A very common fraud
The story told above is just a reflection of what many users felt when they put their trust, and above all their money in the unscrupulous hands of a group of people who engage in scamming and stealing, and who cannot suffer the consequences of what they do.
Because cryptocurrency trading is so large and varied, more and more people are becoming interested in it and in being part of this large community that has managed to make money through it.
This constant interest is what drives certain applications to show themselves as allies that will help you make the progress you need so much. However, not all the sites out there are completely safe.
There are thousands of sites that are completely dedicated to scamming, so they end up taking the money of people who are unlucky and have come to request their services.
This type of fraud is becoming more and more common, firstly because there are so many people wanting to invest in cryptocurrencies, and those doing the scamming never suffer any legal consequences for it.
What is Bitcoin Bank? – Does it work or is it a con?
Bitcoin Bank is an application that allows you to enter into cryptocurrency trading and perform various transactions with cryptocurrencies. This software exists to supposedly help you to better manage this type of finance, and you will also be able to earn good extra money.
This software includes an automated robot-driven algorithm that makes real-time predictions about market behaviour, and this is where its appeal lies, as it seems you don’t need anything more than to rely on its automated system to make big profits, without worrying too much about being in front of a screen all day.
Artificial intelligence and robot trading
We know that behind this kind of programs there is a group of people who have developed certain technology so that an automated system can exist, but, it is not the experience in this trade that characterizes this algorithm, but the ability to make you lose your money.
Thanks to its artificial intelligence, the chances of you being able to hit a trade to increase the capital invested in Bitcoin Bank are completely nil, because after all, that is what it is all about.
The artificial intelligence developed by experts for the management of cryptocurrencies within Bitcoin Bank, will be responsible for taking each of the measures expected in each of the operations, so your money is in the hands of a program designed especially for you to lose it.
It should be noted that there are real apps that although they use artificial intelligence, they do not make any decisions for you, for example the eToro App.
Can I do a free trial with Bitcoin Bank?
These apps which are shown to be free, safe and simple to use, seem quite attractive to those users who do not have a clear idea of how to get started as a broker.
This is one of the main reasons why more people try their luck and rely on Bitcoin Bank to start „learning“. And yes, Bitcoin Bank often uses the word „free“, but this is only valid for creating your account.
Once you are registered, it is mandatory to deposit a minimum amount of $250 in order to actually see how live trading is done, this amount is imposed by the App, and although they insist that it is very little, for some people it represents a big expense.
To sum up the answer a bit, I have to say that you can’t do a free trial with them, as you have to deposit more than $250 to be able to even see a little bit of those trades that you are so longing to be able to do on your own.
The Bitcoin Bank Scam What’s it all about?
Like many other sites dedicated to stealing your money, Bitcoin Bank offers you wonderful services to get you started as a broker, regardless of your level of experience, or if you barely know what a cryptocurrency is.
It is your inexperience that undoubtedly attracts you to this type of application that promises to do whatever it takes to start generating more money for you, highlighting that even if you have no knowledge about it, you have the same chances of making money as other expert brokers. So, Bitcoin Bank takes your money and loses it on purpose, and by loses I mean they keep it.
What is the real opinion about Bitcoin Bank?
Surely when you enter the official site of Bitcoin Bank, you can see great achievements, 88% profit possibilities and an enviable reputation, that is, if you enter the website you can convince yourself that this broker really is effective and will make you millions.
But, if you leave this site (created by them), you can realise that this reputation that they have tried to sell you, differs greatly from the real opinion of many users who have known the Bitcoin Bank fraud up close.
Obviously you won’t find more reviews on their own site, so it is important that you turn to other means to find out what this app really does and how it manages to make so many people lose their money through its traps.
How to recognise a scam?
When you are new to this whole cryptocurrency thing, any information that can enrich your knowledge is welcome, however, you have to know how to differentiate if this information is real or if it is a fraud.
Although this is not easy to differentiate at first glance, there are some signs that show you that it could be a scam. So if a site is characterised by the following, you should probably run away from it:
- They have very few requirements to sign up, i.e. they’re not interested in information that doesn’t relate to your finances.
- They offer free help on the condition that they are the ones handling your money.
- They do not allow you to make transactions on your own, but will make decisions and transactions without your consent.
- There is a minimum amount set for you to initiate trades with them.
- You are not allowed to expand your knowledge, so they are not interested in teaching you anything else.
- If you don’t make your deposit you won’t have the opportunity to see how the market is run.
- You will inadvertently be authorising the app to trade even if you are not online, so it never knows what happens to your money.
Which App is safe? eToro
Many have come across information about all these Apps that are dedicated to fraud, so it seems there is not one that can really help you with your needs, but I come to tell you that there are, but there are not too many.
I recently had the opportunity to get to know eToro, an app that fits the common needs of everyone who wants to be part of digital trading. eToro is an automated system that helps you to improve as a broker and make accurate predictions.
It does not handle your money or your trades but serves as a main channel for you to learn how to make these trades on your own while learning more about cryptocurrencies.
Why invest with eToro?
- Because it is a site with an excellent reputation
- Real user reviews of eToro indicate that it is a safe and reliable site.
- With eToro you can learn how to become an expert trader.
- You control your money directly, without middlemen or robots making decisions for you.
- You have the ability to generate profits through cryptocurrencies.
You’ve probably already seen the word Bitcoin in many places, but you’re not quite sure what it’s all about. Your curiosity leads you to take your mobile phone and look for information about it, but maybe the terms and operations that are carried out there, become a bit confusing for you, and although you abandon the task of knowing in depth this trade at that moment, you are left with the idea of knowing more.
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