What is Bitcoin Bank?
Well quite simply put, Bitcoin Bank is part of a family of websites which you can have a look at here:
Now incredibly, these websites are all operating the same product, and the real kicker? There isn't a product, they are all the same - pretending that they have an auto-trading robot that predicts the cryptocurrency market.
Why? To sign up US and Canadian citizens to illegal, offshore CFD/Options brokers who will then attempt to defraud you.
Why are there so many? Because they offer large fees for affiliates that can attract them new customers, and because they are unregulated, ANYTHING GOES!
In other words, these affiliates will pretend that you will make $10000 USD per day, risk free, in order to get your email address and phone number just for an affiliate fee. It sounds crazy, but we promise you that it is true.
OK, so you are still having difficulty believing that there are this many scammers operating the same scam, but just start looking at every one of these pages. The operated the same structure. Video first with an adjacent sign-up form. This is in case you are swayed by the video and sign-up immediately. The videos tend to consist of fast cars and beautiful girls or they show American finance news and cut out everything except people saying the word 'Bitcoin.'
Then they explain that their technology is incredible, how it was invented by the cleverest people in the world and how they now want to test it on a small group of people before releasing it to everyone in order to save the world.
Heck, they'll even get Elon Must to sell it for them, or at least pretend they have:
Do you see how crazy this is? They didn't even get a South African/American person to do the fake voiceover.
They will claim anything, from quantum computing that can see into the future and predict results, to NASA scientists that have discovered special code that predicts the stock market 99.4% of the time.
The number of videos they have produced is astonishing, as you can see from a few shown here:
So surely no one is ever going to fall for this though?
The problem is that repetition is just like that music they play on the radio. It doesn't matter how awful most of it is, what matters is how often you hear it. Sooner or later it becomes the norm and you start to consider what it might mean if it were true. You become acclimatised to the madness, and you fall into their trap. Advertisers have been doing it for years. It is quite simply hypnosis of a weary mind.
So what is the point of all this?
Well let's go through their website and see what their goals are:
OK so the first thing that we notice is that they wish you to act in haste. WARNING!! HURRY!! COUNTDOWN 03:03 which mean that they are after something from you that you can provide quickly. In this case it is your phone number they want, then they can try to get you to deposit lots of money to begin to trading.
They promise 'Exclusive offers for trades in...' whichever country you inhabit.
They also have a box in the top right corner that updates you with messages like 'Dan just made $563'
'Bitcoin is Making People Rich' it tells us in giant letters. 'You can become the next millionaire' and Change your life today!' All very encouraging, but then it is supposed to be.
They also show a lot of logos to feign association, but there is no proper reference accompanying these.
Then we see a phrase that is on almost every one of the Bitcoin XXXX websites:
"is a group reserved exclusively to people who jumped on the insane returns that Bitcoin offers and have quietly amassed a fortune in doing so. Our members enjoy retreats around the world every month while they make money on their laptop with just a few minutes of “work” every day."
and we can demonstrate this quite easily, using this link: https://www.google.com/search?q=%22is+a+group+reserved+exclusively+to+people+who+jumped+on+the+insane+returns+that+Bitcoin+offers+and+have+quietly+amassed+a+fortune+in+doing+so.+Our+members+enjoy+retreats+around+the+world+every+month+while+they+make+money+on+their+laptop+with+just+a+few+minutes+of+%E2%80%9Cwork%E2%80%9D+every+day.
Whereupon we see:
It just goes on and on.
We then come to another section which is repeated time and time again, the testimonials section.
Many of these names and photos are re-used across every bitcoin auto-trader site and in every language:
Some more of the regular claims:
- Laser accurate performance of 99.4% - so that is six wrong in a thousand.
- Superior technology - superior to what is unclear though
- Award winning app - this is definitely not true, the app is just another way to get your contact details. You certainly can't trade with it.
The 'how it works' section is a regular too, although it never answers the question. It always makes the same three step request:
- Register - now they have your details
- Fund your account - in other words, give us your money
- Finish - click the auto-trade button to have free money forever
One of the above steps seems unlikely...
Next the usual FAQ section which is always identical.
Minimum profits of thousands per day, no work, no cost, no risk, no maximum, it is not a scam!
OK, but then we get to an item of text known worldwide as the 'small print' where it reads:
REGULATION & HIGH RISK INVESTMENT WARNING: Trading Forex, CFDs and Cryptocurrencies is highly speculative, carries a level of risk and may not be suitable for all investors.
Oh dear, so it is an offshore CFD/options trading broker that is illegal in the US and Canada.
Same old story.
VERDICT: BITCOIN BANK IS A: SCAM !!!