These characteristics, however, have not made it less susceptible to one of the greatest evils of any economy: fraud. Taking advantage of the fact that knowledge on this subject is limited for the most part, several people have sought to create programs designed to take advantage of this lack of knowledge and carry out massive fraud on all newcomers interested in this type of investment.
Legitimate investment and earning sites (such as eToro) are usually the most reliable way to get started in this world. But many people not wanting to invest time and be harassed by false information from the internet, prefer alternative methods, among them, the famous case of Bitcoin Fast Profit.
What is Bitcoin Fast Profit? Is it a con or legit?
Bitcoin Fast Profit is everything any inexperienced user in the trading market would want: a program designed to replace the broker with an automatic robot that has a 99.4% chance of prevention, when it comes to profit on the web.
This Robot claims to be able to multiply the invested money of any user, reaching a profit of 13,000 euros, in just 24 hours. To do this, the user must make a minimum investment and let the robot do everything.
The most surprising thing: the robot is 100% free of charge. Anyone who hears this possibility, feels called to perform at least a test run of the program, which ends up scamming. Bitcoin Fast Profit, is not a program, not an application; it is a construction of lies, created in order to maintain a continuous scam over time.
How does Bitcoin Fast Profit work? – The before, the now and the after
Bitcoin Fast Profit is not the first of its kind, nor will it be the last. This type of scam has been around for a while now, where its reputation has been hurting countless names, so they are constantly looking to change them. This scam is known as the „recycling scam“.
The recycling scam has some clear and concise characteristics:
- A specific name is chosen to initiate the scam. The scammer creates a whole context around it (history, functionality, web page, community, etc.)
- The scammer creates a whole context around it (history, functionality, website, community, etc.)
- The scam is launched on a massive scale, trapping thousands of users within its operation
- The scammer gets rich at the cost of losing the reputation of his creation. The only beneficiary is the
- The page loses all its followers and is discredited
- The content of the scam is recycled: names, some photos, comments and the web page are changed. A fake community is recreated and you start from scratch
In short, the scammer will be constantly making money, recycling over and over again the same content from previous reputable scam pages.
How the scam works in its entirety
This scam is primarily designed to trap inexperienced Bitcoin users, as it has become so popular, that few experienced Bitcoin users are at risk of falling for it. Those who are already familiar with this type of fraud prefer to work with sites like eToro: a secure, easy and quick to use site.
The scam starts with the placement of multiple advertising banners. These banners are commonly found on various pages where they quickly advertise the profits that can be made with this method. The funny thing is that these banners are usually named after another application: it should be remembered that this is a recycling scam, and it uses already created content to keep running.
Any person and user who clicks directly on Bitcoin Fast Profit banners (or any of its variants) will be directed to its central page. On this page, we will be transported to an ideal world, fictitiously shaped by winners of the application, who have become millionaires overnight.
The page has a lot of feedback from people who have won up to $13,000 in a single night, and certifications from various users in the form of content. Below, you’ll see image galleries with people traveling the world, luxury cars or the like.
You’ll even see a video in which a man talks about all the profits he made with Bitcoin Fast Profit and how his constant earnings have made him prosper. On top of that, you’ll see videos of celebrities talking positively about Bitcoin, and Bitcoin earning methods (interestingly, they never mention Bitcoin Fast Profit).
In itself, the page is a total front for a shady scam business.
And what is the evidence of the scam?
Once we have arrived at this page, this is where we can see the evidence of the scam. The page requires an initial deposit of 250 euros to put your application to work, and after it has been paid, it starts launching different reports where earnings are announced.
At first, everything seems to go perfectly, in fact, many users get excited when they can visually perceive their earnings. However, the next day, complications start to arise. In case a user wants to withdraw his winnings, it becomes practically impossible to check them.
The site begins to present errors in withdrawing the money, and the customer service tries to offer other solutions and packages so that they can make more investments. The truth is that they want the user to leave as much money as they can take, just before they stop responding, or simply delete the user’s account. In some cases, they blame the bank for the withdrawal, showing fake documents that the withdrawal was made but the bank does not process it.
The whole system is made, so that the scammer receives the 250 euro deposit (and any additional deposits) directly into his bank account, and the user is pushed aside and left completely without any profit.
How can I avoid these scams?
Legal methods, while effective, can do little to recover the money in your hands. Many countries do not have legislation in this regard, so the main solution to avoid losing money is simply to never carry out this type of transaction. The pages that have certain characteristics, are the ones that commonly perform this type of scams:
- They do not have data from legal brokers
- They do not have a reputation that goes according to what their pages claim to have
- They offer overnight profits of thousands of euros or dollars
- They do not have good online reviews
- Their redirects lead to sites with different names
- They require a deposit and carry everything in an automated fashion
The best idea when investing, is not to look for a miracle app, as it has been proven impossible to create one accurately. It is best to look for trusted and reputable platforms that are solid in the eyes of thousands of investors, with proven returns.
Investment sites like eToro offer users everything they need. It is certain that your profit will be stored and available for withdrawal when you want to cash it out.
The initial investment is whatever you want, and the platform takes care of giving you all the data available to be able to generate profits from this investment. eToro, being a reliable site that makes its profits from small commissions per transaction, seeks to make each user as profitable as possible, so it offers many options for those within its platform:
- Different types of investments, not focusing solely on Bitcoin (stocks, stock market, cryptocurrencies, etc.)
- Friendly community willing to help newcomers
- Strict system on users looking to take advantage of others
- Transparent data to study the growth of any investment
- Seriousness at the time of payment, no excuses or delays
- Courses of different types, from basic, to experienced users
eToro will look for each user to constantly repeat transactions and is aware that, for this, it is necessary for the user to perceive high profits in these methods. Therefore, eToro works symbiotically with each of its site members to achieve, together, an exponential profit.