What is Bitcoin Up and is it a scam or an app?
We are seeing their website at: https://bitcoinup.invest-club-en.com/new2/?adv=clckson&custom5=2fb2cq5twmy254 and we are checking out the product here.
OK so we have seen this opening statement text a hundred times, all of them on the same template of site, whether it be Bitcoin Era, Bitcoin Code, Bitcoin Trader, Bitcoin Revolution, Bitcoin Blueprint, Bitcoin Circuit, Bitcoin Evolution etc.
Bitcoin ******* 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.
Which doesn't make a lot os sense, as if they have already made all their money from investing early in Bitcoin, why do they need this group?
It then states that no one else can match the '99.4% level of accuracy that The Bitcoin UP is able' to achieve. So presumably this is the same technique as Bitcoin Era and Bitcoin Code as they all promise the exact same performance. So the question begs - why not just stick to one trade name and invest yourselves in gaining ranking and exposure with that single brand?
The domain names are a clue here; they are using:
https://bitcoinup.invest-club-en.com/ and https://bitcoinup.invest-club-en.com/new2/ to advertise the same product. Different websites, both on the same server. So they have revamped the website but have not bothered with a new URL, or even buying a new URL that has more to do with the product name.
This could be a sign that the affiliates are actually provided with the marketing material by the product owner. That the affiliate sites are either owned by the same group, or that the advertisers of these products are all part of an affiliate programme that has the material provided as part of the deal. This would certainly explain why these product names sustain through so many different websites and URLs.
As is often the case they are asking for £250 to get you started which is presumably another condition of the broker/affiliate agreement as it never seems to change.
There is a promise of at least £1300 per day profit, but this is an obvious impossibility. If you could make 400% profit on day one, why not on day two? You should be able to realise over £6000 on the second day according to these returns. This site has been written based on what they think believe will believe rather than any reality of profits that can be realise. This is a big red flag!
It goes on to say that there are no hidden fees, broker fees or commissions, which presumably means that this must be a spread betting product as CFDs and trading incur broker fees and capital gains tax. Spread betting is highly speculative and you can lose more than you stake under many conditions. This is another red flag!
Finally, let us have a look at the T&Cs as they are very small in print and very hard to read:
Earnings and Legal Disclaimers Earnings and income representations made by bitcoinup.invest-club-en.com, (collectively “This Website”) only used as aspirational examples of your earnings potential. The success of those in the testimonials and other examples are exceptional results and therefore are not intended as a guarantee that you or others will achieve the same results. Individual results will vary and are entirely dependent on your use of bitcoinup.invest-club-en.com. This Website is not responsible for your actions. You bear sole responsibility for your actions and decisions when using products and services and therefore you should always exercise caution and due diligence. You agree that this Website is not liable to you in any way for the results of using our products and services. See our Terms & Conditions for our full disclaimer of liability and other restrictions. This Website may receive compensation for products and services they recommend to you. If you do not want This Website to be compensated for a recommendation, then we advise that you search online for a similar product through a non-affiliate link. Trading can generate notable benefits, however, it also involves the risk of partial/full loss of the invested capital, therefore, you should consider whether you can afford to invest. ©2021
USA REGULATION NOTICE: Trading Forex, CFDs and Cryptocurrencies is not regulated within the United States. Invest in Crypto is not supervised or regulated by any financial agencies nor US agencies. Any unregulated trading activity by U.S. residents is considered unlawful. bitcoinup.invest-club-en.com does not accept customers located within the United States or holding an American citizenship.
So, as suspected this is just another affiliate advertiser for unregulated ForEx/CFD brokers that are somewhere in the Pacific and are not suitable for beginner traders at all.
They are calling statements like wins trades with 99.4% accuracy advertising and not based on fact.
VERDICT: BITCOINUP IS A: SCAM!!
Do not use this product or any other product promising these ridiculous claims.