Cryptocurrencies have recently become very popular, and many are searching for ways to profit from them, and trading them is the best way to do this. Several trading robots are available online, with new robots being created every day.
However, scammers have used these robots as an opportunity to scam people out of their money, so it is essential that those hoping to trade cryptocurrency online conduct their research to determine whether they are investing or trading with a legitimate trading robot.
If you have been looking for a trading robot to help you trade cryptocurrencies, especially popular cryptocurrencies like Bitcoin, you may have heard of Bitcoin Lucro and could be wondering if it is a legitimate way to trade cryptocurrencies.
Trustpedia provides factual information and reliable reviews about trading robots, encouraging all potential traders and investors to research a trading platform before they begin trading with them. If you notice any red flags, it may be best to avoid trading on the exchange entirely.
There are several Trustpedia reviews for you to use in your pursuit of a legitimate trading platform, so be sure to check out some of the other robots if you are looking for a Bitcoin Lucro alternative.
We have done the research to determine whether Bitcoin Lucro is a dependable trading robot, and whether you should use it to trade your favorite cryptocurrencies such as Bitcoin and Ethereum. Here is our Bitcoin Lucro review.
- 1 What to do instead?
- 2 General Overview – Is Bitcoin Lucro Legitimate? – Not Likely!
- 3 What Is Bitcoin Lucro?
- 4 Bitcoin Lucro Review – Why Is It a Scam?
- 5 Generic and Fake Software Information
- 6 Is There Any Information on Bitcoin Lucro’s Creator?
- 7 Is Bitcoin Lucro a Scam? The Verdict!
- 8 Frequently Asked Questions
General Overview – Is Bitcoin Lucro Legitimate? – Not Likely!
- We have determined that the software doesn’t work as it claims to. It claims that it is an auto-trading robot, but provides trading signals to help traders make better trading decisions instead
- Transparency is also a significant issue with Bitcoin Lucro, as it provides absolutely no information about who owns or runs it, which is a major red flag
- A lack of testimonials and customer reviews online is another red flag, as it may indicate that Bitcoin Lucro is just a fly-by-night company and not many users trust the company enough to set up an account
- There is no evidence that associated Bitcoin Lucro brokers are regulated by a regulatory body, which means that you could be dealing with brokers that have no expertise in the art of cryptocurrency trading – not exactly something you want in a broker
- Users are assigned passwords that have been generated by the website, which is another significant indicator that it is a scam
What Is Bitcoin Lucro?
Bitcoin Lucro is a cryptocurrency trading robot that analyzes patterns in marketplaces and conducts trade transactions on a trader’s behalf.
Trading robots like Bitcoin Lucro use an algorithm to identify trading opportunities for traders by monitoring patterns in an asset’s performance and identifying the ideal time to buy or sell. The robot then executes these trades without any action from the user according to preset parameters.
Bitcoin Lucro also allows traders to trade manually by monitoring markets themselves and conducting trades as they see fit. The company claims that its technology has a 96 percent accuracy level, which is a big claim, as many expert traders have not attained this level of accuracy.
Like other scam websites such as Impressive Area and Maxiplus Trade, we have noted that Bitcoin Lucro fails to provide the transparency that is commonly seen in legitimate trading platforms like Bitcoin Pro.
Bitcoin Lucro Review – Why Is It a Scam?
The main issue with trading robots such as Bitcoin Lucro is that most of the emphasis is placed on the technology behind the robots rather than on trading itself or the platform’s success. Bitcoin Lucro does not display the results that their users have seen after trading with the robot.
While this may appear to be a good thing at first, it may just be a clever way to hide the fact that not many users have had good results while trading with Bitcoin Lucro. Upon careful analysis of the Bitcoin Lucro website, no positive testimonials from users could be found.
This is one of the new tactics used by scammers to gain the trust of victims to get them to invest money with them. There is also no evidence to back up claims of highly accurate trading robots, and therefore little reason to trust that the robot is as profitable as it claims to be.
Another issue is that no certification or proof of registration with a regulatory body is displayed on the website, which is a red flag. There is also no information regarding the owner of the company or information regarding the company’s location.
Regulatory bodies, such as the Commodity Futures Trading Commission, often require trading platforms to display this information on their website. Hence, a lack thereof is an indicator that the platform and its brokers are not regulated by any regulatory body.
These regulatory bodies are there to ensure that the user’s rights are protected and prevent brokers from carrying out any unlawful practices.
Therefore, a lack of regulation is one of the most significant indicators that Bitcoin Lucro is a scam. No transparency means that it is impossible to know whether experts have created the platform you are using, or if it is run by a scammer using it for their own motives.
A lack of this information could also indicate that the platform is an offshore company, suggesting that you may not be able to take legal action against them if they take your money and close the company.
Another worrying fact is that there is no indication of a verification process. This is often a standard procedure with legitimate exchanges. Additionally, the fact that the site generates a password for you when you register is perhaps the biggest reason to steer clear of Bitcoin Lucro because the company possibly has direct access to your funds and can withdraw it whenever they want!
Generic and Fake Software Information
Bitcoin Lucro makes big claims of having “highly powerful and intuitive software that accurately analyzes the crypto markets,” but does not provide any evidence to back up these claims. Very little information is given on how the software or the robot actually works, which legitimate platforms take pride in.
It also does not provide much information on what trading is, what it entails, the cryptocurrencies it offers, or its fee structure, which is worrying because these things are usually commonplace with legitimate trading platforms.
The site claims to protect its users using SSL encryption. However, again, no evidence of this is provided, so users are just going to have to take the company’s word for it.
This lack of information makes Bitcoin Lucro and its claims very hard to believe.
Crypto brokers function as third parties who facilitate trades between buyers and sellers. While the company’s terms and conditions do mention them in passing, very little other information is provided.
There is no proof that their affiliated brokers are regulated, qualified, or trustworthy, so making use of them could just be a gamble.
In addition, there is absolutely no indication of who is regulating a user’s money after they have invested it with the platform, which could mean that the company could be taking it for themselves, or genuinely trading and investing it on your behalf.
However, the lack of information and regulation from the relevant regulatory bodies gives no assurance of the latter, which therefore renders the platform and its brokers untrustworthy, and possibly even fake – not the words you want to hear when investing money online.
Fake Trading Platform
At first glance, everything seems to be in order. Many users even trust the claims made on the website of obtaining the reliable service of a trading robot powered by an effective algorithm.
However, if you continue reading the section labeled “Top-tiered Technology,” you may notice that the software just provides trading signals. These signals are intended to help the user make better decisions when trading Bitcoin and other currencies on the exchange, which is hardly the advanced automated robot it initially promises.
This leaves you wondering what you are really receiving when you sign up with Bitcoin Lucro – a trading robot or just trading signals to help you when you trade manually.
Inexistent Safety and Security Measures
While one of the first things a user sees when they enter the Bitcoin Lucro home page is the company’s commitment to safety and security, even employing SSL encryption to keep you safe while trading online, no evidence of this is provided.
Additionally, its terms and conditions page seems generic, almost as if it were copied off the internet, rather than something drawn up by a legal team, which is another red flag.
Is There Any Information on Bitcoin Lucro’s Creator?
Bitcoin Lucro provides no information on who owns or runs it. The “About Us” page is just a general write-up about the trading robot and gives away no details about the company behind it. A company that doesn’t provide transparency is likely trying to hide something and is likely a scam.
Additionally, no phone number or email address is provided with which to contact the company.
There are often several ways to get in touch with legitimate trading platforms for customer service. However, with Bitcoin Lucro, the only option you have to obtain help is a website form that you can complete in the hope that the company gets in touch with you, which again indicates that they may be trying to hide something.
Is Bitcoin Lucro a Scam? The Verdict!
We can say with certainty that Bitcoin Lucro is, in fact, a scam because of the points mentioned above. Trading with Bitcoin Lucro should be avoided at all costs to prevent being scammed out of your money. Here is a summary of all the reasons why you should avoid Bitcoin Lucro:
- Little effort has been put into the website content, as the content is uninformative and non-specific
- The “About Us” page does not provide information about the company, but rather contains generic information about trading
- Its trading robot is fake and provides trading signals rather than actually automating the trading process
- Data protection policies are generic, and no evidence of the use of SSL encryption is provided
- There are no customer testimonials to be found anywhere – neither on the website, nor anywhere online
- The site generates a password for you when signing up, which means that it has access to your account, and therefore, your money
- No mention is made of a verification process is made, which is standard with legitimate platforms
There are legitimate trading platforms that you can use to trade cryptocurrencies like Bitcoin and Ethereum online. If you are looking for a legitimate alternative, we recommend trading platforms such as Bitcoin Era, Immediate Edge, or 1K Daily Profit.
Frequently Asked Questions
- Is Bitcoin Lucro a scam?
Yes, Bitcoin Lucro is a scam. There is no evidence to prove otherwise, and there isn’t enough information to indicate that it is a reliable platform.
- Can you make a profit with Bitcoin Lucro?
No. According to our research, there is currently no evidence that the trading robot actually works, so profits are highly unlikely as Bitcoin Lucro is a scam.
- Does Bitcoin Lucro have a mobile app?
While there is no information regarding a mobile app on the website, a few reviews have indicated that the platform does not offer a mobile app.
- How does the sign-up process work with Bitcoin Lucro? (NOT RECOMMENDED!)
We do not recommend signing up with Bitcoin Lucro. However, if you choose to ignore our warnings and sign up anyway, you can do so by completing the registration form and funding your account with a minimum deposit of £250 to begin trading.