokers. If the brokers are not licensed or registered, there is no need to work with this company because you do not know who you are working with.
There is also no information on the company that owns this program and website. That is a major red flag when working with cryptocurrency trading programs because people should know what they are working with and who has access to their money. Except, this program does not share any of that information.
However, if you want to work with a program that is legitimate and will help you build your portfolio, then you can check out one of the following:
- Qil Profit
- Quantum Ai
It is essential that people do remember to research every program they come across because you do not want to be involved with a program that is not legit. Make sure to check registers, licenses, and testimonials when it comes to working with online programs. Completing these tasks will help every person pick the right program for their trading needs.
Overall, Bitcoin Formula is a scam program and should not be used. There are many reasons why people should not use it, but even if you go onto the website – you will probably get a feeling that it is a scam. Instead, look for another program that will help you reach your cryptocurrency goals and one where you don’t have to worry about your money.
Also, remember to only trade with money that you can afford to lose. There is no guarantee when it comes to any kind of trading, especially when it comes to cryptocurrency. All users must remember only to use the amount of money that is reasonable to them and do not trade anything more.