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XCoins.io Review 2020 – Scam or Not?
Xcoins.io is a digital wallet in which you can lend out Bitcoins to buyers and buy bitcoin for yourself as well, not to mention you can also earn passive income with them through their affiliate program. If you go to their website, they claim that you only need to put Bitcoin into your wallet and just hit start, the system will do everything for you! Too good to be true? That’s why we’re here to help you get an idea on how they operate.
About the Company
The company has been operating since August 5, 2020, at Menlo Park, CA and founded by Sergey Nikitin. He has twenty years of Information Technology experience under his belt and holds a degree in BS Computer Science from the University of California, Santa Barbara (UCSB) and an MBA from UCLA. Right after graduating he was then recruited by Microsoft. He then started his own outsourcing business and moved up from there. Just like any crypto currency CEO’s, Sergey is really passionate about Bitcoins and he thinks that this is the future of monetary exchange. His main objective is to make Xcoins.io a one stop shop for crypto currency needs.
How to get verified with Xcoins.io
In order to get verified with Xcoins you first need to sign up with them by clicking the sign-up button located on the upper right corner of their homepage.
Just fill out the necessary information needed and you will be sent a confirmation code to the email you have used to register with them. Take the code provided and enter it in the space provided and follow the additional instructions.
After you have decided which password to go with, you will be redirected to the country page. Select your country and click continue. The list is quite long for the country selection -which is good as everyone can be part of this trading platform.
A two-factor authentication method would then be the next step of your registration process with them. On a personal note, this is quite awesome as some websites that offer two-factor authentication would leave this separate from your registration and you are left in an alien website for something that you may or may not find.
All you need to do is enter your mobile number to receive the 6 digit code for the authentication. Remember that you need to use your international country code before your mobile number. For example, if you’re from Australia then you need to type in +61 then your 10-digit mobile number (numbers may vary per country).
If you are not comfortable using 2FA via your mobile phone number then you can use Google Authenticator which can be more effective.
Trading with Xcoins.io
Right after you confirm the six digit code with them, you will then be redirected to the “Get Bitcoin” page in their website. You can, however, choose which tab you want to click at this point.
The minimum amount needed to purchase Bitcoin would be $10.00 and the maximum would be $1,000.00. This means that you are unable to purchase 1 BTC at the current exchange rate they have on their website which is $2,583.84 with one transaction.
One thing that sets this website apart from others our there today is the fact that they do accept credit card payments and PayPal, which is really convenient and risky at the same time.
Anyone can either be a lender or a borrower, you do not have to register as a lender specifically or the latter to make things work. When you are in need of Bitcoins, that would make you a borrower.
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The website matches your request with a lender that is willing to lend the X amount that you need along with their interest rates. There is no communication needed between the borrower and the lender since everything is done automatically. The payment is sent directly to the lender’s PayPal account and after the payment and processed, Bitcoin is then automatically transferred to the borrower’s account.
You will be given to options to go with if you want to be a lender.
The fees that you are going to pay would be more on the transactions that you would be conducting with them. The interest fee for a loan can be paid together with a loan security deposit. What’s great about this is that lenders can also decide their own interest rates. This means that when a borrower searches for a certain X number of Bitcoin, they will be given a few options from the system along with the interest fees.
If you are a lender in Xcoins.io, then you do not need to think about the fees, only the transaction fees that you need to pay your credit card or PayPal with when you transfer funds. The borrower shoulders everything from the interest fee of the person lending BTC, the loan origination fee (which is the Xcoins commission) and of course the PayPal processing fee of 2.9% + an additional of $0.30 on top of the loan amount with the interest included.
All lending transactions would need to go through PayPal. Payments from the borrowers to lenders plus interest fees would be directly sent to the connected PayPal account.
As of now the only available currencies to trade with would be US Dollars and Bitcoins. All transactions will be based on the trade of using USD to buy Bitcoins or selling Bitcoins in exchange for USD.
The trading fee is 0.00% – 0.10%.
The website interface is really straightforward and easy to navigate. You wouldn’t see any graphs or charts like any normal Bitcoin website would have today, something that I personally think is useful when it comes to websites like these. A big loss if you ask me.
This is what you see when you search Xcoins.io on your web browser. Once you have registered and logged in, you will then see this page below.
No graphs/charts whatsoever, too simple for my taste. Simplicity does have its price. Since everything you do is claimed to be “automated” all these things apparently happen at the back end.
When it comes to customer service, you will get a ticketing system in which you can submit any issues or concerns regarding your experience in using their services. Expected resolution per ticket is around 24hrs and they also promised to at least fix your problem within the next business day if this wasn’t addressed the first time.
Is this website worth something to invest at? There is a fair share of negative comments regarding their site, one of which is the pure simplicity of their website’s layout that I have pointed before. A thread was made regarding this issue on this forum that I found. Now the funny part is that positive reviews are also existent as they have a referral program. Sure, you want to write something good so that people would actually believe you on what you are saying and use your referral link.
Once you have signed up with their referral program, the system would generate a promo code in which you can give to your friends or share on your social media platforms to get a direct percentage of transactions made by your referred member. Yes, that means that you will get a percentage of each and every transaction they make as this is not just a one time offer. You can make money out of your referred member until the end of time!
You can earn money by being one of their affiliates through three different ways.
5% commission is calculated as a percentage of the loan origination fee. Commissions are also paid in the form of BTC and are directly transferred to the affiliate’s Xcoins wallet. Not bad if you want to earn passive income right? Actually, it is really easy to go around this system if they promise something like this. All you need to do is write something good about them, give them your referral link and hope that you can get a big spender into membership.
The website offers a 2-factor authentication model which is always good when it comes to website registrations. This means that you will be asked for your email and mobile number and go through a series of entering codes for your account to be activated. But as mentioned before, when it comes to being “secured” a decentralized system is still best when it comes to trading BTC.
This might be the reason why a member claims that he was hacked around 5 months ago and was totally shocked by what happened. But after posting the said hack being made, his account was restored and the lost BTC was returned to him. But still, they were hacked.
- Easy to get verified ( 2-factor authentication)
- Accepts Credit Card and PayPal
- 24 hr expected resolution through their help-desk
- Referral program
- Website is too plain (there are no charts and no transparency)
- A good number of negative reviews about how they operate
- Claims to be secured but keeps email, mobile number details
- Was hacked
Supported Payment Methods
- Credit Card
- Debit Card
- Wire Transfer
XCoins.io supports 167 countries worldwide.
XCoins Review Conclusion
I would really recommend reading more about this particular website. The web is filled with both positive and negative reviews about Xcoins.io and it made me think that you need to be careful in dealing with them, not just them in particular but the whole BTC market.
The mere fact that their website doesn’t even have the slightest transparency on what is going on gave me a bad impression on how they operate. If you still want to give them a test drive, then do not invest on what you cannot afford to lose.
I am currently in the process of filing a huge class action against this company-they are local if you call Los Angeles local, but they are in the USA, they are considered to be a “Money Moving Company”, and they have violated their charter-the suit will end up as an action of “class” and should permanently shutter this fraudulent company
Ahh theres patrick again, the only support guy trying to sell his scam. it is worth noting that Xcoins takes a healthy sum of profit, but shares absolutely none of the loss. The only one at risk here is you. They say they help with claims but they most certainly do not. You send that document they give you to paypal and you can kiss that account goodbye. and i mean goodbye. Paypal will instantly freeze the funds for 180 days(6 months) to allow all chargebacks filed in that time to clear, and you wont be allowed to challenge those, after that you are forced to withdraw and enjoy a lifetime ban from Paypal. The only winner here is Xcoins. They use wordplay to make it seem like you cant take a loss with them but this is not true. Remember folks. anyone promising profit is lying, there is no easy money in this world. And if it truly was the free money they pretend it is, then everyone would do that and nothing else.
I’ve been using Xcoins for a while the only problem I had with them is I accidentally sent bitcoin cash to my bitcoin wallet and they would never give me
My own private wallet keys to retrieve it.
There’s been no support for any forks so if you hold a lot of coins you’ve missed out. Other than that straight forward i stay above the 50% margin. Maybe if they hired me for the redesign and did some marketing it would really take off.
Not nearly enough info about fees, transaction limitations, transferring to/from your wallet. I knew a little more than the average American about BTC and a “friend” recommended this site. I have had nothing but problems. Once I determine it would cost over $100 in fees and take months to acquire $500 in BTC, I wanted out. So far they have taken my fees, have not provided any meaningful support about returning the BTC back to my lender and closing my wallet. They point to FAQs that are not accurate and they have essentially held my money hostage while the market has dropped almost 10% in 2 days, going on 3. NIGHTMARE, SCAM, STAY AWAY!
Chris, I am sorry to hear you did not have a pleasant experience lending on xCoins. With our 50% profit margin guarantee you should never loose any principle amount invested and at most half of your profit. It is not possible to make $0 lending on xCoins.
Our office is based in Santa Monica, California. We do assist our customers with any PayPal claims and even provide them with documents to send to PayPal. Please open a helpdesk support ticket and I will look into your account to see if you currently qualify for our guarantee.
i don’t know what some of you are writing here, i have been using xcoins since 2020 and never had problems with them, and their customer care replies in hours, its been good and safe for me so far..
I was a lender on Xcoins.io as well as my mom across the country. Participated for quite some time. Indeed the first month or so seems great. Until the chargebacks come rolling in. and i mean ROLLING. they offer the 50% guarantee. but at very best you make 0$ and they continue to profit without taking a bit of risk for themselves. They are based out of one guy’s house because he doesnt have to do anything. he makes money whether or not you do or if you get scammed. They will not assist with paypal claims, and paypal will often permanently close your account, after freezing it for 6 months first to allow all chargebacks to clear(thats fun!). You can certainly make money if you get in and get right back out(seems lucrative as your last act to purchase 1000usd in BTC and do a chargeback yourself. after all, nobody else cares. but thats wrong so dont do it). I would steer clear. There is no easy path to profit in BTC other than hard work and study. good luck guys happy trading
Just to clarify, we are xCoins.io. We are based in Santa Monica, United States. There is another company, Xcoins.com based in Bulgaria. We are not affiliated with them in any way.
I am not sure which reviews below are specifically about our company. I can assure you though that our support is very quick. We answer most inquiries on the same day.
They claim they are in the UK but they are actually in Bulgaria. they dont have any office in the UK. if they hide their location it might be a warnning light … beware.
Has anyone used the Coinsfast.com service? Seems exactly the same, but They say no fraud like xcoins
Hi David from support would you please send me your email Thank you
I’m a Lender using XCoins and now after 2 weeks and lent over $2,000 USD I have had NO issues.
I feel bad for this company due to the constant bad reviews from users that have never used XCoins and/or had issues as they have been great so far!
So far I have had no problem with the service. The ‘scam’ alerts are way overstated. Pretty much is just people who have had a bad experience with a new company that still growing. There is risk associated with the service and with in crypto currency in general but not everything is a scam. Right now I am averaging about $300 of profit a day with about $2000 lending volume. There are slow days but so far so good!
A lot of negative reviews on here. I have been a lender on XCOiNS for almost a month now and had no issues. Dealt with a few refunds and had to refund bitcoin after individuals were not approved other then that it has been smooth. I adjusted PayPal lending to level 3 it seems to help with smoother lending. Usually everything is leant within 24-48 hours which is great. Only thing I’m concerned about is if I lend higher volumes will it ban my PayPal account.
Crypto Grind LTD
I have just started using this website and since now I didn’t have any issue lending my bitcoins.. My main concern is that they suck your bitcoins and they give you back an amount of money worth your Bitcoins plus the interests the lenders pays using Paypal. I don’t think this is a good way, I don’t want to loose my Bitcoins, they should find a way to give you back your Bitcoins plus paying the interests un Paypal. ..
My name is Patrick Maher and I am the Director of support here at xCoins. I noticed a lot you posted the same or similar reviews on 99bitcoins website. I replied to a lot of those comments but if you have any questions or concerns feel free to email me.
Do not use xcoins unless you want to lose your money
Do not use this service !! I lost over $300 in BTC and I am no newbie at trading, NO CUSTOMER SERVICE, they do not take responsibility for their website and the millions of things that can and do go wrong in the world of crypto currency trading world. They do not return emails, phone calls or smoke signals, BOOOOOOOO
Just correcting a typo from previous comment: They charged me 76% fee! I could only withdraw 24%. What a scam.
Awful. Scam! I bought Bitcoins there and when I tried to withdraw them they charged me 24%! Yes, 24%! I could only withdraw 74% of my money! When I complained they emailed me with sarcasm saying it was the ‘miners fee’. Please, be wise and use something else.
SCAM. Hello all, this a WARNING to newbies like myself that needs more bitcoin fast and you already surpassed your weekly coinbase limit… DO NOT USE Xcoins.io they wait until your payment clears then lock you out of the system and keep your bitcoin from the seller. FYI I did IT Security for AT&T call center employees over 10 years.
Businesses in America have an obligation to give customers a good experience. If they don’t, then I do guarantee they will be eliminated. Do complain to the FBI. !! They will immediately investigate. List there business on their website and alert all banks and fiduciaries before they take position on no knock raid. Be aware FBI and American courts know no territorial bounds . Good reviews ….
Firstly I would like to say that customer service is virtually non existent.
If you face a problem, get ready for minimum 4 weeks of waiting.
I decided to send some bitcoins there to make a profit.
Some guy sent me a money on my paypal, xCoins messaged me it’s safe to send him
bitcoins he paid for. Then guy reversed the transaction. Paypal would not do anything about it even though I had person picture and ID!
xCoins have a policy that if you loose more than certain amount, they will give you your money back..
It’s rubbish, I was within that policy guidelines and they refused to recompensate me anything.
Friend of mine got 2 paypal disputes out of 3 transactions from which he won 1 and lost 1 !
Overall don’t use unless you like to be scammed. Not only that but due to disputes, you may get
in trouble with PayPal resulting in your account may get restricted.
BTConline.io is a self proclaimed industry leading Bitcoin mining pool which is backed up by physical miners equipped with latest algorithms to make as much bitcoins as possible. This firm claims to have data centers across Europe, USA and China.
This service is pretty elegant and simple which is one of the main reason why thousands have fallen prey to this scam.
While we were investigating this service, we found a number of disturbing factors and some fake claims which makes us believe that this platform is nothing but a glorified ponzi scheme. This firm is operational for more than 3 months as of writing this review.
Continue reading our comprehensive and unbiased review to find out why you should never give your money to these scammers.
Company and Contact Details
There is no information about the creators behind this platform. Though we went through all the information put up on this website, there isn’t a single factor which helps to trace the identity of the actual creators.
If this platform was really legitimate why would creators maintain anonymity?
Any firm which provides the retail investors with investment opportunities have to be regulated in order to operate lawfully.
Btconline.io represents an ICO wherein money is raised from investors to purchase more efficient machines and for periodic maintenance of the mining farms, the investors are entitled to certain amount of money after predetermined time period.
Since this company fails to provide any sort of registration or incorporation details, we believe they are operating illegally and in certain way just looting the clients money.
Here are the contact details provided of this firm.
Address – 2009 Pine Tree Lane
The only way to reach the support team is through email, remember their support team is painfully slow to address your needs.
How does Btconline.io Work?
This firm supposedly provides crypto enthusiasts who does not know much about the technicalities and difficulties involved with mining a way to earn bitcoin. They claim to have mining farms set up in Europe, US and China but there isn’t any credible proof to support their ownership.
The mining equipments they use and their current capabilities in terms of hash rate is not stated anywhere on their website. Looking at this whole platform, it is pretty obvious that they target people who does not know much about the bitcoin and encash their gullibility.
If you are an experienced crypto investor then you can easily detect all the lies on this platform.
What kind of returns can you expect to make with Btconline.io?
The type of returns you are supposed to get depends upon the type of contract you choose, your initial investment and the time period but nonetheless the returns are over exaggerated.
Here are the details about the mining contracts offered by this platform.
Deposit – 0.01 BTC
Earning – 0.0004 BTC per day
Aff. Commission – 12%
Deposit – 0.9 BTC
Earning – 0.08 BTC per day
Aff. Commission – 40%
|Best Crypto Exchange|
|Best Brokerage and Auto Trading Robot|
|Recover Money from Scams|
Deposit – 0.5 BTC
Earning – 0.03 BTC per day
Aff. Commission – 20%
Deposit – 0.20 BTC
Earning – 0.016 BTC per day
Aff. Commission – 17%
Deposit – 0.05 BTC
Earning – 0.0025 BTC per day
Aff. Commission – 15%
Testimonies are a kind of social prove which instills trust and confidence among investors. There are a number of testimonies put up on this website wherein the alleged early users express their views about this firm and how it helped them earn significant returns on their investment.
Do not believe any of them as they are not from real users, they are all from fake profiles with a stock photo.
As you can see from the image above this person claims to have earned 155 BTC in 3 months. It is impossible to achieve these type of returns in such a short while. Ask yourself why would they put up fake testimonies unless they are trying to hide something from us?
To lure maximum people on to their platform in the shortest period possible they encourage the existing users to refer more people to this service. The affiliates promoting this scam are paid up to 40% of the deposits made by their referrals which is why many blogs and HYIP monitors are promoting this phony platform.
It is not mandatory for the affiliates to be an active investor to collect their commissions.
Deposit and Withdrawal
The only payment method supported by this platform is Bitcoin. Before you buy any plans from this platform remember that Bitcoin transactions are hard to trace which is why scammers love this currency.
They state that the withdrawals are processed instantly but sometimes can take manual approval from their side.
According to whois.com this domain was registered on 04/4/2020 and expires exactly after a year.
This website ranks 3,743 in Brazil and has a global rank of 22,980 according to the data on alexa.com.
The majority of the traffic coming to this website are from Brazil, Philippines, Indonesia, Bangladesh and India.
There have been heaps of complaints against this service on popular forums like Beermoneyforum.com. Hear what the real users are saying about this platform:
Really? I kind of had a feeling about that like “I bet when you hit that withdraw button, they’re going to require an upgrade”. Also they require a min of 0.006 btc to withdraw. That’s currently $38.00. Something not right there and somehow I don’t believe all these people are buying their upgrades like they claim. I also call bs on their reviews.
Is Btconline.io a Scam?
The returns offered by this service are all fake. Do not be gullible enough to trust any of their outrageous claims which are not backed up by any sort of credible proof.
Looking at this service and considering all the points discussed above, we strongly believe that they are not at all involved in actual mining activities.
Is Bitcoin a Good Investment and How Is It Valued?
What’s all the hype around Bitcoin? Will it ever replace money and is it a good investment? Let’s take a quick look.
Unless you’ve been living under a rock for the past five years, you are probably more than aware of the phenomenon of Bitcoin. But what actually is it? And could it ever replace traditional currency as a means of exchange?
Here we take a quick look at Bitcoin and explore its potential future as either an alternative to currencies or as an investment vehicle or both.
But first a required set of disclaimers.
This article is not intended to provide investment advice. All readers should please conduct their own thorough research before investing in any cryptocurrency. This writer does not have an investment in any cryptocurrency.
Can Bitcoin be converted to cash?
It most certainly can. By using the right steps you can readily convert Bitcoin into regular fiat currency and transfer it to your bank account.
But this, in a way, defeats the object of cryptocurrencies. They were, after all, devised to one day compete or even replace traditional currencies.
It was hoped from their inception that they could be used as a means of exchange. You could, and can today, makes purchases for all your favorite things.
But, as you may have noticed, very few businesses, and individuals, currently accept Bitcoin for payments. For this reason, it is understandable that if you do have some Bitcoin in your “wallet” that you might want to consider converting it to cash – – especially if it has appreciated against the dollar.
Of course, the opposite is also true. You may want to cut your losses after a “crash” in the relative exchange value of it and wait for a recovery.
Currently, there are several ways you can do this.
1. Sell on a crypto-exchange – You can use platforms like Coinbase or Kraken. This is one of the simplest and safest ways of doing this. Once sold you can then draw down to your bank account with ease.
2. Make use of a Bitcoin ATM – At present there are an estimated 2,200 Bitcoin ATMs around the world. If you have one near you, this is another simple way of converting your crypto to cool hard cash.
3. Get yourself a Bitcoin debit card – There are some websites out there that let you sell your Bitcoin to them to credit a prepaid debit card.
4. Sell your Bitcoins to your friends or family – If you have like-minded friends and family who also have Bitcoin, you can directly sell yours to them for fiat currency. You will, of course, need to have a high level of trust between you for this kind of private exchange.
How does Bitcoin make money?
With all the news of Bitcoin’s gains and losses, you might be wondering if it is a viable investment vehicle to make some cash. But Bitcoin is not really intended for this purpose.
As we have already explained, Bitcoin and other cryptocurrencies, are actually meant to, one day, supplant fiat currency as a means of exchange for goods and services. The difference is that it should, in theory, make transactions incredibly secure and free of potential fraudulent activity.
But with regard to making money from it, you most certainly can. In fact, if you’d “invested” in Bitcoin from its early days you might well have become a millionaire today.
If you are savvy enough to buy low and sell high then you could, in theory, make a nice amount of cash as a consequence. But a word of warning, due to the high variability of cryptocurrency you can quite easily lose money too.
Its relative value against currencies is driven, like more traditional stocks, bonds, and other investment vehicles by its perceived value in exchange for something else. It is, in effect, an agreed amount between the buyer and seller.
Like any investment vehicle, you should not even begin to invest in something if you don’t really understand it or have a plan. While becoming a crypto expert is probably a bit OTT, you should garner a thorough understanding of what you are getting in to.
“You need to understand how it works as an investment, how liquid it is (ie, can you get out when you want to), the level of risk and what can drive the price up to and down.” – Martin Lewis of the Money Saving Expert.
If you want to speculate on the price of Bitcoin in the future, you should also be aware that this is actually a form of gambling. Especially if you don’t know what you are doing.
You should also be made aware that Bitcoin exchanges often have fees associated with them and mining bitcoin attracts overheads from electrical consumption.
The same is true for more traditional FOREX (Foreign Exchange). This can be the ruin of many a want-to-be investor the world over.
But that is not to say you can’t make a lot of money doing it. So long as you are aux fait with what drives changes (geopolitics etc) in relative values of currencies (and cryptocurrencies) you might want to risk a small amount of your actual cash.
But, ultimately, make sure you only invest, or risk, as much money as you can afford to lose. After all, history is filled with similar economic bubbles – – “tulip fever” anyone?
Is Bitcoin a good investment?
As nobody can actually see the future this is not an easy question to answer. In hindsight, if you’d invested early then yes Bitcoin has been a good investment, but what about the future?
Whether or not Bitcoin will continue to rise over time is anyone’s guess. There are many experts on both sides of the argument who will make well researched and constructed arguments to support their claims.
But, at the end of the day, none of them are able to actually see into the future. Anything can, and usually does happen.
When it comes to investing in anything, the golden rules of the game are to do your due diligence on the potential investment at hand. You must also develop an entry and exit strategy for your investment.
But something that does go in Bitcoin’s favor is the fact that it is a limited resource by design. With a total pot of 21,000,000 tokens built into the system, it should mean that it at least holds its value over the long run.
The main problem with traditional currencies is that central banks can, and usually will, create (print) more of them over time. This is the main driver for inflation and currency’s erosion in buying power over time.
With there being a cap on the total of Bitcoins that will ever be “mined”, their relative value against a constantly devaluing fiat currency should be a safe bet.
However, as economists like Carl Menger and Eugen von Boehm-Bawrk believed, the value of anything in this world is subjective. If nobody wants something, it doesn’t have any real tangible value to them – – they’d rather keep their cash in their pocket.
If someone values, or perceives the value of, their dollar or pound over something as ethereal as Bitcoin they won’t make an exchange. It is for this reason that many people have not signed up for Bitcoins, or other cryptocurrencies for that matter.
They simply either don’t understand it or would rather put their trust, rightly or wrongly, in more traditional backed currencies by institutions like banks and governments.
Is Bitcoin money?
If by “money” you mean fiat currency like pounds or dollars, then no it is not. Bitcoin was designed from the outset to be an alternative and replacement for, not another example of, fiat currency.
But Bitcoin could be considered a form of “money” called commodity money. This form of “money” is one of the one’s oldest with gold being a prime example.
But it should be noted this is hotly debated. For this reason, the very term cryptocurrency has been widely adopted to differentiate things like Bitcoin from other means of exchange.
Bitcoin is, by definition, a decentralized digital means of exchange. It has no central bank or administrator as fiat currencies or what most people understand as “money” do.
Bitcoin and other cryptocurrencies are a peer-to-peer system that cuts out any “middle men.” Transactions between peers are made using a node of networks where all transactions are recorded on a distributed, or shared ledger.
While, as we have seen, they can be exchanged for regular fiat currencies, their intended purpose was to be exchanged for goods and services between peers on their own.
But, like anything in life, cryptocurrencies’ perceived value is just that, at least when compared to alternatives like currencies. It is unclear if they have tangible value in and of themselves like, say, a ton of raw material or gold.
At the end of the day, what will determine Bitcoin’s future are, to name but a few concerns: –
1. Peoples trust, adoption, and acceptance of it.
2. That its finite nature is maintained at 21 million Bitcoins and perceived value against a tangible good or service.
3. How the electrical cost of bitcoin will affect its future in an ever-increasing environmentally friendly conscious society.
Ultimately, we’ll let you decide what you think about the future of this most famous of cryptocurrencies.
Is Bitcoin Wealth a Scam? Know The Whole Truth About Bitcoin Trading Bot
Trading cryptocurrencies is big business. And where the money is, you can always expect to find scam artists lurking and waiting to pounce on unsuspecting investors.
The latest cryptocurrencies trading scam is bitcoin wealth. It’s being marketed as an automated binary options trading software that will make you thousands in profits per day.
Since its launch late September, there’s no doubt that it has received a lot of interest. But every wary trader is asking one question. Is bitcoin wealth a scam? This bitcoin wealth scam review will expose all the details that make this system one you should totally avoid.
Its “free” Very few options traders can overlook a free opportunity to make money. Bitcoin wealth is marketed as a free to join the system.
However, it comes at a price. You’ll be expected to deposit at least $250 with the broker you’re assigned to enjoy the benefits that come with this system. And that leads me to the next red flag Bitcoin wealth will only link to unregulated brokers.
This means that your money will be held by a business that might decide to disappear and have no one to answer to. When this scam is finally exposed and goes under, anyone who invested their cash will lose it.
Two brokers this software is linked with are ArgusFX and Pure Market. Trying to link the software to a regulated broker account will simply fail.
The claims made are unrealistic
The promo video makes a bold claim that you can earn a minimum of 0.3 bitcoins per day on autopilot. Calculating based on the current bitcoin value, that’s at least $1000 per day.
This claim is based on the software’s programming. According to its creator, it uses artificial intelligence algorithms which make it almost impossible to lose on a trade.
Regardless of how any options trading bot is programmed, the possibility of losing on trades is always there.
You cannot see how this software works
After dishing out several hundred dollars with an unregulated broker, you can expect to earn thousands of dollars per day on autopilot. Without knowing how this software does it.
While I wouldn’t mind making money this way, I don’t believe that the bitcoin wealth app is the way to do it. There’s too much risk involved and there’s no way of knowing whether any trades entered have ended ITM or OTM.
Fake owner and testimonials
The bitcoin wealth scam was purportedly created by Max Carney. After conducting some research, I found the same person being the creator of a similar cryptocurrency scam system called Crypto Wealth. Besides both systems’ creators having similar names, they’re quite similar in design.
The system’s marketing involves the use of video testimonials. None of them sound convincing. In fact, I suspect that these are paid actors reading off scripts meant to paint a rosy picture about this scam.
That’s not all. The earnings disclaimer used in the promo video explains that all messages are meant to demonstrate what the app can do. You won’t find a clip of the software actually placing trades or making any user some money.
There’s no doubt that bitcoin wealth is a scam. It’s designed to lure in unsuspecting traders by being packaged as a free to join the system. Once you’ve invested your money with one of their unregulated brokers, you will be expected to trust a bot whose working you cannot understand to make you thousands of dollars each day. There’s no doubt that there’s a lot of money to be made trading cryptocurrencies. However, it’s not worth it to invest your time or money with the bitcoin wealth scam.
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