Review Stay Away From Doubler Bitcoin! Scam

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Busting The Myth Of Bitcoin Doubler [Scam]

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Spoiler: Bitcoin doublers or Bitcoin multiples are scams !!

  • Do you want to know about Bitcoin doubler?
  • Do you want to know about Bitcoin multipliers?

Well, if you answer to any of these questions is Yes (!) then you must stick around and read the full article.

And I firmly believe that due to Bitcoin’s popularity you must have heard about Bitcoin doublers and Bitcoin multipliers many times in cryptosphere?

But have you wondered what they are?

Well, for starters let me tell you these are sophisticated scams on the name of Bitcoin and are far from the actual Bitcoin cryptocurrency which Satoshi Nakamoto invented.

That’s because Bitcoin has generated returns in 100s and 1000s of multiple for its early investors and riding on this popularity of Bitcoin many scammers have come up with their cunning Bitcoin investment plans on the name of Bitcoin doublers and Bitcoin multipliers.

Just look at the numbers of Bitcoin investment:

Year Price at the Start of Year Price at the end of Year Growth in %
2020 $0.0015 $0.31 20566%
2020 $0.31 $6.18 1893.5%
2020 $6.18 $13.44 117.5%
2020 $13.44 $751 5487.8%
2020 $285 $435.7 52.8%
2020 $435.7 $952.5 118.5%
2020 $952.5 $6000 (To date) 529%

So after looking at these stats, you can make out easily as for why scams on the name of Bitcoin are evolving.

But in any case, this needs to stop, and that’s why today at TheMoneyMongers, we want to discuss Bitcoin doublers and Bitcoin multipliers in details so that investors can make an informed decision before investing in such Bitcoin scams.

And first thing first:

Bitcoin itself is not a scam, but there are quite a few types of scam programmes surrounding Bitcoin, such as Bitcoin HYIP, Bitcoin Doubler, Bitcoin Multipliers, etc.

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So What Is a Bitcoin Doubler or Multiplier?

Bitcoin Doublers are services that promise to double up your initial Bitcoin investment by using that investment for trading purposes.

These services promise to give a return sometimes in 24-hours, a week or a month but whatever they say seems far from the truth for me atleast.

Because if you pause and think for a moment, is there anything as double your Bitcoin in 24 hours?

Well, there is no such thing in my opinion.

Moreover, giving up your Bitcoin to someone else to get a double amount is as stupid as it gets because this even goes against the ethos of Bitcoin, where you are supposed to keep your bitcoins in your control.

There is a service also named after ‘Bitcoin Doubler,’ but that’s far from perfect because many investors have lost their money in that scheme.

But in this article, I am not talking about any particular service, but I am talking about the concept of ‘BTC Doubler’ or ‘Bitcoin Multiplier’ as a whole.

Moreover, I will strongly recommend you to not fall for such reviews that lauds ‘doubling your bitcoins’:

But after reading such reviews also some people don’t get it and often ask, ‘how they can double their Bitcoin in a legit way’?

To such people, I would say, there is no such legit way to double up your Bitcoin. IF at all it was possible, wouldn’t the BTC doubler service provider use it for themselves?

That’s why these scammy programmes lure uninformed investors by vague working styles such as these (I have taken this from a Bitcoin Doubler service): is a fully automated Bitcoin doubler platform operating with no human intervention, aside from regular server maintenance conducted by our staff. Take full advantage of our fast and legit Bitcoin doubler platform. Our automated system gathers information from the blockchain transfers and cryptocurrency exchanges to study and predict the Bitcoin price, our servers open and close thousands of transactions per minute, analyzing the price difference and transaction fees, and use that information to double your Bitcoins.

This statement by a Bitcoin doubler service is as ambiguous as it gets because now, I am thinking how bad those investors would be who invest after reading such comments on a BTC doubler website.

Can You Make Money By Investing In Bitcoin Doublers?

Well, the answer is both Yes & No.

I will tell you why this is so? But before that read this review by an investor who has used a Bitcoin doubler:

Guys, most of these doublers are fake and they don’t even pay in the beginning when they should. They just take your money and that’s it. I’ve been burned multiple times now and one of the few projects that pay at the moment is quick2xbtc (even though it is yet another Ponzi) Invested 0.03 BTC January 26th, 2020. Surprisingly received 0.06 today. Not spamming anything, just sharing what worked for me.

I said Yes because you will find an occasional investor like above who has invested in a BTC doubler and have got positive results too.

But not all stories are the same.

Many on the other hand have lost money also.

That’s because these programmes are not sustainable and are like pyramid schemes where investors who invest early are paid with the money of investors who join the scheme later.

So, in my opinion, it is foolish to invest in such schemes where a business plan doesn’t make sense, and there is no regulation guarding the investor.

That’s why I think it would be apt for me to talk a little bit about how to spot such pyramid scam schemes which are running on the name of Bitcoin doublers and multipliers.

Scam Test: Common Traits To Notice In Such Scams

Does it promise regular returns that exceed average market returns?

Does it focus more on recruiting new people than any product?

It’s a pyramid scheme#litmustests

A quick litmus test that you can run to judge whether something is a scam or not is as follows:

  • If you see promises of absurd returns for a scheme like double, or ten times or a hundred times in a day or a week or a month, then you must stay away from such schemes.
  • If you find no mention of the team or background of the company, stay away from such schemes.
  • If you find the business plan of such schemes making no sense to you and if there is no mechanism in place to ask the right questions, you should stay away from such schemes too.
  • Lastly, if you find a scheme preaching that there is a high chance of winning a Bitcoin doubler bet (as high as 50% or 70%), then you must back off because indirectly they are trying to tell you that there is 30-50% chance that you will not even get you initial return back.


If you run through the workings of different Bitcoin doublers, you will find that they all pretty much follow the same pattern and often vaguely describing their approach.

Moreover, you will often find that the domain is newly registered and there are no credible citations on the website as for who is behind it.

And I think these are enough signals for anyone to understand that this is a scam.

Lastly, not even one service has proven to be legitimate in doubling up anyone’s bitcoins that’s why investors should be very cautious and thoughtful about their investment decisions.

So that’s all from our side in this Bitcoin doubler myth buster, and we hope this helps you in making better decisions. And If you liked this article? Do share it with your friends and family on Twitter.

Is Bitcoin Doubler Legit? Review 2020

If you are looking into ways to multiply your crypto assets, you might be interested to learn about bitcoin doubler platforms. Are these web sites legitimate? Let’s find out!

What is a Bitcoin Doubler?

Bitcoin Doubler is aimed at people who are looking for an easy way to double their investments on cryptocurrencies. It is an investment program which increases the value of deposits up to two times. Supposedly, you can earn returns of up to 100 times of your investment.

Doubler claims to have “100% uptime with zero chance for a transaction to fail” and it requires “no human intervention, aside from regular server maintenance.”

Obviously, we’ve seen hundreds of BTC scams appear online. Many of them claim to double your coins or offer enormous ROIs. In reality, these are typically pyramid schemes, Ponzi schemes, or multilevel marketing scams that will take your initial deposit, then refuse to let you withdraw your money.

Back to the innovative gathering behind the Bitcoin Doubler program, they probably comprehended a weakness in the blockchain that empowers them to incorporate new positions. They then ‘twofold spend’ all the BTC kept by customers and copy them by up to 1000% (one thousand) of the main stores. They by then keep some to take care of working expenses and as an advantage and use whatever remains of repaying their money-related authorities in hundred cover – that is, their store expanded by 100.

How Does the Bitcoin Doubler Program Work?

The first step involves sending some BTC to the site’s address as provided. No account registration is required (red flag!) and presumably, no personal details are needed. After sending the money, a unique transaction ID is generated and serves as proof of deposit. The next step is to wait for 24 hours for your returns to be transferred to your wallet.

That’s right: you just send your money to a mysterious, anonymous, BTC address, that money will magically double, and the trader is nice enough to send twice your deposit amount back to you.

Bitcoin Doubler claims to work using the following key features:

  • 200% investment returns with a “10-hour investment plan”
  • Automatic payments
  • 0.02 BTC minimum investment, 10 BTC maximum investment
  • Easy to use interface for both new and experienced investors
  • SSL security and DDoS protection (virtually every website has this)
  • “100% uptime with zero chance for a transaction to fail”

Ultimately, once you get past the ridiculous marketing hype, you’ll learn that Bitcoin Doubler claims to have some type of “high frequently investment platform”. The platform is capable of rapidly making trades. Through some magical process with automated software that generates money out of thin air.

Depending on how much you wish to invest or what your investment potential is, this amount could be too big for you. But one thing that you should realize is that if the program doesn’t double your assets, you will lose your investment.

Another important thing to know about Bitcoin Doubler is that once you put your crypto in your trading account, you will have no way to recover them. You will have to make investments, regardless of what the outcome is.

Bitcoin Doubler: Legit or Not?

When taking a look at how Bitcoin Doubler actually works, there is only vague information available. The strategies, techniques, and insights have not been shared by these so-called experts. The claim on 200% returns within 10 hours is also absurd. This is basically a trick the scammers are using to convince investors and make them sign up for this scam program.

All we know is that the site was made by a gathering of ‘programming architects, middle people and budgetary authorities’ who are fiery about cryptocurrency. No more information is given and as it might be, we don’t have the foggiest thought regarding the names or the attributes of those people.

Scam Variations

If it is a scam, you can expert several possible scenarios:

  • The Bitcoin Doubler Expert Scam

In this variation of the scam, someone will likely email you and claim to be some sort of “Bitcoin Doubler Expert” who will attempt to convince you that he can hack the network to double your assets instantly. All you will have to do is pay the person a fee for his efforts to develop the script.

Do not fall for this. No one can hack the Bitcoin Network to double your coins for you. Cryptocurrency isn’t something that can be “hacked”. The only way for you to lose your BTC is if you give it away. So anyone claiming to “double your coins” by hacking the network, is essentially trying to say that he is going to hack someone else’s digital coins and give it to you. That is not possible.

  • The “Double Your Bitcoin Instantly” Betting Scam

These websites will claim that you can double your BTC if you place a “bet” with your BTC. Most of these websites claim that your chance of “doubling” your assets is more than 50%. The website will ask you to place your bet by sending your coins to their Bitcoin Wallet address. Once you send them your assets, it will be gone for good.

They have a good answer if you ever try to contact them. Since it is technically a “bet”, they can simply claim you lost the bet – and the victim is likely to believe them. You will also notice that a new Bitcoin Wallet address is generated each time you visit the website – this is a huge red flag! It allows them to cover up their previous victims.

  • The Bitcoin Doubler MLM Scam

This particular variation of the scam can be particularly insidious. The victim may actually be coerced into falling for this scam by his/her own friends or family – who are most likely victims of the scam too. It’s pretty much the same model as a Multi-Level-Marketing model (aka pyramid scheme). The scammers convince people to go out to their friends & family and trick them into sending them BTC as well.

Here are a few more red flags that you should pay attention to:

  • Unbelievably high returns

Returns of up to 100 times the original investment in a single day can only be achieved in corrupt and illegal dealings and even those have some risks.

  • Owners of the platform

Who are the people who created this website? Are there any names or the faces of those people? If you can’t even tell how many they are and their job descriptions and not really sure that they even exist, then you should have doubts if this is a safe place for your coins.

  • How old is the website?

I would recommend the age of 6 months and above for websites requiring you to send money.

  • Credible links to the website

If you cannot find any credible site linking to Bitcoin Doubler, it says a lot about the site.

  • Alexarank

Check the global ranking of the website on

Please notice! Use bitcoin doubler sites at your own risk! Doubling cryptocurrency can lead to legal consequences as well as losing your cryptocurrency.


Cryptalker staff does not recommend or endorse any specific websites, this article is a result of our independent investigation. Use any of these websites at your own risk!

  • Minimum Investment Amount 01 BTC
  • Maximum Investment Amount 9999 BTC
  • Double Your Bitcoins in 3 HOURS
  • Type: Online
  • Fee: none

You just need to provide your email and your payout address, and then just click on double my Bitcoin button. Then one popup will show with our Bitcoin address. You will get a mail regarding all contract from Double Bitcoin in 3 Hours System, this is system generated mail so please also check your Spam/Junk Folder. Now you just need to transfer your desired investment amount on our address and wait for blockchain confirmation. Once it will confirm 3 times via blockchain, you will notify via a mail with your login details. Now you can track your investment with your login credentials on Double Bitcoin in 3 Hours System. Once 3 hours is completed you will get double of your investment.

  • Minimum Investment Amount 001 BTC
  • Maximum Investment Amount None
  • Double Your Bitcoins in 6 HOURS
  • Type: Online
  • Fee: Unknown

The automated system of DoubleBTC gathers information from the blockchain transfers and cryptocurrency exchanges to study and predict the BTC price, analyzing the price difference and transaction fees, and use that information to generate profit.

It usually takes around 6 hours, starting to count from the moment of your deposit (after 2 confirmations from the network) to double your coins.

There is a 0.001 BTC minimum and No maximum limit for investments on DoubleBTC.

  • Minimum Investment Amount 001 BTC
  • Maximum Investment Amount Unknown
  • Double Your Bitcoins in Unknown
  • Type: Online
  • Fee: None

At DoubleBitcoin you don’t have to make contracts or pledge your property. There are no lenders and no debtors. Everything is really simple: one participant asks for help — another one helps. All profits are generated by new investments.

In order to start, choose the amount to double and provide your personal wallet to receive earned profit. Deposit any amount (min 0.001 BTC) to the unique generated deposit address. Do Not close deposit window and wait for 3 confirmations, then start receiving profit with no further effort.

The payout is fully automated and instant and usually takes around 1 to 60 seconds but no longer than 15 minutes.

  • Minimum Investment Amount 01 BTC
  • Maximum Investment Amount 75 BTC
  • Double Your Bitcoins in 48 hours
  • Type: Online
  • Fee: None

Double Bitcoin in 48 Hours is an automated Doubler System using automated trading bots, these automated trading bots trading buy/sell automated on different exchanges to make huge profits. At a single minute, these bots are execute something around 150 times, this will make a lot of profit and, as a result, we’ll double your investment within 48 hours. Once 48 hours will complete you will receive your double payout on your provided payout wallet address. You can Track all Your Investment information via Login panel on Double Bitcoin in 48 Hours System.

  • Minimum Investment Amount 0025 BTC
  • Maximum Investment Amount 5 BTC
  • Double Your Bitcoins in 100 hours
  • Type: Online
  • Fee: None is an investment platform that allows users to earn interest on their cryptocurrencies without any effort or human participation.

Choose the amount to double and provide your personal wallet to receive earned profit. Deposit any amount (min 0.0025 BTC \ max 14.5 BTC) to the unique generated deposit address. Wait for the deposit to show up on the homepage when it receives 3 confirmation and starts receiving profit every hour – 100 hours.

You don’t need to do anything to withdraw profit, when your investment will end you will get your double coins automatically in your crypto wallet.


  • Minimum Investment Amount None
  • Maximum Investment Amount None
  • Double Your Bitcoins in Unknown
  • Type: Offline
  • Fee: $159

The payment for MMM Script is a one-time fee without any additional charges. After purchasing you may use the library forever with no further restrictions. All you need to do is to download and install the script.

The script now supports Bitcoin, Litecoin and Dogecoin. Access all of them from one unified interface. As an admin, you can setup in which cryptocurrency you want to run doubler.

Using the cryptocurrency doubler script you can setup withdrawals/payouts as either Manual or Instant. If the instant payout feature is enabled, all the transactions received are automatically exchanged to the wallet.


As you can see, there are multiple websites that can help you double your crypto. However, most of them disappear pretty quickly (e.g. Coinbooster website is not available anymore). And there are even more available on the darknet.

BTC is of limited supply, and the bitcoin blockchain is one of the highest standards of security achieved thus far. One can’t just simply create new coins through sheer will of doubling their stack. If you don’t want to risk losing your assets, then you are better off without the Bitcoin Doubler.

Doubler — обзор и отзывы о (HYIP SCAM)

Уникальный криптовалютный хайп проект — биткоин-удвоитель с единственным инвестпланом 200% за 100 часов и автоматическими выплатами прямо на ваш биткоин-кошелек

Doubler — основная информация

  • Период работы: 24.01.20 — 29.02.20
  • Официальный сайт:
  • Доходность: 200% за 100 часов
  • Оптимальный инвестиционный план: 200% за 100 часов
  • Депозит: включен
  • Тип выплат: АВТОМАТ
  • Платежные системы: Bitcoin
  • Мин. депозит: 0.001 BTC
    Мин. вывод: 0.001 BTC
  • Комиссии за вывод средств: нет
  • Мультирегистрации: запрещены
  • Кол-во активных депозитов на одного инвестора: неограничено
  • Публичная статистика: да
  • Связь с администрацией: электронная почта, телеграм
  • Технические характеристики: домен —, LLC, 2020-01-04 — 2021-11-20, хостинг — Cloudflare, Inc (США), SSL-сертификат — CloudFlare Inc ECC CA-2 CloudFlare, valid: 22 Jan 2020 — 09 Oct 2020, DDOS-защита — Cloudflare, скрипт — самописный, дизайн — шаблонный
  • Статусы на агрегаторах: ISP | AHS | HL
  • Рабочие языки проекта: английский
  • Реферальная (партнерская) программа: 3 уровня (5% — 3% — 1%)
  • Бонус (рефбэк) от 5% от суммы вклада
  • Статус: СКАМ (НЕ ПЛАТИТ)

Инвестиционные планы

Doubler предлагает инвесторам всего 1 инвестплан — 200% за 100 часов.

  • мин. вклад — 0.001 BTC
  • «тело» депозита — включено прибыль
  • выплата прибыли — разово в конце срока инвестирования
  • ROI (чистый доход от инвестирования): 200% за 100 часов (где 100% — ваша чистая прибыль всего за 4 дня!

К примеру, вы инвестировали в Doubler 0,02 BTC. Ровно через 100 часов вы получите на свой биткон-кошелек уже 0,04 BTC. А при условии инвестирования в проект по нашей партнерской ссылке — еще на 5% больше!

Умопомрачительный результат! И при том — вполне рабочий!

Регистрация в проекте, ввод и вывод средств

  1. Регистрация в проекте
    Зайти на главную страницу сайта —, в поле «Enter your payout address» указать свой биткоин-адрес, на который вы желаете получить прибыль от инвестирования, и нажать кнопку «Start 100 hours». Все! Вы — зарегистрированный участник проекта! Не нужно указывать логин, создавать пароль и так далее. Платформа полностью автоматизирована. Так что ваш уникальный биткоин-адрес — это и логин, и пароль, и ваши платежные реквизиты в одном «флаконе».
  2. Внесение депозита
    В своем личном кабинете на сайте проекта вы найдете биткоин-адрес проекта, куда нужно перевести сумму желаемого депозита. Также для вашего удобства там имеется QR-код с этим адресом, чтобы не вводить его вручную при совершении транзакции. После 3-х подтверждений в блокчейне ваш депозит уже активен!
  3. Вывод средств
    Вывод средств в проекте полностью автоматический. Как только истекает 100 часов с момента внесения вами депозита, «тело» депозита и вся полученная прибыль отправляются системой одним платежом прямо на ваш биткоин-кошелек АВТОМАТИЧЕСКИ. Так что никаких дополнительных действий со стороны инвестора не требуется!

Реферальная программа (RCB)

Если вы зарегистрировались в проекте по нашей партнерской ссылке, вам доступны следующие ставки рефбека в проекте:

  • за ваш первый депозит в Doubler — 5% от суммы вклада;
  • за второй и все последующие вклады — 5% от суммы депозита.

Количество депозитов, как и количество рефбеков — неограничено!

Doubler — все преимущества и недостатки

  • уникальный маркетинг, предлагающий сверхприбыль в сверхкороткий период
  • демократичный порог входа
  • полностью автоматизированные выплаты
  • максимально полная открытая статистика, отображающая все депозиты и выводы в проекте в режиме реального времени (при чем как на сайте, так и в специальном телеграм-канале)
  • круглосуточная клиентская поддержка в формате 24/7
  • опытная администрация, которой такой маркетинг по плечу

Наш отзыв о Doubler

Наше мнение о Doubler. Уникальный в своем роде криптопроект. Доходность сверхвысокая, инвестпериод — сверхкороткий. При этом проект уже «намотал» несколько кругов и благополучно доказал свою работоспособность! При чем независимо от сумм вкладов! Что важнее вдвойне.

По технической части все сделано максимально просто и удобно. Чтобы инвестировать и получить свою прибыль от инвестора требуется минимум «телодвижений». Добавил свой биткоин-адрес, внес депозит и через 4 дня получил удвоенный вклад, при чем автоматом прямо на свой криптокошелек.

Такие проекты как Doubler встречаются крайне редко. Админ его известен тем, что знает и умеет, как работать с таким маркетингом. К сожалению, проекты из-под его «кисти» выходят также очень редко. Поэтому желающим испытать уже протестированную и проверенную инвесторским опытом криптоплатформу — рекомендуем поторопиться!

Don’t Invest in Bitcoin Code, Bitcoin Doubler or Bitcoin Trader – They Are All Scams

Those new to crypto and with money signs in their eyes can easily be taken in by scams, and there are many, thanks to the decentralized nature of bitcoin and the lack of knowledge surrounding it for beginners. Promises of easy and incredible gains thanks to the guidance of some shadowy “bitcoin expert” or auto trading software abound, and the wise old rule of thumb still applies: if it sounds too good to be true, it probably is. This article describes three of the most infamous crypto scam sites, all of which promise to automatically trade for the user.

Common Bitcoin Cons

The word “con-artist” is shorthand for “confidence artist.” The way cons work is to gain the confidence of the mark, or victim, and then the rest is easy. The same holds true in the crypto space, and cons are especially easy to pull off when the victim knows little to nothing about the subject at hand.

What follows are descriptions of some of the most common con operations in bitcoin, and information on how to spot and avoid them.

The Bitcoin Code

The so-called “Bitcoin Code” is a scam operation whose website is continually changing. Like many scams, the website offers a service which is said to predict market trends and automate trading for users guaranteeing ridiculous gains such as “$13,000 in exactly 24 hours.”

While some may marvel at how anybody in their right mind could fall for such an outrageous claim, people knowing nothing about bitcoin often allow their lack of knowledge to woo them into thinking such things just might be possible. They also tend to imagine needing an expert’s guidance to “buy in,” or that crypto is a centralized affair like stock market brokerage. Many are too afraid of missing out.

Confirmation that Bitcoin Code is a scam is easy with a little internet sleuthing. Not only does a reverse image search of Bitcoin Code creator “Steve Mckay’s” picture show it to be a fake, but even the so-called testimonial videos on the site are phoney. The images below show a man featured in the Bitcoin Code’s promo video, who turns out to be an actor from e-gig website Fiverr.

“Investor” in the Bitcoin Code. banjoman15 on Fiverr.

Even top Google search results still give the Bitcoin Code good reviews and maintain it is not a scam. It’s important to remember that being a top search result does not mean a piece of content is reliable.

The multi-website, actor-leveraging scam that is Bitcoin Code is reported to have duped many already. The links lead to various websites all said to be the “Bitcoin Code.” Sometimes just to error messages. Bitcoin Code maintains “you must invest any amount you desire of $250 or more.” Just don’t expect to ever see it again.

Just because it’s a top Google search result, doesn’t mean the info is reliable.

Bitcoin Doubler

“Bitcoin Doubler” is another scam model, featured on multiple websites. Like Bitcoin Code, doublers promise insane gains in short periods of time, preying on the naivety and financial desperation of victims.

Spelling and grammatical errors such as those found on this “bitcoin doubler” site are common red flags.

These sites typically ask the user to enter an email and a bitcoin address, followed by a deposit. They are then instructed to wait for their big returns to arrive within mere days or hours. The returns, of course, do not arrive, and the only thing doubled is the mark’s financial woes.

Bitcoin Trader

Rounding out the list of scams sites is another “autotrader” scheme called “Bitcoin Trader.” As is common with crypto cons, urgent messages about a lack of time left to invest or get in, misappropriated images and video of famous millionaire or billionaire investors speaking highly of bitcoin, and location-customized “news” of the latest individual to make a killing are all present.

Common elements of bitcoin scams include urgent “time’s running out” messages, location-specific announcements of fake people nearby making money, and misappropriated celebrity endorsements of bitcoin.

Another dead giveaway that this “Bitcoin Trader” site is a scam is that it shares the exact same promotional text as featured on the Bitcoin Code site. Both sites maintain that “Like any business, you need working capital to get started,” and request the same amount of $250 to begin.

So whether a suspicious site promises exclusive use of “time leap” technology that is “ahead of the markets by 0.01 seconds,” or binary trading advantages that can’t be beat, remember: if it sounds too amazing, it almost always is. recently posted their own warning about Bitcoin Trader, stating:

The claims are so dumb that anyone can identify that they are false.

Staying Safe

For those genuinely interested in crypto, it’s important to learn about bitcoin’s underlying mechanics and the basics of how it works — and to vet all potential trading platforms and other crypto websites for authenticity — before making even the slightest move toward investment or trading.

Bitcoin allows users and users alone to hold their own private keys so the funds are never in the hands of some obscure “Steve Mckay.” It’s electronic cash that untrustworthy third parties cannot touch, if used properly. As far as the code underpinning the bitcoin network itself, it’s open source and viewable by all, and doesn’t require any sort of investment to investigate.

Did you know about these scams already? What are some other common methods crypto scammers use? Let us know in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Images courtesy of Shutterstock, fair use.

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