Thebitcointrader.co Review – Is Bitcoin Trader a scam?

Thebitcointrader.co Review – Is Bitcoin Trader a scam?

Beware! Bitcoin Trader is most probably a scam system! Your investment may be at risk.

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

 

Every successful venture such as forex trading has a dark side – in forex’s case the trouble-makers are known as crypto robots. Websites like Bitcoin Trader are often made in the most absurd manner with little effort to conceal their shady image. In all the instances we have looked at such robots, there is usually only a trailer-video on the website, boasting about the many advantages in registering with the crypto robot in question. With Bitcoin Trader we learn that we have the opportunity to make huge money of off crypto the same way many other successful entrepreneurs have in the past, and continue in the present. By registering, it will open a trading account for us and, basically, do all the work for us, while we only enjoy the profits.

Furthermore, what makes Bitcoin Trader stand out is their attempt to mislead potential visitors of the website that they’d been endorsed by Irish stars of Dragon’s Den: Gavin Duffy, Eleanor McEvoy, and Eamonn Quinn. There had even been an ad on media outlets BBC and The Guardian with quotes by the stars, before it was taken down. Later, Gavin Duffy came out with a statement distancing himself from the crypto robot and further implying he had never heard of it.  Here are his exact words: “It is a total scam. I contacted the BBC but trying to get these things down off websites, because it’s a paid for ad by the people behind this scam to give a sort of official veneer.”

No name, no address, no number

Our thorough research brought about unsurprising results. There is no information to be found on the website regarding the registered address, the supposed company behind the operation, nor even the country of origin. Bitcoin Trader is simply yet another crypto robot that is part of the most popular scam in the trading world.

Precisely such websites, promising riches and profits through crypto trading, mislead traders into registering and carelessly giving away their address, phone number and email. Minutes later, that same personal data is sent to brokers and the registered traders begin getting phone calls from unregulated forex brokers like MPLUSSOCIAL or Olimp Finance urging them to invest.

No verified track record

One of the biggest problems with crypto robots such as Bitcoin Trader is the lack of assurance for results. In trading there are platforms such as eToro or Zulutrade where you may search through the profiles of different traders, taking notice of his track-record in trading, whether losses or winnings are the majority. Such transparency adds significant assurance and partially, if not fully, removes risk. Where as with websites such as Bitcoin Trader you are relying on blind faith.

 

No regulatory supervision

We should also point out that such operations are not overseen by any relevant authority. The people behind the website are not included within a regulatory framework and may do pretty much as they please, irrespective of rules or safety mechanisms.

Last, but not least – the mere way in which such operations look for funds should raise major security concerns. If Bitcoin Trader truly did have to offer a product worth something, they would have found alternative ways of financing themselves, instead of relying on cheap traffic through a cheesy bait-clicking commercial about itself. They can apply for a credit at the bank, or another popular option among today’s crypto companies is raising money through crowd-funding. However, you need legitimacy in order to pull that off – something which is drastically missing with Bitcoin Trader.

All in all, Bitcoin Trader comes across as a standard scam operation – the likes of which we have seen a lot – and we advise those interested not to risk it.

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