Bitcoin System Review - is it a scam?
Currently seen here: https://dailymarketinsider.com/cm7/bitcoin-system-2/ and https://novasecureoffer.com/sys/index.php and https://bitcoinsystem.invest-club-en.com/new2/
Let's have a look at their website:
Well it is quit impressive with an animated background and lots of expensive looking cars and slender people galavanting around. It seems a bit too good to be true. And there is a reason for this.
Firstly they are saying that investing in Bitcoin but that would be extremely unwise at the moment as it has just dropped 40%. They go on to say that it is a beta test but that they received real money. Beta testing is when you send people out onto a system that is undergoing UAT or User Acceptance Testing. This means that the system has been bug tested by developers but is not ready for release, so you would never, never, ever connect such a system to real banking gateways, it might fire all of your money into an unknown account! This is our first big red flag!
Next they go on to say that you can make $550 USD per hour from Bitcoin. Now this is just plain stupid. Bitcoin is a cryptocurrency that goes up and down and even CFD options trading or spread-betting cannot guarantee a regular $550 USD income. You might make more, you might make less, but you will never get an hourly wage. This is our second big red flag!
Another bad sign is their claim that they have featured in Forbes, CNN and WSJ which is patently untrue. If this had been shown as real in those magazines, why would it still be in the testing phase? How would they have reviewed it? And of course you would have heard of it by now. No, there is no doubt about it, here is our third big red flag!
They they go on to explain that this guy is known as the $100M man and that he was a software developer and is now an investor, I think we've seen enough of this video - it is nonsense!
Now we read: The Bitcoin System is a group reserved exclusively to people who jumped on the insane returns that Bitcoin offers
This is exactly the same scammer nonsense on every one of these sites, word for word! This is the next big red flag!
Now there is another picture if the alleged Steve McKay who has a different stock photo every time.
Lastly, always read the small print first - they have updated their small print recently:
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. You may lose some or all of your invested capital, therefore you should not speculate with capital that you cannot afford to lose. Please click here to read a full risk warning. Bitcoin System is a technology, marketing and advertising service. Bitcoin System does not gain or lose profits based on your trading results and operates as a technology, marketing and advertising service. Bitcoin System is not a financial services firm and does not operate as a financial services firm and is only used as a marketing tool by third party advertisers and brokers to attract customers. Its your obligation to check and decide weather the broker you were connected to applies to all local rules and regulations and is regulated in your country jurisdiction and is allowed to receive customers from your location your are in, before you fund your account with the broker and start trading with it. please report Bitcoin System (because we can't be bothered to check) if you find that the broker assigned to you is not regulated in your jurisdiction so we can cancel your account with Bitcoin System.
We are required to tell potential investors that our software's past performance does not necessarily predict future results, therefore you should not speculate with capital that you cannot afford to lose.
USA REGULATION NOTICE: Option trading is not regulated within the United States. Bitcoin System is not supervised or regulated by any financial agencies nor US agencies. Any unregulated trading activity by U.S. residents is considered unlawful. Bitcoin System does not accept customers located within the United States or holding an American citizenship.
SITE RISK DISCLOSURE: Bitcoin System does not accept any liability for loss or damage as a result of reliance on the information contained within this website; this includes education material, price quotes and charts, and analysis. Please be aware of the risks associated with trading the financial markets; never invest more money than you can risk losing. The risks involved in trading Forex, CFDs and Cryptocurrencies may not be suitable for all investors. Bitcoin System doesn't retain responsibility for any trading losses you might face as a result of using the data hosted on this site.
LEGAL RESTRICTIONS: without limiting the undermentioned provisions, you understand that laws regarding financial contracts vary throughout the world, and it is your responsibility to make sure you properly comply with any law, regulation or guideline in your country of residence regarding the use of the Site. To avoid any doubt, the ability to access our Site does not necessarily mean that our Services and/or your activities through the Site are legal under the laws, regulations or directives relevant to your country of residence.
Please note that Bitcoin System receives advertising fees for directing users to open an account with the brokers/advertisers and/or for driving traffic to the advertiser website.
That surely is everything you need to know - it is all lies and is designed to deceive those who do not read the small print.
MT4 ForEx robots can make a profit under certain circumstances with certain conditions imposed but will never be able to trade successfully for long. MT5 robots can trade ForEx, CFDs (illegal in the states) and Stocks but no algorithm is going to continually make a profit that will be allowed to be sold to the public, it would destroy the economy almost overnight.
But just to be fair, let's have a look at what the website promises and see if any of it is true.
Currently seen here: https://btc-systems.com/en/sign-up
Anyone promising to give you a 80% accurate robot is a liar and is trying to scam you.
VERDICT, BITCOIN SYSTEM IS A: SCAM