Bitcoin Profit is an automated trading software and app. There are many reviews about Bitcoin Profit, and almost all of them are fake. The original owners of this domain have either intentionally stopped paying for hosting, or were careless and forgot to pay the hosting provider. The bottom line is that the domain expired and our group of internet researchers spotted this and immediately purchased it. We did it to notify the public and warn them about this “so-called” automated trading software.
Since it’s inception in the early 2020’s, Bitcoin Profit has remained until this day one of the most viral and heavily promoted get-rich-quick crypto schemes. Today, we will explain in detail how it is supposed to work, who is behind it, who are the people that are really making the money, and where you can actually find the truth about this atrocious trading app.
First and foremost you should know that Bitcoin Profit has metastasized and taken many forms. The latest one is called “Bitcoin Prime”, and it has been exposed in this article: https://scamcryptorobots.com/bitcoin-prime-review-scam/. Additionally, Bitcoin Prime has also been added to the FSMA blacklist. You can read about it here.
Moving along, there is a nasty European website which claims that Bitcoin Profit is a “fast and accurate” automated trading platform that’s designed especially for beginners. In fact, almost ALL of the review websites endorsing Bitcoin Profit are affiliate websites which receive commissions every time a new member registers and invests through their campaign links.
Additionally, there are many fake Bitcoin Profit review websites which claim the app uses artificial intelligence to execute profitable trades. There are also claims that it is a “powerful software” that allows day-traders to generate passive income whilst trading digital currencies such as Bitcoin or Litecoin. And of course, all this is done on auto-pilot from the comfort of your own home.
Bitcoin Profit Duplicate Websites
There are about 6 different versions or variants of the Bitcoin Profit website, and over 20 websites claiming to be the “official” Bitcoin Profit website. This is done because there are different affiliate networks or media agencies. Each agency closes deals with different brokers, and the customers have to arrive through a certain campaign which is associated with the promotions agency. This explains why there are so many variations and formats of the same scam.
Bitcoin Profit Fake News
Bitcoin Profit is notorious for using fake celebrity endorsements. Dragons’ Den, Martin Lewis, Holly Willoughby, Elon Musk, Richard Branson, and Daniel Craig represent only a fraction of the celebrities which are illegally used for promotional purposes.
What Is Bitcoin Profit and How Does It Work?
Bitcoin Profit is supposed to be a trading robot which executes trades on auto-pilot without any need for human intervention. Some websites claim that there is advanced technology in the form of AI which powers it, whilst other claim it is an exclusive club reserved for new Bitcoin millionaires who were willing to “risk it” in order to make significant gains.
In reality Bitcoin Profit is just a fancy sales pitch with a colorful website and a registration form which is connected to a dirty CFD broker on the back end.
A CFD or Contract for Difference broker is basically the point of sale and the actual trading arena which also provides liquidity and the ability to buy and sell contracts according the given rates.
Many CFD brokers operate without a license, and that’s where the problems start since they are not accountable towards anyone besides their own profit margins.
Bitcoin Profit Review. Is Bitcoin Profit SCAM or Legit?
We believe we already answered that question. Bitcoin Profit is a scam and this is a fact which is beyond any dispute. But by all means don’t believe us, you should check with your local regulator. The FMA in New Zealand has branded this website as a scam.
Feel free to read the link above says.
So that answers the question of “scam or not”. But let’s review Bitcoin Profit regardless just for shits and giggles.
Customers registering for this fraudulent software would actually expect to find some kind of trading dashboard, signals, indicators, or possibly some strategies. With one exception, this does not exist. In other words, in most cases there is NOTHING besides a direct registration form. There is one provided which offers a signals dashboard, but it doesn’t work. It’s designed to make it seem more believable but there is nothing of substance there.
Bitcoin Profit – Deposit Only Brokers
Bitcoin Profit offers brokers that will gladly accept your initial deposit, but when it comes to making withdrawals it’s like hitting a brick wall. It’s practically impossible to cash out existing funds, and this has to do with the fact that affiliate marketers receive incredibly large referral commissions for every depositing trader.
The fraudulent brokers have to cover their marketing fees and actually try to make money in order to keep their dirty operations running and profitable. This is practically impossible to do if they start paying traders. So that money is gone and there is no recourse.
Going through a 3rd party in order to retrieve lost or stolen funds via the Bitcoin Profit scam will not help either. In every case these companies will demand money up front for legal services, but will never guarantee any success. So in essence, companies trying to “assist” you in recovering lost money are actually a part of this evil eco-system which is responsible for defrauding thousands of victims a year.
Fake Bitcoin Profit Reviews
Below you can see how a fake Bitcoin Profit review looks like. This website belongs to search engine promotions company which is based in London. They have many review websites and flood the internet in order to trick visitors into joining these illegal schemes.
Unfortunately fake reviews like the one we can see here are not about to go away any time soon. In fact, this trend is just gaining more popularity with scammers who understand how to trick innocent victims by convincing them that get-rich-quick schemes like Bitcoin Profit are legitimate investment platforms.
Bitcoin Profit Review, Summary, and Obvious Conclusions
Bitcoin Profit is a scam. Almost all of the review websites we found endorsed it, and that is because they are operating as affiliate marketers seeking to receive referral commissions from their campaigns. In a nutshell, please avoid the Bitcoin Profit scam and seek alternative investment opportunities.