Everything You Need to Know About this App
When it comes to purchasing Bitcoin and trading real money for virtual money, you might feel a bit concerned. After all, not every single shop trades in or purchases Bitcoin, and who is to say that you are even able to withdraw your deposit? While there are several different types of Bitcoin services that are entirely legitimate and can make you some return on your investments, Bitcoin Sunrise is not one of them. Bitcoin Sunrise is a scam, and here are some of the red flags that we saw when we began working with the service. Look out for these red issues, so you can make sure that you invest your Bitcoin into a reputable company.
- 1 What to do instead?
- 2 Is Bitcoin Sunrise a Scam?
- 3 How It Tricks You
- 4 Unrealistic Expectations
- 5 Is Bitcoin Sunrise Legit. No!
- 6 A Damaged Demo Account
- 7 A Lack of Personal Data Protection
- 8 Other Things to Consider with Bitcoin Sunrise
- 9 The Verdict of Our Bitcoin Sunrise Review
Is Bitcoin Sunrise a Scam?
The short answer is yes, and the platform admittedly hides it very well. The website looks and acts just like a regular Bitcoin website, and it does a lot to trick you. The real scam unfolds whenever you deposit your $250 onto the website and attempt to start making trades.
We found during our testing that withdrawing the money from our accounts was almost impossible. Several issues came up whenever we needed to take the money out, and then it was gone. That was all we needed to label this website a scam, although it is a better put together one than various other attempts that we have seen.
We would not be surprised if you were tricked by Bitcoin Sunrise, because it does look and act like a real website up until you try to pull your money. Here are some of the reasons why it tricks you, and what you can do to protect yourself from it.
How It Tricks You
The website is armed with all the information that you would expect to see on a legitimate platform. This includes information about the algorithm too. According to the website, the trading algorithm is almost 100% accurate whenever you input your parameters and start trading. It also states that its algorithm has a time leap of 0.1 seconds and that this allows the trading software to take advantage of the various changes in the Bitcoin market.
No matter which service you use, Bitcoin prices are always going to fluctuate, and they do so too fast for people to handle alone. Automation is the best way to move forward with Bitcoin trades because automated trades help to not only take advantage of these small trading windows, but they also allow you to make trades without feeling overwhelmed.
You can get into the application and start making trades without any problems, and a lot of people get a false sense of security because of that. The trades are being made, the algorithms are working overtime, and the cash is being made for you. Then, you try to make the withdrawal and things go downhill.
The money just is not going to be withdrawn, and you are going to have the exact same problems that we did.
Another way that Bitcoin Sunrise gets you to go down the rabbit hole is to promise unrealistic expectations for profit. Everyone wants to make trades for their Bitcoin and other cryptocurrencies, however, there is a realistic expectation for the amount of money you can make.
Bitcoin Sunrise promises some very bold things, and while this might be good marketing, it is not all roses. Most customers who are trading in Bitcoin are focused on making some profitable trades, and the expectations can really mess with customers.
Make sure you research Bitcoin trades and what you can reasonably expect thoroughly. While larger profits are something that you can aim for on a good day, most people are not making that much. If you have an idea of what you can realistically make during an average trading day, then you are not going to be blindsided.
Is Bitcoin Sunrise Legit. No!
There are a few other red flags that prove Bitcoin Sunrise is not a perfectly legitimate website. Here are a few of the things you need to look for.
A Damaged Demo Account
Most of the time, demo accounts are the one thing that separates the scams from the real Bitcoin trading websites. However, the demo accounts can be used against you, and Bitcoin Sunrise employs this strategy.
Most demo accounts are designed to allow you to simulate trades in a risk-free environment. You can set up the robot, make trades, and see how the platform works, all without risking a single cent of your own money. This feature can help you build your confidence and prevent you from having problems with live trading.
However, scam websites, such as Bitcoin Sunrise, hijack the demo account and use it to lull you into a false sense of security. While the account is typically designed to help you see both the benefits and the risks of making trades, the hijacked versions make it impossible to lose.
Every single trade that you do works in your favor, and you get high on those victories. Even if you know what you are doing and try to intentionally be bad at the trades, the rigged account can make sure you win. Buoyed on this false confidence, you enter the live trading area where you seem to do everything but win. Your trades often fail, your initial $250 is gone, and then you lose everything. With Bitcoin Sunrise, even if you make some profitable trades, the money becomes impossible to withdraw from the account.
A Lack of Personal Data Protection
Bitcoin Sunrise, as well as other scam websites, have a severe lack of protection for your data. Your billing details, email address, phone number, and the rest of your personal information is on file and stored in a very unsecure manner. Your personal information can easily get exposed, and you do not want your data to be out on the world wide web.
The best Bitcoin and cryptocurrency websites are ones that share their security measures without any prodding. They know they should share how they encrypt and protect your data, and they also often share other ways they keep your information safe. Some of them even provide a Bitcoin wallet with a key to keep your Bitcoin inside.
Fake and Unlicensed Brokers
One more thing you need to think about is the brokers on the website. The brokers are the people who act as the middlemen when you sign up, and they are usually trustworthy people who facilitate your needs. However, on websites such as Bitcoin Sunrise, the brokers are scam robots.
Their only job is to make sure that they get your deposits and then they vanish. Most Bitcoin websites focus on sharing their brokers, and they share their regulated brokers in a section on the page. Some of the best regulators for cryptocurrency are CySec, FCA, ASIC, and FSB. If the brokers on these websites are unregulated, then you need to steer clear of them.
When you deal with accredited brokers, that only increases the trust that you can have in the website.
Other Things to Consider with Bitcoin Sunrise
One of the other strategies that scammers use to trick you out of your deposit is to use copycat websites. These are cloned websites that look like a legitimate website and try to trick you.
Often, images, fonts, and text boxes are taken from the real website and then uploaded to the cloned versions. The scammers simply change a name or two and call it their own.
The scammers try to play with your ignorance of Bitcoin and cryptocurrency with these copied websites, so do your research before signing up.
No one is forcing you into anything as you try to get into Bitcoin, and you are doing yourself a disservice by not researching everything. Check reviews, talk to people who have made successful trades, and focus on every aspect of the website.
Do all the research and studying you need to do before you add your hard-earned money to the mix. The main weapon for scammers is ignorance. This could be ignorance of how Bitcoin works, what these sites are supposed to look like, or even what kind of data is reasonable to be collected.
The more knowledge that you have about Bitcoin and the trading websites, the less prone you are to falling for the scammers’ tricks.
The Verdict of Our Bitcoin Sunrise Review
After reading our Bitcoin Sunrise review, you should now know to stay far away from this obvious scam. You can, however, learn from the various tactics of the scammers at Bitcoin Sunrise to sharpen your ability to identify scam sites.
Trading Bitcoin can get you some success, and maybe even a little money for your time. Just make sure you are doing so with a reputable trader on a trustworthy website, and then you can focus on capitalizing on the system. That way, you have a real chance at having a potentially profitable experience.