Beware! Bitcoin South African System 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.
The so-called “crypto robots” are plaguing the online trading world and raising the risk of trading. Usually with such robots we will see only a website with a trailer video describing a hot offer on the crypto market. And Bitcoin South African Software System does not differ much from the rest. A cringy video begins describing in great detail and with vigor all the opportunities that await everyone who has decided to register with them. Firstly, we go through a short tutorial about bitcoin and it’s impact on the global economy. Afterwards we are told we need only register and deposit $250 of our money to get a taste of all the profits that await crypto enthusiasts. The “automated” trading software will begin trading for us and making us insane amounts of money for a very short period of time. One can only marvel at such ingenuity. All this sounds really nice, but is there even a shred of truth in all the bombastic statements of the crypto robot?
Same people, different scam
Our thorough research did not bring any surprises – as usual with crypto robots – which are pretty much all the same – we did find information on the website regarding the registered address, and the supposed company behind the operation, however, we found other things as well, disturbing things. The broker brand of the company Bitcoin South African System Software figures on the internet only in complaints from supposed ex-clients who have been swindled. If it were legitimate we should’ve come across at least one positive mention of the company.
Furthermore, after closely looking through our previous reviews we see two crypto robots which are pretty much identical with Bitcoin South African System Software. Both BitcoinMalaySystem and BitcoinSystemApp have pretty much the same website, same offer and even the same logo! They also all have really bad-sounding names. All this highly inclines us to believe that Bitcoin South African System Software is only used as a bait for traders who’ll share their personal info hoping for a quick buck and that it has many outlooks in order to target traders in different countries. This is pretty obvious from the different flags that figure in the used logos.
This is perhaps the most popular scam in the trading world. Precisely such websites, promising unrealistic winnings 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 TGCFX or PolarityIndex urging them to invest. The sting operation here is simple – the people behind Bitcoin Malay System receive fat commissions for every trader that invests.
No verified track record
One of the biggest problems with crypto robots such as Bitcoin Malay System is the fact that we have no way of being assured about the results, that our expectations will be met. Platforms such as eToro or Zulutrade allows you to search through the profiles of different traders, taking notice of his track-record in trading, whether losses or winnings are the majority. All this transparency further helps trust to be created between the client and provider. Something which is seriously missing with Bitcoin South African System Software and traders are left relying only on the word of a crypto robot, and that hardly is enough.
No regulatory supervision
We should also point out that such operations are not overseen by any relevant authority. The people behind Bitcoin South African System Software are not bound by any government regulator and they can do pretty much as they please. We should also add that the crypto robot does admit this fact on it’s website and does not attempt to mislead traders into thinking it has a licence from a regulator.
Last, but not least – mere way in which such operations seek funding is troubling. If Bitcoin South African System Software truly had something of value to offer, they wouldn’t be relying on cheap traffic through a badly-done website, but would have found alternative means of financing itself. They can apply for a credit. Another popular option among today’s crypto companies is raising money through crowd-funding. However, those options are available only for legitimate companies, and Bitcoin South African System Software most certainly is not among those.
Having in mind everything that was laid out – we must say that Bitcoin South African System Software strikes us as a standard scam operation and we advise those interested not to risk it.