We're going to start by looking at the actual information on InsideBitcoins.com. What are they actually discussing? Well they do post a lot about the price of Bitcoin, but their UK site begins with:
Have you ever dreamed of making it as a trader or investor? If so, you share a dream with many others. But so often budding traders and investors struggle to get over that first major hurdle: where to begin?
It takes time, dedication and experience to become a successful investor, but that doesn’t mean it can’t be done. As long as you’re able to put in the time and work to build up your knowledge and develop on your strategy, anyone can taste success in the financial markets.
What has trading go to do with Bitcoin? Bitcoin buying and selling and conversion back into local currency make it like a commodity for sure, but that is not connected to being a trader. Why would you even think to begin a Bitcoin website this way unless your website has nothing to do with Bitcoin?
They review a lot of what they refer to as autotrading which is a concept that was popular with MT5 traders a while back. Algorithms that people were perfecting that could then be shared and help people make money out of MT5 trading software. These algorithms were soon banned as brokers started to lose a lot of money, but they are still hiding out in the depths of Reddit somewhere.
Modern AI bots that are designed to trade have never exhibited good results, they just tend to lose all of your money within a day or two.
The autotrading reviews only seem to be on the US site, they do not appear when on the UK version. This is a big red flag as most of the autotrading scams tend to be soliciting CFD trading to Americans, which is illegal.
Here is a list of some of their pages, linking to various discussions about each title on InsideBitcoins.com
Now every one of the above associations is obviously complete nonsense and requires no review, does it? Well only if you are looking to rank on searches like Holly Willoughby Bitcoin for instance, so that you can have an affiliate link to the scammers and make money out of sending them to a scam.
This is not the jobs of a review site obviously. This is a huge red flag hanging over InsideBitcoins.com. They even have sign-up forms for some of these scam on their own site.
They also list reviews for:
Every one of which is a scam that they recommend! This is another huge red flag to hang over their site! I mean some of these even we haven't even heard of!
Next we shall have a look at a new trading platform that has been pushed pretty hard recently, and is on FaceBook and lots of the review sites, Quantum Code.
So what do InsideBitcoins.com think of it?
Well they do decide that it is a scam, probably because there does not currently seem to be a website for it that hasn't been shut down, so it doesn't offer affiliate links anymore. So they send you to Bitcoin Profit with their name as the affiliate code, so they are definitely scammers. They obviously are just out to get you scammed by their partners or the websites that they own, whichever is the case. This site cannot be trusted.
Their review of the Quantum Code goes on to say:
We believe that just like other scammers in our list, Quantum Code is nothing but a webpage that connects unsuspecting traders to scam brokers. Their so-called web-trader appears to be set to deliver specific results. Our live test reveals that traders make consistent losses from the first minute of live trading.
How can you do a live test on a product that you have just said is only a website to connect people to offshore scammer brokers? What would be the point in investing with offshore brokers that have nothing to do with the Quantum Code website other than being a partner? This is a deceitful review at best, and more likely, a scam.
The link to bitcoin profit is: https://bitcoinprofit.today/click/geo_bitcoin_profit_roi?source=insidebitcoins&aff_id=[string] and as you can see the source=insidebitcoins&aff proves that the insidebitcoins.com website is a recognised affiliate to bitcoinprofit.today, a scam that has been through so many URL iterations that they are forced to use a .today suffix.
VERDICT: INSIDEBITCOINS.COM IS A: SCAM !!
We recently sent this over to AWS asking them to take action against this site, as that is where they are hosted:
The above site appears to be either a part of or receiving affiliate fees from offshore, unregulated brokers being connected with US citizens for the purposes of defrauding using either unfair, or in some cases, completely fake CFD trader accounts.
This scam has no connection to cryptocurrency at all, it just uses the public image of bitcoin to delude people into handing over their cash to CFD traders which they are never told is illegal. in the US. Soliciting this product to US citizens is also illegal and we believe that this customer is breaking that law. You can see for yourself by following the links and signing up before being required to deposit any money as the money is deposited with the illegal broker to whom you are forwarded.
From the above link we would deduce that bitcoin profit, quantum code and insidebitcoins.com are all operated by the same criminals.