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Crypto robots such as Bitcoin Profit are rapidly spreading and the Forex trading world is plagued by them. Often made in the most absurd manner – their websites remind one of slapstick comedy. In most cases all they have to offer is a simple, narrated trailer-video which, ideally, should convince traders to invest with them. Bitcoin Profit does not differ in this regard as we are presented indeed with a narrated video that first informs us of the opportunities arisen by the advent of Bitcoin and then goes no to show testimonials from supposed clients that have had significant winnings by taking advantage of the trading software that has been developed by Bitcoin Profit. We aren’t very sure what the product is -from what we could gather there appears to be some sort of autotrading application that needs only our initial deposit to begin filling our pockets with daily winnings. Attempting to register – they robot requires only a name and email – yielded no results as the website simply wrote out error despite filling out correctly the registration forum.
No name, no address, no number
After doing our usual research we come across disturbing, but not unexpected, results. It turns out that Bitcoin Profit is part of probably the most popular scam out there. Precisely through such websites, dressed up with farcical opportunities for winnings, traders are convinced to register and carelessly give away their address, phone number and email. Minutes later that same personal data is sent to brokers as “leads” and the registered traders begin getting phone calls from unregulated forex brokers like Capital4Bank or CCDFBank, urging them to invest. Cheap traffic is actually the product “Bitcoin Profit” and their “team of talented brokers” are offering, not some trading application ahead of the market that may incur riches to any willing trader.
No verified track record
Even if we choose to believe Bitcoin Profit about it’s new product – which we certainly do not advise – there are still problems. To put it bluntly – we have no assurance for results. In trading there are social trading platforms such as the Zulutrade where you may search through the profiles of different traders and see how much they are winning or losing before investing funds with them. This is done through tracking every deal they have made and even seeing the results of all the rest of their followers. Such transparency adds significant assurance and partially, if not fully, removes risk. Where as with half-baked and senseless websites such as Bitcoin Profit you are relying on blind faith.
No regulatory supervision
Furthermore, there is absolutely no regulatory guarantee about the whole product. The people behind the website do not fall under any regulatory oversight and their hands are untied to do pretty much as they wish. They also lack SSL encryption which compromises any information transferred through the website.
Last, but not least – the mere way in which such operations look for funds should raise major security concerns. If Bitcoin Profit truly did offer an exciting and legitimate product, it would have found an alternative way of financing itself, instead of relying on cheap traffic through a cheesy bait-clicking commercial about itself. They could apply for a credit at the bank or raise money through crowd-funding. Although, in order to do that successfully, they have to be legitimate – which they most likely are not.
All in all, Bitcoin Profit 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.