Review Bitcoin Era App is a Loosing SCAM. Stay Away!

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Bitcoin Era Review : Comprehensive Sign Up Guide [2020 Updated]

Searching for Bitcoin Era Reviews ? Check out our comprehensive Bitcoin Era Review before you sign up with this system. The Bitcoin Era is a trading robot that is said to have a win-rate of 92%. As a result, the robot reports daily profits of up to $1500 from a deposit of $500 or less. With the many scam robots out there, most people are not sure whether Bitcoin Era is legit. We have received almost 50 emails requesting us to do a review of this robot.

Our investigation confirms that Bitcoin Era is real and less likely a Scam. We have arrived at this conclusion after reviewing a lot of data.

Let’s take a deep dive into Bitcoin Era and explore the opportunities and risks it presents. You can go straight to this robot website by clicking the link below. However, we would recommend that you read this Bitcoin Era review first before creating an account.

*Remember all trading risks and you shouldn’t risk more then you can afford to lose.

Table of Content

What Exactly is Bitcoin Era? Overview

The Bitcoin Era App is a piece of software that is allegedly customised to read crypto markets data and make trading decisions automatically. The Bitcoin Era algorithm depends on proven crypto trading strategies. These strategies are coded into a robot that carries out all the functions of a trader with minimal human intervention.

You do not need any expertise to use the Bitcoin Era. Once you register and make a deposit, you can sit back and watch as the robot works for you. With a claimed win rate of 92%, Bitcoin Era claims to make money in every nine out of ten trades. This means that there it allegedly presents a high probability of making consistent profits.

However, there is a significant risk of losing your capital with this robot, especially if you risk more than 10 percent of your capital per trade. Like in any other form of trading, it is prudent that you trade with an amount you can afford to lose.

Another thing worth noting about Bitcoin Era is that it does not require a license fee. However, like most other robots, traders must part with a small commission on the profits they generate through the robot. There are rumors that this robot will introduce a license fee soon due to its high demand. We suggest that you take advantage of this robot and create a free account now.

How Does Bitcoin Era System Work?

As mentioned above, Bitcoin Era is a computer algorithm based on the trading strategies of the world’s best crypto trader. The robot can allegedly read market big data and derive insights within microseconds. This explains why some believe it is more than ten times accurate than the best human trader.

Also, trading robots remove human emotions from trading. The emotions of fear and greed are the most destructive in trading. During manual trading, traders are often tempted to go against their strategy when things are good or not so good.

For instance, when a strategy appears to be working well, a trader is likely to get greedy and risk more than their trading strategy dictates. Likewise, they are likely to get fearful when the strategy appears not to be working well and abandon it. Trading robots are believed to allow traders to stick to proven strategies and hence avoid the bad decisions that result from emotional trading.

Bitcoin Era trades on margins with its partner brokers offering a leverage of up to 1:1000. High leverage means that you can place a bigger trade with a fraction of your capital. For instance, leverage of 1:1000 allows the trader with a deposit of $250 to place trades worth $250k.

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Is Bitcoin Era App legit or Scam? CryptoVibes findings

The Bitcoin Era software appears to be legit. Our investigation includes an analysis of users’ feedback and verification of information provided by the robot.

The Bitcoin Era App appears to have a good reputation among users. Moreover, we find its customer service to be excellent. We have also determined that its platforms are easy to use and secure. As mentioned earlier, anyone including a complete beginner can use this platform.

  • Bitcoin Era System has reportedly shown consistency in profitability with most people who try it on their website reporting a daily profit of at least $100. However, remember all trading risks and you shouldn’t risk more then you can afford to lose.
  • We find Bitcoin Era platforms to be secure. Moreover, its web-trader is highly responsive and intuitive. Live trading involves specifying the amount of capital you are willing to risk per trade and clicking the live button.

The Bitcoin Era tops the list of the few legit crypto markets you can find today. This review compares it with Bitcoin Future, a similar crypto trading robot. You can read our Bitcoin Future review to learn more about how the two compare.

*Remember all trading risks and you shouldn’t risk more then you can afford to lose.

Getting Started With Bitcoin Era App

You need to have an account with Bitcoin Era and deposit a minimum of $250 to start trading with this robot. As we will see below, the account opening process is a piece of cake. The process takes less than a minute.

Consequently, you can start trading in the next 20 minutes if you decide to register now. Bitcoin Era is only available in a few countries. Scroll down to the bottom of this page for other legit robots if this robot is not available in your country.

STEP ONE: Create An Bitcoin Era Account

Open the Bitcoin Era homepage and register your details in the form displayed on the right upper corner of the page. You will be asked to fill your name, phone number, and email. As usual, you must verify whether the number and email you provide is yours.

You also need to create a password during this step. Bitcoin Era takes this process very seriously given that passwords are the number one entry point for attackers. As a result, a good platform should ensure that users are safe by providing strong password creation methods.

STEP TWO: Connect With A Broker

After registration, The Bitcoin Era automatically links you to a regulated broker in your area. The role of the broker is to receive deposits and facilitate transactions. The Bitcoin Era is not allowed by law to collect deposits and must, therefore, transact through a partner broker.

This review confirms that Bitcoin Era only partners with the best brokers. These brokers have adequate regulation and a good reputation. If you are using this robot from the UK, your underlying broker is regulated by the Financial Conduct Authority (FCA).

Likewise, traders in Australia fall under the regulation of the Australian Securities and Investment Commission (ASIC). Those in South Africa fall under the regulation of the Financial Service Board (FSB). The FCA, ASIC, CySEC, and FSB are the world-leading regulators.

STEP THREE: Deposit A Minimum of $250

Bitcoin Era requires users to deposit a minimum capital of $250 to start using it. This amount is the trading capital and should not be confused with the robot fees. Bitcoin Era is a free robot. The robot revenue model involves charging a small commission on earnings generated through it.

We have found that the deposit process with Bitcoin Era is straightforward and safe. Visit the deposit page and register your billing details as required. Remember that any data you submit through the registration form is transmitted to the partner broker.

As mentioned above, these brokers are regulated and reputable, and your billing information will be safe with them.

STEP FOUR: Risk Management Setup And Live trading

The setup involves specifying the amount of capital you wish to risk per trade. We suggest that you select 10% or less. Remember that the more you risk per trade, the higher the chances of making significant losses. Bitcoin Era trades on margin, and hence there is a possibility of your account going into the negative.

After specifying your risk appetite, you can now start trading by clicking the live button. You should let the bot to run for at least 8 hours per day. The US market is the best to trade since it accounts for at least 90% of the volatility.

Switch off the robot at the end of each trading session to avoid unexpected market movements. Also, withdraw your profits if you do not intend to reinvest them. Bitcoin Era does provide a comprehensive guide to help new traders get acquainted with its platform.

Bitcoin Era Holly Willoughby

Holly Willoughby is a celebrity TV presenter and the co-host of the top-rated This Morning show which is aired on ITV. Some reviews claim that Holly Willoughby has endorsed Bitcoin Era and is likely one of its investors. Cryptovibes has fact-checked this information and did not find a shred of evidence that it is true. This can only mean that those making these claims are lying.

Perhaps the reason as to why Holly Willoughby is associated with Bitcoin Era is because the This Morning show has discussed bitcoin in several episodes. However, it has never endorsed bitcoin let alone bots that trade it. Bitcoin Era is a viral robot which means that it is not unexpected that it is a target for fake news.

Bitcoin Era Piers Morgan

Piers Morgan is the host of the renowned Good Morning Britain show which airs on ITV. Some unscrupulous affiliates have also associated him with Bitcoin Era. However, our investigation finds no evidence that Piers Morgan has endorsed Bitcoin Era. Any review making such claims is likely to be misleading. We recommend that you always countercheck any piece of news before taking it as the truth.

Gossip blogs are nowadays taking advantage of trending keywords such as Bitcoin Era to create clickbait titles. Their aim is to get people to visit their platforms and hence boost search engine ranking. Bitcoin Era is a legit robot but not all information you will find online about it is accurate.

Is Bitcoin Era App Legit? Our Verdict!

Bitcoin Era appears legit. Moreover, it is easy to use for all types of traders. No particular skill is required to operate this robot.

Remember all trading carries risks and you shouldn’t risk more then you can afford to lose.

How much does Bitcoin Era cost?

Bitcoin Era is a free robot. Its revenue model requires traders to pay a small commission on any profits they make through the robot.

How much can I earn with Bitcoin Era?

This robot reportedly can generate up to $1k per day from a deposit of $500 or less. The bot claims that their high profitability is a result of the cutting-edge technologies behind its algorithms.

How much capital should I deposit with Bitcoin Era?

You should begin trading with the minimum deposit of $250.

Can I withdraw my profits from Bitcoin Era?

Yes! There are no restrictions to withdrawing your profits from this robot. It takes less than twenty-four hours for withdrawals to reflect in your bank account.

Trading is comes with risk. All content on our website is provided solely for informational purposes, and is not an offer to buy or sell or a solicitation of an offer to buy or sell any security, product, service or investment. The opinions expressed in this Site do not constitute investment advice and independent financial advice should be sought where appropriate.

Mark Graham is a finance writer based in London, UK with over 8 years experience in cryptocurrency and stock writing. He has written for a number of online publications and enjoys writing about auto-trading tools.

Comments 78

Christmas is approaching, and I have to earn a good amount from Bitcoin Era. Any tips?

Hey David, I hope you are doing well as it is known to everyone that this bot has an amazing profitability ratio, and one can earn a good amount of profit by trading well and persistently. Best of luck!

I want to invest all the money that I got after selling the land in Bitcoin Era.

Hi Kenzo, I hope you are good. It is encouraged that you are thinking of starting trading, but investing in a single go is not recommended as there are times of breakeven that might lead you to lose money. Good luck!

Are traders all around the world satisfied with Bitcoin Era?

Hey Karsyn, I hope you are fine. Yes, the general audience is very satisfied as the speed and authenticity are the plus factors of this bot. Also, it has a profit ratio of more than 87%. Happy trading!

Why do Bitcoin Era demands registration fee from its traders?

Hey Watson, I hope you are doing well. Dear, this is not the right news as there isn’t a thing as registration fee just a preliminary amount of 250$ that allows traders to trade well. Good luck!

Bitcoin Era must have a very good profit ratio; that is why it is used all around.

Hey Justin, I hope you are well. Yes, the traders are satisfied because the profit ratio is very good. It has a more than 87% profit ratio, which isn’t provided by every bot. There are fluctuations in the market but only on occasions. Best wishes!

What are the preliminary requirements for being an expert trader?

Hey Wren, I hope you are doing good. There isn’t any such thing as an expert trader. A profitable trader focuses on the trade and invests gradually so that if he loses any money at the time of breakevens, he can recover back the next time he trades. Happy trading!

Can anyone grant some excellent tips for trading in Bitcoin Era?

Hey Perry, I hope you are well. There are no special tips for trading. One just has to stay persistent and gradual while trading. A good pace can let the traders earn a good profit. Happy trading.

Is this possible that my mother and I make a joint account in Bitcoin Era and trade together?

Hey Benjamin, I hope you are fine. Bitcoin Era does not support sorry but joint accounts. For your mother and you to trade, it is obligatory to have two different accounts. Wishing you the best of luck!

I just invested a fair amount of 100$ and earned a profit of 200$ from the Bitcoin Era. I am happy.

Hey Oliver, I hope you are in the best of your health. very good that we have a contented customer sharing this amazing news with us. Wishing you more best of luck for the future. Keep trading!

What is the highest and lowest limit of profit that can be earned through the Bitcoin Era?

Hey Hozier, I hope you are doing well. This market goes through fluctuations, and there are breakevens at times, so no high or low limit can be told to the traders. It only demands focused trading. Good luck!

With various bots available, why is Bitcoin Era still considered the best bot?

Hey Lilly, I hope you are good. It was never said that this bot is the best of all, as all other bots that are recommended on Cryptovibes are good. Bitcoin Era, however, has great speed, authenticity, and more than 87% profit ratio.

What payment strategies are offered by Bitcoin Era?

Hey Phoebe, I hope you are good. Bitcoin Era offers four different payment strategies to its traders, which include debit cards, credit cards, nettler, and skrill. It gives traders a choice and versatility. Good luck with your trading journey.

I have heard a lot of people are using Bitcoin Era, are they satisfied?

Hey James, I hope you are well. Yes, the traders are satisfied with the audience as the profit ratio is perfect, and the speed is excellent. There are fluctuations at times, but the overall response is very positive. Best wishes!

I want to know about the authenticity of Bitcoin Era.

Hey Elijah, I hope you are doing fine. This bot is very authentic as it is used by several traders and is not a scam. Bitcoin Era also provides a profit ratio of more than 87%, which makes it more likable among the traders — wishing you the best of luck!

Bitcoin Era should introduce its app for making trading simple for its traders.

Hey Lucas, I hope you are well. Excellent observation, but the experts of this bot are already working on it, and the app will be available anytime soon. Wishing you the best of luck!

What if I trade for consecutive fourteen days in Bitcoin Era?

Hey Noah, I hope you are in the best of your health. It’s terrific that you are thinking of trading. Still, the only requirement is to be persistent and gradual, otherwise trading for consecutive days, and leaving it altogether is not good because of the fluctuations of the market. We wish you the best of luck!

Is Bitcoin Era really as secure as it is presented?

Hey William, I hope you are good. Yes, it is secure and not a fake bot. Many people are using it, and they are good with the services of this platform. Wishing you the best of luck!

I have lost 400$ while trading with Bitcoin Era. I am discouraged about it.

Hey Stuart, sorry for your loss. The time in which you were earning might be an occasion of breakeven, that is why you lost it. Don’t lose hope and trade persistently you will recover what you have lost. Good luck!

I was thinking of starting a food chain after earning a good amount from Bitcoin Era for one month. Any tips?

Hey Samuel, I hope you are fine. That’s an excellent thing that you are thinking of doing it. The only tip to earn a good amount is to trade gradually and stay persistent; that is how you can earn well. Good luck.

I want to know about the best trading bot out there.

Hey Elia, I hope you are good. All bots that are recommended are good, and people are also very contented with Bitcoin Era. It has good speed, authenticity, and more than 87% profit ratio. Best wishes!

What is the right time to take money out after I have earned it from Bitcoin Era?

Hey Phinnes, I hope you are in the best of your health. you can take out the earned profit anytime you want. However, the lowest time span is 48 hours after earning the income. Best wishes!

My daughter wants me to arrange a thanksgiving party for her friends. I hope I will be able to earn a good amount of profit till then from Bitcoin Era.

Hey Elliot. I hope you are in the best of health — happy Thanksgiving in advance. You will be able to earn a good amount of profit if you invest gradually. We wish you good luck!

Is it a special requirement to start trading right after making a new account?

Hey Millan, I hope you are doing good. No, it is not necessary as Bitcoin Era allows its traders to practice in the demo account as much as they want — best of luck for your trading journey.

What tremendous amount can I earn from the bitcoin era as I have to surprise my best friend on her birthday?

Hey Dylan, I hope you are in the best of your health. Pleased birthday to your friend and to earn a good amount of profit you have to invest gradually. Best wishes!

Is Bitcoin Era a legal platform?

Hey Erica, I hope you are well. Yes, dear, it is an entirely legal platform as people from various parts of the world are using it and are content with it. Best wishes!

Is trading legal with Bitcoin Era?

Hey Annie, I hope you are well. Yes, dear, trading in Bitcoin Era is legal, as so many people all around the world use it, and the traders are from different parts of the world. Good luck!

I have to throw a graduation party to my daughter after a month how much can I earn within this period from Bitcoin Era?

Hey David, hope you are fine. It’s very good news that you are thinking of doing it. This bot has a fantastic profitability ratio and lets you earn a good amount of profit only if you trade well and constantly. Good luck!

Do I have to start trading right after I make a new account in Bitcoin Era?

Hey Lovisa, I hope you are fine. No dear, you don’t have to do that as Bitcoin Era gives its traders the option to practice in the demo account as long as they want and then start trading. Best of luck!

I have been thinking of using Bitcoin Era to earn money for my publishing business.

Hey Wendy, I hope you are in the best of health. It’s good that you are thinking of doing it, and Bitcoin Era is the best place to earn a profit, but only continuous investment and the right strategy can lead you to that. good luck

Which is the best trading bot?

Hey Eric, I hope you are well. All the bots that are recommended on Cryptovibes are good. Bitcoin Era has outstanding speed, its authentic and it offers more than 85% to its traders. Best of luck!

After earning the profit, when can I take out the money from Bitcoin Era?

Hey Susie, I hope you are doing good. There is no such thing as time restriction as the profit earned is yours, and you can take it anytime you want. The minimum time limit, however, is 48 hours after earning it. Happy trading!

Can Bitcoin Era be considered a secure bot?

Hey Hedda, I hope you are well. Yes, it can be as it supports no scams and is very authentic. The number of traders trading in this bot is pretty good, and it is liked all around the world — the best of luck.

I lost almost 200$ while trading in Bitcoin Era, and I really can’t get where I went wrong.

Hey Gabler, I hope you are fine. There are times when there are breakevens on occasions, and that time trading is not good as it can lead you to lose money. Good luck!

What days of the week can I trade in Bitcoin Era?

Hey Aiden, I hope you are doing well. No dear, there are no days restricted for trading one can trade any time of the week; there are times when there are breakevens, but no time is restricted for trading.

If I trade for one week consecutively, how much profit will I earn from Bitcoin Era?

Hey Billie, I hope you are well. No amount can be told, you have to trade gradually as there are breakevens, and for the trade to run smoothly, one has to be patient. Best of luck!

What is the procedure of getting the app of the Bitcoin Era on the cell phone?

Hey Fredrich, I hope you are good. The application isn’t yet launched, but the experts are working on it and intend to launch it anytime soon. Till then, it can be used on cell phone browsers.

Is Bitcoin Era authentic or just a scam bot?

Hey Elliot, I hope you are well. Bitcoin Era is by far the most authentic and secure bot. It can be analyzed by the number of traders who are currently using it. Best of luck!

Are traders from all around the world satisfied with Bitcoin Era?

Hey Anastasia, I hope you are good. Yes, as far as the overall traders are concerned, they all are delighted with its excellent profit ratio and speed. If you are thinking to trade, you should just rush in. Best of luck!

Is the demo helpful for actual trading in Bitcoin Era?

Hey Stuart, I hope you are well. Yes, the demo is very helpful as it helps to practice as much as you want. There are occasions of breakeven, but trading persistently will let you earn a good amount. Good luck!

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Trick Berjalan Bandar Poker Online Yang Jarang-jarang Terlihat
Kalau Dikau adalah orang yg seringkali main judi online, tetap saja Anda mengerti Permainan Bandar Poker Online dapat mendatangkan keuntungan yg subtansial. Permainan ini demikian dapat dimenangi pada saat Dikau dapatkan gabungan kartu mengelokkan tinggi bikin dapat mengakibatkan keuntungan yg subtansial. Per judian online dengan menggunakan sajian Poker Online antara wahid yg demikian menarik dalam dunia. Banyak sebagian orang2 yg membuahkan keuntungan daripada permainan ini pada beserta sisi yg dapat beralih jadi seseorang profesional kuat.

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Beware of These Top 5 Bitcoin Scams

The value of bitcoins goes up, and then it comes back down. The press is all over the story. Pundits and market watchers all have their opinion and voice it loudly across the airwaves and the Internet.

Bitcoin has taken us all on quite a rollercoaster ride. Only time will tell whether this cryptocurrency, which has been controversial since its introduction in 2008, will continue booming or if the bubble will burst and prompt more people to short-sell Bitcoin.

One thing is certain: Bitcoin’s meteoric rise has attracted a lot of attention. People may not understand the technology or philosophy behind Bitcoin, but they do see stories of early adopters and savvy investors who turned a few thousand bucks into millions when Bitcoin’s value increased.

And they want to be one of them.

Unfortunately, that puts them in a position—along with veteran investors—to be victims of opportunistic con artists and hackers who perpetrate Bitcoin scams. One of the benefits of cryptocurrency is that it’s unregulated by the government and very private. But that also makes it ripe for fraud.

Let’s check out the top five Bitcoin scams you need to look out for:

Bitcoin Scam 1: Fake Bitcoin Exchanges

In 2020, South Korean financial authorities and the local Bitcoin community exposed one of the most insidious Bitcoin scams: a fake exchange called BitKRX. It presented itself as part of the largest trading platform in the country and took people’s money. To avoid this, you should stick with popular, well-known Bitcoin exchanges and Bitcoin forums so you get news of fakes quickly.

Bitcoin Scam 2: Ponzi Schemes

Bernie Madoff is perhaps the most well-known Ponzi schemer. He did it with mainstream investments. But the principle of a pyramid scheme, in which you take money from new investors to pay previous investors, can be applied to Bitcoin scams. MiningMax, one such scheme, brought in $200 million before 14 fraudsters were arrested. As you can imagine, the investors never got any returns on their Bitcoin investments.

Bitcoin Scam 3: Fake Cryptocurrencies

A common scam is to present a new cryptocurrency as an alternative to Bitcoin. The idea is that it’s too late to cash in on Bitcoin and that you need to invest in one of these up-and-coming cryptocurrencies. My Big Coin was shut down for this reason. The fraudsters behind My Big Coin took $6 million from customers to invest in the fake cryptocurrency and then redirected the funds into their personal bank accounts.

Bitcoin Scam 4: Old School Scams

If somebody emailed or called and said they were from the IRS and that you owed back taxes that had to be paid immediately, would you send them money? Many people do. Instead of having the victim wire money via Western Union or transfer funds to a bank account, con artists are contacting victims and demanding that victims transfer bitcoins. The best way to avoid this scam is to be skeptical of phone calls or emails that say they’re from a government agency. Legitimate authorities wouldn’t contact you that way, and they won’t ask for bitcoins.

Bitcoin Scam 5: Malware

Malware has long been a way for hackers to get passwords needed to access computer networks or steal credit card and bank account numbers. Now they’re using it to conduct another one of the most common Bitcoin scams. If your Bitcoin wallet is connected to the Internet, they can use malware to get access and drain your funds if you’re not protecting yourself from malware.

You can download malware by clicking links in your email. You can also download it from websites and social media. There might be a post, for example, where someone claims a certain program allows you to mine bitcoins for free. Download it, and you get malware.

When in Doubt, Verify

If you’re not sure of a website or email’s legitimacy, contact the company involved directly. If you can’t find the company’s contact information easily on social media or on its website, that’s a red flag.

Don’t Fall Victim to Bitcoin Scams

Bitcoin is a volatile enough investment as it is. Don’t increase your chances of losing money by falling prey to these Bitcoin scams. Stay alert for potential fraudsters and trust your instincts. If something seems too good to be true, it probably is.

Bitcoin Revolution Review: Proof that it’s a Scam – Stay Safe

Cryptocurrency and blockchain industry has ballooned over the last five years and become one of the largest and most dynamic sectors in the world. Millions of people from all across the globe have invested in cryptocurrencies and initial coin offerings. Just like any other new industry that is lucrative, scammers dive in and try to use the innocence of investors to make money.
One such fraud website is the Bitcoin Revolution. Since its inception last year, it has managed to trick millions of people as evident from the hundreds if not thousands of negative reviews online. Here are the primary reasons why Bitcoin Revolution is a fraud and should not be trusted. If you were considering registering, think again and take time to read this article.

Why Bitcoin Revolution is A Scam – The Hook

Cryptocurrency investors make money by investing in a cryptocurrency and trading it later at a profit. Bitcoin Revolution capitalizes on this by pretending to be providing an application that gives its users an undue advantage in the cryptocurrency trading industry. They claim that this application has a 99.4% accurate trading signals which are not possible regardless of the technology since this industry is the most unpredictable and dynamic in the world today.

The second hook that they use to get money from unsuspecting investors who are looking for a way to make quick money is by saying that the application is 0.01 seconds ahead of the traditional markets. The entire application Is a hoax that is meant to pull in people and never works as promised.
Bitcoin Revolution has also mastered how to feed off the fear that a majority of investors in the cryptocurrency industry missed the recent Bitcoin bull run and do not want to miss the next one. Nobody knows when the next bull run will occur due to the main unpredictable factors that come into play, but this swindle website claims that its app can predict its occurrence accurately and help its clients’ profit.
The fourth thing that proves Bitcoin Revolution is a scam is that it uses images and videos of renowned celebrities to promote its service without their consent. Recently, several celebrities have held press releases denouncing any affiliation with the website. Now, if the company was legit and confident about the service it offers, why would it use celebrity videos and images without their consent? After all, it is making enough money from the app to hire celebrities as influencer marketers.

Closing Remarks

Bitcoin Revolution is one of the ingenious scams in the modern day that has caught so many people by surprise. The target audience is lazy and impatient investors who believe in microwave success and quick money schemes. There is enough evidence to show that the website is a scam and should not be trusted.

Hundreds of professional crypto traders from all across the globe have written articles about this scam to discourage people from investing in it. Unfortunately, getting the people working behind the scenes to ensure the site is always live and functional is proving difficult for the authorities. We hope that they will soon be apprehended.

If you want to become a better Bitcoin trader, read this Bitcoin 101 article.

Stay safe by AVOIDING Bitcoin Revolution – IT’S A SCAM!!

Beware of These 5 Bitcoin Scams

Bitcoin’s meteoric rise in prices in 2020 awakened mainstream interest in the original cryptocurrency.   But the rise in interest has not been without consequences. One of the downsides of new investors entering the market is the increase in the number of scams, frauds, and stories of retail investors who lose their coins to shady ventures. From ICO scandals to wallet theft and fraud, regular consumers can fall prey to crime easily.

It may seem as though it’s the Wild West for investors, but it doesn’t have to be. While there are certainly risks in the market, the opportunities may be irresistible for some. However, being cautious is always a must, and there are clear signs of scams that investors can look for. By avoiding these traps, users can better their chances of success and protect their investments. These are some of the most common scams and how they can be avoided.

Key Takeaways

  • Bitcoin investors can increase their odds for success by identifying common scams, such as Ponzi schemes, fake ICOs, and fraudulent exchanges.
  • One common scam, exposing bitcoin users to theft, is the sale of a hardware wallet with a compromised pre-configured seed phrase, which allows hackers to steal funds.
  • Since bitcoin exchanges are unregulated, fraudulent exchanges can trap investors with the promise of unrealistic prices and heavy discounts on use.
  • Websites featuring fake ICOs instruct users to deposit funds into a compromised wallet through their site, resulting in the theft of funds.

Hardware Wallet Theft

For users who are concerned with security and privacy, a hardware wallet—a physical device that stores their private keys—is an increasingly popular option. Usually, as small as keychain USB drives, these wallets offer an offline way to help crypto investors protect their bitcoin even further. However, there have been reports that some of them have built-in vulnerabilities that open them to hackers that could easily steal all a user’s holdings. 

This is far from the only issue, however. According to Ofir Beigel, the owner of

One scam entails selling hardware wallets to users with a ‘pre-configured’ seed phrase hidden under a scratch card. The new user is told that he should scratch the card . and set up the wallet with the compromised seed.

This creates a backdoor that allows hackers to drain funds once a wallet is activated. These scams are becoming more common, but they can easily be avoided by only accepting wallets from trusted sources. 

Exchange Scams

Despite their decentralized nature, most cryptocurrencies are still bought and sold at exchanges. While this makes it easier to find the coins investors desire, there is still no regulatory body overseeing these exchanges in many countries. Thus, many investors have been left penniless when the exchanges they signed up for turn out to be traps. In December of 2020, several South Korean exchanges were exposed, leading to promises of stiffer regulations by the country’s authorities. 

These scams are not hard to spot but can be costly if not avoided. One of the biggest red flags is the promise of unrealistic prices. Exchanges that promise heavy discounts on bitcoin use this strategy to lure in unsuspecting victims.

Additionally, users can check exchanges’ URLs. Web addresses should always begin with HTTPS, a sign that traffic is encrypted. Visiting unsecured websites is a bad idea, but alert investors can avoid losing thousands by looking for the right signs.

Fake ICOs

One of the best results of the cryptocurrency boom has been the rise of the initial coin offering as a way for companies to raise capital. With thousands of new blockchain-based companies entering the market with unique ideas and exciting projects, users can now back their favorite businesses easily. However, this massive explosion of ICO opportunities has inevitably raised the specter of fraud.

There are several ways scammers can separate investors from their bitcoin. One popular method involves creating fake websites that resemble ICOs and instructing users to deposit coins into a compromised wallet. Other times, it’s the ICOs that are at fault.

Centra Tech, for example, a blockchain venture backed by several celebrities, has been sued in the US. The company stands accused of portraying fake team members, misleading investors, and lying about their products.   The best way to avoid these scams is close research that involves picking apart the white paper, reviewing the team behind the venture, key board members, and investors. Before making any investment, it’s vital to learn as much about the company as possible to avoid any unpleasant surprises.

Cloud Mining Schemes

Mining is the only way to extract new bitcoins without buying or exchanging them, but it has become an incredibly resource-intensive activity. Due to the unique way new coins are mined, it takes massive amounts of processing power and electricity, and thus money, to mine a coin. However, many companies now offer regular users the ability to rent some server space to mine coins for a set rate.

Some companies offer “lifetime contracts” that keep costs the same and supposedly offer outstanding returns. However, as the difficulty of mining increases, the same investment will return smaller amounts each time. Moreover, some companies make bold claims regarding their returns without being transparent about the true costs and diminishing returns. Others operate Ponzi schemes that can lead to massive losses. It’s vital to look into opportunities and understand the risks and costs associated with mining before investing.

Multilevel Marketing

Even in the digital spheres, many multilevel marketing schemes have emerged that offer naïve investors excellent “opportunities” for progressively larger sums of bitcoin. MLMs, as they’re known, are predicated on offering quick returns, but involve taking more money for the promise of even higher profits.

One major company that has been repeatedly outed is OneCoin, whose owners were implicated in several other shady operations. The company offered investors massive earnings, as well as luxury goods and perks for paying more. 

However, there is little information on the company outside of its site, and users have left scathing reviews online. It’s important to pay attention to a company’s fine print and ensure that their claims are feasible and real. Avoiding these scams early can protect investors’ wallets.

With the current craze, being vigilant and doing one’s due diligence are a must before investing in bitcoin. The market is also showing signs of maturity, leading to better transparency and clearer rules. Regardless, a smart investor’s first step should always be careful research to ensure their investments are winners.

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