We are aware of numerous websites which use false celebrity endorsements to send customers to unregulated brokers or call centers. Our website will only send customers to partners who have provided us with the required regulatory assurances. This is a marketing offer and our regulated partners will indicate what services they have available upon registration.
The future of finance is in cryptocurrency, thanks to the liberalisation of trade arrangements. Bitcoin System is one of many software products that claims to automate trading processes in order to earn more profits for its users. But is this platform authentic? Since these types of trading bots have grown in popularity among investors, many companies have built websites that promise huge returns with no effort required. Once subscribed, you are redirected to an affiliated, non-regulated broker, where your investment is likely to disappear before your eyes. This review will test the Bitcoin System robot in order to evaluate its legitimacy.
Table of Contents
What is Bitcoin System?
Bitcoin System is a website that claims to earn users immense profits through the use of an auto-trading cryptocurrency robot. The website is similarly designed to many other bot homepages, requesting targeted customers to register an account and deposit their hard-earned cash. Bitcoin System then redirects you to a brokerage, and in all likelihood, you will receive a call from this company who may request personal details. These brokers are affiliates of Bitcoin System, meaning that the bot homepage is merely a gateway to unregulated brokers. Bitcoin System receives a commission for every customer they send their way.
Who is Behind Bitcoin System?
The founder of Bitcoin System is as yet, unknown. The website claims to still be under maintenance. We monitored the progress of this so called 'maintenance' and have not seen any change in months. It is more likely that this is a diversionary tactic, aimed at explaining why there is no transparency in regards to the websites creators. No transparency, means no accountability.
Is Bitcoin System a scam?
With increased cyber-crime on financial institutions and systems, care should be taken to verify the truthfulness of the crypto bot. The process of confirming the validity of the bot is complex, but necessary if you want to avoid being duped. The first place to look is the comments section, allegedly posted by previous users. It did not take us long to discover that these testimonials were identical to ones belonging to platforms that we have already identified as scams. They merely had a different face attached to the lie. Obviously, the red flags had already begun to ascend.
The next thing to consider is the promises made by the platform. Even genuine products tend to oversell on this point, but the claims made by the Bitcoin System homepage were frankly, absurd. They inform their 'targets' that they will earn thousands of dollars every day, from a deposit of only $250. With our years of experience with investment trading, we can tell you with confidence that this is not possible.
Finally, we examined the reputation of the broker that we were redirected to. After discovering that the company was off-shore, with no regulatory authority overseeing its practices, our decision not to proceed any further, was a wise one.
Taking all of these factors into account brought us to the conclusion that Bitcoin System is a scam, and we would strongly advise anyone against using it. You are very likely to lose all of your money if you place it into the hands of these unknown individuals.
Bitcoin System joins the back of a very long line of websites designed to mislead people into handing over their money, with fake promises of massive returns. There are certain responsibilities that you must take for your investments. Before you hand over any money, or even your bank details, be sure to check the regulatory status of the broker that will act on your behalf. If they are unregulated, there is no authority that can action any complaint you may have over malpractice, fraud and theft.
We would strongly advise that you stay away from Bitcoin System. There are a number of robots that we have judged as genuine, and we would strongly recommend that you use one of those instead. There are market leaders in this category like Bitcoin Trader and Bitcoin Evolution, and you can find many more on our Robots Hub Page.
[faq cat=bitcoin-system title="FAQs"]