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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.
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.
Step by step how to sign up with Bitcoin System
Step 1: Registration
Go to the landing page of the bot’s website. Sign up by filling in your name, email address, phone number, then set a password and confirm. As a verification procedure, an email is sent with a link. Click on the link to verify the details entered. The sign-up process is free.
Step 2: Deposit
After the account is verified, go to the My Account page and click on Deposit. The minimum amount that can be deposited is $250 and this can be done through major online payment systems and credit/debit cards. Once the initial amount has been deposited, an investor can increase the amount at their leisure.
Step 3: Start trading
The system is designed to manoeuvre derivatives into making trading decisions. However, the investor has the decision on which cryptocurrency to invest in, what to purchase and the exchanges he or she can make. The investor manages the risk by setting the loss ceiling and profit margins that are considered below the bet and above the board, respectively.
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.
Pros and cons of Bitcoin System
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.
Frequently Asked Questions
Profits can be maximised based on the pricing models on trading. Currently, the procedures on pricing are not yet out due to systems maintenance. When the bot will be up and running, the process will be shared. It is also advisable to start by investing the minimum, and gradually increase the stake. This gives room for growth and closely monitors profit margins.
Bots help is market analysis and monitoring derivatives on cryptocurrency trading. After setting the expected ceilings and floors, the bot will select the opportune time to invest.
The system is yet to be released to the public. The effect of blockchain is huge to the global economy, and if the system being developed will make the exchange easier, prominent names will want to be part of it.
Every top-ranking crypto robot has an android and iOS application to make trading readily available. There are preparations for a Bitcoin System application to that effect. It is just a matter of time before it is released to the market.
Once you have an account, deposits are done through the ‘My Account’ portal on the bot. It is simple, but secure.
No. A bot carries out all the necessary investing as per the instructions configured. The account owner just needs the account and a few instructions on expectations.
Expected returns are determined by the market forces. However, since the cryptocurrency market growth is on the rise, investors expect handsome returns at the end of the business. Moreover, the bots have instructions to invest the funds when it is lucrative.
The website, system and mobile application for Bitcoin System are under renovation. When the whole process is completed, the bot will be released into the market for trading. Bitcoin System has no complaints accusing it of being a scam.