Bitcoin trading is becoming more popular every day. With promises of high returns with little work, it may seem enticing. Beware, there are many scams still lurking out there among the genuine offers.
Today when surfing the web, I came across Bitcoin Profit, and straight away, I thought this is another one like Crypto Genius, Bitcoin Revolution or Bitcoin Trader. At first glance, it appears almost the same format as the others. A landing page with a video and registration, the usual testimonies, and a FAQ with how easy and awesome Bitcoin profit are.
At first glance, I thought Scam straightaway so let’s look and see what we can find to support my views. Let’s do a Bitcoin Profit Review and find out if it is legit or a scam.
What is Bitcoin Profit
Bitcoin Profit is an automated system that helps its users to make consistent profits trading cryptocurrencies. Bitcoin Profit is the same as the others.
- Register – Fill in the details on the page, and your account manager will contact you. When you give your details, your spot is reserved and an account registered at a broker for you.
- Deposit Funds – Make an initial deposit of at least 250 USD to fund your trading account.
- Set your account to auto trade and makeup to $10,000 a day.
Bitcoin Profit makes it all sound so easy to make $10,000 a day.
How does Bitcoin Profit Work?
I’ll tell you how it is supposed to work, and then I will give you my take on it.
You sign up & register a trading account, deposit funds and link the trading software to your account. You flick the auto-trade switch and makeup to $10,000 a day.
Now please consider this. WHY are they doing this for free? They have spent money on advertising, websites, software, and other expenses, so why have they done this for you for free? This is their reason for the FAQ on the website.
- What’s in it for us?
- At Bitcoin Profit, we are all investors in Bitcoin. Therefore, we know that the more people that join us, the bigger Bitcoin will grow.
OK, I will tell you what is really in it for them. Commission when they sign you up with a broker, they do not care if you profit or not they are just trying to get you to sign up, so they receive a commission from the broker. Now the brokers they use are not reputable and are NOT regulated.
- This is what is in the small print on the very bottom footer of their website.
- Please note that Bitcoin profit 1-S receives advertising fees for directing users to open an account with the brokers/advertisers and/or for driving traffic to the advertiser website.
- Bitcoin Profit does not operate as a financial services firm and is only used as a marketing tool by third party advertisers and brokers to receive more customers. When you signup to Bitcoin Profit a broker is automatically assigned to you. It is your obligation to check if the Broker applies to all local rules and regulations and is regulated in your jurisdiction and is allowed to receive customers from your location.
In reality, that is how it works. They make a commission for signing you up, that is all. They do not care if you make money or not. Researching online, I have found that they harass people as soon as they sign up multiple phone calls pushing them to sign up. This is not how a reputable company operates.
Can you Make Money with Bitcoin Profit?
You might make a little, or you might never see your money again, and there is nothing you can do because they are not a regulated broker. They had made their money when they signed you up. The broker has made money on the spreads from your trades, but you will NOT make up to $10,000 a day as claimed.
Making claims as they do about making these huge amounts of money is plain wrong. It is false advertising, you can make money like that from crypto, but I guarantee you will not make it with Bitcoin Profit. Everywhere I look online, there are fake testimonials and fake statements on Trustpilot. Don’t believe the BS people.
Just as an example, let’s look at their statement (above) from their website. The first sentence says the average daily ROI is up to 60%. So if you invested $1000 on the first day, you could make up to $600 profit – that is the average.
Conflicting Statements? Hmmm.
The very next sentence says – Most of our users report earning up twice their invested capital in the first 8 hours of trading.
So if I invested the same $1000 capital in this example, I would make $2000 profit in the first 8 hrs. That is a lot different from the 1st sentence that said 60% ROI that is 200% ROI, so which one is it? And then if I traded for 24hrs that would be 600% ROI.
So is it 60% ROI or 600% ROI for the first day? Then reread the last sentence – Most of our users earn a profit on the first day of trading with us. Hang on, most make a profit, but in the first sentence, most make 60% ROI, then 600%, then most make a profit? Confused as to how much you will make? I am.
Beware of …
Any programs like these.
They are just marketing scams to get you to sign up so they can make a commission from brokers. Crypto Genius, Bitcoin Revolution, Bitcoin Trader and Bitcoin Profit are ALL the same scams. The same people are probably behind them all. I found in my research of all these that there are many variations of all these sites, like affiliate sites that are adapted to different regions.
They tend to use local celebrities from your local region to appear like they endorse their product. All the affiliate sites have celebrity endorsements, but there is this statement below on the official site.
So as you can see, this is all just a marketing campaign to get you to signup to a broker, so someone gets paid a commission. That is all these sorts of programs are, DO NOT fall for the B.S.
The other common thing that I found on all the sites was a timer or a countdown of some sort. You know hurry due to high demand this offer will close soon, only 7 spots left.
The offer will not end in 1hr 7min 36sec. This is BS. There are not 37 Beta spots left. They are not shutting it due to high demand. This is marketing to get you to signup, that is all.
Is Bitcoin Profit legit (or Any Good)?
Sure they are a legit marketing operation, so they may be legit in that sense. They are definitely not legit in their claims of easy riches from their trading program. In fact, I would say they are very deceptive, and for this reason, I am calling Bitcoin Profit a Scam.
It is purely a marketing campaign to earn commission from brokers. Bitcoin Profit DO NOT care if you make money or not. Their only mission is to get you signed up and trading.
I personally trade crypto myself 100% tech analysis, and I personally place all my own trades and manage my own risk. I know what it takes to make money consistently in the market, and Bitcoin Profit is definitely not the way.
If you really want to make money trading crypto, you need to learn to do it yourself, NOT rely on someone else to do it for you. If you trust someone else to trade for you, I guarantee it will come at a cost. It is just a matter of how BIG that cost will be. It might cost a little, or it could cost you everything.
Learning to trade crypto is not hard. Placing the trades is not that hard. Setting up your charts is not hard. A good trading strategy can be easily learnt. Managing your risk is what most people do not do correctly, but that can also be learnt easily. The hardest part for a lot of people is controlling their emotions.
Especially after a few good wins or losses. The trading plan usually goes out the window. The emotions take over, and it will only be a matter of time before you lose your trading account. Trading Psychology is the most important factor in trading, full stop. Having the right trading psychology and the discipline to stick to your trading plan and manage your risk are the factors that will determine your success as a trader.
My number 1 Recommendation.
The fastest way to succeed as a crypto trader is to copy someone already successful. Find a good mentor and listen to what they say and do what they do. This will lead to success. This is where Craig Cobb from Trader Cobb comes in. Craig is a full-time successful crypto trader and has taught thousands of ordinary people how to trade crypto with success.
The Trader Cobb courses contain absolutely everything you need to be a successful trader. They don’t just sell you a strategy. They will teach you how to open accounts, set up your charts, manage your risk etc… they have it all covered and backed up with an awesome support team.
You can read my full review here ===> Trader Cobb Review – Is it worth your coin?
Don’t waste your time hoping someone else or some program will make you rich, take action today and invest in yourself. You can start the Trader Cobb course Today for Free. <=== Click the Link. You can start the Trader Cobb course for free, and if you like it, you can go on and purchase the “Become a Master” course.
Be the Best you can Be
! DISCLAIMER: I am not a financial advisor. This is not financial advice. The content and material I provide on 2dsirecrypto.com is my opinion only and general in nature. Always do your own research before investing any money. You should always understand the risks involved in trading and investing and seek advice from licensed professionals before undertaking any investments of your own.